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Beyond the Candles

  • #1,021
  • Feb 11, 2013 5:53am Feb 11, 2013 5:53am
The reasons are very simple:...we are in a bearish trend with a bullish reaction that doesn't close above 1.45 BRN ( important level on W ).
The bullish reaction is also at a very important S level...so in this case the saffiest way to trade it is waiting for 1.42 to become R for 1.38 as the next TG !
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  • #1,022
  • Feb 11, 2013 8:00am Feb 11, 2013 8:00am
USDNOK
M-the P is within triangle
W-2WPB at the S level, but the PB's problem is its close bellow the 5.55 BRN.
D-I will wait a close above the 5.55 abd buyers confirmation od the D RM as support.
The Tg is the triangle R= bearish TL. The triangle has the right dimension ( and this is a very important detail ) that alows me to manage my MM in a safe way.
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  • #1,023
  • Feb 12, 2013 4:38pm Feb 12, 2013 4:38pm
hi fxgroup,
thanks for sharing this great method with us. I like the simplicity and the long term that allows time to plan and set your trades. I have a day time job and a family, so can not afford many hours of screen time and these time frames work for me.
first I apologize if I am asking stupid questions since I still haven't read the whole thread.
can you please explain how do you determine the S and R levels that you look for. I always draw the levels from the close/open just like you do, but when I open a chart and put the monthly and weekly S and R, it is a bit hard to determine which once are really important for us. there are too many levels to look for. how do you "filter" these levels. also, can you please explain what "confirmations" you use on Daily charts to enter a trade.
I am pretty sure I will have many other questions when I get the time to read the whole thing. once again apologies if the questions have been discussed in earlier posts.
thanks,
BR
plamen
  • #1,024
  • Feb 13, 2013 4:46am Feb 13, 2013 4:46am
Hi peichini

There are no stupid questions !
The S/R levels must have a right selection and is in based of how much a level has influenced the P in the past.
The importance of the levels is given by the swing's importance. The RM are also a very important element on my trading view,so the S and R of a RM are the most important levels, the rest of the levels within the RM become MM levels where we reading the P in order to optimise our trades, entry, move the SL,etc.
Here is a NZDCAD M chart...look how obvious the levels are and how clear the levels respect the nca/ ncb concept.

P.S The H&S pattern gives us an extra information about the next TG if the P closes above the actual RM...0.85 has a great influence also !
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  • #1,025
  • Feb 13, 2013 5:09am Feb 13, 2013 5:09am
good analyze master
let me come to learn
  • #1,026
  • Feb 13, 2013 7:40am Feb 13, 2013 7:40am
Wellcome bocet !...I'm not a master !

Put some charts and let's talk about it !
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  • #1,027
  • Feb 13, 2013 10:00am Feb 13, 2013 10:00am
Thanks for your time and energy. In waiting for 1.42 to become R, we have to look at the Daily charts and look for bullish pattern and if the bullish pattern does not close above 1.42 in daily chart, then we enter the trade. Am I right so far?



Quoting fxgroup
The reasons are very simple:...we are in a bearish trend with a bullish reaction that doesn't close above 1.45 BRN ( important level on W ).
The bullish reaction is also at a very important S level...so in this case the saffiest way to trade it is waiting for 1.42 to become R for 1.38 as the next TG !
  • #1,028
  • Feb 16, 2013 4:12am Feb 16, 2013 4:12am
sorry for my english brother
What is your opinion about the EU this week?
  • #1,029
  • Feb 17, 2013 3:06pm Feb 17, 2013 3:06pm
Hi fxgroup,
Thanks for the explanation. I tried to use your method and draw some charts. Will try to post some later. I think NZD/USD has closed above a W level. On D price moved up and retraced. We need to close above 0.8359 to have an entry. What do you think - are my observations correct.
Thanks and have a great week.
BR
plamen

