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Up and under price pattern

  • #1,321
  • Edited 5:40am Feb 18, 2017 4:17am | Edited 5:40am
Quoting Danielesse87
{quote} Hi maxi! Simply I'm trying to use classic rules (what I have understood at least). On the first chart M30 I saw demand, then I went to lower TF (M5) to find what seems (to me) a good entry point according to upper TF. I'm here to learning so I will appreciate your advices and those of others that would help me. I Know that my comprehension has gaps probably due to a "language barrier" issue. Thanks
Hi, first, i think your english is quite good or mine is also bad :-)
you wrote you thought your entry was good according to the higher TF? No, because you bought between a HH and a LL. That makes no sense (to me). Maybe you thought there where a support in M5 and M30 (it looks so) but the support was broken in M30 and M5. The H and L you marked where no swings, so not right. I dont know for how many pips you go but if you look at the hole movement from 2. Februar, there is no trend just sideway market! So where do you want to begin to read the swings? my advice: dont grab any swings from sideway markets or trade very short term.
(.)(.) think first ...
  • #1,322
  • Feb 18, 2017 4:46am Feb 18, 2017 4:46am
...
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Money is made by sitting, not trading. Jesse L. Livermore
  • #1,323
  • Feb 18, 2017 4:51am Feb 18, 2017 4:51am
Quoting sam69
... {image}
you beat me to it....I see the same
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the cautious seldom err....C
  • #1,324
  • Feb 18, 2017 4:54am Feb 18, 2017 4:54am
Strong support will be tested or break next week on EU
Risk comes from not knowing what you're doing.
  • #1,325
  • Feb 18, 2017 5:03am Feb 18, 2017 5:03am
Quoting sam69
... {image}
and you will realy trade it like this ???
(.)(.) think first ...
  • #1,326
  • Feb 18, 2017 5:10am Feb 18, 2017 5:10am
Sam that is the ultimate QM, and one should actually weight for this entry. But there are other option before price get to that level as well. I include a chart from BATUS where he drew his levels in on GOLD. I can see a possible 3 QM turn points, as far as i understand QM price should stalls a few pips close to above/below the Level on the left to Qualify as a QM . And once price start ZigZag round that point like in the chart Danielesse87 post a would stand back.
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  • #1,327
  • Feb 18, 2017 6:37am Feb 18, 2017 6:37am
Quoting maximumguita
{quote} Hi, first, i think your english is quite good or mine is also bad :-) you wrote you thought your entry was good according to the hiher TF? No, because you bought between a HH and a LL low. That makes no sense (to me). Maybe you thought there where a support in M5 and M30 (it looks so) but the support was broken in M30 and M5. The H and L you marked where no swings, so not right. I dont know for how many pips you go but if you look at the hole movement from 2. Februar, there is no trend just sideway market! So where do you want to begin to...
"According to higher TF" I meant that I was looking for a QM based buy entry (on M5) according to the demand area that I drew on M30 chart.

Anyway, what I really dont' understand is: If you can find QMs on every time frame, why you can't consider whatever swing to identify one of them? Why some swings are significant and others are not instead? You can see the market like a sideway markets in relation to TF but also in relation to zoom in/out do you agree? So, If you look at hole movement from 2 Februar you will see a sideway market but if you look closer price action you could see an uptrend/downtrend, do you agree? See following charts to understand what I mean. Thanks

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  • #1,328
  • Edited 11:48am Feb 18, 2017 8:21am | Edited 11:48am
Quoting Danielesse87
{quote} "According to higher TF" I meant that I was looking for a QM based buy entry (on M5) according to the demand area that I drew on M30 chart. Anyway, what I really dont' understand is: If you can find QMs on every time frame, why you can't consider whatever swing to identify one of them? Why some swings are significant and others are not instead? You can see the market like a sideway markets in relation to TF but also in relation to zoom in/out do you agree? So, If you look at hole movement from 2 Februar you will see a sideway market but...
Yes i agree, in a sideway market is also a trend, thats why i said that i dont know for how many pips you go. if you trade short term like M5 everything is fine. If you have such a big Supply/demand from M30, its better to plan the trade in that TF. The supply/demand you marked was round about 100 pips and your entry in the middle of the zone. Thats why i said "in the middle of nowhere" :-). Also the short term priceaction was short (the Uptrend M30 and M5 you showed in the picture from your last Post was over or for me a new downtrend in these TFs; and look at the strong H4 downcandle before, the strong downcandle in Daily and the doji in weekly). That is the reason that i dont see here any oportunity or an edge for a long. From a psychological view in H4, we had a new high and the next swing wasnt able to reach this high, than the support was broken and retested. so the PA is at the moment short, daily long and weekly long, but the trend overall Daily long (HH LH HH), but weekly and monthly i would say sideway/ short. So how to find out which swings are significant? for me, only swings with a clear trend (HH LH HH or ABC). If this is broken with a LL and followed by a HH than you have your pattern. Entry LL, SL= LL before TP= support/ resistance higher TF.
(.)(.) think first ...
  • #1,329
  • Feb 18, 2017 9:03am Feb 18, 2017 9:03am
Quoting maximumguita
{quote} Yes i agree, in a sideway market is also a trend, thats why i said that i dont know for how many pips you go. if you trade short term like M5 everything is fine. If you have such a big Supply/demand from M30, its better to plan the trade in that TF. The supply/demand you marked was round about 100 pips and your entry in the middle of the zone. Thats why i said "in the middle of nowhere" :-). Also the short term priceaction was short (the Uptrend M30 and M5 you showed in the picture from your last Post was over or for me a new downtrend in...
Thank you for explaination of your thought. However I think that I need to see more charts and trades to obtain a full understanding. I invite all traders to post charts with the highest number of informations about their thougth process and not only a simple charts with EP,SL,TP. It would be really helpful! I will continue to post my charts/trades to get some feedback! Greetings from Italy, have a nice weekend!
  • #1,330
  • Feb 20, 2017 3:32am Feb 20, 2017 3:32am
Hello! On the same chart... short and long chances...could be valid? Any comments? Thanks

