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My Line in the Sand

  • #341
  • Feb 3, 2017 7:14am Feb 3, 2017 7:14am
Quoting stevepatt
{quote} GBP/JPY M5 Short Trade Result +30 Pips +2R {image}
If price may fall lower could you show where the next level could be?
  • #342
  • Feb 3, 2017 7:17am Feb 3, 2017 7:17am
Quoting devontrader
{quote} If price may fall lower could you show where the next level could be?
Hi Jason,

Take a look on H4 and you tell me.
  • #343
  • Feb 3, 2017 7:22am Feb 3, 2017 7:22am
Quoting stevepatt
{quote} Hi Landline, As I see it Sell Orders now exceed Buy Orders 141.000 - 140.800. The latter part of yesterday and today we saw Sellers Accumulating their positions by taking the other side of the Buy Orders that had been sitting around 141.000. As soon as all the Buy Orders had been Consumed the Market falls to the next Level of waiting Buy Orders, probably around the 140.00 RN. At this point Sellers will either off load their Sells to the waiting Buyers or Accumulate more Sells to push the Market even lower, like today. The thing is we don't...
Understood...the crucial point is that you have a method all your own that enables your justification of when and when not to take a trade on...which is good!

Everyone should do the same and eventually positive enough consistency prevails...good stuff!
  • #344
  • Feb 3, 2017 7:38am Feb 3, 2017 7:38am
Quoting Landline
{quote} Understood...the crucial point is that you have a method all your own that enables your justification of when and when not to take a trade on...which is good! Everyone should do the same and eventually positive enough consistency prevails...good stuff!
Exactly...what makes sense to one goes completely over an-others head.

I was like that all the time even the simplest concepts went over my head because I was trying to understand them from inside someone elses head.

Like, I have said before it was only when I started to make it "work inside my head" that my Trading really progressed.
  • #345
  • Feb 3, 2017 7:52am Feb 3, 2017 7:52am
Quoting stevepatt
{quote} Exactly...what makes sense to one goes completely over an-others head. I was like that all the time even the simplest concepts went over my head because I was trying to understand them from inside someone elses head. Like, I have said before it was only when I started to make it "work inside my head" that my Trading really progressed.
Ultimately, it really is what you can achieve individually with your own brain that matters. There is no obligation at all from you (and rightly so) to ensure others have access to your mind. If others choose to try to replicate by observation then fair enough...but you have no obligation other than to yourself!
  • #346
  • Feb 3, 2017 11:03am Feb 3, 2017 11:03am
Quoting Landline
{quote} OK...the first thing that YOU need to do is to list what YOU think is important in order to make a trading decision (not necessarily what I think). Go ahead and create that list carefully taking into account what you already know. The list should be quite small initially in order to get the conceptual thinking in your mind on what is and isn't important. Thereafter, it can be fine tuned once you have that platform.
First thing to.do is find key areas where price has been halted in the past...eg round numbers half numbers and 20.and 80.levels
  • #347
  • Feb 3, 2017 11:15am Feb 3, 2017 11:15am
Quoting stevepatt
{quote} GBP/JPY M5 Short Trade Result +30 Pips +2R {image}
Steve could it be possible

To remove the halftrend indicator.

And post charts just purely pointing out strutcture and whats happening.
Dont wanna see the trades etc just the analysis.of struture and where MM are involved.
Also could.you show it on higher timeframes like h1 and m15 as well.as the m5 .
Im watching the videos again you recommended a long time ago and i really.would like to learn the basics.and not the add on for trade entry.
I understand what happens to.the trade entry..i want to grasp.what happens b4 that.
Im going to start posting charts to.simply read the chart...no going to.be easy but.will try
  • #348
  • Feb 3, 2017 11:16am Feb 3, 2017 11:16am
Just a thought steve
You.should.do.a video.and just talk thru.what your thinking and seeing on a chart from start to finish and post it.here and in youtube.
That will help a lot to.everyone
  • #349
  • Feb 3, 2017 12:11pm Feb 3, 2017 12:11pm
Quoting devontrader
{quote} First thing to.do is find key areas where price has been halted in the past...eg round numbers half numbers and 20.and 80.levels
The idea here is for you to develop your very own procedure a step at a time. Later steps may well include round numbers in your procedure, but for now for this initial step, you cannot know whether round numbers for example carry any weight because there are many numbers.

You do know however that price is an important factor because it leaves a footprint. Therefore, if we know that price dictates, then what else would you say is important in that respect?
  • #350
  • Feb 3, 2017 4:12pm Feb 3, 2017 4:12pm
Quoting Landline
{quote} The idea here is for you to develop your very own procedure a step at a time. Later steps may well include round numbers in your procedure, but for now for this initial step, you cannot know whether round numbers for example carry any weight because there are many numbers. You do know however that price is an important factor because it leaves a footprint. Therefore, if we know that price dictates, then what else would you say is important in that respect?
Go on tell me
  • #351
  • Feb 4, 2017 12:40am Feb 4, 2017 12:40am
Quoting devontrader
Just a thought steve You.should.do.a video.and just talk thru.what your thinking and seeing on a chart from start to finish and post it.here and in youtube. That will help a lot to.everyone
Hi Jason,

I've tried making videos but I find it difficult to put my thought processes across well in that format.

Make a mistake and I've got to start over again.

Take a look at the Charts below this is as close as I can get to my thought processes.

It comes from all the different information I have absorbed over time and then made work for me.

You will have to do the same, absorb the information but then use it in a way that makes sense to you.

Every day we get a different puzzle to unravel, some days we will succeed and others fail miserably.



