If you want to make
Something has to hold
And
Something has to break
Something has to hold
And
Something has to break
The magical mystery tour of the divine markets
- #383
- Feb 27, 2014 10:34am Feb 27, 2014 10:34am
- Joined Aug 2010 | Status: Chaos is a ladder | 1,268 Posts
"To hold, you must first open your hand. Let go." - Lao Tzu
Hey look, nearly 70% on FF have been short cable all week
I see long trades off the lows every single day this week
From the highs?
You do know that 'confirmed' resistance gets weaker ever time it is hit, NOT stronger.
You do know that every move starts on the tick chart, not on the monthly chart?
Say again?
You're looking at it backwards.
Any move starts on the tick chart.
You see a magic H4 bar and then enter. Congratulations - you're going short because the market went short 4 hours ago.
I see long trades off the lows every single day this week
From the highs?
You do know that 'confirmed' resistance gets weaker ever time it is hit, NOT stronger.
You do know that every move starts on the tick chart, not on the monthly chart?
Say again?
You're looking at it backwards.
Any move starts on the tick chart.
You see a magic H4 bar and then enter. Congratulations - you're going short because the market went short 4 hours ago.
I see you really haven't got the hang of Stale Wind FF
Today's range so far is??
Gave the wife a damn good slap last night, sent her off to the workhouse today, thinking of pimping her out, only no one would have her
Not trading today. Made too much damn money this week already.
Done for the week.
Off to the golf club.
Got traped today with EUR/USD sitting on a short, and it went long, Big Time.... Traped- 
Wheres that 7 pip SL when you need it!
Good thing my account is so big that I can survive under water for a long time
Stale wind was blowing but I must have been upwind
Wheres that 7 pip SL when you need it!
Good thing my account is so big that I can survive under water for a long time
Stale wind was blowing but I must have been upwind
Live today like theres no tomorrow-- Prioritize like you will die today
- #389
- Feb 28, 2014 9:58am Feb 28, 2014 9:58am
- Joined Aug 2010 | Status: Chaos is a ladder | 1,268 Posts
I deleted it: if you trade with a 7 pip stop it's your issue. OANDA went down for over an hour - all their servers went out
"To hold, you must first open your hand. Let go." - Lao Tzu
Re your EU. This is hindsight. I don't know where you were or what you did
EU is a basket case, too many traders, too many trade it making it even more efficient. Price moves between all levels until all participants are wiped out. That's what the market it does. It moves from size to size, in the meantime, smaller size must be assimilated. Know where size is.
Note I don't draw it all on the chart, after a while you don't need to draw much at all, you know what you seek
EU is a basket case, too many traders, too many trade it making it even more efficient. Price moves between all levels until all participants are wiped out. That's what the market it does. It moves from size to size, in the meantime, smaller size must be assimilated. Know where size is.
Note I don't draw it all on the chart, after a while you don't need to draw much at all, you know what you seek
Buuuuuu... Eeeerrrrr?
I need to finish something i started
Buuuuuu... Eeeerrrrr?
I tried a counter trend trade and I knew at the time I should not have placed the trade. Famous bolocks last words......
Im listing and looking at the charts you have provided --
If EU gives me a good retrace, I can get out of the bull trap
Live today like theres no tomorrow-- Prioritize like you will die today
Maybe - if you got caught short and it went long to the upper level there's no guarantee it's going to come back - that's the same kind of thinking you should be using when you enter: WHO got caught going the wrong way???
Everyone expects price to be resisted at a small near term level...to have a hope of being successful you have to try to think what everyone else thinks in the near term then presume the absolute opposite and then wait for price to show you the truth.
The large level is just a potential level, nothing more (what does it look like on the weekly or monthly chart?) - it's not fresh now having been hit 3 times already - price can go way beyond it even if it is going to come down - see the pin then went all the way through before? A level is only valid once near term PA says it is....ALL moves begin on the tick chart. You choose your price areas from large charts and you make your entry decisions from small charts BUT you are still trading the large charts. So many do it @rse about face and then come out with cr@p like 'supply and demand doesn't work'....yeah, because you don't know what you're doing
You need to be able to be able to manage 2 concepts at the same time.
