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Trading S+D With Facts Ebook

  • #121
  • Oct 29, 2015 8:27pm Oct 29, 2015 8:27pm
the market goes down they move their stops closer , it goes up they move it further away highly irrational people
  • #122
  • Oct 29, 2015 8:33pm Oct 29, 2015 8:33pm
Quoting willo123
I reckon some of the stops were taken out Dane seems as though alot were moved slightly above the 1.1000 level i think. just goes to show how the psychology of people changes according to what the price action means to them
Absolutely, do you think that given the time of day "price' seems contained for now by support/demand at 1.09715 and the stops above?

Dane...
  • #123
  • Oct 29, 2015 8:54pm Oct 29, 2015 8:54pm
Yes i do mate, reckon they will run the stops at London open, the resulting movement will cause the market to fall with large range candles, a chain reaction will then begin the large range candles will cause anybody who's long to start closing at a loss pushing the market lower maybe a small pause at 1.0900 due to them taking profits on the stops found there.

if they don't do it at London open then the USD news tomorrow could be the catalyst.


gtg bedtime for me nice chatting to you Dane Happy trading
  • #124
  • Oct 29, 2015 9:23pm Oct 29, 2015 9:23pm
Quoting willo123
Yes i do mate, reckon they will run the stops at London open, the resulting movement will cause the market to fall with large range candles, a chain reaction will then begin the large range candles will cause anybody who's long to start closing at a loss pushing the market lower maybe a small pause at 1.0900 due to them taking profits on the stops found there. if they don't do it at London open then the USD news tomorrow could be the catalyst. gtg bedtime for me nice chatting to you Dane Happy trading

Cheers Willo

Dane...
  • #125
  • Oct 29, 2015 11:18pm Oct 29, 2015 11:18pm
Finally got a pin down on the lower level. Order triggered.

Attached Image
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  • #126
  • Oct 29, 2015 11:19pm Oct 29, 2015 11:19pm
nice start..keep it up..i like too trade this way..you can check my threads which .... almost ..similarity...
http://www.forexfactory.com/showthre...=556504&page=8
Say something meaningful or Silence!!
  • #127
  • Oct 29, 2015 11:42pm Oct 29, 2015 11:42pm
Quoting JoeNY
I'm watching these levels {image}
Whoa.... 80 pips in 20 minutes. Taking most off the table. Leave a bit and see where she goes.

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  • #128
  • Oct 29, 2015 11:47pm Oct 29, 2015 11:47pm
On second thought, all out. BOJ press conference on the way.

Quoting JoeNY
{quote} Whoa.... 80 pips in 20 minutes. Taking most off the table. Leave a bit and see where she goes. {image}
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  • #129
  • Oct 30, 2015 4:24am Oct 30, 2015 4:24am
Hi Willo,
I have found this thread very interesting indeed and very thought provoking. My question is regarding the Oanda Order Book which I have used in the past when I knew even less than I do now!
I wonder how this compares to Market Profile firstly and secondly if one follows the Order book is this not following the herd and as 90% seem to be losers in this game is there the risk of joining the 90%.
Personally I feel it all has great value and I trend trade buying pullbacks in an uptrend and selling bounces in a down trend which has its merits but not perfect.I was waiting days to see price return to S/D levels as per Sam Seiden and the Core methodology that OTA preach. This is OK if one has plenty of risk capital not so good with a small account in my view.Also plenty of good trades are usually available on the way back to the S/D levels and they seem to ignore those. Buying at extremes fits with market profile a high%age so why buy sell where everyone else is? Thanks a lot for the thread and will be following it
Happy trading
  • #130
  • Oct 30, 2015 8:13am Oct 30, 2015 8:13am
hello reldas thanks for you comment good to see you join the discussion.

