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The One: Price Action and Reaction

  • #661
  • Edited 2:29pm Dec 13, 2015 8:13am | Edited 2:29pm
Quoting eaglestar
{quote} You have to use your own judgement when using the different types of Median Lines and when each one works better or not. Width median lines are used when there is a long term range or coil for the most part. Alternate A's are used when the frequency if the fork is better using an Alternate A. B and C pivots are left alone because when you change those you may be curve fitting. Remember: High Low High or Low High Low but always ABC. D I guess you could consider as your target if we were using fibs, so we could call D our target. Many times...
much clearer now ty

BTW, because you asked where would I enter and draw earlier..., I used the GBPUSD chart just as an example for "not conventional" pivots placement, I would probably use the main pivots in real time (in fact here's the chart)...
the 3rd wave is the crowd's wave
  • #662
  • Dec 13, 2015 8:36am Dec 13, 2015 8:36am
Quoting Winston Reed
{quote} Hey duy!. I'm impressed! You're doing great!. The AUDCAD looks good except for one thing. The darker blue fork you have drawn with High,High,Low. Always draw High, Low, High or Low, High, Low. See my chart. Now show me where the trades might have been. {image}

Hello Winston, thank you for you input, however for me that was not HHL, because i tried to to mod schiff line, but i connected the median line to the point which made sense to me in terms of retesting of Fork =) Hope that makes sense. But I am wondering if I am doing mod schiff line correctly

Quoting Winston Reed
{quote} This is the best I can do with my broker on AUDJPY monthly. The magenta fork you've drawn is the most significant. Can you tell me why? the red fork is HIGH, HIGH, LOW so it is incorrect. Don't worry an easy adjustment for you to make. Also your zero point or A point is right in the middle of an uptrend. Points A,B,C should always be major swings. {image}
Look at the pic, that is how i drew the magenta line, however not sure if its correct =)

Guys i have come up with my trading system, however its kind of confusing, but I want to discuss and research with this group how to simplify to make the trading system consistent.

I will attach the steps in the charts here and hopefully we can find a way where we all can trade profitably
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDJPY-Monthly-Fork.png Size: 45 KB
Click to Enlarge Name: Step 1- 4.png Size: 53 KB
Click to Enlarge Name: Step 5-7.png Size: 40 KB
Click to Enlarge Name: step 8-11.png Size: 39 KB
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Click to Enlarge Name: step 13-16.png Size: 56 KB
  • #663
  • Dec 14, 2015 12:05am Dec 14, 2015 12:05am
Quoting duy90
{quote} Hello Winston, thank you for you input, however for me that was not HHL, because i tried to to mod schiff line, but i connected the median line to the point which made sense to me in terms of retesting of Fork =) Hope that makes sense. But I am wondering if I am doing mod schiff line correctly {quote} Look at the pic, that is how i drew the magenta line, however not sure if its correct =) Guys i have come up with my trading system, however its kind of confusing, but I want to discuss and research with this group how to simplify to make...
Think about switching to just one timeframe for now. :nerd:

Everyone it is really important to have a trading plan in place. You should be keeping a trading journal with each trade, using the trade entry worksheet provided on the first post, and using a minimum RRR of 3:1
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #664
  • Dec 14, 2015 7:00am Dec 14, 2015 7:00am
Quoting juriFX
{quote} price reached energy point and upper ML, next week price could continue lower (maybe to the ML) {image} {image} price repected frequency lines
EU update:

second energy point touched and rejected with good separation, a nice short opportunity, as it was on the first energy point.
Attached Image (click to enlarge)
Click to Enlarge Name: eu 30m 3.png Size: 160 KB


Let's see what's next
the 3rd wave is the crowd's wave
  • #665
  • Edited 7:35am Dec 14, 2015 7:19am | Edited 7:35am
Quoting juriFX
{quote} EU update: second energy point touched and rejected with good separation, a nice short opportunity, as it was on the first energy point. {image} Let's see what's next
another view, same frequency, another reason for a short
Attached Image (click to enlarge)
Click to Enlarge Name: eu 30m alt.png Size: 93 KB
the 3rd wave is the crowd's wave
  • #666
  • Dec 14, 2015 7:22am Dec 14, 2015 7:22am
I've sold NZDUSD based on the downsloping fork. Friday there was good separation off the retest of the sliding parallel. Recently a new high was rejected after price breached the magenta fork to the downside. Now one could make an argument to have gone long at the retest of the magenta fork lower median line. This would be in keeping with the daily trend as seen on my chart. My SL is about 50 pips. I'm going for 3:1 on this trade as shown.
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSDDaily121415.png Size: 48 KB
  • #667
  • Dec 14, 2015 10:37am Dec 14, 2015 10:37am
Quoting Winston Reed
I've sold NZDUSD based on the downsloping fork. Friday there was good separation off the retest of the sliding parallel. Recently a new high was rejected after price breached the magenta fork to the downside. Now one could make an argument to have gone long at the retest of the magenta fork lower median line. This would be in keeping with the daily trend as seen on my chart. My SL is about 50 pips. I'm going for 3:1 on this trade as shown. {image}
Think about aiming for the median line or the sliding parallel right above it.
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #668
  • Dec 14, 2015 1:46pm Dec 14, 2015 1:46pm
Quoting juriFX
{quote} EU update: second energy point touched and rejected with good separation, a nice short opportunity, as it was on the first energy point. {image} Let's see what's next
One of my worst habits is counter trend trading when I've no real evidence that things have changed - I draw in a fork, think that price is going to make the median line (at least 80%of the time), I see price closing with separation off my lines - I get in and price bumps just as I think it should only for it to turn around on me.

