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  • #241
  • Apr 12, 2016 5:29pm Apr 12, 2016 5:29pm
Quoting sweetaction
{quote} why is this level significant Simon
Just picking from SuperP Chart, I think he was looking at this, but I think this has still room to go till 1.2650 or so before we see any move back up, trying to post a screen shot here, hope it works!
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  • #242
  • Apr 12, 2016 5:50pm Apr 12, 2016 5:50pm
SuperP, and workingforex we might have to video UCAD, as there is a lot of clutter on this chart thats not what you want for levels.

I might try and sort out some webinar software and we can have a live session during europe if that suits

it would be easier to take questions and explain I think

Simon
99% of Traders fail, so don't follow the herd
  • #243
  • Apr 12, 2016 6:31pm Apr 12, 2016 6:31pm
GBPNZD

The moment of truth has arrived for this pair does it want to go back into its range above 20650 or does it want to go down to 20350, the next test of 20650 will decide Asia might definitely push it back into its range, it will be what Europe does next thats key.

Simon
99% of Traders fail, so don't follow the herd
  • #244
  • Apr 12, 2016 6:34pm Apr 12, 2016 6:34pm
Quoting sweetaction
SuperP, and workingforex we might have to video UCAD, as there is a lot of clutter on this chart thats not what you want for levels. I might try and sort out some webinar software and we can have a live session during europe if that suits it would be easier to take questions and explain I think Simon
Sounds good to me 👍🏻
  • #245
  • Apr 13, 2016 12:14am Apr 13, 2016 12:14am
Quoting sweetaction
GBPNZD Up to date Analysis GN has been a bit of an unruly teenager this week deciding when and how it was going to move regardless of what all its piers have been doing. I will share my top down analysis for you: 1. First Chart is a d1 chart , looking at where price can come too for sell orders 2. Second chart is the 4h chart, this clearly shows the levels that have been filled in a nice cup formation as well 3. The 1h chart showing how price is slowing down, slow grind down, no real seller money driving this, buyers and seller pretty much in balance...
Hi Simon,

I have started bit late in your thread. I am trying to grasp all your explaination. So my query is bit outdated.
Regarding your 4hr chart, you have mentioned level has been taken out. But actually there is no close above 2.1. highlighted in the snapshot. Do we still consider this as Level Taken out?

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  • #246
  • Apr 13, 2016 12:28am Apr 13, 2016 12:28am
Hello Ramkirshnava

Question:
But actually there is no close above 2.1. highlighted in the snapshot. Do we still consider this as Level Taken out?

This is textbook thinking not price action thinking the books tell you for the level to be violated it must close above/below depending on trend

This is 100% absolutely not true, if it touches the previous level then its done,

so in this case 30th March and again on 4th April

and to prove it the next time it returns after the 4th April I guarantee it will slip through even more than the last price on the 4th April or breakout, as orders have been filled by the first touch.

Make Sense

Simon
99% of Traders fail, so don't follow the herd
  • #247
  • Apr 13, 2016 1:07am Apr 13, 2016 1:07am
Quoting sweetaction
EJ So far there is a nice bit of respect for EJ at 123.15 only been to 123.12 that's pretty much bang on in my book, retrace 30 pips so far, not bad considering how much yen buying we have see for hours now. Wait for the pullback need to see the strength of this as well and what price action is doing Here is a fun task to do while we wait pull up the 1h EJ chart and can anybody give me an indicator that says buy now 52% of the retail traders are short this pair now, i mean do these guys own charts Simon
Hi Simon,

Where we can understand the % of buyers and sellers for any specific pair?

I am referring this statement
EJ chart and can anybody give me an indicator that says buy now 52% of the retail traders are short this pair now,
  • #248
  • Apr 13, 2016 1:09am Apr 13, 2016 1:09am
I will video it

I have a few examples for this better than this one
99% of Traders fail, so don't follow the herd
  • #249
  • Apr 13, 2016 3:43am Apr 13, 2016 3:43am
Hi Sweetaction really enjoying your thread ive gone through it a couple of times.I have been trading for 3 yrs and am really at the b/even stage not seeing any real profits.
I am trying to set myself up as a trader along the same lines that you trade eg.no indicators,following price etc.My one main problem is sticking to a certain strategy i tend to jump around alot hoping to find the one that will bring me profit on a regular basis.Any advice to kerb the strategy jumping would be great and also i trade from NZ and find alot of the big moves happen when im asleep US/LON sessions which is a little frustrating any ideas on how to combat this or examples of how you trade over these sessions as your in a similar time frame.Thanks again for sharing all your knowledge.
  • #250
  • Apr 13, 2016 4:21am Apr 13, 2016 4:21am
Good Evening All

Coming up is a new video I have called it 30 minute levels, digs in a bit more explains the theory a bit more, answer some questions I have had.

