Thanks for the pictures, I apperciate it
Ratios & Harmonics: a Different Way to Trade
- #3,922
- Apr 24, 2013 9:30am Apr 24, 2013 9:30am
- Joined Jul 2012 | Status: "Winners knowl"!! | 2,171 Posts
Thanks for the pictures, I apperciate it
Don't follow me! You can and most likely will LOSE all your money!!!!
- #3,923
- Apr 24, 2013 11:53am Apr 24, 2013 11:53am
- | Joined Feb 2011 | Status: Trader | 1,204 Posts
I must hypnotize the stock market into going up faster!!
- #3,924
- Apr 24, 2013 9:20pm Apr 24, 2013 9:20pm
- Joined Jul 2012 | Status: "Winners knowl"!! | 2,171 Posts
Hey traders hope everyone is doing well today. Here is an updated Aud/Usd 1hr chart I'm paying attention to. Chart and notes should speak for itself. Enjoy, make a great day and lets all make bank!!
Don't follow me! You can and most likely will LOSE all your money!!!!
- #3,925
- Edited 5:15am Apr 25, 2013 4:26am | Edited 5:15am
- | Joined Feb 2011 | Status: Trader | 1,204 Posts
Will see how this trade goes! Got some resistance to go through hmmmm
edit: hit stoploss
edit: hit stoploss
- #3,926
- Apr 25, 2013 5:54am Apr 25, 2013 5:54am
- | Joined Feb 2011 | Status: Trader | 1,204 Posts
I swear, from now on I am creating a break even zone and in this *** zone im only going to allow 1 retest of appropriate size, before i move to break even. All the warning signs were there on the previous trade that it would fail. xcuse my language.
Well atleast i got this one!
Well atleast i got this one!
I swear, from now on I am creating a break even zone and in this *** zone im only going to allow 1 retest of appropriate size, before i move to break even. All the warning signs were there on the previous trade that it would fail. xcuse my language. Well atleast i got this one! {image}
Why didn't I take this agro C (and its not because I'm a scaredy cat
). I think the answer may help you out as it has kept me out of some bad trades. Remember the answer to all trades are not the same but each instance you answer gives you power to ask on the next trade and with experience you start to understand what all the signs in the market mean. I'm not there yet but I'm getting better each day.
Finally out of the shadows.
- #3,929
- Apr 25, 2013 6:57am Apr 25, 2013 6:57am
- | Joined Feb 2011 | Status: Trader | 1,204 Posts
{quote} Hey Starry, Why didn't I take this agro C (and its not because I'm a scaredy cat
- #3,930
- Apr 25, 2013 7:06am Apr 25, 2013 7:06am
- | Joined Feb 2011 | Status: Trader | 1,204 Posts
{quote} Wow you're way more agressive than me right now. Look at the spikes into your zone on both those trades. If you took the eur at the first top why did you let it make a new high? PA gave you a triple bottom and then a lower high, time to be out with profit at that point. You are fighting a spike so it could test the high or continue on. D trades are tricky against strength. The second one was massive agressive. You had an almost vertical spike and gaps into your zone. I saw little slowing of price on the chart. Glad it worked out though....
Ive got my plan on how to trade the second trade i made, atleast the entry. In order to find the end of a large bull run, I first find the first large swing of the bull run. Then i trade the third swing, as long as the retracement of the second swing is deeper than the retracement of the first swing. So it is the three swing guideline. See chart below.
Using this methodology, I would not have traded the first trade, but i was too tempted and green
However, the first trade should have atleast been breakeven, so I get to practice my BE skill.
- #3,931
- Apr 25, 2013 7:43am Apr 25, 2013 7:43am
- | Joined Feb 2011 | Status: Trader | 1,204 Posts
So exciting. JUMP THE GAP! 
