Mastering the Art of Trading

Quoting ghous

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{quote} Great questions there! Firstly, I consider single bar LLS/HHR as more stronger than an LLS/HHR whereyou have a cluster of highs or lows lining up. This is for three reasons. 1) A single bar HHR/LLS tells you that the opposing order flow that came in at that point was extremely strong, and definitive. Whereas a consolidation at the LLS/HHR shows an accumulation attempt before price finally takes off. This "accumulation" will most likely get most of the traders on board before price reverses but with your single bar swing points, the...

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Quoting Pinbar

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{quote} I am not Ghous but, IMHO in this case it is not really the size of the wick that is causing problems, it just does not have enough buyers jumping in or sellers on the wrong side of the fence. {image}

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Quoting KOS-fx

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{quote} Here you go https://www.youtube.com/watch?v=k9-h8QHkVqw

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Quoting dyscan

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{quote} {quote} Hey! Thanks for answers. If we look at the situation now... I don't know, if it's correct, but to me it looks like FTA (on 4H chart) that I mentioned before now become STA and new FTA is made of recent 4H highs. If we look at bigger picture (1D chart), there is not visible new FTA from 4H chart. Can we rely on 1D chart FTA and take trade if we see fake out "material" or we should better skip this trade because new FTA on 4H chart is too close from HHR. {image} {image}

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Quoting shahzad0able

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WOW "A bit about me and my style I am 23 years old and downloaded my first demo mt4 at 18. Since my time here at FF, I have gone through many different trading systems, some of which are still active today and kicking along as they should. The real breakthrough came about when I dropped by the James16 thread and the rest is really memorable history. For quite some time I wouldn't consider myself a true trader if I wasn't looking at my charts 6 hours a day with at least 10-15 trades per day. It was not until a couple of years that I realized I wasn't...

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Quoting Pinbar

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Let's see what this can do at this level or, if it is going to go for the lower level. {image}

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Quoting KOS-fx

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{quote} Hey Pin, BRN 1.6400 seems to be problem area and It has been holding historically very well. For a conservative trader will you recommend waiting for price close above on 1.6400 at least in 4H. Regards Kosala

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Quoting hollowhead

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Hi - not sure how, but I ended up on T2W reading a thread about BE stops, primarily why do good trades reverse take out the BE stop and then shoot for a massive profit (which we are now out of) This has got me thinking - but I could do with confirmation as to whether my thought process is on or off. Following Ghous' method we trade a fakey - normally showing through a PB at HHR/LLS. This is because the big boys have their orders stacked there because they know it's where the retail traders have their stops/orders. But, they also know that a lot...

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Quoting hollowhead

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Hi - not sure how, but I ended up on T2W reading a thread about BE stops, primarily why do good trades reverse take out the BE stop and then shoot for a massive profit (which we are now out of) This has got me thinking - but I could do with confirmation as to whether my thought process is on or off. Following Ghous' method we trade a fakey - normally showing through a PB at HHR/LLS. This is because the big boys have their orders stacked there because they know it's where the retail traders have their stops/orders. But, they also know that a lot...

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Quoting LamerTrader

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{quote} You will never get a clear yes or no answer, however your arguments are valid. Note that Tom mentioned a LOT of factors that he considers before taking a trade. (Sentiment, Time, News etc.) e.g.: There was a GBP news on Tuesday which crashed my EG trade.. What this positive GBP news can give to pros is a reason to go and pick up those BEs and Stops under it... I mean it was obvious that the positive GBP news will strengthen the GBP... --> GBP falling down - Stops under us... Why not give some extra thrust and make sure that we reach those...

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I will wait for a close below the LLS before I cut it loose.

Quoting Pinbar

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I suspected price was going to test the 365 and possibly, the previous lower fake out, that is why I gave it room to hit more TP areas of the people who were short. A TP is also a reversal of the order just as hitting an SL is. There again, this was a Friday bar and thus, could be not as indicative as the above so much, I shall watch it closely next week. {image}

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Quoting needtolearn

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Finally, a good thread where I think I will be able to improve a lot . Like @Pinbar, I also analyzed the EurNzd as the same. My question is since the first trouble area is so near and sl seems to be big in this trade. What do you think the chances are that this trade will play out properly. {image}

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Quoting ghous

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{quote} I am sure this is just a demo trade to test various stuff out. Driving straight for the storm isn't a great idea. Think on the positive side. A delayed entry possibly at the point marked out on my chart, 1) helps see through the trouble area, and utlizies the FTA as a source of further support and cushion and 2) confirms the fake out as really valid (as of course price would need to push through all that trouble to close above it all and then pull back to it to get you interested. {image} On the flip side, is it possible that Monday open...

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