Quoting fxgroup
Hi peichini

There are no stupid questions !
The S/R levels must have a right selection and is in based of how much a level has influenced the P in the past.
The importance of the levels is given by the swing's importance. The RM are also a very important element on my trading view,so the S and R of a RM are the most important levels, the rest of the levels within the RM become MM levels where we reading the P in order to optimise our trades, entry, move the SL,etc.
Here is a NZDCAD M chart...look how obvious the levels are and how clear the levels...
  • #1,030
  • Feb 18, 2013 1:46am Feb 18, 2013 1:46am
Hi....on my chart ( NZDUSD ) the P closed within the RM...so no bullish information !
The safiest way to buy this pair is to wait 0.8480- 0.85 ( BRN ) acting as S for 0.88 as main TG !
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  • #1,031
  • Feb 18, 2013 4:16pm Feb 18, 2013 4:16pm
hi fxgroup,
yes, correct, actually my chart shows the same, just closes are a bit different - I guess because of the different times of the brokers. when I wrote the previous post I did not have the weekly candle closed (my broker has a Sunday candle that is added to the weekly), and at that time the candle looked like it closed above the weekly R level.
any idea what is going on with the GBP/USD?

Quoting fxgroup
Hi....on my chart ( NZDUSD ) the P closed within the RM...so no bullish information !
The safiest way to buy this pair is to wait 0.8480- 0.85 ( BRN ) acting as S for 0.88 as main TG !
  • #1,032
  • Feb 18, 2013 5:04pm Feb 18, 2013 5:04pm
Ej weekly and daily charts... More shorts to come from the extremes of daily and weekly
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tradewith60
  • #1,033
  • Feb 19, 2013 7:42am Feb 19, 2013 7:42am
[quote=peichini;6455139]
Quote
any idea what is going on with the GBP/USD?
..We don't have an idea....we know for sure !
After the M BEOB at the RM's R it was clear that the P is going to the S...with bullish TL as first MM level.
All we have to do is ta wait for confirmation at the 1.5340 in order to see if the buyers will keep the P within the RM or the sellers will close bellow it with TG as in my chart !
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  • #1,034
  • Feb 21, 2013 7:20am Feb 21, 2013 7:20am
Gold Weekly Chart: Gold arrives at a significant level ?
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  • #1,035
  • Feb 21, 2013 7:21am Feb 21, 2013 7:21am
I put a chart with this pair some time ago where I was looking to show how important is the dynamic RM for USDCAD...let's find the answers to our questions:
-WPD= dynamic RM with the PB as buyers confirmation at the S
-WPD= to the RM's R level.
IF and only IF the P will close above the pattern then 1.0325 and 1.05 become the next TGs ...all we know is right now is at the TG level so we have to make MM and to wait for more informations......NEVER, NEVER try to anticipate THE MARKET....ALWAYS, ALWAYS let it to show you what it wants to do !
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  • #1,036
  • Feb 21, 2013 7:35am Feb 21, 2013 7:35am
Quoting dh001
Gold Weekly Chart: Gold arrives at a significant level ?
Nice chart...but let's see it from a M point of view where I find it simplier and where we see very clear how and where we could enter on Gold !

P.S. Silver vs Euro was even simplier !
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  • #1,037
  • Feb 21, 2013 7:48am Feb 21, 2013 7:48am
Thanks FXGroup, good stuff. It will be interesting for me to see where price closes next Thursday (end of month) and see if how it all unfolds.

Thank you for your feedback.

dh
  • #1,038
  • Feb 21, 2013 1:41pm Feb 21, 2013 1:41pm
Quoting fxgroup
Nice chart...but let's see it from a M point of view where I find it simplier and where we see very clear how and where we could enter on Gold !

P.S. Silver vs Euro was even simplier !
With your permission, I am going to record a video about Silver vs Euro and post it here.
In would include drawing lines and some talk.

I apologize in advance for my super-terrible English, like for written English I had to self teach it by myself.
  • #1,039
  • Feb 21, 2013 4:43pm Feb 21, 2013 4:43pm
Hi all
Want to share my view on how I see P unfolding on EURAUD. Welcome all critique.

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Always Learning
  • #1,040
  • Feb 22, 2013 6:33am Feb 22, 2013 6:33am
EURAUD

The W chart is what I am interested more because of the H&S pattern....now the P is doing a RET on the NL (neck line)'s pattern...it will be very interesting to watch it !
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