Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
{quote} {image} Sonic, yes, it looks like the price structure change is happening.... will have to see how the PA will hold above 129.35 WPv
for posts. I would make it a lot easier to learn I think.
Use any template you want for your own trading purposes, but transfer the data to a sonicR template
for displaying the trade. That can't be too difficult I think.
And I'll beat one more dead horse...a vertical line marking the entry points would be helpful. No more
searching for the spot. All it takes is a quick glimpse to find it, and all it takes is a couple of clicks
to insert it.
Ok, that's it for my whining (today)
Don't beat me up too bad.... I cry easily!
- #48,383
- May 9, 2013 4:26am May 9, 2013 4:26am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
{quote} Wow! That marubozu hit hard at 130.00 and bounce right back up. This is the third time I read you use marubozu candles.It is so effective. Good Sharing! Thank you.
Yep, wider ranged candles that are marubozos or have very long wicks demand our attention. That one said "I'm not yet ready to break the **00" Ten minutes later there was another green (semi) marubozo that was saying "I'm a LH, please sell me!"......these work best with volume and ~a level
Trading Levels with WRBs
- #48,384
- May 9, 2013 4:31am May 9, 2013 4:31am
- Joined Nov 2008 | Status: Trader | 50,194 Posts
{quote} Yep, wider ranged candles that are marubozos or have very long wicks demand our attention. That one said "I'm not yet ready to break the **00" Ten minutes later there was another green (semi) marubozo that was saying "I'm a LH, please sell me!"......these work best with volume and ~a level
yes Sir,
I am learning a lot from your M1 charts recently and well documented.
I did not pay much attention to M1 candles and volume for years until recent weeks. One of those light bulb momens when I read your posts and charts.
Really good that you come around this thread and share your vast experience.
Thank you again.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #48,385
- May 9, 2013 4:38am May 9, 2013 4:38am
- | Joined Nov 2011 | Status: the probability trader | 1,110 Posts
Today is Victory Day!
Everything is possible!!! Step by Step...
- #48,386
- May 9, 2013 4:38am May 9, 2013 4:38am
- Joined Mar 2013 | Status: In the learning phase.. | 1,377 Posts
Whatever is obvious is obviously wrong!"
{quote} Not Over Top, But Getting Hot -traderathome
).I got a glimpse of how the real trading world operates after reading "Mastering the Markets" and
PVSRA has driven the point home (for me, anyway).
I am beginning to develop some confidence that I'm on the "right side" of a trade by using
PVSRA, along with all the other sonicR methods of course.
Any introduction of other things is more of a distraction than a help in my opinion.
- #48,388
- May 9, 2013 4:46am May 9, 2013 4:46am
- | Joined Nov 2007 | Status: Trader | 1,157 Posts
{quote} Yep, wider ranged candles that are marubozos or have very long wicks demand our attention. That one said "I'm not yet ready to break the **00" Ten minutes later there was another green (semi) marubozo that was saying "I'm a LH, please sell me!"......these work best with volume and ~a level
Islander, the way you changed from Buy to Sell and vice-versa so fast is really just amazing.
Really need to learn this skill.
You really seem to enter just about where the turning point is Just BEFORE it turned, and more importantly you have even better exits.
OK, what are you looking for when you are doing all these entering and exits??
Where is the bar that show "I'm a LH, please sell me!" ??
- #48,389
- Edited 5:49am May 9, 2013 5:20am | Edited 5:49am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
{quote} Islander, the way you changed from Buy to Sell and vice-versa so fast is really just amazing. Really need to learn this skill. You really seem to enter just about where the turning point is Just BEFORE it turned, and more importantly you have even better exits. OK, what are you looking for when you are doing all these entering and exits?? Where is the bar that show "I'm a LH, please sell me!" ??
Please remember that I have put in 1,000s of hours of screen time on Forex alone and my comments are how I "see" the PA and I'm trying to relate it to what Sonic and TAH are talking about - all be it for 1m intra day swing trading.
Reversing at the S&R level around yesterday's close was just about waiting to see IF that level would hold again as it did several times yesterday and the exit of the long was just watching that 1 min candle unfold and its volume carrying on rising and changing green as it spiked up just above the level.
The Lower High is at #1 the 08:44 GMT candle - again a green Sonic Volume bar...
At #2 the red marubozo hit the **75 level (for the 4th time this morning) in a red Sonic Volume bar, so "I'm not ready AT THIS MOMENT" to break the level.
At #3 now "I am ready for a high volumed push absorbing those stops move to break the **75 level" and " phew, I need a rest to mop up some more stops etc before I take off again"
At #4 Support now becomes resistance, so back down and wait - pop a Patience Pill and keep your fingers away from the buy and sell buttons as you try to "out-think" the action i.e are the MMs mopping up the sellers and becoming buyers.....well Time Will Tell - just watch that **75 level....
I hope this helps .... now back to my garden
PS Take a look at the 10:00 GMT and 10:12 GMT candles......
Trading Levels with WRBs
- #48,391
- May 9, 2013 5:52am May 9, 2013 5:52am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
Trading Levels with WRBs
- #48,396
- May 9, 2013 6:44am May 9, 2013 6:44am
- Joined Nov 2008 | Status: Trader | 50,194 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #48,397
- Edited 7:17am May 9, 2013 6:53am | Edited 7:17am
- Joined Nov 2008 | Status: Trader | 50,194 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #48,398
- May 9, 2013 7:01am May 9, 2013 7:01am
- Joined Nov 2008 | Status: Trader | 50,194 Posts
{quote} I, for one, am convinced that PVSRA is the wave of the future (pardon the pun
SonicR has always been about wave analysis.
Sonic in his first post wrote this:
"..... fine tuned the system with understanding of Volume Analysis,S & R, Wave analysis and Price action, and I am getting high success rate on my position/swing trading."
I was stuck in M15 and H4 for very many years of trading and I did not see the benefit in looking at M1 candles and the relative volume until I started to study closely FF member Islander' posts. His explanation and comments on his charts are worth closer read and study.
There is light at the end of the tunnel.
Regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #48,399
- May 9, 2013 7:30am May 9, 2013 7:30am
- Joined Feb 2011 | Status: Trader | 1,825 Posts
EJ TP too tight? I'm having a trouble to choose TP points..cannot figure out the reasonable and potential TP-s.. {image}
- #48,400
- Edited 7:52am May 9, 2013 7:32am | Edited 7:52am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
{quote} i interested with your broker spread mister islander, tightest spread i got from agea but they restrict scalp after couples trades.
The trigger for that entry was the 07:38 gmt candle and entry at the start of the next bar and exit in the 07:51 candle within .007 pips of the high so please check it out for yourself. 30 pips is rounded to the nearest pip.
If you try to put on a short TL on a chart to illustrate your entry, you will find that MT4 puts it on the high of the candle, so it is just an INDICATION and my post is for information, showing the principles that I use.
PS I don't consider trading the intra day swings to be scalping......that's a whole different ball game and I DID get banned once after turning ~$1k into >~ $10K in ten days and several hundred trades
Trading Levels with WRBs