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ReadtheMarket - Supply and Demand with Price Action

  • #501
  • Mar 14, 2014 10:36am Mar 14, 2014 10:36am
Price Reading is about getting in at the correct end of what others call Price Action Candles
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  • #502
  • Mar 14, 2014 10:58am Mar 14, 2014 10:58am
Quoting Ifmyante
Price Reading is about getting in at the correct end of what others call Price Action Candles {image}
But you enter trade before forming pinbar. How did you do that? Do you see decision points? I am currently focusing on decision points, Supply and demand, SR flip levels, flag limits.
-milkeyway
  • #503
  • Mar 14, 2014 11:05am Mar 14, 2014 11:05am
Quoting Ifmyante
Price Reading is about getting in at the correct end of what others call Price Action Candles {image}
I have sold it because demand got engulfed so there is no demand left there.
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-milkeyway
  • #504
  • Mar 14, 2014 11:07am Mar 14, 2014 11:07am
Breakout trading, if done incorrectly, can cause massive drawdowm. I'd advise you to be extremely careful with doing so until you're totally able to map price perfectly
  • #505
  • Mar 14, 2014 11:23am Mar 14, 2014 11:23am
Quoting Ifmyante
Breakout trading, if done incorrectly, can cause massive drawdowm. I'd advise you to be extremely careful with doing so until you're totally able to map price perfectly
I will be careful.
-milkeyway
  • #506
  • Mar 14, 2014 12:25pm Mar 14, 2014 12:25pm
double post
  • #507
  • Mar 14, 2014 12:27pm Mar 14, 2014 12:27pm
Quoting Ifmyante
Figure out my entry however with a view to FLs, and you'll know why I waited for the supplies below to break
Hi Ifmyante

I don't understand what do you mean. Could you explain what we should look for?


Are you talking about the fuel to power the movement, wich is located above those resistance?


How do you know that price is raising to gain fuel to reverse and not to continue, and how do you know that the reversal will likely occour at that point and not at another?

Like I said before, flag limits are everywhere from M1 to monthly, and only a few of these will produce decent movements, what is the logic that we should use to choose one rather than another?
  • #508
  • Mar 14, 2014 12:46pm Mar 14, 2014 12:46pm
This needs no further explanation
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  • #509
  • Mar 14, 2014 1:06pm Mar 14, 2014 1:06pm
Quoting kumaramy
{quote} But you enter trade before forming pinbar. How did you do that? Do you see decision points? I am currently focusing on decision points, Supply and demand, SR flip levels, flag limits.

Being patient is absolutely vital for making giant trades.
We must wait for the very best possible places before we enter; the places where you'd expect great PA to react
  • #510
  • Mar 14, 2014 1:10pm Mar 14, 2014 1:10pm
Quoting Ifmyante
{quote} Being patient is absolutely vital for making giant trades. We must wait for the very best possible places before we enter; the places where you'd expect great PA to react
And if I am not wrong, best possible places are... FL, QM, decision level, SR/RS flip levels.
-milkeyway
  • #511
  • Mar 14, 2014 4:28pm Mar 14, 2014 4:28pm
Flag limit that is harder to see when zoomed out. I don't like these as much because they aren't so black and white in terms of definition.

Basically you can see the candle that slams into supply. It bounces down and back up. The retest is right at the close of the two bull candles overlap. At first glance, I missed this because it doesn't follow the pragmatic pattern of bull > bear > engulf bull.

Price then came back down for the ol test-a-roo and shot north. Zooming into the 30m makes it plain as day though. Thoughts?

H1:
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M30:
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  • #512
  • Mar 15, 2014 3:03am Mar 15, 2014 3:03am
Quoting Ifmyante
Price Reading is about getting in at the correct end of what others call Price Action Candles {image}
hi IFmyants first of all thnx for sharing your knowledge about supply /demand can you tell me pls if the descripstion or the explanation on the pic is right?
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thnx
  • #513
  • Mar 15, 2014 3:47am Mar 15, 2014 3:47am
If that wasn't drawn by me, then it certainly looks like one I did some time ago

Yes, that almost says it all
  • #514
  • Mar 15, 2014 5:32am Mar 15, 2014 5:32am
Quoting Ifmyante
If that wasn't drawn by me, then it certainly looks like one I did some time ago Yes, that almost says it all
Hi IF,
How do you know that IT's makes fake move to make fool to dumb money ? How to get know which move is fake and which one is not.

