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Price is Everything Chat Room

  • #2,121
  • May 4, 2012 8:21am May 4, 2012 8:21am
wow IF this last question have been exciting, cant wait to come back after work. Great reason for price rxn.

Never have I had a clearer reason to pick entries and exits in price for objective reasons such as price.... like people with pivots fibs and indis. Yes while helpful price is telling you everything.

And now approaches and exit. Well sir thx
  • #2,122
  • May 4, 2012 8:24am May 4, 2012 8:24am
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
I know what you mean. At this stage of my education I can barely keep up with these 2 pairs and I really often only stick to one.
  • #2,123
  • May 4, 2012 8:55am May 4, 2012 8:55am
Yup. Price tells you absolutely everything you need to know!

@Mel

Well done - I love your explanation

great work all others too
  • #2,124
  • Edited 10:26am May 4, 2012 10:03am | Edited 10:26am
Hi IF,

I have two questions:

The first attachment shows a comment you recently posted in this thread. You wrote that it's important if the price shoots away from a zone or moves in a compressed way. The second attached screen shot shows a demand zone which was tested 3 times. The first move away was compression and the second attempt was a weak reaction with a lower high. Wouldn't the zone now be uninteressting when i follow your rules?

The third screen shot containes my explaination why price shot away. My question is now how far does it matter when price penetrates a zone deeply. I think the rule is: The probabily that price respects a zone again decreases with the depth of the last penetration.
But why shouldn't be enough orders left for another deep test and nice reaction?

Stefan

This is a AU 30m chart from 26th april
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  • #2,125
  • May 4, 2012 10:55am May 4, 2012 10:55am
one for the weekend

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take care,
Jonas
Hero calls followed by margin calls...
  • #2,126
  • May 4, 2012 12:31pm May 4, 2012 12:31pm
Quoting Winston Reed
Changing to FXCM form FXsol because of 5 decimals. Can see price action better on 1 and 5M charts.
I think I should do the same because 1m is sometimes unreadable in 4 dec...

Have a great weekend everyone!
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W Szczebrzeszynie chrząszcz brzmi w trzcinie
  • #2,127
  • May 4, 2012 1:10pm May 4, 2012 1:10pm
Mothers often say "look after the pennies, and the pounds will look after themselves"

I say, look after the M1s, and the H4s will look after themselves
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  • #2,128
  • May 4, 2012 3:58pm May 4, 2012 3:58pm
I hear alot of mental lightbulbs ignited this week.

I'm delighted it went so well

Hope to catch up on some queries and such this weekend

Video too, if I have time

Ninite folks
  • #2,129
  • May 5, 2012 5:23am May 5, 2012 5:23am
Hey Ify, i've got a question on this certain PA here :


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Hero calls followed by margin calls...
  • #2,130
  • May 5, 2012 5:33am May 5, 2012 5:33am
Quoting Ifmyante
Questions this time, not answers
what the hell ?

how can i resize my chart that it looks like urs ?!

scarry

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Hero calls followed by margin calls...
  • #2,131
  • May 5, 2012 6:10am May 5, 2012 6:10am
Quoting PhAnTi'
Hey Ify, i've got a question on this certain PA here :


Attachment

Attachment
Hi J

I did up some PA charts and got them finished.
After that I think I got to understand your question! - Why didn't we get an H1 pinbar rejection candle?

Just remember, candles are just a representation of what happened to price over a given time, not the PA itself. If price had gotten to the strong level half an hour earlier, of course there would've been an H1 PB there.

Price action is all about reactions to decision points. The candles we get around them depend only upon when price meets the levels.

We must never make decisions based on candles alone - we trade decisions and price action instead.

I hope I've answered the right question here. I've drawn no explanation of what I mean. I've just drawn the PA.

