Only, as you see, PA already knows this!
Its important to remember that charts dont create charts... poeple and their expectations do. How do you think Soros made all the fortune
... not from pure chart trading .... but thats another story 
Price Action in Day Trading by Dadas
- #1,101
- Apr 18, 2013 12:54pm Apr 18, 2013 12:54pm
Its important to remember that charts dont create charts... poeple and their expectations do. How do you think Soros made all the fortune
... not from pure chart trading .... but thats another story - #1,102
- Apr 18, 2013 1:01pm Apr 18, 2013 1:01pm
- | Commercial User | Joined Sep 2012 | 3,282 Posts
What i mean is overall market sentiment and expectations. PA doesn't always show the whole story. SNB 1.2 floor is one of the best examples. Same goes for possible NZ CB intervention or unexpected change in monetray policy. Shock factor on fundamental front can bring very high probability trades from time to time. Its important to remember that charts dont create charts... poeple and their expectations do. How do you think Soros made all the fortune
You know, you are right, but have you considerred that
the ones who really create Price Movement are the ones
who know faster than the others?
That is the reason charts and PA do show what fundamentals confirm.
Just, take a close look.
Find some historical PA caused by the "unexpected" fundamentals
and check if you could not have read that out of the charts?
Trade the facts, not opinions.
- #1,105
- Apr 18, 2013 1:10pm Apr 18, 2013 1:10pm
- | Commercial User | Joined Sep 2012 | 3,282 Posts
Trade the facts, not opinions.
- #1,107
- Edited 1:30pm Apr 18, 2013 1:20pm | Edited 1:30pm
How do you think Sam Seiden made his fortune? You know, you are right, but have you considerred that the ones who really create Price Movement are the ones who know faster than the others? That is the reason charts and PA do show what fundamentals confirm. Just, take a close look. Find some historical PA caused by the "unexpected" fundamentals and check if you could not have read that out of the charts?
and in the meantime it was slowly declining. You would see that on the chart but in the context of FED monetary policy one would atleast assume that something is not right when gold is not rising while whole world is printing paper. Same goes for current BOJ policy. If you wouldn't know about their commitment to weakining YEN you would burn yourself a lot by selling YEN crosses at the longterm supply levels. Price might show some signs before the actual event but the knowledge of "what/who drives the market" gives you the confidence in staying with the trade. Earthquake in Japan / New Zealand / SNB rumors... all of them gave nobrainer trade opportunities. PA is important but the knowledge about the current market drivers puts PA in the context. A lot of the news are actually a BS not worth reading but after some time one will notice how market participants react to some information. Price + basic knowledge of market drivers & expectations win the game BTW I'm not making a statement that FA is the only way or making any TA vs FA debate. Just take whats the best from both worlds
- #1,109
- Apr 18, 2013 1:49pm Apr 18, 2013 1:49pm
- | Commercial User | Joined Sep 2012 | 3,282 Posts
Price + basic knowledge of market drivers & expectations win the game.
Just take whats the best from both worlds
One way or another, the trader must keep up with what is going on in the world!
Trade the facts, not opinions.
- #1,110
- Apr 18, 2013 2:16pm Apr 18, 2013 2:16pm
- Joined Dec 2010 | Status: Never Stop Learning | 7,323 Posts
- #1,111
- Apr 18, 2013 2:29pm Apr 18, 2013 2:29pm
- | Commercial User | Joined Sep 2012 | 3,282 Posts
Trade the facts, not opinions.
- #1,112
- Apr 18, 2013 4:56pm Apr 18, 2013 4:56pm
- | Commercial User | Joined Sep 2012 | 3,282 Posts
@markup
Honestly, if you could have held the picture inside the uppermost yellow Zone,
without seeing the Big drop, yet, but without any Ego, without any prejudice whatsoever,
with a clear unbiased mind, without hopes, wishes, figuring outs, wouldn't you say
it is mostly Bears? Wouldn't you say to those who told people to Buy, that they must
be out of their minds, or something? Wouldn't you say it is Price Action and that is enough?
But, that's the most difficult part in this job, isn't it?
I know, you might say, what about those who were still buying at 1900?
I had a Finacial Advisor, once.
At our first meeting, the guy showed me stuff about how my money would grow.
He showed me charts with historical data and future predictions.
I did not know much about financial markets then, but when he showed
me those predictions, I almost kicked him out of my door for the
nonsence he was showing me. There is also the common sence factor!
