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Price is Everything Chat Room

  • #2,621
  • May 18, 2012 3:25am May 18, 2012 3:25am
Quoting @mel
Hi If,

Hope you doing great.
I would say, all of your posts have great value :-) but since you asked for a few, here you go:



Mel
Thanks Mel,

You're an absolute star!
  • #2,622
  • May 18, 2012 3:43am May 18, 2012 3:43am
Quoting Ifmyante
Did I say that? Hmmmmm

Well OK. I certainly would be wary of a pole into supply which broke straight through other supplies on the way there - the decision to break the S'es would suggest strong D at the decision points
But if there was no broken S on the way, just empty space, taken in context, I see no problem with shorting at S.

Where I do have a problem with shorting at S, is if price made a rectangular flag just beneath it, as the tg is now so much closer, and I wouldn't feel entirely sure about shorts until that flag got engulfed...
Thanks If that you explained it, because it is very important how to distinguish flag pole from LQ
W Szczebrzeszynie chrząszcz brzmi w trzcinie
  • #2,623
  • May 18, 2012 3:46am May 18, 2012 3:46am
Quoting kruger
Thanks If that you explained it, because it is very important how to distinguish flag pole from LQ
Generally they're caused by the same thing - empty space to the left
At least the best ones are
  • #2,624
  • May 18, 2012 3:48am May 18, 2012 3:48am
If price makes it to 79.40, it might be a good short. The origin to the downmove has not been tested.
On second picture, you can see M1 zoom in where it is more clear where the origin to the move is.
The line, is last weeks low.

Thats how I see it. Is the zone draw correctly?


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  • #2,625
  • May 18, 2012 3:51am May 18, 2012 3:51am
Quoting Akruma
If price makes it to 79.40, it might be a good short. The origin to the downmove has not been tested.
On second picture, you can see M1 zoom in where it is more clear where the origin to the move is.
The line, is last weeks low.

Thats how I see it. Is the zone draw correctly?


Attachment
Attachment
That does look like where the decision was made to break the low

Watch approach - a cp would be great

Where would your stop be on that chart?
  • #2,626
  • May 18, 2012 3:53am May 18, 2012 3:53am
Quoting Ifmyante
Did I say that? Hmmmmm

Well OK. I certainly would be wary of a pole into supply which broke straight through other supplies on the way there - the decision to break the S'es would suggest strong D at the decision points
But if there was no broken S on the way, just empty space, taken in context, I see no problem with shorting at S.

Where I do have a problem with shorting at S, is if price made a rectangular flag just beneath it, as the tg is now so much closer, and I wouldn't feel entirely sure about shorts until that flag got engulfed...
Am not good with words, guess the Teacher says it better! IF, thanks for the explanation and clarification.
  • #2,627
  • Edited 10:16am May 18, 2012 4:05am | Edited 10:16am
Quoting Ifmyante
That does look like where the decision was made to break the low

Watch approach - a cp would be great

Where would your stop be on that chart?
Thanks for reply If. Realy appriciate it.
I was planning the stop to be one pip + spread above the swing high just prior to the drop. SL 79.48, and first TG 79.22. Entry 79.40.
If the move down is strong, I would leve second half for a runner. Maybe all the way down to 78.53, where there is an origin to a long move (Feb 16.)

EDIT:
TG 1 hit, but without me
This is a problem I have. I exit the trades before they have fully matured. Anyway the analyses worked out.
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  • #2,628
  • May 18, 2012 4:16am May 18, 2012 4:16am
Can anyone give reasons why S2 and S3 were not respected. Strong moves away from both.

S2 ultimately was respected but price still blew through the level to touch S1.

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  • #2,629
  • May 18, 2012 4:21am May 18, 2012 4:21am
Quoting Rsherl01
Can anyone give reasons why S2 and S3 were not respected. Strong moves away from both.

S2 ultimately was respected but price still blew through the level to touch S1.

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Hi, I think they were
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W Szczebrzeszynie chrząszcz brzmi w trzcinie
  • #2,630
  • May 18, 2012 4:23am May 18, 2012 4:23am
Quoting Rsherl01
Can anyone give reasons why S2 and S3 were not respected. Strong moves away from both.

S2 ultimately was respected but price still blew through the level to touch S1.

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Never forget the bigger picture
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  • #2,631
  • May 18, 2012 4:26am May 18, 2012 4:26am
Cheers Kruger I am not with it today. Suppose i was being greedy.

Some nice PA here where decision to break the flag for a nice long. Alot of supply above though but then again we are coming from a big Daily Demand???

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  • #2,632
  • May 18, 2012 4:29am May 18, 2012 4:29am
Quoting Ifmyante
Never forget the bigger picture

If,

Again many thanks. Sorry to plague you with questions but would you bias not to take these shorts stem from the LTF demand we are coming from or the beak of the downward trend line and the subsequent higher lows??

OR BOTH???
  • #2,633
  • May 18, 2012 4:34am May 18, 2012 4:34am
Quoting Rsherl01
Cheers Kruger I am not with it today. Suppose i was being greedy.

Some nice PA here where decision to break the flag for a nice long. Alot of supply above though but then again we are coming from a big Daily Demand???