Attached Image(s) (click to enlarge)
Click to Enlarge Name: 4th Feb 17 GBP:JPY H1 Observations.png Size: 140 KB
Click to Enlarge Name: 4th Feb 17 GBP:JPY M5 Observations.png Size: 192 KB
  • #352
  • Feb 4, 2017 1:47am Feb 4, 2017 1:47am
Quoting stevepatt
{quote} Hi Jason, I've tried making videos but I find it difficult to put my thought processes across well in that format. Make a mistake and I've got to start over again. Take a look at the Charts below this is as close as I can get to my thought processes. It comes from all the different information I have absorbed over time and then made work for me. You will have to do the same, absorb the information but then use it in a way that makes sense to you. Every day we get a different puzzle to unravel, some days we will succeed and others fail miserably....
Thanyou steve great job....i will study.
I guess one thing in my mind you may or may not be able to answer......
When looking left price seems to find its way to a level to the pip that a wick of a candle has been to b4.
If the anyway or reason we can predict or know how to find these levels?
Im sorry if i not explained that well
  • #353
  • Feb 4, 2017 1:51am Feb 4, 2017 1:51am
Quoting devontrader
{quote} Thanyou steve great job....i will study. I guess one thing in my mind you may or may not be able to answer...... When looking left price seems to find its way to a level to the pip that a wick of a candle has been to b4. If the anyway or reason we can predict or know how to find these levels? Im sorry if i not explained that well

Hi Jason,

Can you show what you mean on a chart, please.
  • #354
  • Feb 4, 2017 7:04am Feb 4, 2017 7:04am
Quoting stevepatt
{quote} Hi Jason, Can you show what you mean on a chart, please.
here you go steve,,,,you see the arrows,,,price came back to the exact pip and it happens alot in the charts
is it acase of ICT?
Attached Image (click to enlarge)
Click to Enlarge Name: steve.JPG Size: 203 KB
  • #355
  • Feb 4, 2017 9:34am Feb 4, 2017 9:34am
Quoting devontrader
{quote} here you go steve,,,,you see the arrows,,,price came back to the exact pip and it happens alot in the charts is it acase of ICT? {image}
Hi Jason,

The Market is constantly looking for Orders to be filled.

In this particular case Sell Orders only went to 139.13 so this was the limit of the PullBack .

There is no way, that I am aware of, for us to be able to see the Depth of the Buying and Selling within the Book.

What we can look for is what happened on Friday (See second chart below)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 4th Feb 17 GBP:JPY H1 Observations 2.png Size: 236 KB
Click to Enlarge Name: 4th Feb 17 GBP:JPY H1 Observations 3.png Size: 126 KB
  • #356
  • Feb 4, 2017 10:41am Feb 4, 2017 10:41am
Quoting stevepatt
{quote} Hi Jason, The Market is constantly looking for Orders to be filled. In this particular case Sell Orders only went to 139.13 so this was the limit of the PullBack . There is no way, that I am aware of, for us to be able to see the Depth of the Buying and Selling within the Book. What we can look for is what happened on Friday (See second chart below) {image} {image}
Steve simply fantastic charts
You make it look so easy lol

What is the idea of your golden zones...i know there between 20 and 80 levels but in what way are they helping you
  • #357
  • Feb 4, 2017 11:52am Feb 4, 2017 11:52am
Quoting devontrader
{quote} Steve simply fantastic charts You make it look so easy lol What is the idea of your golden zones...i know there between 20 and 80 levels but in what way are they helping you

Hi Jason,

It is easy in hindsight the difficulty is in Trading it going forward.

Trading can be made as easy or as difficult as we want to make it.

Having knowledge of how the Markets work is, of course, a good thing but don't get too caught up in the mechanics.

This is why I simplified things by using the HalfTrend Indicator to give me my Trade Bias Long or Short.

Wait for the PullBack and enter after an Engulfing Candle - Inside Candle - Pin Bar and if there is enough "Free Space" to Trade into.
Attached Image (click to enlarge)
Click to Enlarge Name: 4th Feb 17 GBP:JPY M5 Observations 2.png Size: 143 KB
  • #358
  • Feb 4, 2017 2:29pm Feb 4, 2017 2:29pm
Quoting stevepatt
{quote} Hi Jason, It is easy in hindsight the difficulty is in Trading it going forward. Trading can be made as easy or as difficult as we want to make it. Having knowledge of how the Markets work is, of course, a good thing but don't get too caught up in the mechanics. This is why I simplified things by using the HalfTrend Indicator to give me my Trade Bias Long or Short. Wait for the PullBack and enter after an Engulfing Candle - Inside Candle - Pin Bar and if there is enough "Free Space" to Trade into. {image}
here is my m5 and h1 chart
im working on understanding how to read the charts so i can clean mine up more
but here is a start
Attached Image(s) (click to enlarge)
Click to Enlarge Name: steve M5.JPG Size: 227 KB
Click to Enlarge Name: steve H1.JPG Size: 261 KB
  • #359
  • Feb 4, 2017 2:53pm Feb 4, 2017 2:53pm
removed a couple indys
this is what i see
Attached Image (click to enlarge)
Click to Enlarge Name: steve levels.JPG Size: 279 KB
  • #360
  • Feb 5, 2017 1:30pm Feb 5, 2017 1:30pm
Quoting stevepatt
{quote} Hi Jason, It is easy in hindsight the difficulty is in Trading it going forward. Trading can be made as easy or as difficult as we want to make it. Having knowledge of how the Markets work is, of course, a good thing but don't get too caught up in the mechanics. This is why I simplified things by using the HalfTrend Indicator to give me my Trade Bias Long or Short. Wait for the PullBack and enter after an Engulfing Candle - Inside Candle - Pin Bar and if there is enough "Free Space" to Trade into. {image}
Steve,
Are you using amplitude settings of 4 for M5 TF?

Thank you.
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