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Price is Everything Chat Room

  • #2,201
  • May 9, 2012 3:09am May 9, 2012 3:09am
Quoting Fx7877
Did a demo trade on Gold. Quick trade on M1, so didn't do too much analysis, only knew on daily TF, gold sliding. GRRR, left ALOT on the table as i was stopped out after moved trade to BE after partial. Pls critic if I have moved my stop too early? Initial stop was just above top of blue zone.

Just to add: I find that find S/D zone near S/R is very effective, works better than just S/D alone.
I think you're well on your way with this now

Having the confidence to let them run to TG area comes with practice, especially in the lightening quick world of M1/M5. Price coming back at you takes on a whole new meaning in this TF.
Often, price will come back to retest your zone, observing how it does it is key and in your trade there would have been nothing wrong with taking 1/2 off and keeping SL just above zone thereby allowing trade to come and retest and not get stopped out. the 1/2 off allows the trade to go negative a little and test your zone once more.
Red uses this technique in some of his trades posted in PIE.

Hope that makes sense.
  • #2,202
  • May 9, 2012 3:25am May 9, 2012 3:25am
I don't want to seem arrogant because I am a 10V and I don't ask much questions. I have just gotten into the habit of directing all my questions to the charts.

However, there is something I need a bit of help with. I have been trying to understand the reason why this pivot turned here? It was above source pole demand and there is not much that I can identify that could hold it up. Has anyone any ideas?

Would appreciate the help.

..
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  • #2,203
  • May 9, 2012 3:32am May 9, 2012 3:32am
Quoting Rufus
Hey all.

On If's profile he refers to himself as a full time ENTP. I am assuming this is a personality profile type. The "Visionary". I am an INTJ the "Scientist"

It may help some traders to take a personality test. This may show areas to be careful with and areas of strength. For me as an INTJ, have a tendency to hyper focus on an item or situation, this can be good if I am focused on the right thing. Bad if not. The majority of my trading errors are due to this.

If as a "Visionary" shows to me why he is so adept at giving "homework"...
What fun! Not sure how to interpret my results for trading but i'm studying it now. It's a good test.
i'm ENFJ - Idealist/Teacher. Interesting as my wife has always said i'd be a good teacher.
  • #2,204
  • May 9, 2012 3:39am May 9, 2012 3:39am
Quoting Tyoon
...

However, there is something I need a bit of help with. I have been trying to understand the reason why this pivot turned here? It was above source pole demand and there is not much that I can identify that could hold it up. Has anyone any ideas?

Would appreciate the help.

..
My take on it

Edit: added M1 for decision point
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  • #2,205
  • May 9, 2012 3:43am May 9, 2012 3:43am
Quoting Tyoon
I don't want to seem arrogant because I am a 10V and I don't ask much questions. I have just gotten into the habit of directing all my questions to the charts.

However, there is something I need a bit of help with. I have been trying to understand the reason why this pivot turned here? It was above source pole demand and there is not much that I can identify that could hold it up. Has anyone any ideas?

Would appreciate the help.

..
Hi Tyoon,

On my charts the low of the turning candle was just 1.6 pips from close of the previous week. Donīt know if that is the reason, but have found that price often reacts to LastWeeklyClose

But what do I know. Iīm just a newbie
  • #2,206
  • May 9, 2012 3:59am May 9, 2012 3:59am
Thanks for the answers.

Akruma, cheers. Have given me something to think about.
  • #2,207
  • Edited 4:22am May 9, 2012 4:13am | Edited 4:22am
Quoting Tyoon
why this pivot turned here?
i believe the reason lies a bit to the left.
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  • #2,208
  • May 9, 2012 4:21am May 9, 2012 4:21am
Quoting Akruma
Hi Tyoon,

On my charts the low of the turning candle was just 1.6 pips from close of the previous week. Donīt know if that is the reason, but have found that price often reacts to LastWeeklyClose

But what do I know. Iīm just a newbie
Thats why i plot 'm on my cheat chart

LHC and mid from last month, week, day.

S/D around those levels trigger my interest...
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  • #2,209
  • May 9, 2012 4:24am May 9, 2012 4:24am
Quoting Tyoon
I don't want to seem arrogant because I am a 10V and I don't ask much questions. I have just gotten into the habit of directing all my questions to the charts.

