Tuffy if you study volumes in the above chart in combination with the dragon and then look at the recent past on this pair....a pattern emerges how the volume candles which are missing from your image should be interpreted ......Doing this alone gives a clue market has a renewed interest and heavily biased to slide down on this pair
- #68,322
- Apr 5, 2014 3:37am Apr 5, 2014 3:37am
- Joined Nov 2013 | Status: Trading Chaos | 1,133 Posts
{quote} TAH, myself and a few others are US based... you can check every few hours, a lot of people work that way and it all depends on what you can devote and be comfortable with. The original author of the 'trading made simple' thread was based in Cali, and woke up twice for 10 minutes before the end of each 4 hour candle during the london session. I can't do that personally i sleep to heavily...it is possible to set TP's and stop losses before you go to bed ( 12-2am for me) and i have about a ~80% win ratio. or... you can focus on PVSRA where...
- #68,323
- Edited 5:13am Apr 5, 2014 4:21am | Edited 5:13am
- Joined Nov 2013 | Status: Trading Chaos | 1,133 Posts
{quote} i like this, possible start of ABC pullback. {image}
I would also like to add that having seen the recent 'selloff' from the highs we can now assume the MM's have begun their "Run for profits" phase. Given the amount of time spent accumulating short orders at the highs it holds further likely that the MM's have been and still are BEARS! However, this is not to say this pair will continue to drop to where it came from right away. No, the MM's don't work that way, they are cunning, and want to make/steal as much money as they can before closing their orders and leaving others 'holding the bag'. The way they do this is by continuously sucking in wrong side traders contrary to their true intentions
The H4 chart for this pair is a beauty as it shows the 'big picture' in detail.
Following the run down the MM's supported the price/'Stopped-the-drop' at the whole number (PVSRA) where MM's like to accumulate long orders at. On Friday during the NY session the MM's then whacked price down for further accumulation of longs forming what is known as a 'Spring'. This is done so that they are able to gain the liquidity needed for the accumulation of 'Premium orders' by fooling others into going short on what is known as a 'false breakout'. We can see by the 'Stopping Volume' on the H4 chart that the MM's were heavily buying at the lows while all of this was happening!
Knowing that the MM's move price contrary to what they want others to believe, and also knowing the MM's are bears, it would make sense that the MM's are doing this buying as a retrace move up for further reaccumulation of short orders before whacking it down even further! Though long opportunities on the M15 TF via 'Classic' entries may seem like a good trading opportunity for now, it is important to remember that it is safer to be on the same side of the MM's in the overall context as that's where the stronger shifts in price are, as opposed to any counter-MM retrace moves up as they are generally smaller and inherently more risky. This does not invalidate the trade, however if taken one should be aware it carries more risk than otherwise. The MM's are unpredictable and can leave wrong side traders on the other at end at any time. That being said we cannot know how or when price will move next, as the market is run by the greed of the MM's. I am simply only trying to warn of what 'may' occur at some point in time and to be aware of this! See attached figure.
-Sail
- #68,325
- Apr 5, 2014 8:23am Apr 5, 2014 8:23am
- Joined Oct 2012 | Status: Bear pips catching ....... | 165 Posts
{quote} I might also add that pending orders set at key PVSRA levels (1/1,1/2,1/4 numbers) the MM's like to accumulate shorts above, and longs below at, may also be a useful way of not missing out on any possible supporting scout entries.
If you think you can do a thing or think you can't do a thing, you're right
- #68,326
- Edited 9:21am Apr 5, 2014 8:24am | Edited 9:21am
- Joined Oct 2012 | Status: Bear pips catching ....... | 165 Posts
{quote} USDCAD: Don't be deceived by the cunning MM's! .. Just A Reminder. I would also like to add that having seen the recent 'selloff' from the highs we can now assume the MM's have begun their "Run for profits" phase. Given the amount of time spent accumulating short orders at the highs it holds further likely that the MM's have been and still are BEARS! However, this is not to say this pair will continue to drop to where it came from right away. No, the MM's don't work that way, they are cunning, and want to make/steal as much money as they...
U/C Price arrived exactly at Fibo 127, and now I'm waiting for the return of 1.1100 to 1.1150, it is up to the Fibo 50. And then maybe down again?
If you think you can do a thing or think you can't do a thing, you're right
- #68,327
- Apr 5, 2014 9:36am Apr 5, 2014 9:36am
- Joined Mar 2013 | Status: In the learning phase.. | 1,377 Posts
Whatever is obvious is obviously wrong!"
- #68,328
- Apr 5, 2014 10:29am Apr 5, 2014 10:29am
Hello, guys. Lately I've been busy with exams; that's why I haven't posted any thread for a while. I hope you have been successful in your trading.
I wanted to ask you one question about MMs phases (position building and run for profits) because I'm very confused with that. In theory, MMs can be in a position building or in a run for profit phase. At the beggining I thought they were completely different, but in my experience I've seen that these two phases take place at the same time. Thus, in a down trend, bears are taking advantage of that fall (run for profits) and also can be building new shorts by taking the price above key levels on pullbacks. But, simultaneously, bulls are opening longs (position building) in the view of a future rise of the price. Same with a trendup. What do you think, guys?
I wanted to ask you one question about MMs phases (position building and run for profits) because I'm very confused with that. In theory, MMs can be in a position building or in a run for profit phase. At the beggining I thought they were completely different, but in my experience I've seen that these two phases take place at the same time. Thus, in a down trend, bears are taking advantage of that fall (run for profits) and also can be building new shorts by taking the price above key levels on pullbacks. But, simultaneously, bulls are opening longs (position building) in the view of a future rise of the price. Same with a trendup. What do you think, guys?
