Technical Analysis Fallacy
- #34,883
- Jul 16, 2012 10:56am Jul 16, 2012 10:56am
- Joined Jul 2011 | Status: an ant working the structure | 3,248 Posts
-be careful about what you allow to be put in your mind-
- #34,885
- Jul 16, 2012 11:32am Jul 16, 2012 11:32am
- Joined Oct 2011 | Status: quo | 4,193 Posts
As Above, So Below
- #34,886
- Jul 16, 2012 11:54am Jul 16, 2012 11:54am
- Joined Jul 2011 | Status: an ant working the structure | 3,248 Posts
-be careful about what you allow to be put in your mind-
- #34,887
- Jul 16, 2012 11:57am Jul 16, 2012 11:57am
Hello Fti and trading friends.
I am trying to find some information about entry setups. I have covered the 'dancing along the trend' concept, which I assume, based on the HH -HL for uptrend and vice versa for dt., momentum, pulse, exhaustion of the trend, etc.
On the other hand, I remember FTI mentioning supply and demand concepts. So i am trying to mix these and figure out the best setup for entry. (btw, yesterday i posted an EU chart with my entries and possible reversal points, tp points based on S&D, which worked pretty good).
today i am...
The blue bars and other lines on your chart will add to confusion. They help to reinforce to the brain that these are low points or areas of significance. They help to convince you of taking trades in this area. I think it would help if you did not have them and instead pay more attention to the "flow of the move"
Regarding your current trade you say that you are not expecting a break through of the current low, but really we dont know this and cant say that, all we can do is observer price action at that level once/if it gets there.
You are buying into strong downward pressure so must be careful. I think it would be prudent to monitor closely at those levels and wait for the downward pressure to finish, and for the upward side to begin to attempt your rescue. It may or may not stop at the recent low, most monitor it but do not create a bias before it happens as we are not sure... hope makes sense?
Only my thoughts I am not necessarily right
- #34,888
- Jul 16, 2012 12:15pm Jul 16, 2012 12:15pm
- Joined Oct 2011 | Status: quo | 4,193 Posts
Hey tashkent,
The blue bars and other lines on your chart will add to confusion. They help to reinforce to the brain that these are low points or areas of significance. They help to convince you of taking trades in this area. I think it would help if you did not have them and instead pay more attention to the "flow of the move"
Regarding your current trade you say that you are not expecting a break through of the current low, but really we dont know this and cant say that, all we can do is observer price action at that level once/if it gets...
about "flow of the move", i am trying to feel that flow, but it looks like will come with experience. i still do not feel it in my venues, that's why refer to horizontal S&D lines.
Yes, i am aware that there is a strong downward movement, so i am watching closely for any sign of weakness and then i should have a courage to make a killing.
As Above, So Below
- #34,889
- Jul 16, 2012 12:21pm Jul 16, 2012 12:21pm
Acs, thanks for insight, what you wrote is sound. the lines are smth that i use most of the time, and has become a habit, so not easy to give up in a short time
about "flow of the move", i am trying to feel that flow, but it looks like will come with experience. i still do not feel it in my venues, that's why refer to horizontal S&D lines.
Yes, i am aware that there is a strong downward movement, so i am watching closely for any sign of weakness and then i should have a courage to make a killing.
when you look at the price and see it heading in the wrong direction from your trade entry...are you just happy...or do you feel stressed about it a bit....are you looking at the price knowing that its just gonna keep heading further and further away from your entry....
do you feel worse and worse the further away it gets...
well that is you dancing.....but you should maybe have noticed all that before you put the entry on...
but your entry was probably based on logic rather than feel.
i too have done that many times..
i hope this trade is not very much money.
like i said i am no expert...but i know that your feeling the dance...its just not a very pleasant dance....its break dance..
- #34,890
- Jul 16, 2012 12:42pm Jul 16, 2012 12:42pm
- Joined Oct 2011 | Status: quo | 4,193 Posts
eblip, thank you my friend.
you are on spot, actually what i really want is the price to go little more in opposite direction of my entry. i want it lower so that there will be a chance to grab it at better price.
my position is negligible, it does not have much effect to my balance. at the moment i do not see any reason why price should drop dramatically, however i am carefully watching the flow.
and to be honest, i am having difficulty to differentiate between the logic and the feeling.
you are on spot, actually what i really want is the price to go little more in opposite direction of my entry. i want it lower so that there will be a chance to grab it at better price.
my position is negligible, it does not have much effect to my balance. at the moment i do not see any reason why price should drop dramatically, however i am carefully watching the flow.
and to be honest, i am having difficulty to differentiate between the logic and the feeling.
