Price is Everything Chat Room | Page 120 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Fozzy Chat Room 7 replies

Attachments: Price is Everything Chat Room
Exit Attachments

Price is Everything Chat Room

  • #2,381
  • May 11, 2012 2:00pm May 11, 2012 2:00pm
Is there a way to know which side (up/down) the CP will break out?
The 2nd CP in Beebolbod's picture actually broke out to the upside instead of usual down.
  • #2,382
  • May 11, 2012 3:22pm May 11, 2012 3:22pm
Quoting uk4x
supply
worked out well target hit
Attached Image(s) (click to enlarge)
Click to Enlarge Name: chart gpd 55.jpg Size: 104 KB
Click to Enlarge Name: chartusd1.jpg Size: 97 KB
  • #2,383
  • May 11, 2012 3:57pm May 11, 2012 3:57pm
Quoting nestle55
Is there a way to know which side (up/down) the CP will break out?
The 2nd CP in Beebolbod's picture actually broke out to the upside instead of usual down.
All the PA is usually there to tell you what's gonna happen next.
Attached Image (click to enlarge)
Click to Enlarge Name: 11-05-2012 21-43-50.jpg Size: 112 KB
  • #2,384
  • Edited May 12, 2012 5:50am May 11, 2012 4:08pm | Edited May 12, 2012 5:50am
OK

More homework

I do hope this is something you all regularly practice anyway, but lets make it formal.

Open the M1 chart on any pair you usually watch
Find a chart that covers the time period you usually trade
Explain every single move that occurred
Refer to HTFs where it's pertinent (For SR, SD, TLs, Flags, CP, etc)

Do this 20 times

Simple

Note: If there's something which you just can't explain, feel free to ask
Note 2: This is not meant to be training to trade in M1. It should all be tied in with trading the HTFs. It's just a way of training yourself to pick HTF entries with little or no DD, and spotting precisely where and when HTF setups are destined to run or to fail
and, once you can read the absolutely beautiful simplicity of M1, you can easily transfer the exact same methods to the HTFs
  • #2,385
  • May 11, 2012 4:13pm May 11, 2012 4:13pm
Quoting Ifmyante
OK

More homework

I do hope this is something you all regularly practice anyway, but lets make it formal.

Open the M1 chart on any pair you usually watch
Find a chart that covers the time period you usually trade
Explain every single move that occurred
Refer to HTFs where it's pertinent (For SR, SD, TLs, Flags, CP, etc)

Do this 20 times

Simple
love this homework
Let's start the journey
http://http:/http://www.youtube.com/watch?v=rxYkOoLikN4&feature=related (http://http://www.youtube.com/watch?v=EA04apjbMp4&feature=related[/quote])[/quote]
Sometime the horizon disappear. Twitter: @_whiteout
  • #2,386
  • May 11, 2012 4:20pm May 11, 2012 4:20pm
Quoting whiteout
love this homework
Let's start the journey
(http://http://www.youtube.com/watch?feature=player_embedded&v=rxYkOoLikN4#!#t=07s
)[/quote]


Great Video, although after seeing the alien face in the picture of the bridge 7 seconds in, I was looking for paranoiac critical interpretations of all the subsequent images
  • #2,387
  • May 11, 2012 5:28pm May 11, 2012 5:28pm
A little depressed about my performance but hanging in there. A little epiphany, wonder if other's feel same. This zoomed out 1M chart is meant to illustrate the distance or time between some levels. I believe Sam Seiden teaches time away from level is important. Even on this 1M chart one can see that there is definitely more impressive reactions the longer away from a level price is. Sometimes when I'm watching minute to minute I think I get too caught up in the "minute" and not looking at the bigger picture even on a 1M chart. I need patience even on a 1M chart.
Attached Image (click to enlarge)
Click to Enlarge Name: au1m511.jpg Size: 120 KB
  • #2,388
  • May 11, 2012 7:34pm May 11, 2012 7:34pm
Quoting Ifmyante
Do this 20 times
I'll do my best over the weekend.

A session before some bed.

Full size (http://i.minus.com/iFBzKKFhn3ff0.png)
..
Attached Image (click to enlarge)
Click to Enlarge Name: 1mudplay.jpg Size: 128 KB
  • #2,389
  • May 11, 2012 8:43pm May 11, 2012 8:43pm
Quoting Winston Reed
A little depressed about my performance but hanging in there. A little epiphany, wonder if other's feel same. This zoomed out 1M chart is meant to illustrate the distance or time between some levels. I believe Sam Seiden teaches time away from level is important. Even on this 1M chart one can see that there is definitely more impressive reactions the longer away from a level price is. Sometimes when I'm watching minute to minute I think I get too caught up in the "minute" and not looking at the bigger picture even on a 1M chart. I need patience...