However, there is something I need a bit of help with. I have been trying to understand the reason why this pivot turned here? It was above source pole demand and there is not much that I can identify that could hold it up. Has anyone any ideas?

Would appreciate the help.

..
I'm a slowcoach but i've done the work so i'm posting it!

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BTW - you never come over as arrogant, far from it.
  • #2,210
  • May 9, 2012 4:25am May 9, 2012 4:25am
Quoting MitchWorse
Thats why i plot 'm on my cheat chart

LHC and mid from last month, week, day.

S/D around those levels trigger my interest...
Badass. Where did you get that indie mate?

Close levels has become more of an interest for me lately.
  • #2,211
  • May 9, 2012 4:26am May 9, 2012 4:26am
ignore the pivots, got a gap in the data from yesterday on the m5.

another reason to reduce the use of indicators...they get screwed up once in a while.
  • #2,212
  • May 9, 2012 4:32am May 9, 2012 4:32am
Quoting Tyoon
Badass. Where did you get that indie mate?

Close levels has become more of an interest for me lately.
made 'm myself, nothing fancy
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  • #2,213
  • May 9, 2012 4:38am May 9, 2012 4:38am
Quoting beebolbod;5651154[ATTACH
958399[/ATTACH]
That is a pretty neat level.

Could well be the reason there. I remember when I was waiting for this setup I was looking for the source around that 31668 level. Then again.. I was not watching the 1m that day and did not see this 3172.

Just goes to show it pays off to mark the 1m levels.

Quoting MitchWorse
made 'm myself, nothing fancy
Made them yourself? Nice work mate. Thanks for sharing
..
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  • #2,214
  • May 9, 2012 4:38am May 9, 2012 4:38am
Quoting MitchWorse
Thats why i plot 'm on my cheat chart

LHC and mid from last month, week, day.

S/D around those levels trigger my interest...


Great to know that more expericed traders are using similar levels as I do. Then i am not alone. I plot almost exact the same levels on my chart, and even open of current session. Open of current session mainly to show the direction of the session. I also use a "cheat chart", and a Clean chart.
The cheat chart is cluttered, but helps finding a confluence of levels.

The clean chart gives a better overview to trade from.
  • #2,215
  • May 9, 2012 4:46am May 9, 2012 4:46am
Quoting Tyoon
I don't want to seem arrogant because I am a 10V and I don't ask much questions. I have just gotten into the habit of directing all my questions to the charts.

However, there is something I need a bit of help with. I have been trying to understand the reason why this pivot turned here? It was above source pole demand and there is not much that I can identify that could hold it up. Has anyone any ideas?

Would appreciate the help.

..
respected to the pip.
i always look at the close of last s/r or S/D, price tend to remember .
wkly and dly LCS and HCR are powefrul [you know the jaroo stuff on j16]
and thanks for this tyoon, is food for brain.
my 2 $
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Sometime the horizon disappear. Twitter: @_whiteout
  • #2,216
  • May 9, 2012 4:47am May 9, 2012 4:47am
finally I can post here.
Simplicity Is The Ultimate Sophistication ~LDV~
  • #2,217
  • May 9, 2012 4:54am May 9, 2012 4:54am
Quoting alterchristo
finally I can post here.
  • #2,218
  • May 9, 2012 4:55am May 9, 2012 4:55am
Quoting whiteout
wkly and dly LCS and HCR are powefrul
Awesome. Well, if we are going to talk about close levels I may as well share my thought on this level too.

The 1.3171 came nicely off of the 4H chart (GMT+1/London).

The red arrow shows the pivot low reaction.

..
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  • #2,219
  • May 9, 2012 4:55am May 9, 2012 4:55am
BREAKING NEWS: Bank robbers hit Spanish bank and end up billions in debt.
  • #2,220
  • May 9, 2012 5:13am May 9, 2012 5:13am
Quoting hometrading
BREAKING NEWS: Bank robbers hit Spanish bank and end up billions in debt.


Eurozone in general is phucked. I dont hold much hope for it in near future. Fundies could crash it all pretty soon. Frankly i have no idea how EU has held up as well as it has for this long.
Greece will leave.
Spain and France are in tatters.
Germany is feeling the pinch.
Nobody mentions Portugal much but i doubt it's happy either.
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