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  • #1,331
  • Edited 12:07pm Feb 20, 2017 10:13am | Edited 12:07pm
Quoting Danielesse87
Hello! On the same chart... short and long chances...could be valid? Any comments? Thanks {image} {image}
my view
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wouldnt trade this setup because i dont like the quality. regarding your setup, by looking in the higher TFs, i wouldnt trade it also, because we are 20 hours sideway now and after the long breakout of this range, i wouldnt go short at your point. I dont like the long because i think the bias is short.
The marked short in the picture could be a chance by a break of the support. SL last LH + a fiew pips :-)
(.)(.) think first ...
  • #1,332
  • Feb 20, 2017 11:21am Feb 20, 2017 11:21am
Quoting maximumguita
{quote} my view {image} {image} wouldnt trade this setup because i dont like the quality. regarding your setup, by looking in the higher TFs, i wouldnt trade it also, because we are 20 hours sideway now and after the long breakout of this range, i wouldnt go short. I dont like the long because i think the bias is short. The marked short in the picture could be a chance by a break of the support. SL last LH + a fiew pips :-)
Thank you!
  • #1,333
  • Feb 21, 2017 1:41am Feb 21, 2017 1:41am
What do you think about this one? Greetings

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  • #1,334
  • Edited 2:28pm Feb 21, 2017 9:35am | Edited 2:28pm
Quoting Danielesse87
What do you think about this one? Greetings {image}
attached is a picture of my view. its H1 instead of M30 like yours because the zoom out was to much. The green line is your entry. the big blue line could be a better entry (maybe) for a short. its a little bit like gambling or you have to look at the price action if the price comes in the Supply zone you marked because the price can go much higher. if you look in H4 you will see what i mean. So for me, a good short is much higher but this is a different setup. Your entry is not that bad because it seems that right there is a little resistance from higher TF`s (H4). For me not good enough for a limit order! The 2 yellow lines a resistance right now (maybe) and the blue rectangle cood be a good breakout trade- same like the last one in EU (white line TP for a breakout short). if you go short at your entry (green line or above) i would do TP at the yellow lines. Hope that helps? Note: the Entry at the white line = LL = long, is over, means no second entry!
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sorry to the thread opener if this is off topic regarding to the trading rules off the thread!!!
(.)(.) think first ...
  • #1,335
  • Feb 22, 2017 11:05pm Feb 22, 2017 11:05pm
Hi. my H1 chart of USDJPY, dont ignore the finer detail to the left, they like to hide the turnpoints.
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  • #1,336
  • Feb 22, 2017 11:25pm Feb 22, 2017 11:25pm
My USDJPY chart 1H now setup.
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  • #1,337
  • Feb 22, 2017 11:34pm Feb 22, 2017 11:34pm
And a if a QM fail that level can be the entry of continuation of trend, like on this chart by Quidsey (thank you to him)
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  • #1,338
  • Feb 23, 2017 12:12am Feb 23, 2017 12:12am
possable setup on NZDUSD 2H chart.
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  • #1,339
  • Feb 23, 2017 1:06am Feb 23, 2017 1:06am
how about this to day...

same...?
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i'm ever lose $2000, now time to go grow up
  • #1,340
  • Feb 23, 2017 11:38am Feb 23, 2017 11:38am
Quoting fxsterlingfx
My USDJPY chart 1H now setup. {image}
sorry, but i dont understand your entry. Makes no sense to me. Why do you count your LL as a LL?? I donīt see there a LL
(.)(.) think first ...
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