That's what I would count on.
Even if the Market is offering more.
Trade the facts, not opinions.
Price Action in Day Trading by Dadas
- #3,281
- Oct 10, 2013 10:11am Oct 10, 2013 10:11am
- | Commercial User | Joined Sep 2012 | 3,282 Posts
That's what I would count on.
Even if the Market is offering more.
- #3,283
- Oct 10, 2013 12:10pm Oct 10, 2013 12:10pm
- | Commercial User | Joined Sep 2012 | 3,282 Posts
{quote} Is that because itīs the BO? So did you use the Daily Range or Body ATR closest to it? Or did you choose this level because itīs closest to current price? Youīre looking at BO levels now because in this case supply is strongest at the top so that would have been a reasonable target?
That's my answer.
Trade the facts, not opinions.
- #3,285
- Oct 10, 2013 12:17pm Oct 10, 2013 12:17pm
- | Commercial User | Joined Sep 2012 | 3,282 Posts
Another way to show it:
Trade the facts, not opinions.
- #3,288
- Oct 12, 2013 3:17am Oct 12, 2013 3:17am
- | Commercial User | Joined Sep 2012 | 3,282 Posts
Youīre looking at BO levels now because...?
Any Trend can only Continue or Reverse after Breaking Out of a certain Price Level.
That Price Level is the Close Price of a Trend Candle!
Very similar to the way we looked at Price Break Out of PTECZ, which still stands true,
the understanding and the ability to see the Trend BO's solves the Trend problems.
I hope we all understand what a Trend Candle is?
This image illustrates how tu use Trend BO's to determine Continuation or Reverse:
Following the plotted lines:
Close of Bear Trend Candle sets BO Level (Red).
2 hours of Consolidation, no Candle ever Closes above the BO Line.
Next Bear Trend Candle sets new BO Level (Red).
1 hour of Consolidation which Closes below BO Line.
Another Bear Trend Candle which sets new BO Level (Red).
1st hour of Consolidation which Closes just on the BO Level, but above.
2nd hour Closes above Bear BO Line, sets new BO (Green), but does not cover the previous Bear Trend Candle.
The Bull Trend is weak, IOW, there are not enough Sellers to satisfy the Demand.
3rd hour Bulls get serious, there was somebody who was willing to Sell some Big Lots which satisfied the Demand.
And the Close of that Bull Candle set a new Bull BO (Green) which also Broke a higher Bear BO.
This is where we can start considering the Reverse of General Trend!
Because the Previous Bear Trend Candle has been covered, Bought Back, and most of another Bear Trend Candle, too.
So, now we've got the BO structure, hopefully you can see the PTECZ's in that structure.
Now, you can Trade with Style! Now, you can see where the Major BO's are.
Now, you can follow Price Action and set your Targets.
Now, you can switch to lower Tf's, if you like to take the smaller Trends.
Or, knowing what to look for, you can plot a Rectangle:
Trade the facts, not opinions.
- #3,289
- Oct 12, 2013 3:58am Oct 12, 2013 3:58am
- | Commercial User | Joined Sep 2012 | 3,282 Posts
BTW:
I hope that those of you who have been studying, will now have realised
what the Candle pointed to was all about:
Nobody was hunting for your SL.
Somebody Big Guy who had gone Long, found another Big Guy who was willing to Sell him a Big Chunk,
he Bought it and, moved the Price for long enough to Clear Out his Long, c/z he saw what was coming.
That's pictured in a short-cut, c/z in reality it was a very complex set of events, including a lot of High Frequency Trades.
I hope that those of you who have been studying, will now have realised
what the Candle pointed to was all about:
Nobody was hunting for your SL.
Somebody Big Guy who had gone Long, found another Big Guy who was willing to Sell him a Big Chunk,
he Bought it and, moved the Price for long enough to Clear Out his Long, c/z he saw what was coming.
That's pictured in a short-cut, c/z in reality it was a very complex set of events, including a lot of High Frequency Trades.
Trade the facts, not opinions.
- #3,290
- Oct 12, 2013 4:46pm Oct 12, 2013 4:46pm
{quote} ...... Now, you can Trade with Style! ........Now, you can switch to lower Tf's, if you like to take the smaller Trends. {image}
Use the Trend Candle BO lines to confirm Trend changes.
This is great for smaller tF trading.
For example, the H4 has the current Red/Green BO lines and the Pteczs.
On the M15 the Dark Blue and Yellow BO lines help to clarify trade direction.
- #3,291
- Oct 12, 2013 5:26pm Oct 12, 2013 5:26pm
- | Commercial User | Joined Sep 2012 | 3,282 Posts
Trade the facts, not opinions.
- #3,297
- Oct 14, 2013 5:01am Oct 14, 2013 5:01am
- | Commercial User | Joined Sep 2012 | 3,282 Posts
GOLD {image} H1 on Weekly Candle zone with Daily rectangle showing local trend is the downside. currently sitting at weekly and daily support region. h1 ptecz in green. bearish candle bounced off lows giving us the ptecz. subsequent bars show buyers around these level. i used the HILO script and the buy stop was at 1270. sl will be below ptecz looking for prices to head up towards the next ptecz but will watch PA.
And, I like your analisys very much - clear, simple.
I wasn't able to Enter there, c/z I am still sleeping at that time!
So, an advantage for you!
Trade the facts, not opinions.
- #3,298
- Oct 14, 2013 7:14am Oct 14, 2013 7:14am
- | Commercial User | Joined Sep 2012 | 3,282 Posts
I was a bit undecided, but after all,
I set up my Buy Stop after the hour Close,
and upon signals and Price Action.
tonyxc has, probably, gotten many more Pips than me!
I set up my Buy Stop after the hour Close,
and upon signals and Price Action.
tonyxc has, probably, gotten many more Pips than me!
Trade the facts, not opinions.
- #3,300
- Oct 14, 2013 9:40am Oct 14, 2013 9:40am
- | Commercial User | Joined Sep 2012 | 3,282 Posts
Trade the facts, not opinions.