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Price vs. Price and Time

  • Post #1
  • Quote
  • First Post: Edited 9:22am Oct 23, 2015 8:32am | Edited 9:22am
Apologies as I am sure it has been discussed infinity times in some way or another, but has anyone moved as close as possible to focus on price only? Today's EURUSD market was classic. Minor retracements held and now we have moved to new lows. The price action in between those key levels was very choppy and difficult.

Tools:
- Fibonacci Retracements
- Fibonacci Projections
- Long Term Moving Averages
- Ok watch out a little for monster event risk and other factors.
Quoting R19
has anyone moved as close as possible to focus on price only?

Yes, many traders have, including those who use tick charts (and I think maybe those using Point-and-Figure charts, as well?).


Quoting R19
Tools:
- Fibonacci Retracements
- Fibonacci Projections
- Long Term Moving Averages

I don't use any of those, myself.

Moving averages tend to be time-based (though they don't have to be).

Indicators are in any case a separate issue from whether one's using "price and time" or just "price" on charts.
  • Post #3
  • Quote
  • Edited 11:33am Oct 23, 2015 10:04am | Edited 11:33am
To clarify on long term moving averages - 1 Hour, 4 Hour, Daily, Weekly, they move much slower than intraday price so they tend to approach support and resistance levels in their impact.

Too often I have target levels that hit, but I capture very little - Today EURUSD

Reasonable Retracement Level: 1.1130-1.1170 depending on small percentage Fibonacci Retracement

In Between That and Target: Hell, Chaos, Vol, Moar Choppy?

Target: 1.1010 - AND IT HIT


What did I do? I got caught in the market early = Hell, Chaos, Vol, Moar Choppy because I was timing the market vs. patiently waiting for the market to come in. I might have missed the entry by having one of the higher level retracements, but that is something that can be adjusted or would rather miss than get run over for near break even.
Quoting R19
they tend to approach support and resistance levels in their impact.

I find it better to draw and use S/R levels rather than to "approach" them.
  • Post #5
  • Quote
  • Edited 9:56am Nov 4, 2015 9:29am | Edited 9:56am
And EURUSD hits the price target I set in Asia, but I didn't capture it because of price and time! It seems that often even if the massive gates of economic data/ event driven situation are looming, there is still time for the market to get its butt in gear and follow through on a move.
Quoting R19
And EURUSD hits the price target I set in Asia, but I didn't capture it because of price and time!
Too bad. I'm the opposite. This classic EUR/USD today did a good job. As I predicted in my analysis, this currency pair loves me and the market went to meet me.
Quoting R19
To clarify on long term moving averages - 1 Hour, 4 Hour, Daily, Weekly, they move much slower than intraday price so they tend to approach support and resistance levels in their impact. Too often I have target levels that hit, but I capture very little - Today EURUSD Reasonable Retracement Level: 1.1130-1.1170 depending on small percentage Fibonacci Retracement In Between That and Target: Hell, Chaos, Vol, Moar Choppy? Target: 1.1010 - AND IT HIT What did I do? I got caught in the market early = Hell, Chaos, Vol, Moar Choppy because I was timing...
WOW! You are almost an equilibrium trader. Congratulations
You cannot be extraordinary by being normal
Quoting dkrock
{quote} WOW! You are almost an equilibrium trader. Congratulations
You have to look at that market day to understand it what I'm speaking about. Thanks.
Quoting R19
{quote} You have to look at that market day to understand it what I'm speaking about. Thanks.
I was being sincere. I know sometimes it is hard to tell in here. You are heading in the right direction in my opinion. When your moving averages are acting as support/resistance, it is only a matter of finding the right tool to measure price as it moves from them You are almost there!!
You cannot be extraordinary by being normal
  • Post #10
  • Quote
  • Last Post: Nov 4, 2015 12:52pm Nov 4, 2015 12:52pm
Quoting dkrock
{quote} I was being sincere. I know sometimes it is hard to tell in here. You are heading in the right direction in my opinion. When your moving averages are acting as support/resistance, it is only a matter of finding the right tool to measure price as it moves from them You are almost there!!

I took it at such - sorry. For example, today I went in looking to short EURUSD in the Asia market and it didn't really break. The real move lower in EURUSD today started right before a series of US economic data as well as a low probability flip out from Yellen given her speaking engagement.

Mr. Price gets all because they looked at the set up and took price.

Mr. Price & Time could have captured some of the move or in my case really missed most of it in observance of what turned out to be bull.
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