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  • #2,081
  • May 3, 2012 7:04am May 3, 2012 7:04am
Quoting Tyoon
I either use photoshop or paint. It doesn't really matter. I just like making them look pretty

Here is another one that includes another pattern. It is similar to compression except when price is rising/falling it is taking out the buyers/sellers in the direction that it is moving. Unlike compression, when price is removing supply/demand to clear the way north/south, this pattern is there to consume supply/demand so keep moving in it's current direction. You can get a combination of both compression and this pattern to get a messy whipsaw...
Tyoon, is this the continuation pattern you are referring to ?
[i have to say thank you to hometrading that linked me your post on this some time ago]
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Sometime the horizon disappear. Twitter: @_whiteout
  • #2,082
  • Edited 8:04am May 3, 2012 7:49am | Edited 8:04am
Quoting whiteout
Tyoon, is this the continuation pattern you are referring to ?
[i have to say thank you to hometrading that linked me your post on this some time ago]
Yup, that kind of looks like one.

For further reference here are a few examples.

ALSO, your GU example there, keep in mind ECB conference and other figs are taking control. Price can do all kinds of nutty shit here.

..
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  • #2,083
  • May 3, 2012 10:11pm May 3, 2012 10:11pm
Hi folks,
Not sure if its just me being dense or what, but i find that the more i do my homework and stare at charts, the more questions I have! (instead of answers) Its like a can of worms has been opened up. Boy, I don't think i can continue trading until this can of worms is cleared up. Need all the help I can from fellow PIE traders.

Pls see EURJPY chart in H1, M15. M5 is just showing zoomed in portion of bull pole. Questions posted in charts.

Additional question for IF or any other seniors
-Why did it overshoot and not respect zone? Did DTL nearby make a difference in that if we see S/R or TL nearby, we wait to see if it reacts there instead of the zone? Perhaps this question is similar to the EURUSD one that i posted recently which IF is awaiting for more response b4 revealing answer...
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  • #2,084
  • May 3, 2012 10:26pm May 3, 2012 10:26pm
Quoting @mel
Hi Fx,

I am going to try to answer your questions, I have marked some charts...

Your first question was:
In relation to the chart & homework, may i ask if a SS zone is invalidated if the price bar cuts straight thru without respecting it?


My answer:

You must mean demand here, well, what I see is that the demand you talked about has already been consumed (tested) different times. Look at my 1st 4h chart . Here you can clearly see that this previous demand has been tested already, since there is no demand anymore price...
Thanks Mel, yes its a demand zone turned supply. As you rightly pointed out, the zone has been tested b4, but only once, so still quite viable. I have seen If and others take zone which are not fresh and worked perfectly, so not sure if this is the cause for it not respecting. Re 2nd question, the blue box on the left is where I have marked out as supply zone originally.
  • #2,085
  • May 3, 2012 10:33pm May 3, 2012 10:33pm
Quoting Ifmyante
As you probably know by now, I don't wait for engulfs for entry
I know where price will turn. I never know for sure whether it will be a reversal or just a bounce, until the previous zone at least has been engulfed.
Remember, this not an hard and fast rule. What I expect from a trade depends on the answers to my checklist.

If I haven't mentally filled in my checklist, I'm not happy about taking the trade
Thanks If, am far from your state in trading and I will probably use engulfing as confirmation as RED always mentioned that engulfing means institution moving price and its more significant.

Looking at so many diff TF for just 1 pair and also weighing the factors in the checklist, how many pairs of currency do you monitor? I find it abit overwhelming and wonder if I shld just stick to a few pairs and know their S/D zones are all TF really well
  • #2,086
  • May 3, 2012 11:59pm May 3, 2012 11:59pm
Quoting Ifmyante
That's a good set of questions

Can you get a good idea of what was going on by the LTFs?

All are welcome to join in and explain what happened here
I have been scanning the charts and zooming in on your 1min period. We can easily see on the highertimeframe a decision was made to go down, when we zoom in we can see the stages of decision. Those previous demand zones match up on the one min chart as decision zones where price has now decided to go south.

