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Mastering the Art of Trading

  • #461
  • Sep 6, 2013 10:45am Sep 6, 2013 10:45am
Quoting ghous
{quote} No, its not necessary for the pros to push price higher and then sell it off. It doesn't make sense because they'll essentially be trading against themselves. An external stimulus or an internal rumor sucks one side of the liquidity resulting in price shooting/dropping off in one direction desperately searching for the next spot on the chart to regain that equilibrium state. It is times like these that the pros will target which is essentially why you see large sell offs following large rallies and vice versa. Also, the market itself has...
I guess I will read it a few times during the weekend, until i truly understand what you mean
Thanks!
It's all psychology...
  • #462
  • Sep 6, 2013 2:25pm Sep 6, 2013 2:25pm
Homework for the weekend:

At the moment I see many many fakouts and pinbars.

Game:
Let's find the setups in the next 24 hours.
Then in the next 24 we will discuss them, so at the beginning of the session all of us will have great pending orders.

Let the game begin!
Stephen
It's all psychology...
  • #463
  • Sep 6, 2013 4:32pm Sep 6, 2013 4:32pm
How about the price CAD-JPY was unable to continue rising, and makes a SFP, price closes below HHR, LT confirms the possible sale. Not a Pin Bar ideal, but I still warming to just get head. What think you???
Attached Image (click to enlarge)
Click to Enlarge Name: CAD-JPY 2013-09-06 16:08:29.png Size: 47 KB
  • #464
  • Sep 6, 2013 5:11pm Sep 6, 2013 5:11pm
The other pair is not bad. Price does not cross LLS and bounces off the SFP.
Attached Image (click to enlarge)
Click to Enlarge Name: EUR-NZD 2013-09-06 16:47:10.png Size: 361 KB
  • #465
  • Edited 8:03pm Sep 6, 2013 7:43pm | Edited 8:03pm
Quoting cesar8
The other pair is not bad. Price does not cross LLS and bounces off the SFP. {image}
Does not touch the SP at all on my feed or yours.

The SFP is not an area, it is the phenomenon of price piercing the swing point and failing to close below or above them &, there is No SFP here.
Attached Image (click to enlarge)
Click to Enlarge Name: eurnzddaily.png Size: 45 KB
  • #466
  • Sep 6, 2013 8:01pm Sep 6, 2013 8:01pm
Quoting LamerTrader
{quote} I guess I will read it a few times during the weekend, until i truly understand what you mean Thanks!

This is why Ghous wants to see a SP pierced by a significant amount, not just a touch and close on or 2 pips above or below a SP.
  • #467
  • Sep 7, 2013 1:02am Sep 7, 2013 1:02am
Quoting ghous
{quote} Good stuff Steve g.
I am just as much talking to myself with that chart, to get the scanning of these pairs fixed in my mind.
So that, it becomes almost a reflex action to search and dismiss pairs quickly.
Thought it may help some new people also.
Helping others helps ourselves.
  • #468
  • Sep 7, 2013 6:59am Sep 7, 2013 6:59am
This is EURGBP daily.
Doesn't seem an high quality setup as the low wick pierced the LLS just for a handful of pips, but maybe it's worth keeping in the watchlist. Maybe a second fakeout would validate the setup? Every comment is highly appreciated.
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbpdaily_070913.png Size: 49 KB
  • #469
  • Sep 7, 2013 9:22am Sep 7, 2013 9:22am
Hello ghous, Pinbar, and everyone in here.

I have been lurking here for quite sometime and I find this method very interesting. I like the rationale behind a fakeout that's why I 'm excited to be here. I hope I am welcome here.

Kudos to ghous for sharing his knowledge.
  • #470
  • Sep 7, 2013 9:25am Sep 7, 2013 9:25am
Quoting Dr_Zulu
This is EURGBP daily. Doesn't seem an high quality setup as the low wick pierced the LLS just for a handful of pips, but maybe it's worth keeping in the watchlist. Maybe a second fakeout would validate the setup? Every comment is highly appreciated. {image}
A 4H confirmation of the LLS holding up on Monday will surely help.

