Take what the market gives you.
- #63,062
- Dec 5, 2013 1:09am Dec 5, 2013 1:09am
- Joined Nov 2013 | Status: Member of the 5% club | 1,259 Posts
{quote} Same with me; but I don't see your SL .... Did you settup your SL ?
- #63,063
- Dec 5, 2013 1:12am Dec 5, 2013 1:12am
- Joined Nov 2013 | Status: Member of the 5% club | 1,259 Posts
{quote} If your scout entry zones are correct, then use lowest swing lows for stops on buy trades (reverse is the case when selling). You can't afford to set too tight stops most especially on highly volatile currencies like GBP. Allow the trade to breathe a little, making allowance for stop hunting. It's a delicate balancing act.
Try to keep calm and wait for another entry; good luck bro
- #63,066
- Dec 5, 2013 1:34am Dec 5, 2013 1:34am
- Joined Nov 2013 | Status: Member of the 5% club | 1,259 Posts
NDZ/USD = BULL {image}
D1 Dragon not inspiring much confidence yet
- #63,067
- Edited 2:36am Dec 5, 2013 1:48am | Edited 2:36am
{quote} ...maybe up till 0.8255. After that Im not so sure. D1 Dragon not inspiring much confidence yet
I am amazed by your strategy. May I ask about the dotted lines on your volumes ? Do you only look at volume that reached those lines ?
Also, how do you set your TP ?
Take what the market gives you.
Short NZD/USD
Reasons :
1. Weekly bias = soft bearish
2. 4H possible downtrend continuation
3. Short formation on 15M
Opened one scout a little before my scout zone. Stop loss in place above swing high.
Pending order for classic entry in place.
Comments welcome !
Happy trading
Reasons :
1. Weekly bias = soft bearish
2. 4H possible downtrend continuation
3. Short formation on 15M
Opened one scout a little before my scout zone. Stop loss in place above swing high.
Pending order for classic entry in place.
Comments welcome !
Happy trading
- #63,069
- Dec 5, 2013 3:58am Dec 5, 2013 3:58am
- Joined Mar 2013 | Status: In the learning phase.. | 1,377 Posts
{quote} Thanks loeil, glad you liked it. GU is in a very nice setup right now as well. Waiting to see how to close this H1 candle but if you see 3 volume in both legs of the "M", it looks very bearish. 3 push down, W, 3 push up, M, ... Best, Tymedu. {image}
Just remembered your 3 wave thing and want to ask is there any reading stuff about this 3 wave thing?
Whatever is obvious is obviously wrong!"
- #63,071
- Edited 6:33am Dec 5, 2013 6:11am | Edited 6:33am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
{quote} Just to clarify. I did not say that I know where will the price go, I said that it's possible to know it. I'm still a novice trader who is focussing in that area. It's all about study, practice and experience, as I said. I always shared my theories here, but only because they were related with SonicR System. If I stopped doing it it's because of that, because they are not related anymore with SonicR System. But the fact is that once you know how the market works and how the big boys act, the only thing you have to do is to follow their track....
"There is a way to identify when a trend is technically broken, there is a way to identify traps and stop hunts and there is a way to identify market cycles. Please, do not say they doesn't exist only because you don't know it." - Tymedu
Tymedu,
The first statement of yours above is the kind that I have problems with. You use the future tense "will", saying it is possible to know in advance how price will move. Nope, never.
And I did not say it is impossible to identify when a trend is technically broken, traps, stop hunts and market cycles, etc.. Of course you can identify when a trend is technically broken,.....after it is broken! We cannot know when it will be broken!
I think we have to be careful when stating things, especially careful about the use of terms denoting future tense. It is one thing to analyze charts (what has already happened) and to extrapolate to yield possibilities that could arise. It is quite another thing to believe we can know in advance what will actually happen, and when. There is a big difference! I wholeheartedly agree with you on the value of the former. It is too bad the latter is impossible, because if it were possible then we'd all be stinking rich by now.
- #63,072
- Edited 6:52am Dec 5, 2013 6:25am | Edited 6:52am
{quote} "Just to clarify. I did not say that I know where will the price go, I said that it's possible to know it." - Tymedu "There is a way to identify when a trend is technically broken, there is a way to identify traps and stop hunts and there is a way to identify market cycles. Please, do not say they doesn't exist only because you don't know it." - Tymedu Tymedu, The first statement of yours above is the kind that I have problems with. You use the future tense "will", saying it is possible to know in advance how price will move. Nope, never....
Check the image I posted before and look where the NZDUSD is now (even with fundamentals shaking the price out). Luck?
Best, Tymedu.
PD: fex, I can't reply your PM, you probably have some settings changed.
To fail is just an opportunity to learn
- #63,077
- Edited 8:55am Dec 5, 2013 7:30am | Edited 8:55am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
{quote} I'm not here to convince you. I'm just giving my opinion. It's possible to predict where the price will go, but of course is extremely difficult. There is a way to know where will go. However, there are more variables like how or when, those are (as far as I know) impossible to predict. Check the image I posted before and look where the NZDUSD is now (even with fundamentals shaking the price out). Luck?
No, not luck. Look at these charts. It is easy to see how PA uses whole, half, and quarter Levels to meander around. Same with all pairs. No luck, no magic, no expertise required. Been saying this for years. And why is this? It is because the market prefers to use these areas to switch positions; just below them to buy (to close shorts and to open longs) and just above them to sell (to close longs and to open shorts). PVSRA. Of course, nothing is exacting, precise and unchanging. No, the market's pricing constantly undershoots and overshoots targets by varying amounts, which is why price "meanders" around the "Levels". But these Levels are always the general targets of inter-day swings that typically go for 100+, 150+, 200+, 250+, etc. pips, depending on what the market has in mind. The Levels are extremely important, and using Levels as target areas when trading is extremely simple, which is why I included them in the SonicR Control Panel.
The second chart shows just how significant Levels are, and how they are consistently used by the market as the general target of their price swings. You will see how particularly important are the whole and the half number Levels.
And so, instead of your depiction/prediction (below), NU bounced at the half number (below). It was where big volume transacted previously and afterwards where price also bounced. This is not something that we could have been certain would happen. No, but it was a possibility that could be extrapolated from analyzing previous price action, volume and SR (Levels), or PVSRA. Nothing is certain. Many things are possible.
-tah
- #63,078
- Dec 5, 2013 8:54am Dec 5, 2013 8:54am
- Joined Mar 2013 | Status: In the learning phase.. | 1,377 Posts
GJ - starting to add short positions. {image}
Whatever is obvious is obviously wrong!"
- #63,079
- Dec 5, 2013 9:00am Dec 5, 2013 9:00am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #63,080
- Dec 5, 2013 9:05am Dec 5, 2013 9:05am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
{quote} GJ - closed for 6247 pips gain
What can I say, .....6,247 pips gain......!
I think I will blow up this chart into a huge picture and put it on my wall. The caption will read, "Don't be a wimp. If you're a trader, then trade!"
Looks to me like the MMs finally brought the price down simply because they gave up trying to get you to give up!
