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Price is Everything Chat Room

  • #3,621
  • Jul 10, 2012 7:10pm Jul 10, 2012 7:10pm
Quoting whiteout
Nice to see some spoiler from the new AG.

Before anythingh elese could you give me a sanity check, just to see if i have understood.
Quoting FX.Sniffer
I assume you wonna get to this...and ask whats the difference!
Damn sniffer you cought me!!!!

yeah, somethingh as you drawn.
You know, some months ago when i was trying to understand the meaning of "forex", charts and all this stuff, and how to use it, i have discovered FF, the j16 treadh specifically. Wow finally!!!, nice treadh!!!! a lot of material, and theory well explained!! Nice, a lot to study !! but after a while i feel a little unconfortable about candlestick, pinbar, support resistance and all that stuff...yeah they work.. and very well, but why the hell a pinbar or a rejection candle could have the same shape ? why y wonna see a pinbar whit a lot of space ?? and why s/r reverse ? Then i started to read some books, prings books and others..yeah well nice but..still unconfortable, and whit some more question, what the meanings of a resistence that become more "significative" touch after touch ? more the better ? or not ? and still why they reverse to support ? [prings for example offer a psychological reason - quite similar to the chart that emene have posted - if i have understood that chart]. After my first weeks of demo i was able to take even some nice profit [in demo obviously].. wait a pin a beob and push the button..but i was more confused than before. Zero confidence.
Then i have read a post of a guy called ifmyante on j16 -was about hedging and locking a profit, he cited a certain "kenny" as a master of hedging*..who is this damn kenny ? little research RTP, PIE and bam! epiphany!!! It's SIMPLE! It's about people who sell and buy, that's it! It's quite obvious right ? But, damn whit that obvious thing in mind all makes more sense
A chart is just a graphical rapresentation of that! nothingh else! BUOB BEOB PINBAR works but they are a sort of lagging indicator becouse they show you the past. If you understand the dinamycs behind it you can talk about support resistence supply demand zone or timoty zone, simply doesn't matter, it's about people who buy and sell, you wonna understund why they buy and sell in a certain zone, that's it.
Obvoiusly i am a noob, i am here to learn and i am always ready to change idea, expecially after great people whit experience and will to share like emene or tyoon shown their ideas..but my sensation is that we are talking about the same..the proverb said "there is more than one way to skin a cat", right ?
sorry for the long post and bad eng.


*and ironically i have "discovered" forex and market making a research about hedging on google, for reason that have nothingh to do whit forex or the idea to trade.
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Sometime the horizon disappear. Twitter: @_whiteout
  • #3,622
  • Jul 10, 2012 7:13pm Jul 10, 2012 7:13pm
Textbook while I was sleeping
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  • #3,623
  • Jul 10, 2012 8:02pm Jul 10, 2012 8:02pm
Quoting whiteout
Damn sniffer you cought me!!!!

yeah, somethingh as you drawn.
You know, some months ago when i was trying to understand the meaning of "forex", charts and all this stuff, and how to use it, i have discovered FF, the j16 treadh specifically. Wow finally!!!, nice treadh!!!! a lot of material, and theory well explained!! Nice, a lot to study !! but after a while i feel a little unconfortable about candlestick, pinbar, support resistance and all that stuff...yeah they work.. and very well, but why the hell a pinbar or a rejection candle...
You've come a long way in a short space of time

Can't wait for your lesson on Jeremy Zones
  • #3,624
  • Jul 10, 2012 8:09pm Jul 10, 2012 8:09pm
Quoting beebolbod
This is superb. I never saw it like this before.
Me neither!

Guys, I am no expert at this, but it sure seems like the fog is lifting in a big way!

I'm looking at price now. It has already pierced my D1 Demand line, but D1 is flagging now suggesting continuation? Time will tell.

But look back at this level in July 2010, the last time price was here. Zoom in to M5 and see exactly where the decisions were made and where price reacted today.

First chart is D1 where I drew original D1 demand lines in July 2010.

Second chart is zoomed in to M5, showing the decisions made and how I adjusted my D1 line.

Third chart is M5 today - look where price reacted - TO THE PIP!! From 2 years ago!

