Beyond the Candles

Not sure what you mean.......

marshy.

Let's focus on learning charts....AUDJPY !

Hi fxgroup, great charts and posts, welcome also to Peter from me....

NZDUSD M,W,D.....but this pair has already been dealt with very well.

More coming soon.

Michael

Hello to you Micheal...

Peter.

Practice - WPD/WPG...????????? no trading

Peter.

More practice...

Hi fxgroup, any thoughts on how we should trade this?

Peter.

Silver very similar...

Peter.

More Practice

Peter.

I have to say that I like gold and this is what I'm looking for !

Hello fxgroup and all other contributors - I wish a very good coming week.

Not much on Monday, I am looking for a move in USDCHF back to 0.9306 roughly. Lets see if this works out. Patience !

Interesting GOLD chart, I am watching.....thank you !


Michael

How do you set your SL and do you expose your SL to the broker ?

It is common that most of traders expose SL to broker and set just below/above particular TF swing which is obvious for most of traders, so defence is visable for most of brokers and frequently tested.

Do you have any more sophisticated defence strategies ?

Stop orders not directly on servers, but then delay risk .

What is your opinion ?

Regards.

Currently watching AUDJPY - if 77.50 doesn`t hold we might see a drop down until 75.00 in the coming days. Let´s watch with patience....

========================

Dariusz thanks for bringing up the stops topic. Obviously we do NOT want to put our stops where everyone is placing them.

Often you will see on the chart how the upthrusts of wicks at the top of a range signal that stop hunting has taken place ( often in conjunction with a false move in the opposite direction ).....we can take advantage of this visible tactic and then

a) enter AFTER the spike move
b) wait for confirmation and then trade with such small positions that a LARGER stop distance is no problem for us.

I will look for a chart to show what I mean.

Michael

NZDUSD W & D.......we can see how sellers decisively managed to break below the dynamic trendline support.

At the moment however I would be careful with any trades, with the EU summit and so much news risk it might be better to stay out.

1.2625 key level in EURUSD to watch, if this gives way then all other commodity and risk assets might drop much further.

I wish everyone patience and common sense this week.....no trade is sometimes the best trade...:-)

Michael

P.S. " Sleep well investing " is just a joke....I had it as ad in Google recently and it made me smile. I never sell anything, of course.

And here is EURJPY D.....

Michael

Hi my friend....this is what I'm looking on EURJPY at long term...

Greetings fxgroup et all.

Thank you for starting this thread and sharing your method of understanding PRICE.

I feel like I have been through a dangerous jungle and barely escaped with my life. Then I traversed a large seemingly endless desert, chasing one mirage after another for thirst-quenching water.

Yes, I thought it would be easier, simply to follow signal providers who after years of study and practice surely knew more than I did?

Then I went and sought the holy-grail of systems and tried a few indicators for sure.

Intuitively, I knew it wasn't my style and when I heard terms like "price-action" "naked trading" and "PRICE is King" something resonated about that being REAL which pulled me in that direction. However, it also always felt so abstract, intangible and the meaning elusive; like the proverbial sound of one-hand clapping.

I turned a corner somewhat when I encountered sam seiden's Supply/Demand method as that suddenly gave the market some structure and something to hang my hat on without relying on indicators. However, I still feel like it is only part of the puzzle.

The KEY (now) for me is fluid understanding and reading of PRICE dynamics. Seeing the story behind the candles.

I feel like I am in the right place and hope to learn something even if it is just how to draw 1 s/r line as I have dilemma and questions about that alone.

I don't know whether my small account size would eventually allow me to trade Daily charts; H4 charts is a leap for me already as I imagine the SL on Daily charts to be hefty; but, that is not important right now. I have wondered whether the same principle of seeing WPD and WPG can be used to scale further down to sharpen entry on smaller TF, but again that is a consideration for another time and nor do I want to distract or dilute the method as it is taught and practiced here. Btw, I do understand the usual explanations of noise on smaller TF vs higher reliability of higher TF (just wondering aloud).


Thank you again fxgroup, and everyone who contributed for sustaining and keeping this thread going.

On to some homework.

peace,
livindaylite

[quote=msmarple;5691611]Currently watching AUDJPY - if 77.50 doesn`t hold we might see a drop down until 75.00 in the coming days. Let´s watch with patience....

Hi Michael and Livindaylite nice to see new people joining thread !

Thanks for prompt respond.
One question - what does it mean big rectangle space drawn from bullish candle on AUDJPY D chart ?

just below before is small one which might mean demand level, so that space is free to fall, am I right ?

Plenty of new stuff appeard in the thread have to look at that more closely, Thnks Marshy,Fxgroup and Michael for very good, clear charts !

Be back soon with question and comments !

Welcome and thanks for your partecipation and for your very kind words !

Put some chart and let's talk about it !

Hello and wecome aboard!

It's possible to trade on the daily bars with medium and even small accounts. In case of very small account all you have to do is to use a nano-lot broker.