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ReadtheMarket - Supply and Demand with Price Action

  • #1,101
  • Jul 3, 2014 11:00am Jul 3, 2014 11:00am
Quoting bulleyes
Hi, after reading all the posts I still have these questions regarding FTR and FL. It's my understanding that a FL is a FTR but a FTR is not necessarily a FL. In the chart below, it seems I can mark out 4 FTR/FLs. Is this correct or I'm seriously wrong about something here? The second question is, can we buy at each FTR/FL that's marked in the chart or we should rule out some of them? {image}
Bulleeyes,

you have marked red color box FL wrongly. can u see ?. check my one

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  • #1,102
  • Jul 3, 2014 11:28am Jul 3, 2014 11:28am
Boxes im watching now,

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  • #1,103
  • Jul 3, 2014 11:41am Jul 3, 2014 11:41am
Quoting Chanya
Today I suffered a loss on NZD/JPY... Can anyone plz point out what went wrong... Charts Below... {image} {image} {image}
Chanya and all,

Listen carefully. As many of you think QM doesnt work if you simply take high or low breaks. Often it fails if you didnt look into it what price did just before that. So you need to take FL that is engulfed. And then trade the return. So you need to ask yourself ,

1.Is it a important level price breaks?
2.Where it is coming from?.
3. Did the origin itself engulfed anything before breaks this important zone?.
4.Can i expect a diamond?

Attached Image (click to enlarge)
Click to Enlarge Name: nzdusd.lmxm5.png Size: 46 KB


IF please correct me if im wrong. False knowledge is poisonous
  • #1,104
  • Jul 3, 2014 12:36pm Jul 3, 2014 12:36pm
You're spot on Yogi!
  • #1,105
  • Jul 3, 2014 1:15pm Jul 3, 2014 1:15pm
Quoting Fxyogi
{quote} Bulleeyes, you have marked red color box FL wrongly. can u see ?. check my one {image}
Thank you so much yogi. This helps a lot. I see the FTR that evolves right after breaking out previous highs/lows is the important one and we should consider it as a FL. I still think a FL is a FTR but a FTR is not necessarily a FL. Even though we may say FL is more just a wiggle of the price but in lower time frame they would show a complete up and down structure. Please let me know if I'm wrong about this.
  • #1,106
  • Jul 3, 2014 2:03pm Jul 3, 2014 2:03pm
Quoting Fxyogi
{quote} Chanya and all, Listen carefully. As many of you think QM doesnt work if you simply take high or low breaks. Often it fails if you didnt look into it what price did just before that. So you need to take FL that is engulfed. And then trade the return. So you need to ask yourself , 1.Is it a important level price breaks? 2.Where it is coming from?. 3. Did the origin itself engulfed anything before breaks this important zone?. 4.Can i expect a diamond? {image} IF please correct me if im wrong. False knowledge is poisonous
This is not the setup I was talking about Yogi, this one is obvious. U have to scroll a little further to see where my query was. Regards
Human
  • #1,107
  • Edited 8:41pm Jul 3, 2014 2:30pm | Edited 8:41pm
Quoting Chanya
{quote} This is not the setup I was talking about Yogi, this one is obvious. U have to scroll a little further to see where my query was. Regards
Its right there where i marked engulfed north. How come you did not see this??!!!
  • #1,108
  • Jul 3, 2014 9:42pm Jul 3, 2014 9:42pm
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  • #1,109
  • Jul 3, 2014 9:49pm Jul 3, 2014 9:49pm
If anyone have symbol indi for MT4 646 build , kindly post it
  • #1,110
  • Jul 4, 2014 12:06am Jul 4, 2014 12:06am
When i was smoking today in a lonely environment, I got this idea to become a trading guru and set up a profitable business. Please follow these steps if anyone interested.

1. Go RTM with a funky user name. And ask all your questions and get every help you need. Post your silly trades and get comments from IF and squeeze out his knowledge and take advantage of free material.