Best

If
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  • #2,132
  • May 5, 2012 6:10am May 5, 2012 6:10am
Quoting PhAnTi'
Hey Ify, i've got a question on this certain PA here :


Attachment

Attachment
Hi Phanti,

I am not If, but I have marked different things on my charts in case you would look at it.

Have a nice day!
Mel
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  • #2,133
  • May 5, 2012 6:11am May 5, 2012 6:11am
Quoting Ifmyante
Hi J

I did up some PA charts and got them finished.
After that I think I got to understand your question! - Why didn't we get an H1 pinbar rejection candle?

Just remember, candles are just a representation of what happened to price over a given time, not the PA itself. If price had gotten to the strong level half an hour earlier, of course there would've been an H1 PB there.

Price action is all about reactions to decision points. The candles we get around them depend only upon when price meets the levels.

We must never make decisions...
Oh sorry! we posted a reply at the same time... didn't saw your post before.
  • #2,134
  • May 5, 2012 6:16am May 5, 2012 6:16am
Quoting @mel
Oh sorry! we posted a reply at the same time... didn't saw your post before.
Don't be sorry

Your analysis is excellent. You've made my day! I can see this thread is gonna be in very safe hands in the future
  • #2,135
  • May 5, 2012 6:23am May 5, 2012 6:23am
Quoting Ifmyante
Hi J

I did up some PA charts and got them finished.
After that I think I got to understand your question! - Why didn't we get an H1 pinbar rejection candle?

Just remember, candles are just a representation of what happened to price over a given time, not the PA itself. If price had gotten to the strong level half an hour earlier, of course there would've been an H1 PB there.

Price action is all about reactions to decision points. The candles we get around them depend only upon when price meets the levels.

We must never make decisions...
Thanks for your response Ify,

guess i dont have a clue right now...

on the m5 timeframe we do have a double top, but i dont get it why the first test of this top didnt end up in a downrally as the 2nd attempt did ?!
For me the first attempt should've absorbed all of the sell orders to drop ?
Somehow im on the wrong track right now ?!

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Hero calls followed by margin calls...
  • #2,136
  • May 5, 2012 6:24am May 5, 2012 6:24am
Quoting Ifmyante
Don't be sorry

Your analysis is excellent. You've made my day! I can see this thread is gonna be in very safe hands in the future
Thank you If.
  • #2,137
  • May 5, 2012 6:28am May 5, 2012 6:28am
Quoting @mel
Hi Phanti,

I am not If, but I have marked different things on my charts in case you would look at it.

Have a nice day!
Mel
thanks for your response.

Hero calls followed by margin calls...
  • #2,138
  • May 5, 2012 6:44am May 5, 2012 6:44am
Quoting PhAnTi'
Thanks for your response Ify,

guess i dont have a clue right now...

on the m5 timeframe we do have a double top, but i dont get it why the first test of this top didnt end up in a downrally as the 2nd attempt did ?!
For me the first attempt should've absorbed all of the sell orders to drop ?
Somehow im on the wrong track right now ?!

Attachment
Very very simple answer to that

Look into m1 and you'll see it clearly
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  • #2,139
  • May 5, 2012 6:52am May 5, 2012 6:52am
Quoting Ifmyante
Very very simple answer to that

Look into m1 and you'll see it clearly
got it,thanks bro !
Hero calls followed by margin calls...
  • #2,140
  • Edited 7:13am May 5, 2012 6:58am | Edited 7:13am
Quoting PhAnTi'
thanks for your response.

Jonas, thank you so very much for being a 10+V who actually asks questions.

A big problem I've noticed is that many multivouched people refuse to let themselves ask really good and important questions, lest they appear not to have their act completely together.
The truth is, none of us know it all, but we can get so much closer to the holy grail if we can study every aspect of price together with open minds.

I'd strongly urge anybody and everybody who has an unanswered question, to just put it out there to be discussed.

If you wonder about something, I'm pretty sure lots of others do too, and you'd be doing them a great service by airing the query.

Thanks again Jonas
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