{quote} EA - closed for 5226 pips gain{image}
- #74,883
- Edited Aug 8, 2014 2:50am Aug 7, 2014 5:09pm | Edited Aug 8, 2014 2:50am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
Market Comment: Robber Banks at Work! Look at your EU, GU and NU charts for today. After the whacking they were given in conjunction with "news" the price started rebounding during the time remaining until the LS closed. After the LS closed, the prices have been falling again. This is an indication the MMs are bulls. {image}
Thank you TAH for sharing this info. I'm still in my learning phase so if u don't mind I'd like to ask you a couple of things. The info u posted about EU and GU comes from just reading the charts(price action) or u get also some information reading the PVSRA ? On the below attached 15 EU chart would you have entered a Scout short after the 1st bar(market on the chart) or after the 2nd? I'm asking this because I hesitated. 2nd volume bar was indeed smaller(volume decreasing, pullback comming) but the dragon was flat and below we had some support levels {image}
2. The first time that PA swept below the half number the H1 chart was still quite bearish, and the angle down of the Dragon was steep. The second time price swept down below the half number the angle down of the H1 Dragon was a bit less than before, and the price did not go so low. Seeing this would mean the preferred entry for a Scout would then be in the half number area while price was still down there that second time. Viewing M15 alone, without the benefit of the slightly larger picture on H1 to go with it, yields only some of the available pieces of the puzzle. Having said this, an entry the first time the price headed down towards the half number, seeing as how we were anticipating such a move - a Stop Hunt of longs - was likely what many Sonicers responded to by making a Scout entry during that run down. That is fine, just so long as we sow our seeds frugally.
We can never know what the Robber Bank MMs will do with the price next, but most often a first strike to highs or to lows is followed by another. It never hurts to be patient. The very few good things we miss by being patient are fall less hurtful than the all the bad things we avoid.
Patience, Frugality, Flexibility
-tah
- #74,884
- Edited 6:29pm Aug 7, 2014 5:50pm | Edited 6:29pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #74,886
- Aug 8, 2014 2:29am Aug 8, 2014 2:29am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
I opened scout AUD/USD -long {image}
leentjai,
More patience than me,......better placement than me.
- #74,887
- Aug 8, 2014 2:29am Aug 8, 2014 2:29am
- Joined Jul 2011 | Status: Trader | 1,521 Posts
{quote}{quote} 1. For me, "reading charts" should always be more than just looking at price action. It should always be looking at all aspects of price and volume and the inter-relationships with S&R, as well as the angle of the Dragon and where PA is in relation to the Dragon and inter-day bull/bear swings. If a Sonicer is going to spend time to view a chart, why view it in such a way as to receive only part of what it has to tell us? 2. The first time that PA swept below the half number the H1 chart was still quite bearish, and the angle down...
- #74,888
- Aug 8, 2014 2:32am Aug 8, 2014 2:32am
- Joined Jul 2011 | Status: Trader | 1,521 Posts
{quote} AUDUSD: leentjai, More patience than me,......better placement than me.
- #74,890
- Edited 4:17am Aug 8, 2014 3:47am | Edited 4:17am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
loeil,I have a question:why didn't close at the red circles? Or, anyone others can answer me ? {image}
AUDUSD:
I cannot answer for loeil, but I can guess that he figured the price would go higher than the 150-200 pips highs he first started to see, so he waited. In time, he probably lost enthusiasm for it going as high as his original expectations and he waited for another trip to the previous highs. Instead, price plummeted. He compensated by loading up on longs at the new lows, figuring the price to at least retrace about 50% to where he could be in profit. When it did retrace up, he probably again thought it would go a bit higher, and so did not exit at that time. Instead, the price plummeted again. And again he compensated by adding more longs at the lows, probably thinking he needed to in case the next retrace was not so high, so he could still profit.
In any case, this trade is an example of how being frugal with sowing our seeds can very nicely save our asses when we miscalculate, by being able to take advantage of price when the Robber Banks manipulate price to take advantage of us.
I cannot express this too strongly. The corrupt Robber Bank MMs are better at cloaking their intents and at deceiving us than we are at uncloaking their intents and not being deceived. Therefore, the best tool we have in doing battle with them is to become better at PVSRA (as loeil would say, seeing what strength/weakness shows in the background) and also to be frugal with sowing our seeds. In this manner, we can err in assessments and still come out profitable, as this trade by loeil demonstrates. Examine other trading systems. With them, if you are wrong you lose! Our method of building trades is very "forgiving". It allows us to err in judgement, even multiple times (!) and still end up profitable. That's saying something!
There is an expression we have all heard about traders riding the coattails of the big boys. Get on-board their coattails once the trend is shown, ride their coattails for a while, and get off before the trend is over. What the expression does not allude to is the fact that the big boys are always shaking their coattails up and down to get rid of us and to keep our positions for themselves! Our method allows us to stick like glue, and even add when they shake their coattails in the right direction to create a great opportunity for us to add.
- #74,893
- Edited 4:48am Aug 8, 2014 4:31am | Edited 4:48am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
USDCAD:
With two CAD high impact releases coming in an hour, we may soon see the end to the Robbing and the start of a Run for Profits. Keep in mind, though, that the Robbing might not end without first another Whip 'n Whack position stealing finale..... 
And too, there is this H&S possibility. It might get a kick-off today. 
With two CAD high impact releases coming in an hour, we may soon see the end to the Robbing and the start of a Run for Profits. Keep in mind, though, that the Robbing might not end without first another Whip 'n Whack position stealing finale.....
And too, there is this H&S possibility. It might get a kick-off today.
- #74,895
- Edited 6:00am Aug 8, 2014 5:40am | Edited 6:00am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
USDCAD: With two CAD high impact releases coming in an hour, we may soon see the end to the Robbing and the start of a Run for Profits. Keep in mind, though, that the Robbing might not end without first another Whip 'n Whack position stealing finale.....{image} And too, there is this H&S possibility. It might get a kick-off today.{image}
USDCAD: Robber Banks Robbing Others of Their Short Positions....
Well, there it is, a demonstration of Robber Bank-O-Matics!
.......brought to you courtesy of some of the biggest thieves in the world, the big US Robber Bank MMs. Fifty pips up in one minute flat! A beautiful Stop Hunt on Shorts! And now they support the price up there while milking for liquidity for more shorting provided by those being deceived into entering the market long. 
- #74,896
- Aug 8, 2014 6:09am Aug 8, 2014 6:09am
- Joined Nov 2013 | Status: Trading Chaos | 1,133 Posts
{quote} USDCAD: Robber Banks Robbing Others of Their Short Positions.... Well, there it is, a demonstration of Robber Bank-O-Matics!
Sad, but true. Gotta hand it to them though, what a move
- #74,897
- Aug 8, 2014 6:38am Aug 8, 2014 6:38am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #74,898
- Aug 8, 2014 7:26am Aug 8, 2014 7:26am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
