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Mastering the Art of Trading

  • #761
  • Sep 21, 2013 2:57am Sep 21, 2013 2:57am
Quoting cemfx
{quote} The AUDCHF does look interesting but isn't there a nearby trouble area? {image}
Hey Cem,

Just to add to what Aser said,

We've been talking about that consolidation box above the HHR. We've seen how price has been holding up at that HHR perfectly despite various tests (i.e no 4H bar close below the HHR until now when we have broken out of it). Now that we have closed below, does it make sense for price to find support off of that same period of former resistance and move right back into that consolidation box above the HHR all over again?

Simply put, price will normally look to take the path of least resistance, and I am not sure what would motivate buyers to want to come in at that FTA you pointed out to take price back into that tight consolidation box.

g.
I believe . . .
  • #762
  • Sep 21, 2013 3:31am Sep 21, 2013 3:31am
Next weeks watch list.
Ghous, if you have an opinions or advice, I am all ears.
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  • #763
  • Sep 21, 2013 4:29am Sep 21, 2013 4:29am
Quoting ghous
{quote} Here's the video:g.
I take my hat off to you G for the amount of time and effort you put into explaining things. I hope your thread becomes a beacon for new traders.

All the best.
  • #764
  • Sep 21, 2013 4:53am Sep 21, 2013 4:53am
Quoting Quidsey
{quote} I take my hat off to you G for the amount of time and effort you put into explaining things. I hope your thread becomes a beacon for new traders. All the best.
senior, if I will trade with 30MIN TF, what Higher TF is relevant to me?
  • #765
  • Sep 21, 2013 4:56am Sep 21, 2013 4:56am
Quoting ghous
{quote} Hey there, Notice how price has actually broken out of a major wedge. Even if it fakes out here, its heading back into a lot of traffic as well as pulling back to that former trnd line that broke through. Once again guys, its not just about looking at swing points and pointing out fake out off of those. You've got to put it all itno the perspective of the bigger story and work around all the factors at play. {image} Hope this helps. g.
Agree.
Per aspera ad astra
  • #766
  • Sep 21, 2013 5:01am Sep 21, 2013 5:01am
Quoting faststare08
{quote} senior, if I will trade with 30MIN TF, what Higher TF is relevant to me?
Lets keep G's thread focused on D1 TF, I'll reply on mine.
  • #767
  • Sep 21, 2013 5:31am Sep 21, 2013 5:31am
Quoting Quidsey
{quote} Lets keep G's thread focused on D1 TF, I'll reply on mine.
what do you mean with this senior Q?
  • #768
  • Sep 21, 2013 5:42am Sep 21, 2013 5:42am
Quoting Quidsey
{quote} I take my hat off to you G for the amount of time and effort you put into explaining things. I hope your thread becomes a beacon for new traders. All the best.
Hey Q,

Glad you're enjoying them.

g.
I believe . . .
  • #769
  • Sep 21, 2013 5:45am Sep 21, 2013 5:45am
Quoting Quidsey
{quote} Lets keep G's thread focused on D1 TF, I'll reply on mine.
Its ok. This thread is about a method. Not a rigid system stuck on a single time frame.



g.
I believe . . .
  • #770
  • Sep 21, 2013 11:47am Sep 21, 2013 11:47am
Quoting ghous
{quote} Its ok. This thread is about a method. Not a rigid system stuck on a single time frame. g.
Hi ghous and Pinbar and everybody else within this thread. I have to say what an excellent thread. I have spent the last couple of days reading the whole thread. ghous you have dedicated many hours of hard work to try and simplify a method of trading and have made a brilliant job of it. Well done buddy.

I don't have the time I used to have to trade because of my business getting bigger and my business means lots of working away from home. I was looking for a change of methods to allow part time trading just looking for one or two quality trades a month, and this is just perfect for me trading the daily time frame.

I am in no rush to make loads of money ( I have been lucky to be profitable in my trading after blowing up a few small accounts in my first couple of years.) so I can take my time to only take good trades and use sound money management.

I would like to keep poping in and hopefully feel welcome here.