Thanks.
-milkeyway
  • #515
  • Mar 15, 2014 7:16am Mar 15, 2014 7:16am
Quoting kumaramy
{quote} Hi IF, How do you know that IT's makes fake move to make fool to dumb money ? How to get know which move is fake and which one is not. Thanks.
Hi,
Sure IT will correct me if I'm wrong however for me it's just easier to think about a fake out as price trying to get to the next real level before reversing, not just breaking structure highs or lows which are retests. Look left of where price has engulfed. If it it only breaks s/r but not what the s/r is reacting to, it could be a fake out


This is also discussed at r.t.m
All the best
C
Bye Bye FF
  • #516
  • Mar 15, 2014 7:28am Mar 15, 2014 7:28am
Quoting Venice
Flag limit that is harder to see when zoomed out. I don't like these as much because they aren't so black and white in terms of definition. Basically you can see the candle that slams into supply. It bounces down and back up. The retest is right at the close of the two bull candles overlap. At first glance, I missed this because it doesn't follow the pragmatic pattern of bull > bear > engulf bull. Price then came back down for the ol test-a-roo and shot north. Zooming into the 30m makes it plain as day though. Thoughts? H1: {image} M30: {image}

Well , one could have smelled that something was about to setup... (a change in the balance of supply and demand)

1st the whole action begins on a supportish level
2nd the retest of the lows results in a higher low ( indictating no interrest to the downside)
3rd the rally which ensued was rather steep and showed some signs of strenght and took out the intermediate swing highs to the left (rangebound on smaller
tfs) ( buying pressure)
4th as the rally came to an halt at arround 38950 , the decline was rather weak and rejectet the 50% mark of the previous rally (buyers
at least stepped up to take everything the sellers got to offer/absorbtion)

as the price likes to take the path of least resistance and the downside got rejected after we had signs of strenght at a favourable level(support)
one couldawouldashoulda , have taken a long at the swing low (reaction/retest).... which is actually not the most favourabel entry point... but if one again
zooms in he could expect a momentum driven breakout which he can participate from driven by scared bears , as there was some nice selling going on at arround 38900 , but with no result in the favour of the bears .. which will make them puke as soon as the highs get takenout..

and yes its easier to spot on a smaller bar intervall.. but remember price is in a continous flow, bars/candles are just a snapshot
  • #517
  • Mar 15, 2014 7:46am Mar 15, 2014 7:46am
Quoting Chica
{quote} Hi, Sure IT will correct me if I'm wrong however for me it's just easier to think about a fake out as price trying to get to the next real level before reversing, not just breaking structure highs or lows which are retests. Look left of where price has engulfed. If it it only breaks s/r but not what the s/r is reacting to, it could be a fake out This is also discussed at r.t.m All the best C

That's quite correct.

Now, I really can't go into any more detail about how the market works and how to trade it - it really is so simple that if I spell it all out, every single one of you will trade perfectly all the time.
This, eventually, would end up taking so many of the ITs' orders from them that they'd be forced to reprogram their algorithms to move the goalposts.

That's why I'm only looking to make around 30 elite traders, who'll keep chipping away at those orders until we have the capital to break the ITs and move the market ourselves, with a new set of plays which only we know.

This would surely be a pipe-dream, did we not know exactly how to do it
  • #518
  • Mar 15, 2014 7:49am Mar 15, 2014 7:49am
here is how i interpret the action on EU in a 1 min Chart (reading the market)
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  • #519
  • Mar 15, 2014 8:13am Mar 15, 2014 8:13am
Quoting Ifmyante
{quote} That's quite correct. Now, I really can't go into any more detail about how the market works and how to trade it - it really is so simple that if I spell it all out, every single one of you will trade perfectly all the time. This, eventually, would end up taking so many of the ITs' orders from them that they'd be forced to reprogram their algorithms to move the goalposts. That's why I'm only looking to make around 30 elite traders, who'll keep chipping away at those orders until we have the capital to break the ITs and move the market ourselves,...
We will do it.
-milkeyway
  • #520
  • Mar 15, 2014 8:25am Mar 15, 2014 8:25am
Quoting Chica
{quote} Hi, Sure IT will correct me if I'm wrong however for me it's just easier to think about a fake out as price trying to get to the next real level before reversing, not just breaking structure highs or lows which are retests. Look left of where price has engulfed. If it it only breaks s/r but not what the s/r is reacting to, it could be a fake out This is also discussed at r.t.m All the best C
Hi Chica,
I read Engulf or Fakeout thread on RTM again. I didn't notice previously that IT's create FO to the FTR. Thanks for guiding. I understood that part. But now, I don't know if there is any another way to understand IT's fake moves.

Thanks.
-milkeyway
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