Since last Thursday's news price has been moving higher - no lows getting broken and highs getting taken out. Strong support at around 1.0935 and a little higher. It seems to me that your yellow ML set is trying to describe a pullback in that trend. If price reached the ML then I'd be looking to see if price turned and gave me an opportunity to get long. However price has traded above the UMLH of that ML set - ANdrews says that when price gaps (zooms) through a line then it will frequently retest that line from the other side - I see a sliding parallel getting zoomed so a retest of that line and of the LMLH of the upsloping modified schiff ML set might be a place to get long.

For a short I'd want to see at least one real swing low taken out - This keeps me focused on market structure and not just my lovely lines.
Attached Image (click to enlarge)
Click to Enlarge Name: 14th Dec Eur 30min.png Size: 33 KB
  • #669
  • Edited 5:17pm Dec 14, 2015 2:33pm | Edited 5:17pm
Quoting bartlby37
{quote} One of my worst habits is counter trend trading when I've no real evidence that things have changed - I draw in a fork, think that price is going to make the median line (at least 80%of the time), I see price closing with separation off my lines - I get in and price bumps just as I think it should only for it to turn around on me. Since last Thursday's news price has been moving higher - no lows getting broken and highs getting taken out. Strong support at around 1.0935 and a little higher. It seems to me that your yellow ML set is trying...
Good points . And to add price jumped higher from the reaction line (AR set).
Still getting comfortable with this way of trading.

Maybe some more discussion about when to look for counter trend median lines would clear some confusion up.
For example how to handle opposing lines of force (ML, AR, etc...)
the 3rd wave is the crowd's wave
  • #670
  • Dec 14, 2015 2:38pm Dec 14, 2015 2:38pm
Quoting juriFX
{quote} Good points . And to add price jumped higher from the reaction line (AR set). Still getting confortable with this way of trading. Maybe some more discussion about when to look for counter trend median lines would clear some confusion up. For example how to handle opposing lines of force (ML, AR, etc...)
Wait until price breaks out of the median line or reverses at a median line and starts to make new lows... preferably 3d lows as well will give a clue. A 3d low could be higher than a 2d low if you understand what I am saying.
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #671
  • Dec 14, 2015 2:45pm Dec 14, 2015 2:45pm
Quoting eaglestar
{quote} Wait until price breaks out of the median line or reverses at a median line and starts to make new lows... preferably 3d lows as well will give a clue. A 3d low could be higher than a 2d low if you understand what I am saying.
Hi Eaglestar - could you show an example of what you mean on a chart - I think I have a vague idea of what you're saying but seeing it would be a great help.

Thanks

B.
  • #672
  • Dec 14, 2015 3:00pm Dec 14, 2015 3:00pm
Quoting bartlby37
{quote} Hi Eaglestar - could you show an example of what you mean on a chart - I think I have a vague idea of what you're saying but seeing it would be a great help. Thanks B.
I will a bit later, busy in a webinar at the moment.
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #673
  • Dec 14, 2015 5:28pm Dec 14, 2015 5:28pm
Quoting bartlby37
{quote} Hi Eaglestar - could you show an example of what you mean on a chart - I think I have a vague idea of what you're saying but seeing it would be a great help. Thanks B.
I think this is an example of what a 3d higher high / lower low means.
2D vs 3D:
Attached Image (click to enlarge)
Click to Enlarge Name: 2d vs 3d high low.png Size: 109 KB
the 3rd wave is the crowd's wave
  • #674
  • Dec 14, 2015 8:35pm Dec 14, 2015 8:35pm
No trades yet waiting.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: EURUSDDaily.png Size: 37 KB
Click to Enlarge Name: EURUSDH1.png Size: 38 KB
  • #675
  • Dec 15, 2015 3:14am Dec 15, 2015 3:14am
  •  Hpt
  • Joined Jun 2015 | Status: everybody trade at one`s own risk | 648 Posts
EURUSD H1

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH1 Sliding P.png Size: 51 KB


Test and retest of Upper Median Line
from level to level - you need mental strength to reach the summit
  • #676
  • Dec 15, 2015 4:32am Dec 15, 2015 4:32am
Quoting juriFX
{quote} I think this is an example of what a 3d higher high / lower low means. 2D vs 3D: {image}
Thanks
  • #677
  • Dec 15, 2015 11:32pm Dec 15, 2015 11:32pm
Eaglestar, I salute (thumbs-up version) you sir for creating this thread.
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #678
  • Dec 16, 2015 3:05am Dec 16, 2015 3:05am
EURUSD Short at retest of ML from below - might be late on this as I was late to the office but had penciled the idea in yesterday. I shall get out whatever happens before I leave the office tonight - too much news in the offing - in fact I wasn't going to trade at all today but this looked so like the idea I'd penciled in that I couldn't refuse it.
Attached Image (click to enlarge)
Click to Enlarge Name: 16th Dec EURUSD 15 min.png Size: 41 KB
  • #679
  • Dec 16, 2015 3:34am Dec 16, 2015 3:34am
  •  Hpt
  • Joined Jun 2015 | Status: everybody trade at one`s own risk | 648 Posts
EURAUD H4

In my view further down

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDH4.png Size: 132 KB
from level to level - you need mental strength to reach the summit
  • #680
  • Dec 16, 2015 4:45am Dec 16, 2015 4:45am
  •  Hpt
  • Joined Jun 2015 | Status: everybody trade at one`s own risk | 648 Posts
EURGBP H1

down ? up ? - nowhere


Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPH1.png Size: 75 KB
from level to level - you need mental strength to reach the summit
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