If - all credit to you and your vids, without which I would never be able to look at charts this way.
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Luck occurs when preparation meets with opportunity.
  • #3,625
  • Jul 10, 2012 8:13pm Jul 10, 2012 8:13pm
Quoting AlienFrog
Me neither!

Guys, I am no expert at this, but it sure seems like the fog is lifting in a big way!

I'm looking at price now. It has already pierced my D1 Demand line, but D1 is flagging now suggesting continuation? Time will tell.

But look back at this level in July 2010, the last time price was here. Zoom in to M5 and see exactly where the decisions were made and where price reacted today.

First chart is D1 where I drew original D1 demand lines in July 2010.

Second chart is zoomed in to M5, showing the decisions made and how I...

Simplicity is key, no?
  • #3,626
  • Jul 10, 2012 8:33pm Jul 10, 2012 8:33pm
Quoting Ifmyante
You've come a long way in a short space of time

Can't wait for your lesson on Jeremy Zones

I just Googled 'Jeremy Zones'
  • #3,627
  • Jul 10, 2012 8:59pm Jul 10, 2012 8:59pm
Quoting Frxter
I just Googled 'Jeremy Zones'
Much better than asking "What's a Jeremy Zone?"
  • #3,628
  • Jul 10, 2012 10:38pm Jul 10, 2012 10:38pm
Quoting emene
Here you go. Put these two tools in your bag and smile. I could say that SR is the trapped SD traders getting out, thus reversing their orders, and SD zones new orders defining new values of interest.
They say a picture is worth a thousand words - so Emene - in reference to that little nugget you posted:
Attached Image
- Look to the left, Trade to the right - I am the system
  • #3,629
  • Jul 11, 2012 12:53am Jul 11, 2012 12:53am
Hi all,
In my Quasimodo spotting mode again ( they really are everywhere aren't they! )

This one on Gold - I see there could be 2 potentials for the reversal ( more obvious on lower timeframes ).

Again, will see how price approaches as to whether i leave my order where it is.
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- Look to the left, Trade to the right - I am the system
  • #3,630
  • Jul 11, 2012 2:04am Jul 11, 2012 2:04am
Quoting Sebastiaan76
Hi all,
In my Quasimodo spotting mode again ( they really are everywhere aren't they! )

This one on Gold - I see there could be 2 potentials for the reversal ( more obvious on lower timeframes ).

Again, will see how price approaches as to whether i leave my order where it is.
Hi Seb;
I hope I am not wrong, but for a QM to develop in this case Gold has to take out the 1602 high first.
  • #3,631
  • Jul 11, 2012 2:15am Jul 11, 2012 2:15am
Here is an example
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  • #3,632
  • Jul 11, 2012 2:51am Jul 11, 2012 2:51am
AUD/CHF daily.
Hello.
  • #3,633
  • Jul 11, 2012 3:05am Jul 11, 2012 3:05am
Quoting hometrading
Hi Seb;
I hope I am not wrong, but for a QM to develop in this case Gold has to take out the 1602 high first.
Hey Home

I think that would be the case for a bullish Quasi - My thinking was a bearish one - ie the 1600 high is the head and the 1590.50 area is the left shoulder, so if price hits that shoulder level, it could move further down.

The QM is valid as price made a lower low down to the 1563.80 level
- Look to the left, Trade to the right - I am the system
  • #3,634
  • Jul 11, 2012 3:14am Jul 11, 2012 3:14am
Quoting Sebastiaan76
Hey Home

I think that would be the case for a bullish Quasi - My thinking was a bearish one - ie the 1600 high is the head and the 1590.50 area is the left shoulder, so if price hits that shoulder level, it could move further down.

The QM is valid as price made a lower low down to the 1563.80 level
My apologies, you are absolutely right. It is a QM within a QM. If you look back at my chart and use the High above the High that I marked as the HH, there is another one (bearish) that worked out nicely.

