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Uncle Uncle!!

  • Post #1
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  • First Post: Jul 11, 2006 10:22pm Jul 11, 2006 10:22pm
Look for 'uncle points' on the tick to 1 minute to 5 minute charts. On a mild volatility day which are the best days. People will throw in the towel and exit out of their loosing positions, or the novices entering at the parabolic spikes with the curve. Countering the uncle points direction, lets you scalp with market orders paying that 5 pip spread to the market makers.
Price is the only indicator.
can you elaborate a little, maybe with a chart, Thnx
Same Whore .... Different Dress
Price Action = Price Anticipation = Price Entry


Most of price action is emotion based. And a good deal of it is stops being triggered that allows the price to slip beyond equilibrium levels. At the moment I'm scalping USD/JPY and other majors. I saw a spike up, which has innate emotion of future price direction built into it. Its almost a orgasmic reaction. Novices see the price moving up and jump on in the same direction, anticipating further spikes. The nature of a spike is time related, they have a lifespan of minutes to less then 5 minutes. Once this orgasmic reaction subsides, people start doubting their entries, and see that the price is stalling. They are shaky positions. I shorted usd/jpy just a few minutes ago, at 114.43, then exited at 114.40. Made 3 ticks. The market gives you an indication how much it is willing to give you. Meaning the price wont counter its initial spike by much, on a very bullish day. On a neutral day, the counter trend to the spike might give more profitability. Another target for usd/jpy would be 114.30, which should hit in just a few miutes from now. There is really no news at the moment to drive the price out of momentary equilibrium. I wish I could post charts easier here.
Price is the only indicator.
As a beginner myself, I find your post very interesting. How can one tell the difference though between a spike that is just taking S/Ls out, and a real deal directional move that is going to hit again in the near term?
Quoting Spectre2006
Price Action = Price Anticipation = Price Entry


Most of price action is emotion based. And a good deal of it is stops being triggered that allows the price to slip beyond equilibrium levels. At the moment I'm scalping USD/JPY and other majors. I saw a spike up, which has innate emotion of future price direction built into it. Its almost a orgasmic reaction. Novices see the price moving up and jump on in the same direction, anticipating further spikes. The nature of a spike is time related, they have a lifespan of minutes to less then 5 minutes. Once this orgasmic reaction subsides, people start doubting their entries, and see that the price is stalling. They are shaky positions. I shorted usd/jpy just a few minutes ago, at 114.43, then exited at 114.40. Made 3 ticks. The market gives you an indication how much it is willing to give you. Meaning the price wont counter its initial spike by much, on a very bullish day. On a neutral day, the counter trend to the spike might give more profitability. Another target for usd/jpy would be 114.30, which should hit in just a few miutes from now. There is really no news at the moment to drive the price out of momentary equilibrium. I wish I could post charts easier here.
You still have a long way to go, but i see a very bright future ahead of you. Keep working this line of thought.
Quoting Spectre2006
Look for 'uncle points' on the tick to 1 minute to 5 minute charts. On a mild volatility day which are the best days. People will throw in the towel and exit out of their loosing positions, or the novices entering at the parabolic spikes with the curve. Countering the uncle points direction, lets you scalp with market orders paying that 5 pip spread to the market makers.
What are "uncle points"?

Dane
  • Post #7
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  • Last Post: Jul 13, 2006 6:50pm Jul 13, 2006 6:50pm
Here is a interesting video about the psychology of a move, or missing the move. The video starts off like it is going to be another boring pattern/breakout explination and not even on the Forex market, but it has a wee gem of information in it.......... I think.

http://www.trade2win.com/media/knowl...T2Wlesson.html

Dean.
perception is reality
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