Extracted Thread (per thread starter's request)

http://www.forexfactory.com/attachme...8&d=1405612810

sir..what is the blue bar volume indicator that u use?

Hi EinsWaltz, The volume Indicator on my chart is the Market Profile Indicator developed by Rob Mitchell. He named it the "Logik Wand" (that's how he spells it). Google his name and you will find more info on this tool, Rocky!

[quote=rocky;7636212]{quote} Hi EinsWaltz, The volume Indicator on my chart is the Market Profile Indicator developed by Rob Mitchell. He named it the "Logik Wand" (that's how he spells it). Google his name and you will find more info on this tool, Rocky![/quote

Hi Rocky,

Have you ever used volume footprint charts on your setups?

http://www.forexfactory.com/attachme...1&d=1406826695

http://www.forexfactory.com/attachme...1&d=1406828405

Thank you Rocky. I think Ninja's order flow charts shows the same information what a Volume footprint charts draw.

I will try to learn how to read an order flow chart.

I feel very happy and lucky to get the opportunity learning from a real gentle trader like you.

If you have some free time left, please share some of your setups and decision process whenever you wish.

http://www.forexfactory.com/attachme...1&d=1406855669

http://www.forexfactory.com/attachme...1&d=1406855771

Hi Rocky and all the other great contributors to this great thread, I have finally finished reading it from post1.
I have posted my analysis of gold on the 4 hour chart, i would love to hear some feed back good or bad to help me learn this system.
Many thanks.

Then it seems to have missed my area of interest (elipse)

The exhaustion print you marked is

27x5 (27 contracts are traded at BID price)
9x20 (20 contracts are traded at ASK price)
15x0 (15 contracts are traded at BID price)

If the number of contracts that are traded at BID price are more than the number of contracts that are traded at ASK price; then we can conlude that buyers are absorbing supply. When we see that the number of contracts that are traded at ASK price is 0, that means there is no more supply left.

Rocky, Is this a right interpratation of order flow ?

http://www.forexfactory.com/attachme...1&d=1406988409

Thanks Rocky
I guess my demand zone wasn't correct other wise PA wouldn't have missed it.

http://www.forexfactory.com/attachme...1&d=1407208700

http://www.forexfactory.com/attachme...1&d=1407208819

Hi Next,

Last screen shot... C? As price retrace well past 50% FIB into the Approx 1313 level... No clear Supply Level to take trade short... The trend line would be available after price made its pivot short. This, of course, assumes you're taking this trade into the 127 Extension or Lower Demand...

Or

Were we waiting for price to enter the 127/Demand?

On the aggressive side, one could get short around the 1300 level as we had a strong engulfing candle preceding this price level. You, of course, have drawn the downward trend line for the ABC/ pattern with candle conformation to get short. Aggressive opportunities to be sure.

The reason I present this review is the potential trade short into the Demand Level. One of the things you will find is: These levels, Supply or Demand, tend to act like magnets, drawing price to them. (I call them Magnet trades... my way of classifying this type of trade) I look for areas to get short or long into these levels using similar patterns and structure analysis... Basically using smaller Supply / Demand Levels as price will turn at these levels inside range, on the extremes... or against significant Support / Resistance levels... Much like Rocky when he uses Andrews Pitch fork ... a Support / Resistance levels of a different kind adding to a Supply / Demand level... ala post #2115 above.. I may have to step up or down in TF to find these levels inside the range... Again, look at Rocky's post #2115... Getting long on Demand with the Pitch Fork (Support) with the ultimate target (the MAGNET if you will) being overhead at Supply. See how price is pulled toward Supply. Looking left into the Range, you will notice Resistance levels that price must break through to reach Supply. Depending where you get in.. these can be intermediate profit targets ( multiple positions ) or stall points knowing that Price is facing challenges moving forward. I find this good for the Psyche.. keeps me settled = patience.. as I have a plan on what I will do based on the price reaction to these levels.

Actually, Rocky was the first that I saw do this..its where I began to observe the same thing.. just differently I guess. Thanks ROCKY !!!

Just observations. My 2 pips worth... Stay here and you will learn a great deal from Rocky and company.

Many pips to ya

TSD

[quote=TraderinSD;7656555]{quote} Hi Next, Last screen shot... C?

Hi TraderinSD
Thanks for the detailed notes, any help is much appreciated, I hope to learn the system and turn my trading around. Would you have any idea if its possible to trade futures using MT4 ? Every trade i make on Forex pairs seems to get spiked out and then turn in my direction, I have downloaded ninja on demo but i seem to be struggling with setting it up.

Happy trading to you.
Next4467

[quote=Next4467;7659035]
Hi Next,

If you want to understand what Rocky is doing, following exactly, you will need to move to a platform that support futures. There is a bit of a difference between Forex and Futures...Someone Forex / Futures broker will offer to option to trade Forex, Futures, Equities all under one roof. I believe Ninja will do that as long as the broker will support... or .... get your data provider such as eSignal. You pay the data directly. Costly? You may want to open small account in order to use the broker demo. Each platform will have it learning curve to be sure. Pick one and stay with it.

Futures.. in my opinion, is the best option. But then I am partial as I have traded futures since 1999.. Indexes ( Mini's- SP, NQ, Oil, Gold etc.)

So pick a platform or broker.. Stay with method..and above all " Be Patient " Your own mind set is your biggest challenge. It will kill you account faster than any method out there...I call it the REWIRE.

Lastly, start a Trade Log....there is a lot out in this area.. but most seem to miss the most important piece to the puzzle, the " What and Why " of what you were thinking when you took the trade, while you were in the trade, when you exited he trade. Why is this important? Trading is about 70% mental and 30% method.. How you tick when trading will determine whether you will ultimately be a profitable or not. I learned the hard way.. and it cost me everything.. do not make the same mistake. Having a solid Trade Log will add to your edge and make a difference. It will show you over time how often you change the rules ( in the middle of the trade) .. How often you contradict your trading plan and WHY... Your fears.. Your greed.. everything will come if you you write it all down.. You will be amazed..but you must stick with it...permanently.

Sadly, most will read this and dismiss.

TSD

Rocky,

Let's say we have selling climax where retail traders are selling and SM is taking the other side by buying the contracts. In this case after seeing stopping volume and some No Supply bars, we expect that the price will climb upwards.

Do Exhausion Prints show a similar action what i described above?