But I agree, that first trouble area looks heavy.

g.
I believe . . .
  • #471
  • Sep 7, 2013 9:31am Sep 7, 2013 9:31am
This pair doesn't have much activity during Asia session. Do you look for 4H during Asia session or the first 4H after Europe session?
  • #472
  • Sep 7, 2013 9:35am Sep 7, 2013 9:35am
Quoting Tauru$
Hello ghous, Pinbar, and everyone in here. I have been lurking here for quite sometime and I find this method very interesting. I like the rationale behind a fakeout that's why I 'm excited to be here. I hope I am welcome here. Kudos to ghous for sharing his knowledge.
Hey Taurus,

You are more than welcome here!



g.
I believe . . .
  • #473
  • Sep 7, 2013 9:36am Sep 7, 2013 9:36am
Quoting str8
This pair doesn't have much activity during Asia session. Do you look for 4H during Asia session or the first 4H after Europe session?
I am looking for price to simply pull back to the LLS and show signs of holding up. I couldn't care less which session entertains me

g.
I believe . . .
  • #474
  • Sep 7, 2013 10:02am Sep 7, 2013 10:02am
Thank you very much for the warm welcome ghous.

My thought on the EURGBP.

Are you not concern with catching a falling knife scenario with this set up? Looks like some bears cornering profit than a fakeout to me. The distance from the close of the bar to FTA is just mere 30-40 pips. So from a reward to risk perspective, the set up doesn't provide a nice return.

Supposing the LLS holds on the 4hr, are we not taking counter trend trade here?
  • #475
  • Sep 7, 2013 11:26am Sep 7, 2013 11:26am
AUDCHF

Will this be considered as a fakeout?

Attached Image (click to enlarge)
Click to Enlarge Name: audchfmdaily.png Size: 35 KB
  • #476
  • Sep 7, 2013 8:55pm Sep 7, 2013 8:55pm
Quoting Tauru$
Hello ghous, Pinbar, and everyone in here. I have been lurking here for quite sometime and I find this method very interesting. I like the rationale behind a fakeout that's why I 'm excited to be here. I hope I am welcome here. Kudos to ghous for sharing his knowledge.
Hi, and welcome to the Ghous House of trading.

I am equally excited about being here and learning the art in depth.
  • #477
  • Sep 7, 2013 9:48pm Sep 7, 2013 9:48pm
Quoting LO-Trader
AUDCHF Will this be considered as a fakeout?
I think you would want to see if it puts in a bottom before going long. You still have a ll and lh behind it before new information....Chances are it will sell off -stall- and then turn to go long. Just my impression. To go straight up would be odd. you have to many shorts to take out and they havn't reversed yet.
  • #478
  • Sep 8, 2013 2:22am Sep 8, 2013 2:22am
nice thread, love to read about new methods!

here is a chart of german deutz on weekly. only for discussing the pros/cons of a setup. go for it...
Attached Image (click to enlarge)
Click to Enlarge Name: DEUTZ AG O.N..png Size: 17 KB
meine augen sind die sterne
  • #479
  • Sep 8, 2013 3:17am Sep 8, 2013 3:17am
Quoting LO-Trader
AUDCHF Will this be considered as a fakeout? {image}

I just added my comments seniors may reply... I want to see whether I am getting this method right....

I think this is not a gud set up......
Attached Image (click to enlarge)
Click to Enlarge Name: audchfmdaily.png Size: 46 KB
80% effort, 20% luck
  • #480
  • Sep 8, 2013 3:30am Sep 8, 2013 3:30am
Quoting KOS-fx
{quote} I just added my comments seniors may reply... I want to see whether I am getting this method right.... I think this is not a gud set up...... {image}
My thoughts are the same.
Good job.
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