And dont go down lol
And dont go down lol {quote} Hmm yeah should've taken some profit ! Ive got my plan on how to trade the second trade i made, atleast the entry. In order to find the end of a large bull run, I first find the first large swing of the bull run. Then i trade the third swing, as long as the retracement of the second swing is deeper than the retracement of the first swing. So it is the three swing guideline. See chart below. Using this methodology, I would not have traded the first trade, but i was too tempted and green
I used structure, momentum of the candles and PA. The other more subtle thing to note on that leg is the absence of buyers. They could only mount one measly little bull bar in that spike down. My entry would have been the doji and thats really not strong enough after all that selling. Coupled with the action you mentioned in your analysis I would want a double bottom and expect a LH for an agro C short. As we can see the bears just kept coming and we never got a decent chance until 10:18 which was late to the party
. There were 2 other aggressive entries if you were savy but I'll trade those down the pipe when I'm comfortable.
Finally out of the shadows.
{quote} Hmm yeah should've taken some profit ! Ive got my plan on how to trade the second trade i made, atleast the entry. In order to find the end of a large bull run, I first find the first large swing of the bull run. Then i trade the third swing, as long as the retracement of the second swing is deeper than the retracement of the first swing. So it is the three swing guideline. See chart below. Using this methodology, I would not have traded the first trade, but i was too tempted and green
Finally out of the shadows.
My thought process: Price action spiked below support (yellow line), which most likely indicates that we could possibly be going lower. However, price action was also able to make a HH and closed above the pink line. From that point onwards there was a massive sell off into the 61.8%-78.80% retracement zone, and price action found some support at the aqua line. If you look at the recent history of eurusd then it is evident that the bears have the power. What are your opinions on this aggressive c buy trade? {image}
I would have taken that trade for other reasons. I didn't look out to see it was an agro C. If you look at my chart in post 3932 I arrived back to see a double bottom on stalling swings. I should have just entered but I arrived late and I like to do my projections. It lines up with smaller previous support which failed to become R. You have a 127% extension off the medium swing, 161% of the final small abcd, so I noted that I would target the 61% or nearest swing H to that fib if I entered. The first sloppy leg made it up to 127% of the last small abcd where we had a double top after testing the swing high near the fib I would tp and wait to see if the HL forms. If you are trading longer term then your stops and expectations will be bigger. I'm long off the HL that just formed; correction Barbie just closed the trade by accident (did I mention I trade with distractions
). Guess a few pips is better than no pips as this is pretty aggressive and my little girl is very apologetic. Hope this helps. Cheers.
Finally out of the shadows.
- #3,937
- Apr 25, 2013 10:42am Apr 25, 2013 10:42am
- | Joined Feb 2011 | Status: Trader | 1,204 Posts
Im working on writing in complete sentences for my analysis of each trade, using some definitions im forming and documenting. Im training my brain to describe my intuition with market language, and to describe the probability of price playing out in a certain direction. This way intuition and reasoning will always be in synch.
its good practice along with PA practice i think, just look at past charts at first.
for example:
"
Price broke a demand zone during the bearish CD swing, forming a supply zone. Price then stalled and accelerated into the PRZ, forming light structure and a NSL. Order flow is now potentially bearish.
In order to trade this PRZ, bulls need to show strength. By respecting the light structure, bulls have failed to show a desire to gain strength. A sudden break to the upside is unlikely because order flow has changed and there is no bullish rejection in the PRZ. In addition, the CD swing is extremely bearish and has overextended the original swing, therefore bias remains bearish.
its good practice along with PA practice i think, just look at past charts at first.
for example:
"
Price broke a demand zone during the bearish CD swing, forming a supply zone. Price then stalled and accelerated into the PRZ, forming light structure and a NSL. Order flow is now potentially bearish.
In order to trade this PRZ, bulls need to show strength. By respecting the light structure, bulls have failed to show a desire to gain strength. A sudden break to the upside is unlikely because order flow has changed and there is no bullish rejection in the PRZ. In addition, the CD swing is extremely bearish and has overextended the original swing, therefore bias remains bearish.