Hey Winston

You might consider staying away from 1m charts. I know that for me it helped. Now I will look at a 1M only for some very specific reasons other then that 5m is about as low as I go for now. One of these days I would like to try a 2 or 3M candle. But time will tell.

Just an idea. For some stupid reason I failed to get my head wrapped around a 1M chart.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #2,390
  • May 11, 2012 11:48pm May 11, 2012 11:48pm
Quoting Rufus
Hey Winston

You might consider staying away from 1m charts. I know that for me it helped. Now I will look at a 1M only for some very specific reasons other then that 5m is about as low as I go for now. One of these days I would like to try a 2 or 3M candle. But time will tell.

Just an idea. For some stupid reason I failed to get my head wrapped around a 1M chart.
Thanks Rufus. I am studying higher time frames 4H and Daily. Watching the PA traders in this thread is inspiring and I will continue to study their methods and perhaps reach their level at some point in the future. I need to be honest with myself and realize that 1M trading is not for me at this stage of my trading education. I can retrospectively analyze a chart to perfection but trading it in real time....that's another skill altogether.

I know most traders in this chatroom are scalping or trading relatively short term but it would be interesting to see setups and trades based on HTF.

Here's my AU daily
Attached Image (click to enlarge)
Click to Enlarge Name: audaily511.jpg Size: 127 KB
  • #2,391
  • May 11, 2012 11:54pm May 11, 2012 11:54pm
New hw sounds fun IF. I am wondering if you can make a flag hw. Yes, I know I could go off on my own and do this, but I like your debriefs before hw sessions.

I do not feel I understand the full dynamics of flags, I have notions of what a flag is, but would be helpful if you posted something on what a flag is to you as a PIE trader and how a flag is traded. Or what a flag signifies.

Trying to go over all examples I see in other threads and red talks about them a lot but the examples are fragmented. You seem to present great answers, and this is something I would like to know more about as I try to decipher a sessions price action.

Thank you for your time.
  • #2,392
  • May 11, 2012 11:59pm May 11, 2012 11:59pm
Quoting Tyoon
I'll do my best over the weekend.

A session before some bed.

Full size (http://i.minus.com/iFBzKKFhn3ff0.png)
..
Your write ups are always clear and helpful. Thankyou.
  • #2,393
  • May 12, 2012 12:26am May 12, 2012 12:26am
Quoting Winston Reed
Thanks Rufus. I am studying higher time frames 4H and Daily. Watching the PA traders in this thread is inspiring and I will continue to study their methods and perhaps reach their level at some point in the future. I need to be honest with myself and realize that 1M trading is not for me at this stage of my trading education. I can retrospectively analyze a chart to perfection but trading it in real time....that's another skill altogether.

I know most traders in this chatroom are scalping or trading relatively short term but it would...
I at times think that it is a personality issue more then an ability issue as to which time frames work the best for each trader. That is why I started looking at things like personality tests, trader type tests etc. This all has worked together to help get an understanding of what makes my brain cell tick.

Ify and others can make a 1M chart dance naked in the street. Me I go off screaming naked in the night. I have a tendency to quickly loose perspective of the chart as a whole, all time frames together, when I focus on a 1M chart. Overly concerned about each tick as opposed to price action as a whole. I grew up playing chess, each move thought out in light of all the next moves, a specific strategy that adapts a bit depending on how the opponent plays the game. A video game with split second decisions and I am about as clumsy as a baby bear trying to pick fly shit from black pepper with boxing gloves on.

So my traded zones are 4h, 1h, 30 or 15m, and occasionally 5m. Then if I get the opportunity to watch price it is usually on the 5m chart.

I have attached an example of the only reason I look at a 1m chart. The 5m showed no zone for why price was acting the way it was, So dropped down to 1m to find it. I am usually not quick enough to catch this.

Hopefully no toes stepped on just thinking about things.

Rufus
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 5.11eu.short.5m.jpg Size: 75 KB
Click to Enlarge Name: 5.11eu.short.1m.jpg Size: 80 KB
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #2,394
  • May 12, 2012 4:22am May 12, 2012 4:22am
Quoting Tyoon
I know I say this a lot.. but I hope this makes sense. Had just woke up.

