Nice trade Darren,
How did you catch it on bottom?There was spike close to this level I had pending order which price missed about 8 pips.I guess you enter with limit order?(Only curious)
Definitely great call and nice confluence there.
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I took a scalp around the bottom few a pips but did not capture the move. Like you, I was expecting it to drop a little lower. Sometimes it happens like that. Its more an idea/concept that was on discussion, not a trade. I was fortunate enough to capture some of the inverse move the Swissy though.
I will try to posts some charts with map in advance as Darren did and I will see how is all goes.Hope I don't to post too much BS.I would like to learn here so any comments are very welcome.
P.s.Apologize for my English in advance is not my mother language
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Sounds good. We are all on a continuous voyage of learning.
Do not worry about your English, your charts will speak clearly enough.
One more chart.I I think on FF is some posting limitation as I couldn't upload charts.
Darren or anyone how would define risk on longs how will be your plan?I know there is nice expecting support but I am planing buy deeper.Of course depend price structure when reach exp.support.What is your thoughts?
Hooooly Doooly, we have a goodin' the makin' here.... love your charts.
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Lol thanks.But I would rather say I am big fan you and Will.As I said I didn't have much time recently so only observe posts in this thread and yours,watched Will's videos and was lucky got free training offer.
Now I have more time so I can finally start to study deeper.I understand none of the seniors want to babysite any novice but also I think you guys post to public so much great material so I need to do steps myself.Really thanks to everyone who had and will have time posts time to time some charts and thoughts I am always hungry to learn.
All the best.
One more chart.I I think on FF is some posting limitation as I couldn't upload charts.
Darren or anyone how would define risk on longs how will be your plan?I know there is nice expecting support but I am planing buy deeper.Of course depend price structure when reach exp.support.What is your thoughts?
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From what I can see on your chart, stops are fine. From there all you need is the correct position size so you know what the risk is in terms of $ or % to your account.
Hi guys,
I am sometmimes little bit confuse when Will talk about consolidation @ some important level(TL,SR).He is usually saying:If I see price start to consolidate on this level I'll probably enter into market.I don't know why but in my brain allways is something like:consolidation means consuming and then break that level.Oposite if I see some strong reaction on level means to me price will bounce from that level(there is significant buyers/sellers interest).
I know is hard to explain exactly what I mean .What you think about it?(Well if someone understant what I really mean)I attach.some drawn chart.
Thank you on advance.
Upper supply/seller zones.Zone on zone.Expecting retesting/add more sell orders and move price lower to retest lower DP where price was too cheap/buyers source if is still there some buyers interest.
Hi guys,
I am sometmimes little bit confuse when Will talk about consolidation @ some important level(TL,SR).He is usually saying:If I see price start to consolidate on this level I'll probably enter into market.I don't know why but in my brain allways is something like:consolidation means consuming and then break that level.Oposite if I see some strong reaction on level means to me price will bounce from that level(there is significant buyers/sellers interest).
I know is hard to explain exactly what I mean .What you think about it?(Well if someone...
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This is such a great question and one I struggled with as well. I understand what you mean and why you might be confused.
What I will do (not today, over the next few days) I will explain what I understand. Will can step in correct what I get wrong or add anything he feels should be added (and this will help me). Remember, what is on this thread makes up only a small portion of his complete (and totally awesome) methodology, so the information I provide will be restricted to the scope of this thread, but I think I can do that and still answer your question.
This is such a great question and one I struggled with as well. I understand what you mean and why you might be confused.
What I will do (not today, over the next few days) I will explain what I understand. Will can step in correct what I get wrong or add anything he feels should be added (and this will help me). Remember, what is on this thread makes up only a small portion of his complete (and totally awesome) methodology, so the information I provide will be restricted to the scope of this thread, but I think I can do that and still...
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Thank you Darren,
What I think after watching his videos etc.I think he likes consolidation around this levels b/c price usually reaching this levels with strong momentum b/c usually this levels are very atractive points.So price need to consolidate which means absorbing/slowing momentum and accumulating/establishng base for next bounce.
Lol I know could be crap what I said now but this is how I logicaly see this.Actually I had this thinking or feeling after when I watched his last video.
On another hand he is taking sometimes touch trades I guess.I think is about how price reaching level and watching price structure around this level.
Appologies for any confusion. My use of terms may not always be precise.
Some times price will strike and develop momo, other times it will consolidate before turning. This pa at, leading up to and around the block determines how aggresively or conservatively the level can be played. Intraday you can be more aggressive, if however you have a swing level you may choose to wait for confirmation. You can do that because of the significant target.
If you choose to go aggressive on a swing, it can take more than 1 attempt. EuroJpy took 3. On the other hand, EurGbp was a very casual affair.
Hi guys,
I am sometimes a little bit confused when Will talk about consolidation @ some important level(TL,SR).He is usually saying.....
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OK, Will gave some valuable information in his previous post. As you can see, things are relative to what is happening at the time. You can mark off a level, but there are variables like Will mentions. How price is moving to a level, how price reacts to the level, is price trending, are we at a potential swing level, etc. In addition, larger time frames impacts what plays out on the smaller time frames. News and so forth can destroy the soundest technical setups. The list goes on.
In saying all that, you do need to start somewhere. You need a base level of knowledge that is for the most part logical, reliable and predictable. From that base platform, you start building your knowledge of price action and price structure by adding to that base foundation.
For example, after learning some of this base knowledge, and getting a handle on things, Will asked me the question “What is it that separates the good traders from the great traders?” I cannot recall the exact wording of his answer, but it went something like this “A good trader knows clearly his trading rules are and can trade them with success, but a great trader knows when the rules should be followed, and when they should be ignored”…. Meaning that for every rule there are exceptions as we are not mechanical traders. That is, we use our judgment.
Why am I mentioning this in addressing your question? It’s to let you know that price generally behaves in set, repeatable ways, but there are nuisances and exceptions that take time to learn, so there is no definitive... consolidation always means price will do such and such.
You asked about consolidation at important Trend Lines and Support/Resistance levels. The other one to mention is consolidation within the context of price structure (i.e. a pattern). What I present below are some examples of consolidation and what they mean as I understand it. This is not the ‘complete guide’, it’s like an introduction to the basics and limited in scope. However, it does cover your question in sufficient detail to get you going.
The first one is for consolidation at lines,.
The second one is for consolidation at S/R levels.
The third one is for consolidation within price structure.
It took a couple of hours to draw these up.
I hope this is of some assistance.
Appologies for any confusion. My use of terms may not always be precise.
Some times price will strike and develop momo, other times it will consolidate before turning. This pa at, leading up to and around the block determines how aggresively or conservatively the level can be played. Intraday you can be more aggressive, if however you have a swing level you may choose to wait for confirmation. You can do that because of the significant target.
If you choose to go aggressive on a swing, it can take more than 1 attempt. EuroJpy took...
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Thank you Will,
I think I understand and will think about it ,write down some notes and observing on charts.
Trading with Deadly Accuracy
