I agree with a short term long. However I am personally looking to re-enter shorts above the .7700 level. Looking for USD strength over the next 4-5 trading days. regards, goma {image}
Price Will Tell - Supply/Demand Price Action Trading
- #961
- Aug 18, 2016 8:30am Aug 18, 2016 8:30am
- Joined May 2012 | Status: ... | 1,925 Posts
- #963
- Aug 18, 2016 9:01am Aug 18, 2016 9:01am
- Joined May 2012 | Status: ... | 1,925 Posts
M5 view on AUDUSD
Looks like a piece of cork bobbing around the ocean sort of stuff at the moment. There's a couple of zones I'd be interested in, if for no other reason than just note how price reacts.
Drawn a trend-line in. I often find it beneficial to remind myself how stuff like trend-lines relate to SR and are really just a time-based rendering of how price forms and subsequently reacts to its own breakouts over time.
Anyhow, I should be in the pub by now
Cu later.
Looks like a piece of cork bobbing around the ocean sort of stuff at the moment. There's a couple of zones I'd be interested in, if for no other reason than just note how price reacts.
Drawn a trend-line in. I often find it beneficial to remind myself how stuff like trend-lines relate to SR and are really just a time-based rendering of how price forms and subsequently reacts to its own breakouts over time.
Anyhow, I should be in the pub by now
Cu later. 
- #965
- Aug 18, 2016 9:41pm Aug 18, 2016 9:41pm
- Joined Nov 2015 | Status: Trader | 2,976 Posts
haha ..........great support done by you... really thanks... usually what you are drawn i do manual watch by eyes.. but when to draw i did mistake.... really thank you so much for this help.... much of thanks once again 
This is how i draw support & ressistance level. Details at here . {image}
Success is a Journey Not a Destination....... kind regards ramzam
- #966
- Aug 18, 2016 10:01pm Aug 18, 2016 10:01pm
haha ..........great support done by you... really thanks... usually what you are drawn i do manual watch by eyes.. but when to draw i did mistake.... really thank you so much for this help.... much of thanks once again
there are many styles to draw snr but i just use this one.
- #968
- Aug 19, 2016 1:06am Aug 19, 2016 1:06am
- Joined May 2012 | Status: ... | 1,925 Posts
M5 view on AUDUSD
Here's the follow up to last night's M5 chart with SR levels posted. There's also a couple of extra lines thrown in at lower prices.
For those with the eyes to spot it, the bearish PA was setting up around the time of posting the original chart.
- #971
- Aug 19, 2016 7:07am Aug 19, 2016 7:07am
It was very interesting actually. From my point of view SNR occur on trendline & horizontal line. From where the price came & to where the price heading is important. At point that price meet a TL & HL SNR is a critical point. Usually it consolidate before a great imbalance. I usually monitor this point.
When it met at a right place & at a right timing as below, a great imbalance occur. Selection of pairs also important pertaining to the event.
When it met at a right place & at a right timing as below, a great imbalance occur. Selection of pairs also important pertaining to the event.
- #972
- Aug 19, 2016 7:19am Aug 19, 2016 7:19am
- Joined Nov 2015 | Status: Trader | 2,976 Posts
Success is a Journey Not a Destination....... kind regards ramzam
- #973
- Aug 19, 2016 7:21am Aug 19, 2016 7:21am
- Joined Nov 2015 | Status: Trader | 2,976 Posts
Success is a Journey Not a Destination....... kind regards ramzam
- #974
- Edited 8:33am Aug 19, 2016 8:05am | Edited 8:33am
- Joined May 2012 | Status: ... | 1,925 Posts
{quote} There's a very interesting discussion (and hopefully some useful learning) to be had regarding this chart and SR + trend lines.
That situation changed overnight, however, when price made bearish chart PA at SR, giving both a trade and of course later on producing the primary Lower High (which has now shifted along to the right).
With the primary Lower High printed, it can be interesting to leave all of the original lines in place and now draw in a fresh "trend" line to thus see the following:
The books commonly refer to these dual trend-lines as a "fan" or even "fibo" fan. Regardless of what we decide to call them, this is a good and hopefully useful real-time example of how price-action constructs these type of chart phenomena.
Fancy patterns aside, the questions remain, what's useful, what's not useful, what does one need to pay attention to in order to trade comfortably and efficiently, and what should one disregard?
