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  • #725,961
  • Dec 1, 2012 9:26pm Dec 1, 2012 9:26pm
Quoting attila
Looking at the original chart.. Yes, we have a shooting star to the left there, or I don't know what that is, it actually has a spinner at the top, but that's not that important.. What's important is what the price did the next green candle, the one after the long red one. It spiked up and it was immediately pushed down and it closed on the low. It doesn't matter that it's still green, there were heavy sellers at the top of that spike. From what I can see, our last candle didn't even make it to the top of that spike and it was pushed down strongly...
good chart reading
As Above, So Below
  • #725,962
  • Dec 1, 2012 9:27pm Dec 1, 2012 9:27pm
Quoting attila
Looking at the original chart.. Yes, we have a shooting star to the left there, or I don't know what that is, it actually has a spinner at the top, but that's not that important.. What's important is what the price did the next green candle, the one after the long red one. It spiked up and it was immediately pushed down and it closed on the low. It doesn't matter that it's still green, there were heavy sellers at the top of that spike. From what I can see, our last candle didn't even make it to the top of that spike and it was pushed down strongly...
Thanks. Love your analogy on candlesticks and price.
Time turns trend. - W.D. Gann
  • #725,963
  • Dec 1, 2012 9:27pm Dec 1, 2012 9:27pm
Quoting Kanzler
Best guess it hits this support turned resistance and heads south again. Would need more evidence to make a call though (ripped through first level and momentum still appears strong).
This one should go higher than all the white lines.. all the way to the bottom of the break out level, at least..It can even break that..
  • #725,964
  • Dec 1, 2012 9:30pm Dec 1, 2012 9:30pm
Quoting tashkent
i can not give the price, because you may figure out which pair this is. but you can draw on the chart in reference to candles you have
Ah, good point. I was automatically assuming that your chart was the E/U.
Time turns trend. - W.D. Gann
  • #725,965
  • Dec 1, 2012 9:32pm Dec 1, 2012 9:32pm
Quoting attila
This one should go higher than all the white lines.. all the way to the bottom of the break out level, at least..It can even break that..
That would surprise me. Second line being broken, not as much, although in my limited experience most of the time these retraces are just places where we see profit taking and then a bunch of other people jump on the bus at the nearest station. What do you see aside from the momentum?
  • #725,966
  • Dec 1, 2012 9:34pm Dec 1, 2012 9:34pm
Quoting Kanzler
then a bunch of other people jump on the bus at the nearest station
This is the trick. But I think the assumption is wrong.. Let's see what our friend has in store first. Again, think at what happened there.. Clue.. There should be some very pissed sellers left behind.
  • #725,967
  • Dec 1, 2012 9:34pm Dec 1, 2012 9:34pm
also just before from the last higher high you start noticing strong, bold red candles. these are the first signs, sellers coming into stage. last hh ended with spinner, and you will see more sellers, they are now even stronger and bolder. when it tried to go up again ended with another spinner. break low of that spinner was all sell sign. you could have just sold and place you SL just above the previous candle. and you would have hit the jackpot. caught the direction from its almost initial point.
As Above, So Below
  • #725,968
  • Dec 1, 2012 9:36pm Dec 1, 2012 9:36pm
Quoting tashkent
also just before from the last higher high you start noticing strong, bold red candles. these are the first signs, sellers coming into stage. last hh ended with spinner, and you will see more sellers, they are now even stronger and bolder. when it tried to go up again ended with another spinner. break low of that spinner was all sell sign. you could have just sold and place you SL just above the previous candle. and you would have hit the jackpot. caught the direction from its almost initial point.
So what happened next, with the current move up?
  • #725,969
  • Dec 1, 2012 9:44pm Dec 1, 2012 9:44pm
I think I'm checking out now.. It's 11:30 here.. I would not be surprised if the price makes it right back close to our original candle at the top there.. I'll check later if I were right or wrong..
  • #725,970
  • Dec 1, 2012 9:45pm Dec 1, 2012 9:45pm
Quoting attila
I think I'm checking out now.. It's 11:30 here.. I would not be surprised if the price makes it right back close to our original candle at the top there.. I'll check later if I were right or wrong..
Cya later attila. Also, thanks for posting those charts earlier, I think they'll be useful for comparison.
  • #725,971
  • Dec 1, 2012 9:46pm Dec 1, 2012 9:46pm
Quoting Kanzler
Cya later attila. Also, thanks for posting those charts earlier, I think they'll be useful for comparison.
Later man.. That was not a proper break of support.
  • #725,972
  • Dec 1, 2012 9:47pm Dec 1, 2012 9:47pm
Quoting attila
So what happened next, with the current move up?
here what happened next
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As Above, So Below
  • #725,973
  • Dec 1, 2012 9:50pm Dec 1, 2012 9:50pm
Quoting attila
Later man.. That was not a proper break of support.
I meant your daily and intraday charts from a few pages back.

