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My Line in the Sand

  • #221
  • Oct 18, 2016 3:43pm Oct 18, 2016 3:43pm
Quoting devontrader
{quote} Steve hope you dont mind this video i think is valueable for lots to learn from about the market and candlesticks it helps when looking at daily or 5mins charts i think this may also help to answer what you were posting earlier too the lesson starts around 7mins so skip forwards https://youtu.be/eUGPLGQkIuY

Hi Jason,

It's a good example of basic PA but he doesn't go into the reasons for the Market to move as it does.

You need to also be aware of what has happened to the left.

When we see Levels of Buying or Selling not all the Orders are Filled at the first visit the Market will always return to Liquidity.

Watch the video from about 20:40 to 35:50 and then look at the Chart below.

The weekly Range he is pointing out on W1 is nearly 600 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: 18th Oct 16 EUR:USD d1 Observations.png Size: 156 KB
  • #222
  • Oct 19, 2016 12:57am Oct 19, 2016 12:57am
Quoting hm514
{quote} Hi, great thread. Just a question on this trade, it did not hit your target (126.40) on my feed (tradestation). Did you close it manually?
Hi Hm,

I exited this Trade for +1R +15 pips +2%

Draw Down 7 Pips + Spread

Time Duration 195 Minutes (Time of day had a lot to do with this)
Attached Image (click to enlarge)
Click to Enlarge Name: 19th Oct 16 GBP:JPY M5 Short Trade Result.png Size: 117 KB
  • #223
  • Oct 19, 2016 2:13am Oct 19, 2016 2:13am
Quoting stevepatt
{quote} Hi Jason, It's a good example of basic PA but he doesn't go into the reasons for the Market to move as it does. You need to also be aware of what has happened to the left. When we see Levels of Buying or Selling not all the Orders are Filled at the first visit the Market will always return to Liquidity. Watch the video from about 20:40 to 35:50 and then look at the Chart below. The weekly Range he is pointing out on W1 is nearly 600 pips. {image}
I understand what your saying steve....but how can we identify the moves before the fact.
 
 
Steve just an idea for all to learn better.
Why not do a group call on skype where you teach...show this.....maybe say 7pm uk time
 
  • #224
  • Oct 19, 2016 11:40am Oct 19, 2016 11:40am
Quoting devontrader
{quote} I understand what your saying steve....but how can we identify the moves before the fact. Â Â Steve just an idea for all to learn better. Why not do a group call on skype where you teach...show this.....maybe say 7pm uk time Â

Hi Jason,

We can anticipate where we expect to see Buying or Selling by looking left.

On the Chart below we can see how Price is reluctant to move above the 127.50 Half Number.

Looking left, at this Level, we can see both Selling and Buying.

Wait for the PA to Enter Short.

Look to Exit where there is recent Buying.

1/ Be aware of Previous Levels of Buying and Selling.

2/ When the Market is reluctant to make New Highs or New Lows, LOOK LEFT is it near Levels of Previous Buying or Selling.

3/ If it is Observe PA closely and look for possible PA to Enter a Trade.

4/ Can I achieve at least 1R before reaching the next Level of Buying/Selling if I Enter a Trade.

This is all I do.

Take your time, WATCH the Market, WATCH how it behaves around Previous Levels of Selling and Buying




Attached Image (click to enlarge)
Click to Enlarge Name: 19th Oct 16 GBP:JPY M5 Short Trade Result 2.png Size: 200 KB
  • #225
  • Edited 2:24pm Oct 19, 2016 12:52pm | Edited 2:24pm
GBP/JPY M1/M5 Long Trade
Attached Image (click to enlarge)
Click to Enlarge Name: 19th Oct 16 GBP:JPY M5 Long Trade.png Size: 116 KB
  • #226
  • Oct 19, 2016 2:05pm Oct 19, 2016 2:05pm
Quoting stevepatt
GBP/JPY M5 Long Trade {image}

The Wider Picture

I've moved my SL to BE +1 pip and set my TP to +1R +15 Pips +2%
Attached Image (click to enlarge)
Click to Enlarge Name: 19th Oct 16 GBP:JPY H1 Observations.png Size: 137 KB
  • #227
  • Oct 19, 2016 2:24pm Oct 19, 2016 2:24pm
Quoting stevepatt
GBP/JPY M5 Long Trade {image}
GBP/JPY M1/M5 Long Trade Result

+1R + 15 Pips +2%

My mistimed Entry meant my DD was 11 Pips.

"Time Exposure" was 125 Minutes.