As they are extended across the chart that become strong turning points for price and this illustrates the power of poles and previous zones they have engulfed. You dont have to spend the majority of time on the smaller timeframes but once you see a clearly strong decision made there will be key decision areas to zoom in on.

Highly enlightening exercise because the accuracy was uncanny for price wanting to turn. at the decision levels as i am refering to them.

This is powerful stuff.
  • #2,087
  • Edited 3:13am May 4, 2012 2:25am | Edited 3:13am
Quoting Fx7877
Thanks If, am far from your state in trading and I will probably use engulfing as confirmation as RED always mentioned that engulfing means institution moving price and its more significant.

Looking at so many diff TF for just 1 pair and also weighing the factors in the checklist, how many pairs of currency do you monitor? I find it abit overwhelming and wonder if I shld just stick to a few pairs and know their S/D zones are all TF really well
Couple things for you....

See my post about EU... that was my effort at answering what If was waiting for. Maybe it makes some sense? If i've got at least some of it right then our man can just confirm/correct whilst we work out what's going on. Helping each other

There was some news on the euro yesterday i think (ECB talks?). I was watching EJ too and it had violent whips. dont forget that sometimes news or events will blow our analysis out the window and well respected zones will get shat on.

And about getting overwhelmed by it all... happens to me too m8. I find it best to draw zones from high TF down to low TF on all pairs you watch. Keep in your comfort zone and wait for price to reach some of the higher TF zones, then at least you know you have a good chance in lower TF.

You must practice picking fresh zones. See them on all TF. Look for the stuff Red picks out as fresh zones and you can even add that S/D indi to get you started. It's not perfect at all so dont rely solely on it but i used it to pick and validate zones whilst learning how to draw them myself. After a while you will see zones the Indi doesn't. You will also have the lower TF zones on your chart whereas the indi only draws in the TF you are viewing.
  • #2,088
  • May 4, 2012 3:18am May 4, 2012 3:18am
Quoting Fx7877
Hi folks,
Not sure if its just me being dense or what, but i find that the more i do my homework and stare at charts, the more questions I have! (instead of answers) Its like a can of worms has been opened up. Boy, I don't think i can continue trading until this can of worms is cleared up. Need all the help I can from fellow PIE traders.

Pls see EURJPY chart in H1, M15. M5 is just showing zoomed in portion of bull pole. Questions posted in charts.

Additional question for IF or any other seniors
-Why did it overshoot and not respect zone?...
Keep it simple Fx

If I see a zone has been tested already, I'd want some very good reasons for trading it next time back
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  • #2,089
  • May 4, 2012 3:30am May 4, 2012 3:30am
A few from last night and this morning's study sesh. It's a leading break out structure.

Price compresses up/down then pulls back from hitting a resistance/suppose|sup/dem and balances out before an advance in the compressed direction. The res/sup|sup/dem usually comes from a higher TF.. this would normally make me biased for a reversal.. but when you watch the PA unfold you see that actually price wants to carry on.. also keeping in mind of where price came from. For example, if price has only just left a 4H demand zone and it hits 30M resistance.. the likely scenario here is that the 4H demand is more powerful and will break the 30M resistance.

These are some structures that I have found to have happened in example of this scenario.

Hhmm.. I'll also do a drawing to simplify it.

Anyway, I hope this helps someone in some way.
..
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  • #2,090
  • May 4, 2012 3:45am May 4, 2012 3:45am
Quoting Tyoon
A few from last night and this morning's study sesh. It's a leading break out structure.