Any trader without any common sence is vulnerable, very vulnerable!
Honestly, if you could have held the picture inside the uppermost yellow Zone,
without seeing the Big drop, yet, but without any Ego, without any prejudice whatsoever,
with a clear unbiased mind, without hopes, wishes, figuring outs, wouldn't you say
it is mostly Bears? Wouldn't you say to those who told people to Buy, that they must
be out of their minds, or something? Wouldn't you say it is Price Action and that is enough?
But, that's the most difficult part in this job, isn't it?
I know, you might say, what about those who were still buying at 1900?
I had a Finacial Advisor, once.
At our first meeting, the guy showed me stuff about how my money would grow.
He showed me charts with historical data and future predictions.
I did not know much about financial markets then, but when he showed
me those predictions, I almost kicked him out of my door for the
nonsence he was showing me. There is also the common sence factor!
Any trader without any common sence is vulnerable, very vulnerable!
Trade the facts, not opinions.
I leave my ego at the doors when i'm trading. Price is falling and i'm willing to join that momentum. If it starts raising i will join the bull side
Pretty simple if you ask me
As for the time prior to breakout. I was prepared to sell but sadly (honestly there is nothing worse then seeing price doing its dance without you after you spend so much time doing your research) it did not fill my offers becouse of non-pullback nature of this selloff. I still consider current price to be somehow attractive to sell but i'm willing to wait for couple of days and see if i can get bit better price for my entry.
Pretty simple if you ask me
As for the time prior to breakout. I was prepared to sell but sadly (honestly there is nothing worse then seeing price doing its dance without you after you spend so much time doing your research) it did not fill my offers becouse of non-pullback nature of this selloff. I still consider current price to be somehow attractive to sell but i'm willing to wait for couple of days and see if i can get bit better price for my entry.
- #1,115
- Apr 18, 2013 11:44pm Apr 18, 2013 11:44pm
For zarach: Zone Candle D1 trading strategy Let's suppose we are at historical D1 Candle Index 134. The Day is just about to close. I find the corresponding D1 historical candle Index 162. I plot this Zone Candle with Custom_Zone_Candle_with_Index.mq4: {image} The idea is to Enter at the beginning of the just opened D1. Then, go to bed, go to work, whatever, and come back for the results at the end of the D1 Candle, and decide if Exit or Stay. It is a good idea to mark the Start of Day Line with the vertical line tool. In picture I marked Day Beginning,...
been busy lately so cannot post analysis, will do it after finished my work - #1,116
- Apr 19, 2013 1:08am Apr 19, 2013 1:08am
- Joined Dec 2010 | Status: Never Stop Learning | 7,323 Posts
- #1,117
- Apr 19, 2013 1:48am Apr 19, 2013 1:48am
Just want to share my latest attempt using PTECZs.
Started on W1 and D1 and to me price is clearly rangebound.
Moved down to M5 and was waiting for retrace to upper PTECZ, but it was not going there.
Came back later and found I missed the entry and it was now in between the upper and lower Ptecz.
So, looked for the most recent PTecZ and entered on pullback.
Started on W1 and D1 and to me price is clearly rangebound.
Moved down to M5 and was waiting for retrace to upper PTECZ, but it was not going there.
Came back later and found I missed the entry and it was now in between the upper and lower Ptecz.
So, looked for the most recent PTecZ and entered on pullback.
- #1,118
- Apr 19, 2013 2:41am Apr 19, 2013 2:41am
- Joined Dec 2010 | Status: Never Stop Learning | 7,323 Posts
- #1,119
- Apr 19, 2013 3:53am Apr 19, 2013 3:53am
- | Commercial User | Joined Sep 2012 | 3,282 Posts
EURJPY
I entered this Long yesterday, a few hours before D1 Candle Close.
It was ca. 21:00 my local time (London+1), ca. 19:00 platform time.
Based on H4 PTECZs and PA.
I am already good, but I am not supposed to look until the end of day.
I entered this Long yesterday, a few hours before D1 Candle Close.
It was ca. 21:00 my local time (London+1), ca. 19:00 platform time.
Based on H4 PTECZs and PA.
I am already good, but I am not supposed to look until the end of day.
Trade the facts, not opinions.
- #1,120
- Apr 19, 2013 4:21am Apr 19, 2013 4:21am
- | Commercial User | Joined Sep 2012 | 3,282 Posts
Trade the facts, not opinions.