My reasons for exiting are Time of Day, 127.00 RN and H1 Market Structure
Attached Image (click to enlarge)
Click to Enlarge Name: 19th Oct 16 GBP:JPY M1 Long Trade Result.png Size: 110 KB
  • #228
  • Oct 19, 2016 2:26pm Oct 19, 2016 2:26pm
Can you take a look at usdjpy
 
Lower and higher timeframes?
  • #229
  • Oct 19, 2016 2:40pm Oct 19, 2016 2:40pm
Quoting devontrader
Can you take a look at usdjpy  Lower and higher timeframes?

Hi Jason,

You take a look and post what you are seeing.

It's the best way to learn.
  • #230
  • Oct 19, 2016 2:44pm Oct 19, 2016 2:44pm
Quoting stevepatt
{quote} Hi Jason, You take a look and post what you are seeing. It's the best way to learn.
Im not good at doing it hence emails to you...to learn 1 on 1
  • #231
  • Oct 19, 2016 4:57pm Oct 19, 2016 4:57pm
Quoting devontrader
{quote} Im not good at doing it hence emails to you...to learn 1 on 1

Hi Jason,

The USD/JPY Chart is below, now repeat the exercise on a Chart of your choice and post it.

It's the only way to learn.

Look at an H1 Chart and look for the nearest Levels of Supply and Demand that haven't been re-tested.
Attached Image (click to enlarge)
Click to Enlarge Name: 19th Oct 16 USD:JPY H1 Observations.png Size: 226 KB
  • #232
  • Oct 19, 2016 11:58pm Oct 19, 2016 11:58pm
GBP/JPY M5 Further Observations
Attached Image (click to enlarge)
Click to Enlarge Name: 20th Oct 16 GBP:JPY M5 Observations.png Size: 134 KB
  • #233
  • Oct 20, 2016 12:02am Oct 20, 2016 12:02am
Quoting devontrader
{quote} Im not good at doing it hence emails to you...to learn 1 on 1

Hi Jason,

Check this guy out, he is very disciplined in his approach.

His Blog Spot is very informative and "Free"

http://www.forexfactory.com/batus
  • #234
  • Oct 20, 2016 12:02am Oct 20, 2016 12:02am
Steve
 
Could you post your template and i will take a go on eurusd tonight around 7pm for you to look at and make your judgement.
I wanna be able.to do this
  • #235
  • Oct 20, 2016 12:12am Oct 20, 2016 12:12am
Quoting devontrader
Steve  Could you post your template and i will take a go on eurusd tonight around 7pm for you to look at and make your judgement. I wanna be able.to do this
Hi Jason,

Here is my Template all the Indicators are in these two posts.

Post #3 Post #4
Attached File(s)
File Type: tpl Simple PA.tpl   520 KB | 355 downloads
  • #236
  • Oct 20, 2016 3:03pm Oct 20, 2016 3:03pm
GBP/JPY M5 Observations
Attached Image (click to enlarge)
Click to Enlarge Name: 20th Oct 16 GBP:JPY M5 Observations 2.png Size: 146 KB
  • #237
  • Oct 20, 2016 3:17pm Oct 20, 2016 3:17pm
Quoting stevepatt
GBP/JPY M5 Observations {image}
Hi stevepatt

Today was a difficult day to get a decent entry.
At least for me. PA not very enlightening today.
"You may say I am a dreamer .... but I am not the only one."
  • #238
  • Oct 20, 2016 5:04pm Oct 20, 2016 5:04pm
Steve i see what your saying
 
Could you take it one step backwards
 
Could you put comments on the chart for.what your looking for before you would mark the chart.
 
I must admit im guilty of relying on a supply demand indicator.
 
I took it all away then looked and though aghhh what am i looking for.
 
I looked for.big powerful candles pushing away from a level but then stalled thinking how do i mark the chart
  • #239
  • Oct 20, 2016 5:31pm Oct 20, 2016 5:31pm
Quoting guesser
{quote} Hi stevepatt Today was a difficult day to get a decent entry. At least for me. PA not very enlightening today.
Hi Guesser,

When I was around to Trade there was no clear Setups.

So what I am posting, in the chart below, is after the fact but does follow my style of Trading.

It wasn't easy, but there where Trades as long as you knew where previous Buying and Selling had taken place and then waited for Market reactions from those Levels.
Attached Image (click to enlarge)
Click to Enlarge Name: 20th Oct 16 GBP:JPY M5 Observations 3.png Size: 170 KB
  • #240
  • Oct 20, 2016 5:32pm Oct 20, 2016 5:32pm
Quoting devontrader
Steve i see what your saying  Could you take it one step backwards  Could you put comments on the chart for.what your looking for before you would mark the chart.  I must admit im guilty of relying on a supply demand indicator.  I took it all away then looked and though aghhh what am i looking for.  I looked for.big powerful candles pushing away from a level but then stalled thinking how do i mark the chart
Hi jason,

I'll get back to this tomorrow or over the weekend
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