Attachment
In this case nice scenario would be enter after retest of broken flag - supply was removed and there was clear path north
W Szczebrzeszynie chrząszcz brzmi w trzcinie
  • #2,634
  • May 18, 2012 4:37am May 18, 2012 4:37am
Quoting Rsherl01
If,

Again many thanks. Sorry to plague you with questions but would you bias not to take these shorts stem from the LTF demand we are coming from or the beak of the downward trend line and the subsequent higher lows??
It really depends on the time and focus you have at your disposal, the speed of fill of your broker, and the confidence you have in your ability to read price.

Supply and demand works in every TF, so while you're looking at a move up in the HTF, you can still scalp all the strong LTF levels up and down. In a bull market, you can give the longs a chance to break if the PA suggests it may, and just take the bare minimum definitely offered on the shorts, and vice versa in a bear market

You must never try this live though until you've mastered it on demo. Without lots of experience, it only takes a moment to get confused and do massive damage to your account. Even with lots of experience, you really need to be completely in the zone to make it work
  • #2,635
  • May 18, 2012 4:39am May 18, 2012 4:39am
If,

Many thanks again for your guidance. Its invaluable at this stage of my trading.
  • #2,636
  • May 18, 2012 5:18am May 18, 2012 5:18am
[quote=Ifmyante;5629245]
Quoting @mel

Hi Mel

to understand exactly what went on in this scenario, or indeed to read any situation at all on the charts, past present or future,you should look for a certain set of clues.

I was going to wait 'til the weekend to disclose these clues.
I have no time right now to explain them fully with chart examples, but I might as well write them so they are in the collective mind before the full explanation comes.

It should be one of my final lessons on FF.

So here's what we look for on the charts:

General:...
(This is in rerply to post #2035)

Hi IF,

Im new to this thread, and very much grasping the concept of PA ... I appreciate all your help for us newbs..

I have a few questions if i may ask ..

2 important things i read about everywhere are compressions (cp) and flags ... Im finding it difficult to understand the importance of these 2 during price action setups or what to do when price approaching them...

Could it be possijble to exeplain what is the meaning/relevance (not definition) of compression and flags when it comes to PA.

Also, i absolutely love your post above quoted ... Im trying to answer all the questions u mention while backtesting ... The thing is, im not too sure what to expect haha (sounds dumb i know) ... Like for eg. when the price is falling in demand and When u ask .. "Has the price compressed into the zone ...." if yes, do we buy? Or is that a bad sign, so stay away? Same thing for other questions ....

I guess what im trying to say is that is there some sort of flow chart ( if so, then ... chart ) that you or anyone else on this thread has made to answer the questions above .... I OBVIOUSLY kow that there are no black/white rules to trading PA or to answer questions on how price is approaching, but i think a general idea would help ...

I hope i havent flooded this thread with a lot of my BS ... Lol ... Nonetheless i appreciate your help and all the others with their input...

Thanks!

Cheers.
  • #2,637
  • May 18, 2012 5:47am May 18, 2012 5:47am
[quote=fxganstah;5679827]
Quoting Ifmyante

(This is in rerply to post #2035)

Hi IF,

Im new to this thread, and very much grasping the concept of PA ... I appreciate all your help for us newbs..

I have a few questions if i may ask ..

2 important things i read about everywhere are compressions (cp) and flags ... Im finding it difficult to understand the importance of these 2 during price action setups or what to do when price approaching them...

Could it be possijble to exeplain what is the meaning/relevance (not definition) of compression...
Hi Gansta and welcome.

You really have me stumped on that question, as there's no way to answer it without explaining everything I've learned about the market in one go.
I'm pretty sure (but becoming less certain by the day) that in this thread I've told everything I know so far.

I've often wanted to do a complete course in reading and trading the market for complete newcomers to seasoned traders, but that, I'm sure, would take more time than I can afford to spend.

For now, at least, take a look through Mel's list of posts above (I'll be scouring them myself over the weekend). I'm sure you'll find some answers in there

Best

If
  • #2,638
  • May 18, 2012 5:50am May 18, 2012 5:50am
Quoting fxganstah
compressions (cp) and flags ... Im finding it difficult to understand the importance of these 2 during price action setups or what to do when price approaching them..
Welcome. Sorry to but in.. but for the newer traders to this thread (or PIE for that matter).. CP and flags have been explained repeatedly, which is good imo because something new can be extracted from each new explanation. But I think it can only be a good thing for the learner if they did a search for 'flags' and 'compression' on both PIE and PIE chat and possibly search it under the names of IF and RED.

I apologize if this sounds patronizing but there are so many valuable posts that get left behind.

..
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  • #2,639
  • May 18, 2012 6:01am May 18, 2012 6:01am
[quote=fxganstah;5679827]...[quote]

Just keep marking everything on your charts and see how price reacts.

Takes a lot of time and effort, but when it clicks you will be happy you did.
  • #2,640
  • May 18, 2012 6:16am May 18, 2012 6:16am
Lol .. Yea i thought it was a bit out of the way for what i was asking ...

Thnx for the input guys .. I appreciate it...

So much to read, so little time ... If only there were like a fat ebook! Haha

Thanks again guys, it does help with all your patience and inputs...

Cheers
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