BTW did you see where Gold just turned (at the Low preceding the HH)
  • #3,635
  • Jul 11, 2012 3:15am Jul 11, 2012 3:15am
Quoting hometrading
My apologies, you are absolutely right. It is a QM within a QM. If you look back at my chart and use the High above the High that I marked as the HH, there is another one (bearish) that worked out nicely.
We are both right - and are therefore equally awesome

I'm more watching AU 1.02600 Supply zone. Looks juicy.
- Look to the left, Trade to the right - I am the system
  • #3,636
  • Jul 11, 2012 3:39am Jul 11, 2012 3:39am
Hi guys,

Nice conversation about S/R and S/D, I enjoyed reading it.
It made me think about what I was told in the begining of trading "carriere" ...
I was told that the more touches you saw on a support/resistance line, the more powerfull it was. "See it as a strong roof that can't be broken" Yeah, alright!! I should have done just the opposite, that would have saved me time and money, lol!

How I see things now is certainly very different. For me a FRESH zone is really what we call a swap level, because it was a previous supply or demand zone that got broken and became the opposite, therefore it is still Fresh. On the other hand a support or resistance is indeed (at least to me) a "potential" attempt to break a previous supply or demand, since it is consuming the orders untill there is no orders anymore....

I am not saying that one can't trade a second or third visit of a supply/demand level, I am just saying that we just know that the chances that the level will hold decreases by every re-visit. So in a way this the "trap" to me.

Just my 2 cents...
Mel
  • #3,637
  • Jul 11, 2012 3:46am Jul 11, 2012 3:46am
While I'm waiting to short AU, another good example of Supply/Demand Flip
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- Look to the left, Trade to the right - I am the system
  • #3,638
  • Jul 11, 2012 3:51am Jul 11, 2012 3:51am
Quoting whiteout
Then i have read a post of a guy called ifmyante on j16 -was about hedging and locking a profit, he cited a certain "kenny" as a master of hedging*..who is this damn kenny ? little research RTP, PIE and bam! epiphany!!! It's SIMPLE! It's about people who sell and buy, that's it! It's quite obvious right ?
Right and almost the same to how I found them.

Quoting whiteout
BUOB BEOB PINBAR works but they are a sort of lagging indicator becouse they show you the past. If you understand the dinamycs behind it you can talk about support resistence supply demand zone or timoty zone, simply doesn't matter, it's about people who buy and sell, you wonna understund why they buy and sell in a certain zone, that's it.
I don't disagree with you about the candle patterns, but my point about differentiating between S&D and S/R is one major and important issue...and that to clear it to anyone who has been using the conventional teachings of S/R and now looking at a S&D chart and thinking "what the hell!!! it's S/R in a box instead of a line", this what happened to me few years back when I saw Sam's and red's charts...if you remember my below post about S&D vs S/R vs PPZ...I did it because I myself really wish if a couple of years back someone would've knocked on my head and forced me to look at it and see the small difference. I'm still regretting the waste of time before i made myself a favor and explored the world of S&D...many thanks to Ifmyante.

Quoting FX.Sniffer
I wanted to show the difference between S/D, SR, and PPZ on charts as pictures speak louder than words.
IMHO there will always be a difference between S&D and S/R specially when it comes to the trading technique even if its a slight difference. Look at the latest charts by hometrading and how he's using it.

Hope I cleared my point of view
Sniffing Snake's Tracks...
  • #3,639
  • Jul 11, 2012 4:01am Jul 11, 2012 4:01am
Quoting @mel
Hi guys,

Nice conversation about S/R and S/D, I enjoyed reading it.
It made me think about what I was told in the begining of trading "carriere" ...
I was told that the more touches you saw on a support/resistance line, the more powerfull it was. "See it as a strong roof that can't be broken" Yeah, alright!! I should have done just the opposite, that would have saved me time and money, lol!

How I see things now is certainly very different. For me a FRESH zone is really what we call a swap level, because it was a previous supply or demand...
Confirming my point thanks Mel.

IMO for any newbie or even an experienced trader who's starting to learn S&D or better as a method of attraction to learn it, there should be a list of S&D vs. S/R where he/she can have their aha moment.
Sniffing Snake's Tracks...
  • #3,640
  • Edited 4:28am Jul 11, 2012 4:09am | Edited 4:28am
lets see how this goes

EDIT: out at BE - maybe it wants to go a little higher?
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- Look to the left, Trade to the right - I am the system
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