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Beyond the Candles

  • #761
  • Aug 19, 2012 2:49pm Aug 19, 2012 2:49pm
@livindaylite

Placing "the lines" requires practice.
One day if I find the time I might cobble an article about it together.

For now, consider this:

1) You can ignore drawing lines that don't regard where price is currently running.

2) Go on M and zoom out. Start from the left and only draw:

- Lines that act as S and / or R of medium / large RMs
- Lines that cause the trend to invert, not just to swing away and then come back and cross them shortly after.

3) Go on W and repeat the above. If a W line is very close to a M line then consider M is stronger. Often times, M and W lines will almost overlap close to BRNs. If you see a BRN within 20 pips or so, you may draw the BRN and leave the W and M out.
  • #762
  • Aug 24, 2012 9:08am Aug 24, 2012 9:08am
I was wondering if there's anyone here who trades shares (CFD) based purely on candlestick analysis..?
  • #763
  • Sep 1, 2012 2:35pm Sep 1, 2012 2:35pm
WPD+WPG

Looks like price stock in Monthly RM and started consolidate.
We have to wait for trend line break and set our position.

D+W is up trend, but it looks like pullback and price start to change direction slightly.

What do you think about this scenario ?
Attached Image (click to enlarge)
Click to Enlarge Name: 2012-09-01_21-20_EURGBP.png Size: 32 KB
  • #764
  • Sep 2, 2012 4:56pm Sep 2, 2012 4:56pm
This thread has helped my trading immensely , thank you fx group. My question is off topic and if you don't want to comment , thats fine ....
Was just curious how you invest/trade your accumulated wealth...like would it be a diversified asset allocation or mostly in cash waiting for the next trade opportunity ?
  • #765
  • Sep 3, 2012 6:26am Sep 3, 2012 6:26am
Quoting Dariusz
WPD+WPG

Looks like price stock in Monthly RM and started consolidate.
We have to wait for trend line break and set our position.

D+W is up trend, but it looks like pullback and price start to change direction slightly.

What do you think about this scenario ?
The M closed as an IB at the previous RM' S...so this tells me that we have a seller's exhaustion and the buyers will try to make a RM into the previous (bearish candle)'s range !
Attached Image (click to enlarge)
Click to Enlarge Name: EG.png Size: 39 KB
Nothing personal,just business
  • #766
  • Sep 3, 2012 4:46pm Sep 3, 2012 4:46pm
Quoting fxgroup
The M closed as an IB at the previous RM' S...so this tells me that we have a seller's exhaustion and the buyers will try to make a RM into the previous (bearish candle)'s range !
Hello fxgroup,

Thank's for prompt answer !

EURGBP

Well, it looks like, but if you set your position wouldn't be better to wait till price brake support 78.401 as we trade accordingly with trend ?
  • #767
  • Sep 4, 2012 3:13am Sep 4, 2012 3:13am
Quoting decades
This thread has helped my trading immensely , thank you fx group. My question is off topic and if you don't want to comment , thats fine ....
Was just curious how you invest/trade your accumulated wealth...like would it be a diversified asset allocation or mostly in cash waiting for the next trade opportunity ?
Glad to be useful !

When you fix to yours rules ( MM rules also ) you have to stick with it and not invest more that your rules let you to do....but you should always consider the ALLREADY BANKED PROFIT !....in poor words...if you are fine with no more than 3%, you should invest a maximum of 3% of your banked capital (and protected by your SL) and not capital+ profit still runnind !
Nothing personal,just business
  • #768
  • Sep 4, 2012 6:44am Sep 4, 2012 6:44am
The P stuck in RM with BUOB @ the S level.
The SWs inside the RM formed MM levels where we could wait for the RETs and the RM'R becomed our final TG.
Attached Image (click to enlarge)
Click to Enlarge Name: ga.gif Size: 35 KB
Nothing personal,just business
  • #769
  • Sep 4, 2012 12:24pm Sep 4, 2012 12:24pm
[quote=Dariusz;5981242]
Quote

EURGBP

Well, it looks like, but if you set your position wouldn't be better to wait till price brake support 78.401 as we trade accordingly with trend ?
Untill the P remains within the W RM for me only way is sell at 0.7950 otherwise is untouchable !
Attached Image (click to enlarge)
Click to Enlarge Name: eg.png Size: 43 KB
Nothing personal,just business
  • #770
  • Sep 4, 2012 1:47pm Sep 4, 2012 1:47pm
As I said many times the simplicity is one of the most important trading factor that works for me....every time I got complicated, my account doesn't felt very comfortable !
I know it does sound as a clichè but: SIMPLIER= BETTER !
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd0409.png Size: 41 KB
Nothing personal,just business
  • #771
  • Sep 4, 2012 1:59pm Sep 4, 2012 1:59pm
[quote=fxgroup;5983990]
Quoting Dariusz
Untill the P remains within the W RM for me only way is sell at 0.7950 otherwise is untouchable !
As you mentioned, buyers try to go till previous RM berish candle range, which reach till 80.800, but W 79.5 looks like first resistance, Am I right ?