This was the same problem that i was having with the seiden method, by the time the market returns to the levels the trend has already changed post 13 shows a great example of this ,that's why i gave out the rules that i use to trade supply and demand which are virtually th opposite of what sedien teaches for example time away from level is inverse to what seiden says the long the amount of time the markets been away from a level the stronger that level becomes and unfortunately that's just not true, the less time the market takes to return to a level the better chance that level has of working out

In regards to the order book what were doing isn't necessarily trading s+d with the order-book but instead plotting the psychology of the people who we know are in trades according to oanda, if i know that lots of people went long and the markets now below their entry i can anticipate to some extent what they are likely to do if the market returns to their point of entry,because they have been at a loss for significant amount of time

Im not that knowledgeable in market profile its funny cos it was only last week when i was reading the book the guy who created market profile wrote just before he made market profile, i think using oandas order book we defiantly cant read the market with the same amount of information as market profile gives us but its a good proxy indicator nonetheless .
  • #131
  • Oct 30, 2015 8:23am Oct 30, 2015 8:23am
Good trade Joey didnt catch this was due to me being asleep ive notice looking at the ordergraph today that there was a large reduction in the sell stops found in the 120.75 region before the news came out, when the news was released the market seemed to turn where the buy stops at 121.3 -121.4 were found.

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this was 2hours before the news
  • #132
  • Oct 30, 2015 8:42am Oct 30, 2015 8:42am
I got an alert on my cell phone. My wife used to think I was nuts when I would jump out of bed in the middle of the night for this crap. Then I would buy her something nice after the fact. Now she literally pushes me out of bed if I get a text in the middle of the night. Gotta luv em'.


Quoting willo123
Good trade Joey didnt catch this was due to me being asleep ive notice looking at the ordergraph today that there was a large reduction in the sell stops found in the 120.75 region before the news came out, when the news was released the market seemed to turn where the buy stops at 121.3 -121.4 were found. {image} {image} this was 2hours before the news
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  • #133
  • Oct 30, 2015 8:58am Oct 30, 2015 8:58am
haha joey , don't think i could do that lol being woken up for a trade, usually get a headache if i don't get enough sleep

EUR/USD on a funny one today, ran the stops near London open as i suggested but no resulting down movement.

Here's my opinion

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The up-move we are seeing now is a result of the higher time frame traders buying from the lower timeframe seller's, the market is currently quite close to the lower range boundary where we have seen buyers step in 3 times and push the market higher this is easily seen on the daily chart, this move now could be the 4th time they come in and bid the market up , i would wanna see a couple of large range candles close above the high of the pin of the 1 hour chart for this to be confirmed.
  • #134
  • Oct 30, 2015 9:06am Oct 30, 2015 9:06am
Will be watching this zone for a long

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  • #135
  • Oct 30, 2015 9:23am Oct 30, 2015 9:23am
USD/JPY potential topping formation


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notice how the highs at the top of the range are quite close together compared with the lows at the bottom being much further apart, could go down from here or form into a new smaller range.
  • #136
  • Oct 30, 2015 10:59am Oct 30, 2015 10:59am
I'm currently in a long EU trade but from the looks of UJ, I think it's about to pop long to high heaven. Not really my trade so who knows. whats the order book showing

Quoting willo123
USD/JPY potential topping formation {image} notice how the highs at the top of the range are quite close together compared with the lows at the bottom being much further apart, could go down from here or form into a new smaller range.
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  • #137
  • Oct 30, 2015 11:13am Oct 30, 2015 11:13am
Looks like EU is only giving one push this morning. Will take what it offered. May jump to the UJ long
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  • #138
  • Oct 30, 2015 12:35pm Oct 30, 2015 12:35pm
Friday momentum done. Tito's Dirty Martini time...
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  • #139
  • Oct 30, 2015 12:46pm Oct 30, 2015 12:46pm
same ,volmes dropping off now calling it day, may try to get long monday morning on EUR/USD
  • #140
  • Oct 30, 2015 12:46pm Oct 30, 2015 12:46pm
where were you long from joey?
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