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My Line in the Sand

  • #441
  • Mar 9, 2017 2:04am Mar 9, 2017 2:04am
Quoting vgyuszko
GJ after news {image} {image}
Hi Vg,

The only way to get into that move yesterday, on a PullBack, would have been by dropping down to the M1 TF.

At the moment GBP/JPY is ranging better to wait for a clear Market move.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 9th Mar 17 GBP:JPY H4 Observations.png Size: 136 KB
Click to Enlarge Name: 9th Mar 17 GBP:JPY M5 Observations.png Size: 162 KB
  • #442
  • Mar 9, 2017 2:31am Mar 9, 2017 2:31am
Quoting stevepatt
{quote} Hi Vg, The only way to get into that move yesterday, on a PullBack, would have been by dropping down to the M1 TF. At the moment GBP/JPY is ranging better to wait for a clear Market move. {image} {image}

GBP/JPY M5 Long Trade

Market broke and closed past H1 Structure entered on PullBack
Attached Image (click to enlarge)
Click to Enlarge Name: 9th Mar 17 GBP:JPY M5 Long Trade.png Size: 127 KB
  • #443
  • Mar 9, 2017 7:24am Mar 9, 2017 7:24am
Quoting stevepatt
{quote} GBP/JPY M5 Long Trade Market broke and closed past H1 Structure entered on PullBack {image}

GBP/JPY M5 Long Trade Result

+30 Pips +2R
Attached Image (click to enlarge)
Click to Enlarge Name: 9th Mar 17 GBP:JPY M5 Long Trade Result.png Size: 153 KB
  • #444
  • Mar 9, 2017 4:38pm Mar 9, 2017 4:38pm
GBP/JPY H1 Observations
Attached Image (click to enlarge)
Click to Enlarge Name: 9th Mar 17 GBP:JPY H1 Observations.png Size: 111 KB
  • #445
  • Mar 12, 2017 4:50am Mar 12, 2017 4:50am
Quoting stevepatt
{quote} GBP/JPY M5 Long Trade Result +30 Pips +2R {image}
finally getting there...
sent u pm
  • #446
  • Mar 12, 2017 7:15pm Mar 12, 2017 7:15pm
Hi Steve strange to see you post a EU chart am I close in my interoperation ?
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD m5 (03-13-2017 0011).png Size: 96 KB
  • #447
  • Mar 13, 2017 2:00am Mar 13, 2017 2:00am
Quoting OAPDave
Hi Steve strange to see you post a EU chart am I close in my interoperation ? {image}

Hi Dave,

Institutions use the .000 Whole Numbers and .500 Half Numbers to place their Limit Orders, they are people of habit, they aren't looking at something that keeps re-setting and moving around.

Whole and Half Numbers are a constant the Orders placed around these Levels act like a magnet.

Who ever has the greatest volume of Orders around these Levels will eventually win the battle, this = Accumulation.

Institutions need someone to take the other side of their Orders (Zero Sum Market)

Once all the Opposing Orders have been consumed the Market moves to the next Level of waiting Limit Orders.

Often not all the Limit Orders get filled, at the first visit, this is why we see the Market return to the same Level multiple times, often.

This is why the Market doesn't go in a straight line but zigzags around hoovering up Orders on it's way.

Take a look at any Chart and you will see how, often, Market moves originate from .000 Whole Numbers and .500 Half Numbers

Attached Image (click to enlarge)
Click to Enlarge Name: 13th Mar 17 GBP:JPY M5 Chart.png Size: 170 KB
  • #448
  • Mar 13, 2017 2:11am Mar 13, 2017 2:11am
Quoting stevepatt
{quote} Hi Dave, Institutions use the .000 Whole Numbers and .500 Half Numbers to place their Limit Orders, they are people of habit, they aren't looking at something that keeps re-setting and moving around. Whole and Half Numbers are a constant the Orders placed around these Levels act like a magnet. Who ever has the greatest volume of Orders around these Levels will eventually win the battle, this = Accumulation. Institutions need someone to take the other side of their Orders (Zero Sum Market) Once all the Opposing Orders have been consumed the...
steve

are you looking at m15 and m5 like a sniper?
  • #449
  • Mar 13, 2017 2:12pm Mar 13, 2017 2:12pm
GBP/JPY M5 Long Trade
Attached Image (click to enlarge)
Click to Enlarge Name: 13th mar 17 GBP:JPY M5 Long Trade.png Size: 122 KB
  • #450
  • Mar 13, 2017 2:48pm Mar 13, 2017 2:48pm
Quoting stevepatt
GBP/JPY M5 Long Trade {image}
steve,,,could you if possible break down your analysis,,,,into small step by step process of what you look at in the chart as soon as you open it up

i want to read it and follow each step on my chart to try and get in your mind set to see what im supposed to be looking at.

im currently on skype if you got 10mins
  • #451
  • Mar 13, 2017 3:32pm Mar 13, 2017 3:32pm
Quoting devontrader
{quote} steve,,,could you if possible break down your analysis,,,,into small step by step process of what you look at in the chart as soon as you open it up i want to read it and follow each step on my chart to try and get in your mind set to see what im supposed to be looking at. im currently on skype if you got 10mins

Hi Jason,

See the charts below.