- #68,329
- Apr 5, 2014 10:51am Apr 5, 2014 10:51am
- Joined Mar 2011 | Status: Pip Boy Wonder | 1,378 Posts
Hello, guys. Lately I've been busy with exams; that's why I haven't posted any thread for a while. I hope you have been successful in your trading.
I may not be entirely correct but this is what I have noticed
- #68,330
- Apr 5, 2014 10:59am Apr 5, 2014 10:59am
- Joined Mar 2013 | Status: In the learning phase.. | 1,377 Posts
Hello, guys. Lately I've been busy with exams; that's why I haven't posted any thread for a while. I hope you have been successful in your trading.
Run for profit means that accumulation will start. When MMs run for profit then usually herds jumping to trade, MMs taking the herd's trades for getting ready to accumulate and price starts to range.
My view of run for profit and position building
Whatever is obvious is obviously wrong!"
- #68,331
- Edited 2:21pm Apr 5, 2014 12:15pm | Edited 2:21pm
- Joined Jan 2007 | Status: Senior Member | 6,517 Posts
{quote} I think you are right and actually I agree with you. Run for profit means that accumulation will start. When MMs run for profit then usually herds jumping to trade, MMs taking the herd's trades for getting ready to accumulate and price starts to range. My view of run for profit and position building
Yes, IMO you just defined trend trading
of course entering scouts/counter trend trades would be to take the opposite position of the herds. Then after accumulation and position building it starts all over again. Hopefully with PVSRA the MM's/tricksters mindset will be revealed and the trader will be on the right side of the next move. Of course, their are trends within trends hence viewing different t/f's will help in determining if MM's are bears or bulls and the deceitful MM's don't make this task easy by always revealing their hand. When you talk about trading with the herds/trend trading (the trend is your friend, etc), I realize that opens the door for much discussion with most position trade Sonicers. We shall leave that for discussion at another time. I can only say that as a scalper, by trading with the trend, understanding PVSRA, trading Classic setups and implementing TAH's outstanding templates and indicators, my trading style has become pretty much draw down and stress free.
Keep It Simple
Hello, guys. Lately I've been busy with exams; that's why I haven't posted any thread for a while. I hope you have been successful in your trading.
All the "interactions" MMs have with each other leads to the bars on our charts. On one minute charts, we can usually get a good idea of what MMs on a whole are doing, but sometimes our data "conflicts" because we see a bearish MM 1 minute bar in an otherwise bullish looking 15 minute period. That's why we must pay attention to the net MM position. We can do this by using higher timeframes (which show us the result of larger periods of MM interaction) and by using lower timeframes and PA generally looks bullish or bearish.
It's great that you notice these fine details in the market. It means you're thinking about why price moves the way it does!
I'm a dog chasing cars.
- #68,333
- Apr 5, 2014 4:45pm Apr 5, 2014 4:45pm
- | Commercial User | Joined Aug 2013 | 2,935 Posts
Scan all 28 Forex pairs with ONE chart... Currency Strength28 Indicators
- #68,334
- Apr 5, 2014 10:50pm Apr 5, 2014 10:50pm
EA, GA - spring forming? Looks nice accumulation with usual sucking..
Sometimes it gets a little discouraging to enter before the spring and see ourselves adding to losses on the short term ...
Or a scout first before the spring and sonic entry after the PA has run for profits is ideal?
- #68,335
- Apr 6, 2014 5:20am Apr 6, 2014 5:20am
- Joined Mar 2013 | Status: In the learning phase.. | 1,377 Posts
{quote} Hi Loeil, in your opinion, would it be better to enter the market (A) before or (B) after the spring has occurred. Sometimes it gets a little discouraging to enter before the spring and see ourselves adding to losses on the short term ... Or a scout first before the spring and sonic entry after the PA has run for profits is ideal?
it's a good question but I think that there is more answers than 1 and it depends much on your trading strategy. What becomes good for one trader doesn't have to become good for others.
A, before the spring - this choice is better for them who can't watch the market every hour but who certainly wants to be in when MMs starts their action. But this choice assumes small lots so you don't have to worry about DD. I often use this choice. Of course you have to know who is in the background also, bulls or bears.
B, after the spring - this choice is better for them who can watch the market whole day and can wait more and stronger signs and enter then.
My personal opinion is that classic is not good for A and neither for B. I have seen a lot of failed classics. Classic becomes true only if background supports it. Classic means you have LH or HL, these appears after the spring, LH and HL means successful test.
Classics have less risk, good classics appears later when action is already going on(dragon angles up and price is above it).
So as I said, I can't tell which option is the "right" option. If you have time and you prefer small trades but more trades then you can wait until spring is ready. If you have time and you prefer bigger lots, then I suggest to wait classic.
The third choice what you thought - first scouts and then classic. Of course you can do it, small scouts and bigger classic. Can't say it's ideal because what is ideal in the market anyway? It all depends on your strategy.
Whatever is obvious is obviously wrong!"
- #68,338
- Apr 6, 2014 7:18am Apr 6, 2014 7:18am
- Joined Mar 2013 | Status: In the learning phase.. | 1,377 Posts
Whatever is obvious is obviously wrong!"
- #68,340
- Apr 6, 2014 8:42am Apr 6, 2014 8:42am
- | Commercial User | Joined Mar 2008 | 9,072 Posts
I see nice PB in most JPY pair weekly..GBP/JPY for instance.. Nice to be bias short on these pairs..
Sonic
Sonic