Can I just say please don't see your trading as a science because it isn't. Charting is art, and being able to interpret is one of the 3 big keys to trading.
Being obsessed over a couple of pips here and there don't worry I lose many more trades by 1 or 2 pips by not being filled, but don't stress this as long as you have the approximate level and you are in the range of safety then you will be fine.

This video also digs past the big levels whilst I trade the big cash levels with my own money, most of the other money I trade is smaller tf stuff as most investors don't like being in the market (well at least mine don't), they like small TF trading, regular wins so I am going to start to explore this with you and the methods I use.

Simon
99% of Traders fail, so don't follow the herd
  • #251
  • Apr 13, 2016 4:25am Apr 13, 2016 4:25am
GU
Looks like its starting to roll over some
14300 - 14330
could be the last look at the top for a little while

Simon
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99% of Traders fail, so don't follow the herd
  • #252
  • Apr 13, 2016 4:26am Apr 13, 2016 4:26am
30 minute levels

Inserted Video


Simon
99% of Traders fail, so don't follow the herd
  • #253
  • Apr 13, 2016 4:36am Apr 13, 2016 4:36am
GJ
should get a look at 156.00 soon enough
Simon
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99% of Traders fail, so don't follow the herd
  • #254
  • Apr 13, 2016 4:40am Apr 13, 2016 4:40am
ECAD
Here is a interesting one have a look at this chart, it has two levels marked which ones the better one and why

14740-14714
or
14686-14663

Post your answers here in the thread

no judgement lets have some fun

Simon
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99% of Traders fail, so don't follow the herd
  • #255
  • Apr 13, 2016 4:50am Apr 13, 2016 4:50am
Quoting sweetaction
ECAD Here is a interesting one have a look at this chart, it has two levels marked which ones the better one and why 14740-14714 or 14686-14663 Post your answers here in the thread no judgement lets have some fun Simon {image}

Hi Simon, 14740-14714, because there's more stops there?
If you are new to FX don"t follow my trades, I 've blown many live accounts
  • #256
  • Apr 13, 2016 4:59am Apr 13, 2016 4:59am
G'day Simon. I don't watch or trade CAD pairs but, for the fun

1.4686 would be my choice as the upper levels have seen more orders taken. Whereas 1.4686 hasn't been revisited and likely has fresh orders there. If the upper levels are reached it could likely mean...

1. More slippage through them even if they hold thus needing a wider stop loss.
2, A continuation long should they fail to hold.


And .... 156.30 on GJ please.
Ghost Rider - WWTBMD?
  • #257
  • Apr 13, 2016 5:00am Apr 13, 2016 5:00am
ok lets make the competition interesting
here is a GBPCAD chart same TF, similar pair to EURCAD
whats better
18354
or
18416 - 18435

look at both charts carefully.

Simon
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99% of Traders fail, so don't follow the herd
  • #258
  • Apr 13, 2016 5:08am Apr 13, 2016 5:08am
Quoting albchr
G'day Simon. I don't watch or trade CAD pairs but, for the fun 1.4686 would be my choice as the upper levels have seen more orders taken. Whereas 1.4686 hasn't been revisited and likely has fresh orders there. If the upper levels are reached it could likely mean... 1. More slippage through them even if they hold thus needing a wider stop loss. 2, A continuation long should they fail to hold. And .... 156.30 on GJ please.

curious what are you seeing at 15630 on GJ
99% of Traders fail, so don't follow the herd
  • #259
  • Apr 13, 2016 5:13am Apr 13, 2016 5:13am
GJ and GCAD having another go at the top of their ranges.
99% of Traders fail, so don't follow the herd
  • #260
  • Apr 13, 2016 5:23am Apr 13, 2016 5:23am
Quoting sweetaction
{quote} curious what are you seeing at 15630 on GJ
Well, only if you promise not to be upset with me for using fibs. ... lol

It's the 50% of it's entire ride up on monthly. It was taken out quite cleanly after a pause & test last week and not revisited since. I've been patiently waiting for that level to rejoin what I see as "potentially" the last leg of the long down trend. Sorry no charts on this laptop but you can see my post from last week where I expected the retrace from where it hit bottom here.

http://www.forexfactory.com/showthre...56#post8861056

I had 151.684 and it bounced at 151.647. Missed it by a touch.
Ghost Rider - WWTBMD?
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