My view on the above questions maintains that as much as "trend" lines can help, they're prone to often confuse as well because we may see price seemingly breakout above them (as it did in this example), thus drawing in traders to get loaded long, only to then miss the better opportunity for shorting at horizontal SR above.
Hopefully it's now possible to see that among all of these observations there's a common-denominator. For me at least, regarding trend-lines, that common-denominator is Horizontal SR. It's the DNA of all trend-lines and also the DNA of the breakout, which in my view also makes it the DNA of price-direction. One thing's for sure in these markets; if we don't understand direction, we'll find it almost impossible to analyse, plan and trade.
In essence, referring back to the original chart:
- #976
- Aug 19, 2016 3:34pm Aug 19, 2016 3:34pm
- Joined May 2012 | Status: ... | 1,925 Posts
where the price came & to where the price heading is important.
{quote} A chart below explained & yes we can use whatever method as a filter as long we understand the method. {image} {image}
Based on the illustrated pic you posted , i first see a QM level. First target (or obstacle) could be at the green rectangle. Then price engulfs it , however the source of the move (that engulfed the green rectangle) , is too close from another source right above (as you pointed "look further to the left")... It's a fakeout. (as some people call it).
I would need either a double engulf (i.e. breaking the source that is further to the left) , to see it as an engulf. (then wait for a retrace for a continuation of the move on the bullish side)
Or look @ Dollar index for confirmation. Or see what price is doing at lower time frames.
But i guess what i was trying to say is that i'm still wondering if what we call a "fakeout" is truely what it is though ? Because it ultimately reaches a maximum pain level. but it doesn't just spike nowhere. It just goes to a slightly better price. Or maybe it still can be considered a so called "fakeout" since it probably triggers many stop losses.
ps: sorry for my broken english , french is my native tongue so....
- #979
- Aug 22, 2016 4:46am Aug 22, 2016 4:46am
But i guess what i was trying to say is that i'm still wondering if what we call a "fakeout" is truely what it is though ? Because it ultimately reaches a maximum pain level. but it doesn't just spike nowhere. It just goes to a slightly better price. Or maybe it still can be considered a so called "fakeout" since it probably triggers many stop losses.
Hi Achlys, yes you are right & your english is good
The words that i highlighted is true. What is the main objective & why the big investors entry? IT's about ORDER.
The main objective that they invest in a quiet huge sum of money only to gain a profit.
Where do they entry? with a huge invest, they need a huge order. How did they do that? By creating the order.
Ever heard about fear & greed? Below is the chart explained about it. It's not the big money invest there , i just want to show an example :
Hi Achlys, yes you are right & your english is good
The words that i highlighted is true. What is the main objective & why the big investors entry? IT's about ORDER.
The main objective that they invest in a quiet huge sum of money only to gain a profit.
Where do they entry? with a huge invest, they need a huge order. How did they do that? By creating the order.
Ever heard about fear & greed? Below is the chart explained about it. It's not the big money invest there , i just want to show an example :
- #980
- Aug 22, 2016 6:27am Aug 22, 2016 6:27am
- Joined May 2012 | Status: ... | 1,925 Posts
But i guess what i was trying to say is that i'm still wondering if what we call a "fakeout" is truely what it is though ? Because it ultimately reaches a maximum pain level. but it doesn't just spike nowhere. It just goes to a slightly better price. Or maybe it still can be considered a so called "fakeout" since it probably triggers many stop losses.
"Fakeout" is often applied (just as you've observed) to a scenario where price seems to be slicing up (or down) through levels only to hit some higher price area to the left and come crashing back. The situation for a trader who had adopted the phrase into his own method, can make it seem like the market has suddenly conspired against him to "fake" him out. In other words, things start to feel "personal". What happens, however, if a trader steps up to a higher TF.
Batus' AJ trade is a good example. Does the chart look any different when we view it in H4? The M30'ish "fakeout" resolves into a standard first test of a H4 engulfing candle (which incidentally was the decision-point (or range) to push price lower than that demand to the left).
There are many fancy (and very misleading) phrases knocking around these forums, and I believe "fakeout" is one of them. Ultimately, I think if traders traded in a high enough TF, or at the very least, factored in what's going on in the TFs above where they're currently looking, they could dispense with the term altogether.
