{quote} Hmm, interesting, I see more bearish signs there, than bullish signs. But still no confirmation.{image} {image} {image} {image} {image}
What do you think about the support I drew here?
- #59,661
- Sep 21, 2013 12:40pm Sep 21, 2013 12:40pm
- Joined Mar 2013 | Status: Trader | 6,512 Posts
What do you think about the support I drew here?
- #59,662
- Sep 21, 2013 1:12pm Sep 21, 2013 1:12pm
- Joined Mar 2013 | Status: In the learning phase.. | 1,377 Posts
{quote} Nice analysis
Important is what the price will do in the first area. If there is some high volume and buyers will jump in, it's reasonable to close the trades. Otherwise let them run and close them in the second support area.
Whatever is obvious is obviously wrong!"
- #59,663
- Sep 21, 2013 1:23pm Sep 21, 2013 1:23pm
- Joined Mar 2013 | Status: Trader | 6,512 Posts
{quote} I think that there are 2 possible support areas coming shortly. Important is what the price will do in the first area. If there is some high volume and buyers will jump in, it's reasonable to close the trades. Otherwise let them run and close them in the second support area. {image}
But, I will definitely watch those support areas for a possible scalp to the upside. Even if it does not hold, it's fine with me, I will scalp either direction. 
That's the nice thing about being a scalper. We just go with the flow like water. 
- #59,666
- Edited 2:56pm Sep 21, 2013 2:23pm | Edited 2:56pm
- Joined Mar 2013 | Status: In the learning phase.. | 1,377 Posts
{quote} If you watch these two other majors though. As you can see they refused to go down with AU and GU. Meaning, there might still be some bullish action next week. Watch these two pairs EU and NU next week, if they can break their resistances most likely it might lift AU and GU back up with them. {image}
NU I think reverse is near.
AU I see there aggressive sellers, but price holds support. Maybe we will see some pullback there, maybe it just breaks the support.
Whatever is obvious is obviously wrong!"
- #59,667
- Sep 21, 2013 2:56pm Sep 21, 2013 2:56pm
- Joined Mar 2013 | Status: Trader | 6,512 Posts
{quote} EU is interesting, because I see there buyers and sellers and lot of indecision. Confirmation needed before we can decide something. {image} {image} NU I think reverse is near. {image}
Newbies analyzing the market and not the indicators. Hey, that's how we learn 
And now, at the support and resistances that we discussed, look for a moving average cross or something that will be your scalp entry. Those are safe areas to trade in. Why? Because if you are wrong, they are the areas you can reverse to and get your money back right away. Once those major resistances are broken price might move 2-3x what you have lost.
So your 10 pips loss can get you back 20-30. ahahhh interesting isn't it? If you don't believe it, I can show you my live account statement and so far I only have 2 loosing days, this week has all been green no loss days. Trade like that and be patient Interesting coming from a newbie huh?
Heck there are people here who trades for 10 years but still can't make money. So don't think just because they have more experience than us makes them a better trader. They are just better at BS that's all.
- #59,668
- Sep 21, 2013 3:03pm Sep 21, 2013 3:03pm
- Joined Mar 2013 | Status: In the learning phase.. | 1,377 Posts
{quote} Woot awesome!!!
All the needed signs are front of our eyes, let's just look at those :nerd:Oh and by the way, someone told me some days ago that chart tells you all what you need to know, just read it! So I just decided to read it and actually I like it, because there are so much information what I didn't notice before.
Whatever is obvious is obviously wrong!"
- #59,669
- Sep 21, 2013 3:05pm Sep 21, 2013 3:05pm
- Joined Mar 2013 | Status: Trader | 6,512 Posts
{quote} Still in learning phase.. But yeah the more I watch Pete Faders videos the more I realize how important is the chart analyze.
And everyday is a learning phase for everybody
- #59,670
- Sep 21, 2013 3:10pm Sep 21, 2013 3:10pm
- Joined Mar 2013 | Status: In the learning phase.. | 1,377 Posts
{quote} Agree
Whatever is obvious is obviously wrong!"
- #59,671
- Sep 21, 2013 3:32pm Sep 21, 2013 3:32pm
- Joined Mar 2013 | Status: In the learning phase.. | 1,377 Posts
Just found out that on AU there is a harmonic pattern, can't remember which of them, but that give me more confidence of the trend direction
Whatever is obvious is obviously wrong!"
- #59,672
- Sep 21, 2013 3:40pm Sep 21, 2013 3:40pm
- Joined Mar 2013 | Status: Trader | 6,512 Posts
Just found out that on AU there is a harmonic pattern, can't remember which of them, but that give me more confidence of the trend direction
- #59,673
- Sep 21, 2013 3:53pm Sep 21, 2013 3:53pm
- Joined Mar 2013 | Status: In the learning phase.. | 1,377 Posts
{quote} Hmm... I see, cool, you could be right
I remember when I started here I watched the patterns too, but just forgot them for some reason. Now just remember and I think the more I see on the chart the better is. It can improve my trading skills also Whatever is obvious is obviously wrong!"
- #59,675
- Sep 21, 2013 5:38pm Sep 21, 2013 5:38pm
- Joined Oct 2012 | Status: Bear pips catching ....... | 165 Posts
Just found out that on AU there is a harmonic pattern, can't remember which of them, but that give me more confidence of the trend direction
If you think you can do a thing or think you can't do a thing, you're right
- #59,676
- Sep 21, 2013 6:57pm Sep 21, 2013 6:57pm
- Joined Mar 2013 | Status: Trader | 6,512 Posts
{quote} No idea but let see
Or maybe you already have an entry rule?
- #59,677
- Sep 22, 2013 2:23am Sep 22, 2013 2:23am
Hi all,
As I was just trying to understand more about the markets and more about MMs or smart money in the market, I came across the term Order Flow Trading or Order Flow Analysis.
Anyone heard of it before?
http://forums.babypips.com/free-fore...w-trading.html
Was just thinking how we could use what Master Sonic and Prof Tah has shared and taught about volume and the MMs, and how we can understand the market movers better
As I was just trying to understand more about the markets and more about MMs or smart money in the market, I came across the term Order Flow Trading or Order Flow Analysis.
Anyone heard of it before?
http://forums.babypips.com/free-fore...w-trading.html
Was just thinking how we could use what Master Sonic and Prof Tah has shared and taught about volume and the MMs, and how we can understand the market movers better
- #59,679
- Sep 22, 2013 2:49am Sep 22, 2013 2:49am
- Joined Mar 2013 | Status: In the learning phase.. | 1,377 Posts
{quote} Ok, good, so you are now bearish based on the H4. But, where will you put your stop loss and what is your TP? A system is not complete without proper SL/TP placement, you gotta figure that one out next. You already know adding and averaging made you have a huge draw down you said that yourself and you don't want a huge draw down again. Also, when you see that pattern, what is your rule of entry? You need an entry rule so that you can keep repeating the same thing over and over again once you find what works or not. This is what's going to...
But I drew where should be my trade, SL,TP by the new analyze. Something like Pete Faders taught. I told "should" because I have not made any trade by new analyze yet, still learning it. And I have a LOT of PVSRA trades still opened.
Whatever is obvious is obviously wrong!"