EDIT; just realized IF and others beat me to it. Well, hope this still helps.

..
Tycoon,
Thanks for the detailed analysis, you are awesome! Although some of my candlestick formation differs from yours, i believe the logic is still the same. Thanks once more....

Quoting Ifmyante
Remember Approach
Thanks Sir. I see now that these spikes are ok as they are negated by the dip which consumed demand. *my bulb lighting up*

Alright, now back to time with family after quick pop by in
  • #2,395
  • Edited 5:54am May 12, 2012 4:51am | Edited 5:54am
All the after-the-fact analysis eventually rubs off on the during-the-fact analysis.

Some during-the-fact analysis on the sim.

Will spend some more time this weekend to do more.

Full size (http://i.minus.com/iGNUacBzFVGOi.png)

Another one from just now.

Full size (http://i.minus.com/iQYEmiTFoXLa9.png)

..
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 50pflagplay2.jpg Size: 207 KB
Click to Enlarge Name: 5mplay1.jpg Size: 188 KB
  • #2,396
  • May 12, 2012 5:19am May 12, 2012 5:19am
Attached Image (click to enlarge)
Click to Enlarge Name: eurcad.jpg Size: 93 KB


Attached Image (click to enlarge)
Click to Enlarge Name: eurcad2.jpg Size: 88 KB
Hero calls followed by margin calls...
  • #2,397
  • May 12, 2012 5:24am May 12, 2012 5:24am
Quoting Tyoon
All the after-the-fact analysis eventually rubs off on the during-the-fact analysis.

Some during-the-fact analysis on the sim.

Will spend some more time this weekend to do more.

Full size (http://i.minus.com/iGNUacBzFVGOi.png)

..
Great work Tyoon

You're doing a great job of marking where price is going to turn.
The reason behind this exercise though is not just to pinpoint turning points in advance

Yes, it's about finding where decisions have been made in the past, but it's also about reading PA before price hits, seeing how many pockets of D or S have been consumed along the way, taking in all the signs that price may want to turn, giving you the confidence to enter the trade, and an idea of where price wants ultimately to go, and then reading the PA upon and after the touch

Could I ask you then to mark the signs on price approach that it's getting ready to turn or break, and the same for reactions too (which, of course, are just approaches to the last decision on the way!)

BTW, this is not meant to be training to trade in M1. It should all be tied in with trading the HTFs. It's just a way of training yourself to pick HTF entries with little or no DD, and spotting precisely where and when HTF setups are destined to run or to fail
  • #2,398
  • May 12, 2012 6:24am May 12, 2012 6:24am
Quoting Ifmyante
it's also about reading PA before price hits, seeing how many pockets of D or S have been consumed along the way, taking in all the signs that price may want to turn, giving you the confidence to enter the trade, and an idea of where price wants ultimately to go, and then reading the PA upon and after the touch

Could I ask you then to mark the signs on price approach that it's getting ready to turn or break, and the same for reactions too (which, of course, are just approaches to the last decision on the way!)

BTW, this is not meant to be...
K, thanks IF. I was thinking when I was doing my last session that I was not paying too much attention to CP and LQ, ect. I will pay more attention to it on this next one.

As you mentioned, trying to find HTF trades with specific 1-5m entries are key. Managed to capture a 1:20 RR on the sim the other day due to this way of entry. Will make it also my main objective in the next session.
  • #2,399
  • May 12, 2012 6:42am May 12, 2012 6:42am
Quoting Tyoon
K, thanks IF. I was thinking when I was doing my last session that I was not paying too much attention to CP and LQ, ect. I will pay more attention to it on this next one.

As you mentioned, trying to find HTF trades with specific 1-5m entries are key. Managed to capture a 1:20 RR on the sim the other day due to this way of entry. Will make it also my main objective in the next session.
Great, thanks TY

S and D certainly is massively important, and most trades can be entered and managed using just this alone.

But just as much as SD predicts where price will bounce, PA creates the conditions for new SD to form.

Know how to read them both, and you'll master the market
  • #2,400
  • May 12, 2012 7:06am May 12, 2012 7:06am
Quoting Ifmyante
S and D certainly is massively important, and most trades can be entered and managed using just this alone.

But just as much as SD predicts where price will bounce, PA creates the conditions for new SD to form.

Know how to read them both, and you'll master the market
Most Excellent.

BTW IF, Rufus left a message for you on my NES.

..
Attached Image
0 traders viewing now