Price compresses up/down then pulls back from hitting a resistance/suppose|sup/dem and balances out before an advance in the compressed direction. The res/sup|sup/dem usually comes from a higher TF.. this would normally make me biased for a reversal.. but when you watch the PA unfold you see that actually price wants to carry on.. also keeping in mind of where price came from. For example, if price has only just left a 4H demand zone and it hits 30M resistance.....
Great work Ty

Some other thoughts on it in picture


I'll get to all the questions soon. Need to earn my bread for now
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  • #2,091
  • May 4, 2012 3:57am May 4, 2012 3:57am
Quoting beebolbod
Couple things for you....

See my post about EU... that was my effort at answering what If was waiting for. Maybe it makes some sense? If i've got at least some of it right then our man can just confirm/correct whilst we work out what's going on. Helping each other

There was some news on the euro yesterday i think (ECB talks?). I was watching EJ too and it had violent whips. dont forget that sometimes news or events will blow our analysis out the window and well respected zones will get shat on.

And about getting overwhelmed by it all......
Hi Bee,
Yea, saw your post on EU, thks for the effort in helping. Waiting for IF to confirm it Yup, trying to do it from HTF to LTF as well. Guess I need ALOT more practice. Practice makes perfect. The S/D indi was quite useful for a start, I don't really use the S/D indi now as I find it doesn't spot them all, prefer to hand draw
  • #2,092
  • May 4, 2012 4:09am May 4, 2012 4:09am
There's an awful lot to learn about PA in that particular chart

If time and Missus permit, I'll do a vid on it over the weekend
  • #2,093
  • May 4, 2012 4:10am May 4, 2012 4:10am
Quoting Ifmyante
Great work Ty

Some other thoughts on it in picture


I'll get to all the questions soon. Need to earn my bread for now
hy IF, maybe I didn't present the structure properly. Was meant to show price continuation north by first price compressing upwards while rising (creeping) then pulling back from resistance balancing then breaking north. I suppose it is meant to either show to exit shorts if entered short on resistance or possibly even enter long on the demands in the balance for a continuation.

Anyway, nothing important. Just blabber.
  • #2,094
  • May 4, 2012 4:14am May 4, 2012 4:14am
Quoting Ifmyante
Keep it simple Fx

If I see a zone has been tested already, I'd want some very good reasons for trading it next time back
Thks IF, got it. Btw, did i get my zone (in blue) done up wrongly becos I didn't see u make reference to it? Thought it looked good in H1


And on the topic of LQ which i believe you plan to discuss in near future, perhaps you can tell us how to differentiate LQ from momentum pole?

Sorry if you're overwhelmed by my all my non-stop questions...
  • #2,095
  • May 4, 2012 4:15am May 4, 2012 4:15am
Quoting Tyoon
hy IF, maybe I didn't present the structure properly. Was meant to show price continuation north by first price compressing upwards while rising (creeping) then pulling back from resistance balancing then breaking north. I suppose it is meant to either show to exit shorts if entered short on resistance or possibly even enter long on the demands in the balance for a continuation.

Anyway, nothing important. Just blabber.
Not blabber at all

If price flags atop a cp zone, nothing is valid 'til the flag breaks, one way or the other

Keep up the great work
  • #2,096
  • May 4, 2012 4:31am May 4, 2012 4:31am
Quoting Ifmyante
There's an awful lot to learn about PA in that particular chart

If time and Missus permit, I'll do a vid on it over the weekend
Hero calls followed by margin calls...
  • #2,097
  • May 4, 2012 4:42am May 4, 2012 4:42am
Thanks so much Jonas for the e-book you made

I'm just going through it now; it looks like a great help to many
  • #2,098
  • May 4, 2012 4:47am May 4, 2012 4:47am
Quick quiz
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  • #2,099
  • May 4, 2012 5:05am May 4, 2012 5:05am
i'am not so convinced...but right now i see nothingh else.
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Sometime the horizon disappear. Twitter: @_whiteout
  • #2,100
  • May 4, 2012 5:10am May 4, 2012 5:10am
Quoting whiteout
i'am not so convinced...but right now i see nothingh else.
Yup

After my post, price continued to cp up, so I had to bail for a few pips profit

What's the next line, if approach is good?
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