1. Supply/demand is going to hold
2. Supply demand is going to break
Supply and demand doesn't work.....think THAT one over...what a load of b0ll0cks. The entire market runs on supply and demand so I guess the market is broken then....
Oh
It IS
Wishing for price to come back is a gamble pure and simple but it MAY at least back down to the breakout level...caveat being it's the weekend etc etc
Good luck.
Everyone expects price to be resisted at a small near term level...to have a hope of being successful you have to try to think what everyone else thinks in the near term then presume the absolute opposite and then wait for price to show you the truth.
The large level is just a potential level, nothing more (what does it look like on the weekly or monthly chart?) - it's not fresh now having been hit 3 times already - price can go way beyond it even if it is going to come down - see the pin then went all the way through before? A level is only valid once near term PA says it is....ALL moves begin on the tick chart. You choose your price areas from large charts and you make your entry decisions from small charts BUT you are still trading the large charts. So many do it @rse about face and then come out with cr@p like 'supply and demand doesn't work'....yeah, because you don't know what you're doing
You need to be able to be able to manage 2 concepts at the same time.
1. Supply/demand is going to hold
2. Supply demand is going to break
Supply and demand doesn't work.....think THAT one over...what a load of b0ll0cks. The entire market runs on supply and demand so I guess the market is broken then....
Oh
It IS
Wishing for price to come back is a gamble pure and simple but it MAY at least back down to the breakout level...caveat being it's the weekend etc etc
Good luck.
- #400
- Edited 3:22pm Mar 4, 2014 1:58pm | Edited 3:22pm
S/D levels and S/R are similar but not quite the same and they're not the same in their usage.
S/R levels are generally drawn from extremes of market turning points. The more times a level is hit the stronger it is thought to be. Now stick a fractal indicator on your chart and sh1t yourself
S/D levels - CAN be at pivots but can also be mid-trend.
There are 3 things defining a level
1. Time at the level
2a. How fast price left the level
2b. How much continuous momentum from the level
3. Momentum broke through a perceived support/resistance level
Plus one more point of logic, which is this: the times price returns to the level the WEAKER it gets, why? Because the assumption is that if there were N orders at the level, each time price returns, a certain amount get filled: obviously this is more relevant to nearer term levels. It is unlikely that the theory hold when viewing a level on the monthly chart from 3 years ago BUT there are other reasons then why price MAY react to the level (fundamental).
Also good to note: say you see a large momentum breakout on the H1 chart and price moves 80 pips in 4 hours. Price then meanders back down to the level over a period of 8 hours. What does that tell you?
You draw your lines, have an idea then trade that idea
These are just for noting levels
The entry you do the complete opposite...or maybe you don't, maybe the logic is exactly the same but just happening a whole lot quicker? Momentum breaks something and price returns somewhere??
Look for large continuous movements breaking out from 'somewhere'
See a large bar from a swing high - look to a smaller chart to see the breakout area
S/R levels are generally drawn from extremes of market turning points. The more times a level is hit the stronger it is thought to be. Now stick a fractal indicator on your chart and sh1t yourself
S/D levels - CAN be at pivots but can also be mid-trend.
There are 3 things defining a level
1. Time at the level
2a. How fast price left the level
2b. How much continuous momentum from the level
3. Momentum broke through a perceived support/resistance level
Plus one more point of logic, which is this: the times price returns to the level the WEAKER it gets, why? Because the assumption is that if there were N orders at the level, each time price returns, a certain amount get filled: obviously this is more relevant to nearer term levels. It is unlikely that the theory hold when viewing a level on the monthly chart from 3 years ago BUT there are other reasons then why price MAY react to the level (fundamental).
Also good to note: say you see a large momentum breakout on the H1 chart and price moves 80 pips in 4 hours. Price then meanders back down to the level over a period of 8 hours. What does that tell you?
You draw your lines, have an idea then trade that idea
These are just for noting levels
The entry you do the complete opposite...or maybe you don't, maybe the logic is exactly the same but just happening a whole lot quicker? Momentum breaks something and price returns somewhere??
Look for large continuous movements breaking out from 'somewhere'
See a large bar from a swing high - look to a smaller chart to see the breakout area
