ReadtheMarket - Supply and Demand with Price Action

Quoting Fxyogi

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{quote} Bro , Didnt understand exactly your method. But look like kind of break out trading. Not sure though. May be you can explain so that i can learn from . Learning will never end.

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Quoting Fxyogi

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Prefer to go long 2 lines. 2 is better than 1. Lets see. {image}

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Quoting charvo

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if i use your chart as an example of my thought i'd relentlessly short, although this is a late entry. reason on chart is the price is trying to get out the flag. reason on logic is apparently, there's more orders/liquidity below (the FTR you marked) than above (above is CPed, therefore, less order/liquidity......). so i bet it goes further down, yeah, i know it tends to lead to more drawdown in this trade example...... that's a problem {quote}

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Quoting Fxyogi

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{quote} I understand what you mean. But first important point is not to take a trade in the middle of nowhere. Otherwise blowout is near. Wait till it gets to the extreme and take the trade. Even if i put the line, FL has to be marked as shown below chart see green box. Now within a FL there are sub FL which may turn the price. therefore you shouldn't short near there. {image}

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Quoting Ifmyante

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Funny you should say that, as I teach to always and only trade within a flag. Sometimes the flag will already have developed, and sometimes the flag is to be made while you're in the trade. Either way, always trade within a flag

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Quoting charvo

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this is a little shocking to me, sorry for my misunderstanding. i remember on RTM, Les_Paul said this and i thought it is iron and steel. here, post 138#: http://www.readthemarket.com/index.php/forum/journals/1577-les-paul-s-journal?start=125#19086 quote: " NEVER TRADE IN THE MIDDLE OF FLAG! " Many thanks to IF master! I know there's a huge gap between your level and my dire strait, however, i do wish to ask if "trade within a flag" is actually trade within a flag, but precisely @ the extreme of the flag----flag limit? {quote}...

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Quoting Ifmyante

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Funny you should say that, as I teach to always and only trade within a flag. Sometimes the flag will already have developed, and sometimes the flag is to be made while you're in the trade. Either way, always trade within a flag

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Quoting kaunasny

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{quote} quote: " NEVER TRADE IN THE MIDDLE OF FLAG! " I think you understanding this incorrectly. What Les_Paul probably meant was that trade the edges of a flag and never the middle of it. As price by hitting one edge should move to next. One great trader once wrote very simple thing in his post that I try to apply to every trade I make: "Only buy at support and only sell at resistance" But IF have caught me with surprise too only trade within a flag, I have understood this wrong too. I thought one needs to wait for price to get out of the flag....

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Quoting Fxyogi

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{image}

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Quoting Fxyogi

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{quote} Boxes protected.Looked like scalping but every long was entered as a swing. But boxes didnt support. {image}

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Quoting SimonK

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{image} {image}

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Quoting charvo

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Yogi Bro, one question please. please see the chart below. thanks. {quote} {image}

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Quoting Ifmyante

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Funny you should say that, as I teach to always and only trade within a flag. Sometimes the flag will already have developed, and sometimes the flag is to be made while you're in the trade. Either way, always trade within a flag

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Quoting Fxyogi

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{quote} IF mate, These two trades failed miserably today. Cant figure out my end what is the reason Especially UJ. can you enlighten us on this. {image} {image}

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