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Up and under price pattern

  • #1,201
  • Jan 20, 2017 10:57am Jan 20, 2017 10:57am
Quoting ruma29
{quote} Well yes, you got it mistaken. entire trading is about patterns otherwise market wouldn't be able to stay organized. QM is one of patterns. Batus help us to accept it on easy way.
fair enough ... keep doing it..
It's in fear when people show what they truly value.
  • #1,202
  • Jan 20, 2017 11:13am Jan 20, 2017 11:13am
Quoting ensale
{quote} fair enough ... keep doing it..
QM was used extensively by Red from the Pie thread
the cautious seldom err....C
  • #1,203
  • Edited 11:28am Jan 20, 2017 11:18am | Edited 11:28am
Quoting pips29
{quote} QM was used extensively by Red from the Pie thread
Thanks for letting me know... will take a look.. much appreciated pips29!
It's in fear when people show what they truly value.
  • #1,204
  • Jan 20, 2017 4:24pm Jan 20, 2017 4:24pm
Quoting batus
{quote} Sorry for that, maybe i have encourage traders with a not quite up & under pattern . Thanks for the comment. I should stop posting ... my apology.
Having just re read Quidsey's first post and his first three charts therein, I must say I am not seeing the problem.

Also, as highly regarded as Quidsey is (was), he has not posted in his thread for over two years and unsubscribed from it in March 2015.

I would be very surprised if he would be anything but happy with the direction his old thread is going and your contribution to it.

You also need to tell us the answer to the question posed in the last chart you posted.
Good Trading
  • #1,205
  • Jan 20, 2017 6:04pm Jan 20, 2017 6:04pm
Quoting batus
The best rule is : YOU MUST KNOW WHAT YOU ARE DOING Because : THERE IS ANOTHER SIDE DOING THE SAME In the eyes of buyers & sellers there are a difference perspective but with the same chart. Whats on it? Below is the same chart ... but with difference perspective. There is one point in the chart that is very important. BUY.png;2148847 SELL.png;2148849 {image} {image}
Hi batus, sincerely thanks for your work, posts, comments... Keep it

I understand market like your post, for me like image:
Attached Image

May be this is the important point for buyers and inverse for sellers:
Attached Image (click to enlarge)
Click to Enlarge Name: BUY.jpg Size: 49 KB

Would you explain it, please? Thanks
Newbie trader
  • #1,206
  • Jan 20, 2017 6:35pm Jan 20, 2017 6:35pm
Quoting pips29
{quote} QM was used extensively by Red from the Pie thread
One of the problems I have with QM is that I don't know which levels will hold. Sometimes people here place their trades before hand so it really shows that they expected those levels to hold. The majority of the charts, however, are after the fact, which doesnt prove much.

I'm currently going through RED's PRICE IS EVERYTHING thread to see if I can learn how to read the market like he does. He seems to be awesome. Have you actually followed the whole thread? What were your takes from it? He doesnt seem to teach, but you can tell he really knows his stuff. I'm trying to put the puzzle together.
  • #1,207
  • Jan 21, 2017 3:26am Jan 21, 2017 3:26am
Quoting JAKammus
{quote} One of the problems I have with QM is that I don't know which levels will hold. Sometimes people here place their trades before hand so it really shows that they expected those levels to hold. The majority of the charts, however, are after the fact, which doesnt prove much. I'm currently going through RED's PRICE IS EVERYTHING thread to see if I can learn how to read the market like he does. He seems to be awesome. Have you actually followed the whole thread? What were your takes from it? He doesnt seem to teach, but you can tell he really...
Yes, I had followed his thread since the beginning and he traded supply/demand like no other guru..he's the best..if I am not mistaken he often drank a bit too much but the results were still stunning..my conclusion is you have to read all his posts if you are interested in just trading price with supply/demand
the cautious seldom err....C
  • #1,208
  • Edited 4:15am Jan 21, 2017 3:44am | Edited 4:15am
Quoting pips29
{quote} Yes, I had followed his thread since the beginning and he traded supply/demand like no other guru..he's the best..if I am not mistaken he often drank a bit too much but the results were still stunning..my conclusion is you have to read all his posts if you are interested in just trading price with supply/demand
It is about personal opinion from whom someone can learn. I visited his thread many years ago, glanced what is going on and never went back...doesn't fit me then and now...therefore i would never ever said he is the best...
  • #1,209
  • Jan 21, 2017 4:02am Jan 21, 2017 4:02am
Quoting ruma29
{quote} It is about personal opinion from whom someone can learn. I visited his thread many years ago, glanced what is going on and never went back...doesn't fit me then and now...therefore i would never ever said he is the best...so your statement is missing something : that is your opinion only. In my opinion that title goes to batus.
Of course it's my opinion...I never claim others said that too..I had learned all that is required to trade supply/demand by following his thread. I don't know who batus is or whether he has a thread. I was only responding to a question asked by a fellow trader. I happened to take a look at this thread only last night and made a comment to ensale..don't worry I won't be back here as I am trading another method profitably
the cautious seldom err....C
  • #1,210
  • Jan 21, 2017 11:12am Jan 21, 2017 11:12am
Interesting set up on the AUD/CAD daily
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Pride always comes before destruction.... -Proverbs 16:18
  • #1,211
  • Jan 21, 2017 1:58pm Jan 21, 2017 1:58pm
Quoting fex
{quote} Hi batus, sincerely thanks for your work, posts, comments... Keep it I understand market like your post, for me like image: Unknown-3.jpg;2149395 May be this is the important point for buyers and inverse for sellers: BUY.jpg;2149400 Would you explain it, please? Thanks {image} {image}
To be more specific...
Attached Image (click to enlarge)
Click to Enlarge Name: BUY.jpg Size: 55 KB
Newbie trader
  • #1,212
  • Edited 10:34pm Jan 21, 2017 9:31pm | Edited 10:34pm
Momentum of up movement should be much less than down movement momentum in case of short QM