Thanks again ghous for an excellent thread and thank you Pinbar for your brilliant input
Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
  • #771
  • Sep 21, 2013 1:19pm Sep 21, 2013 1:19pm
Quoting Seabreeze
{quote} Hi ghous and Pinbar and everybody else within this thread. I have to say what an excellent thread. I have spent the last couple of days reading the whole thread. ghous you have dedicated many hours of hard work to try and simplify a method of trading and have made a brilliant job of it. Well done buddy. I don't have the time I used to have to trade because of my business getting bigger and my business means lots of working away from home. I was looking for a change of methods to allow part time trading just looking for one or...
Hey Seabreeze,

You are more than welcome here.

We will await your dropping by

g.
I believe . . .
  • #772
  • Sep 22, 2013 4:08am Sep 22, 2013 4:08am
Quoting aserbfx
{quote} for me the trouble area you are talking about is no more valid because price break through it lately. it would be a problem if price runs sideways at the last move up (where i draw the box). or in other words: it hasn't been a problem for the last move up. why should it now? and now price "visits" the box further left for the first time ... and reacts... how beautiful... {image}

There is a clear trouble area very near the entry that has not been tested yet so i do not understand why somebody would take this trade???
  • #773
  • Sep 22, 2013 7:46am Sep 22, 2013 7:46am
Quoting Oakwoodinc
{quote} There is a clear trouble area very near the entry that has not been tested yet so i do not understand why somebody would take this trade???
Well, it is basically the considerable amount of time that price spent consolidating in the box.
And, the comparative lack of possible resistance areas below price, compared to the previous support and consolidation above the level.
It is still possible that price could find support there but as Ghous said, there are not going to many people interested in buying into all that consolidation above.

Hope the charts show what I mean.
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  • #774
  • Sep 22, 2013 10:06am Sep 22, 2013 10:06am
Triple top formation on weekly. Nice fakey scenario. Fakey bar rejecting brn 15600. Plenty of space.

Neytiri
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  • #775
  • Sep 22, 2013 1:27pm Sep 22, 2013 1:27pm
Quoting Pinbar
{quote} Well, it is basically the considerable amount of time that price spent consolidating in the box. And, the comparative lack of possible resistance areas below price, compared to the previous support and consolidation above the level. It is still possible that price could find support there but as Ghous said, there are not going to many people interested in buying into all that consolidation above. Hope the charts show what I mean. {image}
Thanks Pinbar. Exactly what I would have said.

g.
I believe . . .
  • #776
  • Sep 22, 2013 1:43pm Sep 22, 2013 1:43pm
Quoting Neytiri
Triple top formation on weekly. Nice fakey scenario. Fakey bar rejecting brn 15600. Plenty of space. Neytiri {image}
Looks good Neytiri,

Love the regular macd bearish divergence on it too.

g.
I believe . . .
  • #777
  • Sep 22, 2013 2:29pm Sep 22, 2013 2:29pm
Quoting Neytiri
Triple top formation on weekly. Nice fakey scenario. Fakey bar rejecting brn 15600. Plenty of space. Neytiri {image}

Looks lovely Neytiri..good find!
USD bulls lining up to charge looks like
  • #778
  • Sep 22, 2013 4:49pm Sep 22, 2013 4:49pm
I am in long on USD/CAD (daily chart). Will be back with charts and stuff later (half asleep as its 240 am here).

cheers

g.
I believe . . .
  • #779
  • Sep 22, 2013 5:24pm Sep 22, 2013 5:24pm
Nice thread Ghous,

Just spent the weekend getting caught up. I've been more of a breakout trader, but I've already learned alot from your clear explanations along with those from the other contributors.

I'll be following with interest and post from time to time when appropriate.
  • #780
  • Sep 22, 2013 7:23pm Sep 22, 2013 7:23pm
Quoting ghous
{quote} Hey there, Notice how price has actually broken out of a major wedge. Even if it fakes out here, its heading back into a lot of traffic as well as pulling back to that former trnd line that broke through. Once again guys, its not just about looking at swing points and pointing out fake out off of those. You've got to put it all itno the perspective of the bigger story and work around all the factors at play. {image} Hope this helps. g.
Thanks Ghous... Got the story..
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