Price is Everything Chat Room

I totally agree

Thanks kruger, market is open now and action has started.

EU is in an interesting place on the longer term views, being in Monthly and Weekly Demand, should we be looking for longs up to 1.3000 before more shorts? PA will tell the story I'm sure

eur index at a decision level...rebound or a breakout!

Goldy and sorry there is no SL for this one and TP is fixed at the marked up zone..for now.

Hi all,

Work has been rather selfish lately and i've been out of the game somewhat. finding it hard to get back into it too..... anyway.... silver h4 qm at a wonderful area.

Crude Short from H4 supply.
please suggest possible TP
Is my demand zone correct?

I think i may have missed this one!

Good thing i waited for Price to arrive at the zone, as in times gone past - i would have put a limit order there and got stopped out with the fact it spike through.

PRZ on Gartley pattern that coincides with nice demand level.

Yes, in that TF it looks good. Good level on D1 too

Some possible trouble areas on chart

hi everybody!!
my cureent sp charts.comments,discussion are welcome.
price found some resistence and looks compress and spiked demand level therfor we can see a nice drop. will look for current pa to triger a short.
but if price can brk recent high than i expect it to visit higher supplys above.

Short it.

Is she going to hold?

Thank If
closed my short @82.24
nice start in the beginning of new month

Looks like it is starting to wedge into the zone. Next down bar will be good opp for longs with proper risk in mind.

Nicely done, J

Re your first sell - I'm really impressed at your nerve holding the 200 p dd.
I certainly can't advocate it, as I like to suffer minimal dd, but I'm always delighted to see it end well

Hi - E/A long on daily with likely turning points on 60M - any feedback appreciated -thanks

Hi Venice,

Are you able to explain ( or point me in the right direction ) regarding the value of price 'wedge'ing into a zone? is this basically the same as compressing into the zone? I did take a nice scalp from that zone, but it was only after more bullish bars and hence my entry wasn't as nice as it could have been - probably left a good 10 pips on the table.

Just keen to know how/why you might buy on a down bar so confidently, and what preceding PA was telling you to make you more confident.

Hope you had a good trading session

Seb

Hi Seb,

Well, if you haven't noticed in here, I advocate R:R big time. I hate taking a bigger loss than I have too. I know they are inevitable, so I am very picky about the choices that I make in entering trades. This tends to make me buy on down bars, and sell on up bars. I'd rather sit on my hands and watch price rocket off without me, then make a higher risk trade. This is especially important when people like me are on the bigger the time frames. H4 - D1 is my sauce... and a 50-100 pip loss is not uncommon.

Now... as price wedges into a zone like it is doing here it is doing a few things. First and foremost, it is losing momentum. We may still be making HL's and LL's... but they are just little at a time. This tells me that selling pressure hasn't let up yet... BUT they are not doing a very good job of succeeding as well. As always, this could mean we are at a new bottom. It could also mean we fall off the edge of the Earth.

In this particular instance, on the hourly bar we created a low with a candle body that was nearly 50% retraced. Sometimes it means something, sometimes it doesn't. With that being said, it now created a low for me to base my next long off of risk wise. It's as simple as "The closer, the better".

Yes, I know that is not the bottom of the full zone. I am more than content on being stopped out and buying lower if price offers it and the zone isn't invalidated.

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I know I have deviated from your original question, but I can ramble sometimes I like to get this information out there so that hopefully at least a few people can benefit from it.
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I don't like to make trading complicated. I see PA create new levels, and those levels are then now where my risk resides. If I am wrong... on to the next. If I am right... it'll pay for some losses then some One thing that really helped me was actually learning to take losses. Sometimes price screws around in a zone longer then it really needs to. This is the chop that we are all so familiar with. Place your bets, get knocked out from stops, and price goes in your original direction without you. It's why I started clearly defining my zones, and my orders are closed out on a confirmed break of those zones. I don't mind stepping away from the computer while price figures out what the heck it wants to do.

PS. The euro is starting to not really look like much of a wedge anymore... but it still doesn't negative the fact that there is a fight going on at these levels. Place the bets, let's see where she goes.

Aussie seems to have some bit of an ascending triangle going on (15,). These things have been popping up all over the place lately. Ascending and Descending. Love them. The last breakout on the H4 was an Ascending.

Thanks for that Venice - much appreciated.

Really enjoying this thread, and learning

The road is long and ever so winding. For all of us. Eventually the scenary makes it all worth the while.