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  • #1,213
  • Jan 21, 2017 10:22pm Jan 21, 2017 10:22pm
Quoting pips29
{quote} QM was used extensively by Red from the Pie thread
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  • #1,214
  • Jan 21, 2017 10:39pm Jan 21, 2017 10:39pm
Quoting FX5Star
{quote}106-01-22_1419_fx_sniffer_credits.png;2150036 {image}
It's not important who was the first.
  • #1,215
  • Jan 21, 2017 11:06pm Jan 21, 2017 11:06pm
This pattern is a very good trade setup. It becomes far more reliable if you use volume and cumulative deltas to analyse the price action.

Its important to understand whether the new high or low formed is due to a withdrawal of liquidity and not from supply or demand.
If it was due to a withdrawal there will no longer be resting limit orders at the swing high or low and the market makers will not retest the area for new business.
If the new high was formed due to an increase in supply (low) or demand (high) then price will likely revisit and test that high or low.

If you do not have access to level 2 data which shows cumulative deltas it is a bit more difficult to identify a withdrawal of liquidity, however you can look to volume for clues.

In the chart below Price moves down to the 136.50 area on GBPJPY. 136.50 is a round number and a level of support / resistance especially for GJ.
The move down the cumulative deltas where flat (bottom panel) indicating that it was not active sellers selling into the market that made price move down but rather a withdrawal of liquidity into the area.
There is a nice drop off in volume going into the 136.50 level indicating a drop off in supply.

You have a nice S/R level forming with pins (green boxes) at the 137.00 level (another round number and area of liquidity) and its clear its buys side above sell side below this level.

Price moves away from 136.50 on strong buying deltas, takes out the previous fractal level (red box) . This is important as this is the last point sellers came into the market so the supply has been taken out of the market.
Price them moves back down to test 137.00 on decreasing volume. You have a very high probability trade at the blue arrow.

So if you dont have access to level 2 and cumulative deltas look for drop off in volumes for the area that forms the top / bottom and again a drop off in volume for the test.
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Boxing clever since 76.
  • #1,216
  • Edited 4:24am Jan 22, 2017 4:13am | Edited 4:24am
Right, certainly is not important who was first but it cannot be denied or forgotten:Sam Seiden. many ugly examples in FF by those who artificially create derivatives based on Sam Seiden...redsword11 ( based his preaching on Sam Seiden) did not invent anything; creating new words, terminology etc. does not change way how market makers trade....they would do it with him or without him...overvalued person, got credits for nothing....volume , liquidity PA, existed and analysed, thought by R.Wyckoff long time ago. Another ugly example is alfonso....

This is my opinion and everyone has equally right to agree or disagree with me.
  • #1,217
  • Jan 22, 2017 11:48pm Jan 22, 2017 11:48pm
Hey everyone ! Started off with a loss on EU. Made that back and some profits on AU.
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  • #1,218
  • Jan 22, 2017 11:54pm Jan 22, 2017 11:54pm
Quoting Baymax07
Hey everyone ! Started off with a loss on EU. Made that back and some profits on AU. {image}
AU
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  • #1,219
  • Jan 23, 2017 1:53am Jan 23, 2017 1:53am
GJ
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  • #1,220
  • Jan 23, 2017 3:23am Jan 23, 2017 3:23am
Quoting Baymax07
GJ {image}
Will u buy at 140.920?
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