It's too late in the day really but we will see.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 13th mar 17 GBP:JPY h1 Observations.png Size: 161 KB
Click to Enlarge Name: 13th Mar 17 GBP:JPY M5 Observations.png Size: 154 KB
  • #452
  • Mar 13, 2017 3:46pm Mar 13, 2017 3:46pm
Quoting stevepatt
{quote} Hi Jason, See the charts below. It's too late in the day really but we will see. {image} {image}
steve just a quick picture to what im seeing
black lines are the swing highs
the yellow line is where current price is bouncing off support as per sniper

as price rises to the first black line above the yellow support we have a resistance levelof the .50 level
Attached Image (click to enlarge)
Click to Enlarge Name: steve.JPG Size: 202 KB
  • #453
  • Mar 13, 2017 3:53pm Mar 13, 2017 3:53pm
Hi Steve, my story 25pips late to the party more than once, 1st trade got greedy after 2:1 R/R after being 25pips late to enter, stopped out +3.4, same on 2nd trade but banked 12.5
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY m5 (03-13-2017 2053).png Size: 89 KB
  • #454
  • Mar 13, 2017 4:05pm Mar 13, 2017 4:05pm
you know steve after watching hours of videos you start to learn a few things looking at charts and its amazing what the smart money does
Attached Image (click to enlarge)
Click to Enlarge Name: steve.JPG Size: 123 KB
  • #455
  • Mar 13, 2017 4:11pm Mar 13, 2017 4:11pm
Attached Image (click to enlarge)
Click to Enlarge Name: dave.JPG Size: 196 KB
  • #456
  • Mar 13, 2017 5:19pm Mar 13, 2017 5:19pm
Quoting devontrader
{quote} steve just a quick picture to what im seeing black lines are the swing highs the yellow line is where current price is bouncing off support as per sniper as price rises to the first black line above the yellow support we have a resistance levelof the .50 level {image}

Hi Jason,

Just keep looking at the Market like this and it will soon start to make sense.
  • #457
  • Mar 13, 2017 5:27pm Mar 13, 2017 5:27pm
Quoting stevepatt
{quote} Hi Jason, Just keep looking at the Market like this and it will soon start to make sense.
will do

would really.appreciate a chat to go.over charts to give.me that ultimate confidence boost that im doing it right
  • #458
  • Mar 13, 2017 5:50pm Mar 13, 2017 5:50pm
Quoting OAPDave
Hi Steve, my story 25pips late to the party more than once, 1st trade got greedy after 2:1 R/R after being 25pips late to enter, stopped out +3.4, same on 2nd trade but banked 12.5 {image}

Hi Dave,

I Trade Market Structure and the PA that occurs around Market Structure whilst paying particular attention to .000 Round Numbers / .500 Half Numbers / .200 Numbers and .800 Numbers.

I only use Market Extremes as Targets rather than looking for Market reversals from them.

I wait for Structure and PA before taking a Trade.

Trying to predict Market reversals is not my strong point even when I was using MMLs and Trading Weekly and Monthly Extremes on lower TFs.

After all they are just lines on a chart at the end of the day.
Attached Image (click to enlarge)
Click to Enlarge Name: 13th Mar 17 GBP:JPY H1 Observations 2.png Size: 133 KB
  • #459
  • Mar 13, 2017 5:52pm Mar 13, 2017 5:52pm
Quoting devontrader
{quote} will do would really.appreciate a chat to go.over charts to give.me that ultimate confidence boost that im doing it right

Hi Jason,

There is no right and wrong way to do this just a way that works for you.

You are headed in the right direction I'll just confuse things.
  • #460
  • Mar 14, 2017 2:04am Mar 14, 2017 2:04am
Quoting stevepatt
GBP/JPY M5 Long Trade {image}

GBP/JPY Long Trade Result

(-15 Pips) (-1R)

Not my best Trade entry.

You can see the effect of Market Structure in the Charts below
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 14th Mar 17 GBP:JPY H1 Long Trade Result.png Size: 105 KB
Click to Enlarge Name: 14th Mar 17 GBP:JPY M5 Observations.png Size: 151 KB
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