Hi Simon, Many thanks for reply. I am not quite clear on the "decision point" terminology. Is it an area of accumulation if so then I understand.You got me thinking re the higher time frames hence my 15 min plus 5 min which seems to work better for me.I meant to put 15 min not 1 Hr on my pair i sent .I am sure though you got the drift Have a great weekend Pete
Price Will Tell - Supply/Demand Price Action Trading
- #582
- Apr 17, 2015 3:47pm Apr 17, 2015 3:47pm
- Joined May 2012 | Status: ... | 1,925 Posts
I am not quite clear on the "decision point" terminology
I've noticed that different traders apply the term "Decision Point" in different ways, which I think can probably add to the confusion. My use of the term is quite specific (although I'm sure not unique) and essentially focuses on either the origin of a break of a very clearly defined swing point, or the origin of a break of a clearly defined support or resistance area. I do understand that it could be said that the origin of any supply or demand "zone" could be termed a "Decision Point" but for me I see the price structures of supply/demand zones and decision points as being different and therefore it fits with my way of trading to have different terms for labeling them. Have a good weekend too.
- #583
- Apr 20, 2015 2:31am Apr 20, 2015 2:31am
- Joined May 2012 | Status: ... | 1,925 Posts
GJ tech
Price has bounced to the pip off of the W1 open from two weeks ago.
M30 still suggests down but I'll be happy to buy intraday as well depending on how the M15 sets up. No clear bias on that as of yet. Watching and waiting.
Price has bounced to the pip off of the W1 open from two weeks ago.
M30 still suggests down but I'll be happy to buy intraday as well depending on how the M15 sets up. No clear bias on that as of yet. Watching and waiting.
Hi Simon,
Tied up with trying to locate new place of residence so not trading but keep looking and getting frustrated for what I am having to pass on temporarily LOL Be back live fairly soon. Like your chart ,attached is how I saw it earlier on 5 min the Verticle magenta line is the point I placed as potential entry this morning just took this shot of what would have been my outcome Very frustrating Have great day Pete 
Tied up with trying to locate new place of residence so not trading but keep looking and getting frustrated for what I am having to pass on temporarily LOL Be back live fairly soon. Like your chart ,attached is how I saw it earlier on 5 min the Verticle magenta line is the point I placed as potential entry this morning just took this shot of what would have been my outcome Very frustrating Have great day Pete
- #587
- Apr 23, 2015 3:05am Apr 23, 2015 3:05am
- Joined May 2012 | Status: ... | 1,925 Posts
Hi Pete,
The M30 close with its long tail is a current factor on intraday, plus news in 30 minutes.
Watching and waiting on all TFs and will be happy to take it either way depending on the signal.
The M30 close with its long tail is a current factor on intraday, plus news in 30 minutes.
Watching and waiting on all TFs and will be happy to take it either way depending on the signal.
- #588
- Apr 23, 2015 8:36am Apr 23, 2015 8:36am
- Joined May 2012 | Status: ... | 1,925 Posts
GJ tech.
Today, this thing's been behaving like the devil possessed it. Stayed out - no point getting involved in BS news etc. Better to wait for the optimum moment.
Today, this thing's been behaving like the devil possessed it. Stayed out - no point getting involved in BS news etc. Better to wait for the optimum moment.
- #589
- Apr 24, 2015 2:04am Apr 24, 2015 2:04am
- Joined May 2012 | Status: ... | 1,925 Posts
EURAUD tech
- #590
- Apr 24, 2015 2:16am Apr 24, 2015 2:16am
- Joined May 2012 | Status: ... | 1,925 Posts
GJ tech.
This pair's currently attacking the M15 supply set up yesterday and technically it's broken out north of the pole + flag configuration. It's not yet taken out the H4 tops and even if does do that this morning I'm still going to need to see some retrace before buying.
This pair's currently attacking the M15 supply set up yesterday and technically it's broken out north of the pole + flag configuration. It's not yet taken out the H4 tops and even if does do that this morning I'm still going to need to see some retrace before buying.
- #592
- Apr 24, 2015 2:37am Apr 24, 2015 2:37am
- Joined May 2012 | Status: ... | 1,925 Posts
Hi Simon, Europe seems very unstable with the Greek stuff, UK Election etc. I am thinking about Aus as a possible area to be looking and Cad but not sure Any ideas, views, appreciated. Staying out for a while today, things just seem too volatile. Have a great day.Pete
Where are you thinking Oz?
That pair set up yesterday for buys at the base of the H1 pole (lower blue box) and it looks like the short terms profit-taking has taken place this morning. It's currently testing a weak looking supply but personally I'm mindful of that bullish breakout at 0.77938 (yellow line) that may act as a support later on.
- #593
- Apr 24, 2015 9:27am Apr 24, 2015 9:27am
- Joined Dec 2013 | Status: Trader | 1,942 Posts
Learn, a forex trader must, unlearn and relearn he will.
- #595
- Apr 24, 2015 10:53am Apr 24, 2015 10:53am
- Joined Dec 2013 | Status: Trader | 1,942 Posts
Learn, a forex trader must, unlearn and relearn he will.
- #596
- Apr 24, 2015 10:55am Apr 24, 2015 10:55am
- Joined May 2012 | Status: ... | 1,925 Posts
Hey Simond, What do you use to help confirm price breakouts or stays in the consolidation phase ?
I'm not entirely sure I understand the above question?
what specifically is it when you know how price will break key areas.
Depending on a whole number of things, including the approach (check out EURAUD M15 - post 589 and how price reacted today), and the PA once the market tests, I'll either look to trade or not.
Today's Oz is actually a really good example of how price can do a whole range of things around areas we identify before it sets up and gives a trading opportunity. If you check out post 592 there was a line marked at 0.77938. For me, initially this bullish Breakout Reference Line (BRL) was placed as a preventative measure against shorting at a historic supply zone, which in my view would have been a so-called "contra-trend" trade (the SD trader's nemesis
) It's interesting to see how the market sold off to the very shoddy looking origin of that bullish breakout and then rose through 0.77938 and back down to it on a 50% fib retrace to give a buy signal on M5 (not shown).All I can say is that whenever I've expected the market to give me what I've considered an "ideal parameter" signal, it's ended up doing something completely different. I guess what I'm trying to illustrate with this example is that I no longer have what I'd term "ideal parameters"; to the best of my ability, I just try and look for what makes sense to me in a very simplistic "buyers and sellers" way, and try and exploit this for a profit.
- #598
- Apr 25, 2015 11:13am Apr 25, 2015 11:13am
- Joined May 2012 | Status: ... | 1,925 Posts
FX-Ray was one of the few active traders at FF that I really paid attention to. I enjoyed his no-nonsense approach and the fact that he posted live setups (even if I no longer agree that posting live entries is necessary or even useful to others). I would have actually preferred to post in his thread and try and learn from him rather than start my own thread but for me, "interactive" trading threads are just noise.
Another loss to FF. So long FX-Ray, I'm sad to see you go. I couldn't agree more with the sentiment you expressed in the "about" section of your profile. Wise words.
Another loss to FF. So long FX-Ray, I'm sad to see you go. I couldn't agree more with the sentiment you expressed in the "about" section of your profile. Wise words.
- #600
- Apr 28, 2015 3:07am Apr 28, 2015 3:07am
- Joined May 2012 | Status: ... | 1,925 Posts
{quote} After reading this I spent some time reading some of FX-Ray's posts. I agree. He will be missed.