Is not firmer to wait till price reach highest point of M RM ?

I know W Res is good place as well, but with D confirmation.

Regards.
  • #772
  • Sep 5, 2012 9:18am Sep 5, 2012 9:18am
EURNZD....interesting to watch...and.... not only !
Attached Image (click to enlarge)
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Nothing personal,just business
  • #773
  • Sep 5, 2012 12:48pm Sep 5, 2012 12:48pm
Hello fxgroup,
I following this thread for a while, and in your posts, I see many similarities to my strategy.
Stay on the right path, and maybe soon I put a picture of trading.
  • #774
  • Sep 7, 2012 3:22am Sep 7, 2012 3:22am
CADJPY

One of the common patterns is the triangle as dynamic RM.
We don't care what the price doing in the middle of it, we are interested to read the price at the RM's R and S.
On the chart bellow we see how the P at the S made one of the most important concept in trading: DB.....DB+ DT are those market's structure that start forming the RMs and represent the earlier way to recognize the RMs !
Attached Image (click to enlarge)
Click to Enlarge Name: CADJPY.png Size: 52 KB
Nothing personal,just business
  • #775
  • Sep 7, 2012 5:31am Sep 7, 2012 5:31am
Hello fxgroup,

NZDUSD

possible DB ...right?
Attached Image (click to enlarge)
Click to Enlarge Name: 2012-09-07_12-29_MetaTrader.jpg Size: 56 KB
  • #776
  • Sep 10, 2012 9:13am Sep 10, 2012 9:13am
Quoting adriaticFX
Hello fxgroup,

NZDUSD

possible DB ...right?
The problem is the location....NZDUSD is in a triangle pattern and we are waiting the PA at the pattern's S/ R ...right now the P is at R and the P shows us strong buyers at the R....the place where we want to see some bearish PA instead !
Let me know if it's clear...!

P.S. If you look closely...the M is a PB bearish, meanwhile the W is a bullish reaction, so we have to wait to see if the M sellers will win the battle for the W RM.
I will put some charts in order to show how the DB/ DT starts forming the RM !
Attached Image (click to enlarge)
Click to Enlarge Name: NU.png Size: 56 KB
Nothing personal,just business
  • #777
  • Sep 10, 2012 2:38pm Sep 10, 2012 2:38pm
Hello fxgroup,

Thanks for explaining the situation, and I hope I'm not boring you, because I think that without the practical issues we will never learn.

I really appreciate your contribution to a better understanding of the PA!
  • #778
  • Sep 13, 2012 7:37am Sep 13, 2012 7:37am
The double tops ( DT ) and double bottoms ( DB ) are inversion patterns...but..before making inversion DT+DB are those market's pattern that start forming the RM's formation.
A very simple way to early identify the RM is looking for DT and DB (there are some other different ways that we will study them forward in the thread ).
So...in order to have a DB we must have 2 swings at S + 1 swing at R,
...in order to have a DT we must have 2 swong at R + 1 swing at S.

Let's see a chart...
Attached Image (click to enlarge)
Click to Enlarge Name: RM1.png Size: 55 KB
Nothing personal,just business
  • #779
  • Sep 20, 2012 10:37am Sep 20, 2012 10:37am
Hello fxgroup and all participants of this wonderful thread.

I am new to this thread and new to FF (forexfactory). I used to visit FF only to check the news calendar ant actual releases and I accidentally discovered this thread. It took some time to read all the posts ant it is huge pile of information to process, so please forgive me if I miss something (special thanks to dfumagalli for his great summary posts that helped me a lot).

Below is my analysis and entries that I took earlier this month on GBP/USD:

M WPD = Dynamic RM
W WPD = 2WPB + PB (double bottom?) at M Dynamic RM S

(1st entry)
W WPG = after W close above WR confirmation to M RM R
D WPG = after RET PB bullish confirmation (target BRN)

(2nd entry)
W WPG = after W close above BRN confirmation to M RM R
D WPG = after RET PB bullish confirmation (target WR)
I wonder if 2nd entry was valid, because the D PB closed below BRN?

Your comments are very welcome.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbp_usd_mn_20120920.jpg Size: 86 KB
Click to Enlarge Name: gbp_usd_w1_20120920.jpg Size: 107 KB
Click to Enlarge Name: gbp_usd_d1_20120920.jpg Size: 86 KB
  • #780
  • Sep 20, 2012 11:33am Sep 20, 2012 11:33am
Nice trade, who is your broker?
My candles for daily on this pair look diferent - Oanda
Attached Image (click to enlarge)
Click to Enlarge Name: usdgpb_daily.png Size: 34 KB
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