As Above, So Below
- #34,891
- Jul 16, 2012 12:43pm Jul 16, 2012 12:43pm
- Joined Jul 2011 | Status: an ant working the structure | 3,248 Posts
-be careful about what you allow to be put in your mind-
- #34,892
- Jul 16, 2012 1:07pm Jul 16, 2012 1:07pm
- Joined Oct 2011 | Status: quo | 4,193 Posts
Hi tashkent
I have to agree with acs 112, it looks against you AND no major news due for another 17 hours on that pair so there is no reason for it change direction unless something unexpected happens and then you would only be gambling that the news was in you favour.
Your lines and indy will only edge you on to trade on hope, that is about as good as trading on luck.
from my understanding when s+d is referred to, it is the present s+d not the past.
In one of fti's posts he said 'how would you trade if you had no historical data' or words along...
i am back to reading the thread from where i was left to clear my mind...
thanks friend.
As Above, So Below
- #34,894
- Jul 16, 2012 1:23pm Jul 16, 2012 1:23pm
- | Joined Nov 2008 | Status: Trader | 2,047 Posts
eblip, thank you my friend.
you are on spot, actually what i really want is the price to go little more in opposite direction of my entry. i want it lower so that there will be a chance to grab it at better price.
my position is negligible, it does not have much effect to my balance. at the moment i do not see any reason why price should drop dramatically, however i am carefully watching the flow.
and to be honest, i am having difficulty to differentiate between the logic and the feeling.
- #34,895
- Jul 16, 2012 1:34pm Jul 16, 2012 1:34pm
- Joined Oct 2011 | Status: quo | 4,193 Posts
As Above, So Below
- #34,896
- Jul 16, 2012 1:41pm Jul 16, 2012 1:41pm
- | Joined Nov 2008 | Status: Trader | 2,047 Posts
An old Cherokee told his grandson: "My son, there's a battle between two wolves inside us all. One is Evil. It's anger, jealousy, greed, resentment, inferiority, lies and ego. The other is Good. It's joy, peace, love, hope, humility, kindness and truth." The boy thought about it and asked: "Grandfather, which wolf wins?". The old man quietly replied: "The one you feed."
Best regards friend
- #34,897
- Jul 16, 2012 8:06pm Jul 16, 2012 8:06pm
- | Joined Oct 2010 | Status: Trader | 1,539 Posts
....
i understand .....the market is war...life and death out there.
ill keep my mind more focussed.
thanks gro
- #34,899
- Edited 10:37pm Jul 16, 2012 10:02pm | Edited 10:37pm
- Joined Nov 2007 | Status: Trader | 19,782 Posts
still isp crawling.
maybe solved next week.
fiber com and p2p normal now, so trading not affected.
only internet and some charts.
so i will not be around until these solved.
also need change 1 isp, they different companies, but on same service.
not so different from your brokers
so as per normal, need dump the errant and let them go bankrupt, go home plant potatoes.
support that which is good grow.
they would probably threathen the potato plant.
No potatoes, no water.
Thank God he's still in control.
;rofl: not war?
tell Jpmorgan that.
2 billion loss now tops 5+billion
may go 7+
but they can afford it la.
is a musical chairs, those no seat eliminated.
regards
maybe solved next week.
fiber com and p2p normal now, so trading not affected.
only internet and some charts.
so i will not be around until these solved.
also need change 1 isp, they different companies, but on same service.
not so different from your brokers
so as per normal, need dump the errant and let them go bankrupt, go home plant potatoes.
support that which is good grow.
they would probably threathen the potato plant.
No potatoes, no water.
Thank God he's still in control.
;rofl: not war?
tell Jpmorgan that.
2 billion loss now tops 5+billion
may go 7+
but they can afford it la.is a musical chairs, those no seat eliminated.
regards
- #34,900
- Jul 17, 2012 6:00am Jul 17, 2012 6:00am
- Joined Oct 2011 | Status: quo | 4,193 Posts
Hello Fti and trading friends.
I am trying to find some information about entry setups. I have covered the 'dancing along the trend' concept, which I assume, based on the HH -HL for uptrend and vice versa for dt., momentum, pulse, exhaustion of the trend, etc.
On the other hand, I remember FTI mentioning supply and demand concepts. So i am trying to mix these and figure out the best setup for entry. (btw, yesterday i posted an EU chart with my entries and possible reversal points, tp points based on S&D, which worked pretty good).
today i am attaching...
just an update. war plan played out. sent twice rescue troops, (5 units each, i know that was very aggressive). exited with good profit. scout came back with little profit, i can say at BE. now planning play reverse. altogether with other trade (short EU) account is up %9.
I am not going to stop reading this thread anytime soon. where i was before?
As Above, So Below