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  • #4,041
  • Nov 16, 2012 6:18am Nov 16, 2012 6:18am
Quoting Quezoy
Its a harmonic pattern:
http://www.informedtrades.com/blogs/...s-pattern.html
It is different from the harmonic pattern you linked.
  • #4,042
  • Nov 16, 2012 6:19am Nov 16, 2012 6:19am
Is this 3Drive pattern?
usdcad h1.
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  • #4,043
  • Nov 16, 2012 6:23am Nov 16, 2012 6:23am
here is another explanation from if at acegazette..the 3Drive onto S/D can be a strong indication that price will turn.

It shows that price advances are slowing down, while compressing up/down, taking out orders as it goes.
Attached Image (click to enlarge)
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  • #4,044
  • Nov 16, 2012 6:41am Nov 16, 2012 6:41am
Quoting Balhana
It is different from the harmonic pattern you linked.
Cool. This makes it much clearer )
I don't need easy. I just need possible.
  • #4,045
  • Nov 16, 2012 6:47am Nov 16, 2012 6:47am
Quoting entheos
Is this 3Drive pattern?
usdcad h1.
Yes, it looks like the pattern.
  • #4,046
  • Nov 16, 2012 6:51am Nov 16, 2012 6:51am
Quoting extremerrage
here is another explanation from if at acegazette..the 3Drive onto S/D can be a strong indication that price will turn.

It shows that price advances are slowing down, while compressing up/down, taking out orders as it goes.
You are confused. "3 Drive into SD" you mentioned is different from 3 Drives Up/Down, which is about how price bounce off SD and how price removes SD one by one to proceed further. The 3 Drive into SD is about how price approaches SD.
  • #4,047
  • Nov 16, 2012 6:57am Nov 16, 2012 6:57am
Quoting Balhana
You are confused. "3 Drive into SD" you mentioned is different from 3 Drives Up/Down, which is about how price bounce off SD and how price removes SD one by one to proceed further. The 3 Drive into SD is about how price approaches SD.
You can see both "3 Taps into SD =(3 Drive into SD)" and "3 Drives Up" in the attached chart.
Attached Image (click to enlarge)
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  • #4,048
  • Nov 16, 2012 7:00am Nov 16, 2012 7:00am
Quoting extremerrage
lj what is ur opinion regarding uj? stil lholdin this trade since yesterday
I cut mine as it lost momentum and it hasn't done anything since apart from hit the H1 RBR. No real clue as to what it's going to do next.
  • #4,049
  • Nov 16, 2012 7:07am Nov 16, 2012 7:07am
Quoting Balhana
You can see both "3 Taps into SD =(3 Drive into SD)" and "3 Drives Up" in the attached chart.
I remember the triple taps from nobrainertrades , but this one is new for me !!any way your posts are always helpful bal thx a lot
  • #4,050
  • Nov 16, 2012 7:22am Nov 16, 2012 7:22am
Quoting extremerrage
here is another explanation from if at acegazette..the 3Drive onto S/D can be a strong indication that price will turn.

It shows that price advances are slowing down, while compressing up/down, taking out orders as it goes.
Lot's of text on that chart but the one key thing that explains what actually is happening is missing. Search this thread for 'accumulation or distribution' and you'll find an explanation on what that 'pattern' is.

If you know what is happening behind a pattern you can understand where to look for it and don't need to have rules like "3 similarly proportional triangles" which are on the whole are illogical and just made up to help visualise the pattern - something that is not needed if you understand what is happening there.
  • #4,051
  • Nov 16, 2012 7:45am Nov 16, 2012 7:45am
Quoting Balhana
Bought AU @ 1.0316
Closed 2/3 @ 1.0336 for +40 pips.
Attached Image (click to enlarge)
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  • #4,052
  • Nov 16, 2012 9:06am Nov 16, 2012 9:06am
Quoting Balhana
Closed 2/3 @ 1.0336 for +40 pips.
Remaining 1/3 of AU got stopped out @ 1.0309 for -7 pips (+33 pips in total).
  • #4,053
  • Edited 5:59pm Nov 16, 2012 12:37pm | Edited 5:59pm
Ending for the day, just closed out of a 1m PPZ FTB and 5m S. Shitty management meant I failed to maximise any credible R profits. (2nd chart) Target was a little too ambitious me thinks.

1st chart shorted the 5m BEOB after assuming consumption of D. Profits at just under 1R.
Attached Image(s) (click to enlarge)
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  • #4,054
  • Nov 16, 2012 1:39pm Nov 16, 2012 1:39pm
Quoting Balhana
You can see both "3 Taps into SD =(3 Drive into SD)" and "3 Drives Up" in the attached chart.
So, when's your webinar Sang?
  • #4,055
  • Nov 16, 2012 8:14pm Nov 16, 2012 8:14pm
Quoting Balhana
Closed 2/3 @ 1.0336 for +40 pips.
You`re very well.
Do you have zulutrade account?
  • #4,056
  • Nov 16, 2012 11:04pm Nov 16, 2012 11:04pm
Quoting entheos
You`re very well.
Do you have zulutrade account?
No, I don't.
  • #4,057
  • Nov 17, 2012 7:00am Nov 17, 2012 7:00am
Hey guys. I was wondering if i understand the Compression of price when it arrives into a SD area. Does (Should) this behavior of price give us more chances of a violent reversal , given that S/D was being consumed within that Compression/Wedge? That being said, i highlighted two setups on the M5 EU.

The first one i don't see any particular way that price approaches the level, so out at FTA would be best imo.
The second one, I THINK we have compression into the supply level. Should this make us more likely to hold past the FTA?

Thank you!

Attached Image (click to enlarge)
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I don't need easy. I just need possible.
  • #4,058
  • Nov 17, 2012 7:32am Nov 17, 2012 7:32am
Quoting DaGrizlyBull
Hey guys. I was wondering if i understand the Compression of price when it arrives into a SD area. Does (Should) this behavior of price give us more chances of a violent reversal , given that S/D was being consumed within that Compression/Wedge? That being said, i highlighted two setups on the M5 EU.

The first one i don't see any particular way that price approaches the level, so out at FTA would be best imo.
The second one, I THINK we have compression into the supply level. Should this make us more likely to hold past the FTA?

Thank...
What you said above is exactly right, but in the example you gave this is not occurring.

We have to remember that CP is just the squeezing of price, often in a converging wedge. The only question we need to be asking ourselves is whether (in this case) all clear demand within the wedge has been fully tested - this implies that is is more likely to have been consumed - paving the way for the quick momentum move through it.

Look at the chart below and you can see the demand zones I've marked in purple - none of these have been tested so this is not a good CP setup (in terms of expecting price to fall quickly through this area).
Attached Image (click to enlarge)
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  • #4,059
  • Nov 17, 2012 7:39am Nov 17, 2012 7:39am
Here is an example of a trade I took Friday on EU which is a good example of compression (made 1.95R on this) - don't worry about the M1 PA comments - this is just from my PF - the CP is what I'm trying to get across - no clear untested supply within that channel with price hitting clear H1 demand.
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  • #4,060
  • Nov 17, 2012 7:42am Nov 17, 2012 7:42am
lj when fb part2 is comin out?
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