Quoting tashkent
here what happened next
Nailed it. Would have been nice to throw fibs on there though...wouldn't have tried to hit it without some other factor.
  • #725,974
  • Dec 1, 2012 9:59pm Dec 1, 2012 9:59pm
Quoting Kanzler
I meant your daily and intraday charts from a few pages back.



Nailed it. Would have been nice to throw fibs on there though...wouldn't have tried to hit it without some other factor.
nice work

after all this business is all about high probability trading. to make profit we need to learn properly read candle formations and and follow hh hl lh and ll. use proper leverage, rational stop loss and increase the bet each time market proves our projection was correct. we can not predict precisely all levels. market makes absolutely unpredictable moves. all we can do is maximize the profit, minimize the loss.
As Above, So Below
  • #725,975
  • Dec 1, 2012 10:11pm Dec 1, 2012 10:11pm
Quoting tashkent
nice work

after all this business is all about high probability trading. to make profit we need to learn properly read candle formations and and follow hh hl lh and ll. use proper leverage, rational stop loss and increase the bet each time market proves our projection was correct. we can not predict precisely all levels. market makes absolutely unpredictable moves. all we can do is maximize the profit, minimize the loss.
Absolutely. I'm not sure I agree with adding onto winning trades though unless another high probability setup occurs in the same direction....and typically by that point I'm already out of my first one. Some people will add onto them with less discretion, but I worry about losing my profit if I'm too lenient. That said, trade management is a subject where I still have a lot of learning to do.
  • #725,976
  • Dec 1, 2012 10:19pm Dec 1, 2012 10:19pm
here is the EU 4H, D and W
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As Above, So Below
  • #725,977
  • Dec 1, 2012 10:25pm Dec 1, 2012 10:25pm
something violent can be expected to upside. price is at the upper side of the channel and if it fails, ping-pong within the channel will be still in play.
As Above, So Below
  • #725,978
  • Dec 1, 2012 11:53pm Dec 1, 2012 11:53pm
Quoting tashkent
something violent can be expected to upside. price is at the upper side of the channel and if it fails, ping-pong within the channel will be still in play.
I know where you are coming from,

But... By the time your grandma finds out the EU is climbing it is already peaking and turning around.

Food for thought.
Even the worst trade can close with profit. Just give it time.
  • #725,979
  • Dec 2, 2012 12:01am Dec 2, 2012 12:01am
Quoting ambroni
what is the difference from this 4H chart ...
hahaha ...
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  • #725,980
  • Dec 2, 2012 12:07am Dec 2, 2012 12:07am
Quoting John Gray
I know where you are coming from,

But... By the time your grandma finds out the EU is climbing it is already peaking and turning around.

Food for thought.
she has found out that many weeks ago and ready to change the train as soon as it reaches the next stop. if you have already missed the train the next one may not be coming very soon. Food for thought.
As Above, So Below
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