2. Once you finished , you are set. Now open a demo account and start trading. Now you will have several losers. Dont worry. Take your winning trades and post it in FF here with different username. Try not to explain anything. Because once you explain, real traders get to know that you have no sensibility in your trading.This is a must

3. Now traders who is seeking for holygrail or depressed with trading performance will start to hassle you for the reason you take the trade. Fear not!! . Follow the step 4

4. Tell them it is a secret and use mysterious language to explain why you took. Remember !, your post should not be clear to anyone. This is very important. If you find there is a clarity , edit again till it becomes unclear.

5. After step 4, you will find you have more followers than before. OK you are set to master trader now. But how to become a guru.Follow step 6.

6. In many of your trades , there will be few trades, with pin point accuracy. Post it without any explanation and scold the traders who is asking for explanation. Tell them they are chicken and you can't spoon feed them(For reference, follow cloggie or some other useless 10+ vouchers in FF). Advice everyone but understanding the fact that you are not even following your advise (For reference take FXyogi ). Congratulations now you are a TRADING GURU and you have an aura behind your head.

7. This is an investment. So dont under estimate this. Now you are set to start your own webpage or trading academy and provide paid services. Oh sorry i forgot to say that, in the beginning, you should not charge or charge less. This is until you have sufficient memebers.

8.After you have enough members, take the back seat and relax.Now your students will take care you from forum attacks and others. They will chase everyone out who is opposing you or asking your trade performance.

Good luck with your business. If you are successful please send me few bucks for my cigarette packets.
  • #1,111
  • Edited 1:17am Jul 4, 2014 12:47am | Edited 1:17am
Attachment
  • #1,112
  • Jul 4, 2014 1:05am Jul 4, 2014 1:05am
Quoting Fxyogi
{image}
Box should be little higher

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  • #1,113
  • Jul 4, 2014 1:39am Jul 4, 2014 1:39am
IF are you noticing the difference between Lmax chart and trading view chart?
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  • #1,114
  • Jul 4, 2014 7:37am Jul 4, 2014 7:37am
It seems NZD is going to create a diamond then drop. To short the SL should be above the FL upper boundary.

Attached Image (click to enlarge)
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  • #1,115
  • Jul 4, 2014 7:51am Jul 4, 2014 7:51am
There is also a buy opportunity for EUR.

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  • #1,116
  • Jul 4, 2014 9:04am Jul 4, 2014 9:04am
Quoting bulleyes
It seems NZD is going to create a diamond then drop. To short the SL should be above the FL upper boundary. {image}
Looks like what i was talking about actually came into reality. That FTR was breached on second return with hard push to it. I wish i had more of these moments when i trade
MQL5 Market products 10 times cheaper? Yes, we can help. Send us a PM
  • #1,117
  • Jul 4, 2014 9:42am Jul 4, 2014 9:42am
Quoting bulleyes
It seems NZD is going to create a diamond then drop. To short the SL should be above the FL upper boundary. {image}
Bulleyes,

Some thoughts for you. Its on charts. No need further explanation..


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  • #1,118
  • Jul 4, 2014 10:08am Jul 4, 2014 10:08am
Quoting Fxyogi
IF are you noticing the difference between Lmax chart and trading view chart? {image}
Attached Image (click to enlarge)
Click to Enlarge Name: audnzdm15-4.png Size: 22 KB


Trading view wins
  • #1,119
  • Jul 4, 2014 10:22am Jul 4, 2014 10:22am
Quoting bulleyes
{quote} Thank you so much yogi. This helps a lot. I see the FTR that evolves right after breaking out previous highs/lows is the important one and we should consider it as a FL. I still think a FL is a FTR but a FTR is not necessarily a FL. Even though we may say FL is more just a wiggle of the price but in lower time frame they would show a complete up and down structure. Please let me know if I'm wrong about this.
Bulleyes, I cant say much about this. I send you a PM.

Edit-

Check your PM . i sent already
  • #1,120
  • Jul 4, 2014 2:55pm Jul 4, 2014 2:55pm
Quoting Fxyogi
1461616
I reckon that's going to happen over and over again!
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