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Flying Dutchman

  • #5,121
  • Edited 4:07am Feb 11, 2023 3:44am | Edited 4:07am
https://www.psychologytoday.com/gb/b...cting-patterns
It never gets easier, you just get better
  • #5,122
  • Feb 11, 2023 5:39am Feb 11, 2023 5:39am
Hi Dave

Thankyou for the monthly chart.
Yes these 2 charts below.
H4 is a guide chart with monthly measurements.
H1 with weekly measurements for the week.
These 2 charts show important levels and important angles.
3rd chart with bands 48 and zigzag 12 setting. Its the main chart I view every day.






I
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  • #5,123
  • Feb 11, 2023 6:08am Feb 11, 2023 6:08am
Quoting ianlikesgolf
Hi Dave Thankyou for the monthly chart. Yes these 2 charts below. H4 is a guide chart with monthly measurements. H1 with weekly measurements for the week. These 2 charts show important levels and important angles. 3rd chart with bands 48 and zigzag 12 setting. Its the main chart I view every day. I {image} {image} {image}
Hi Ian
You will not get any (likes) for your Charts or effort
but I think they deserve at least a 3 from me


ps
Wish I had Kwt4x
Knowledge and Ability
  • #5,124
  • Feb 11, 2023 7:29am Feb 11, 2023 7:29am
Quoting Shabs19
{quote} It's the manipulation not only by CB's but also by MM's that give us the volatility. Otherwise nothing would move. There has to be traders taking the wrong direction, just have to be thinking like the MM's.
In regards to volatility, I prefer a storm (at least we know what is coming and most importantly When) over an earthquake (unscheduled news release, frequently done by BOJ).
Success = Practice + Patience + Persistence
  • #5,125
  • Feb 11, 2023 7:58am Feb 11, 2023 7:58am
Quoting newhope
{quote} Hi, even top/bottom using stoch does not work ... so, what must to do ???
Instead of PICKING a TOP/BOTTOM with the help of a magic indicator, pay attention to the TOP/BOTTOM of a STRUCTURE ( prev week, Day, Session, consolidation area, etc) and consider the TOP/BOTTOM as a LEVEL instead of a specific price point. You must also have a thesis formed already, and wait for the PA and TIME to prove your thesis right once the price is in the ZONE of your play.

Well, after all of these, the trade still can go wrong. And, there comes your RISK MANAGEMENT.

Cheers
Success = Practice + Patience + Persistence
  • #5,126
  • Feb 11, 2023 9:35am Feb 11, 2023 9:35am
Quoting OAPDave
{quote} Hi Ian You will not get any (likes) for your Charts or effort but I think they deserve at least a 3 from me ps Wish I had Kwt4x Knowledge and Ability
Hi Dave

Thank you for your post.
A big thank you to my teacher who has taught me how to make them.
I have to apply myself much more seriously and not get distracted.

I was taught to see the behaviour with my eyes. To train my eyes to see it and dont analyze it.
Sideways, Trend, Sideways, Trend. Higher high, higher low. Or Lower high , Lower low.
Put the bands on only on a chart and learn the behaviour.
Put the zigzag on only on a chart and learn its behaviour.
Then sync them together.
I still do this every day.


ps
I believe OT is a very kind, experienced trader. He loves to teach trading.
  • #5,127
  • Feb 11, 2023 5:20pm Feb 11, 2023 5:20pm
Quoting ianlikesgolf
Hi Dave Thankyou for the monthly chart. Yes these 2 charts below. H4 is a guide chart with monthly measurements. H1 with weekly measurements for the week. These 2 charts show important levels and important angles. 3rd chart with bands 48 and zigzag 12 setting. Its the main chart I view every day. I {image} {image} {image}

Hi Ian,

Keep up the interesting work sir.
Your communication style is never tainted with any implied bitterness towards others, or a Trading Subject, just an appreciation of any learning process.
Thank you.


But while I have a very healthy respect of the Zig Zag occurance, I do NOT about the zig-zag indicators (for reasons many users of that indi would understand).

fxpider imho put up a good post here in relation to visual highs & lows and tops & bottoms without the aid of an indi (such as zig-zag)

https://www.forexfactory.com/thread/...0#post14322610


So can I ask Ian, in the FIRST chart you posted from the post link above, - the 4HR GJ
WHY you have selected the 8/8 and 0/8 points
(I assume without loooking yet that they may have been wicks on a candle chart that don't show up on line charts).


Those points (tops & bottoms) are often part of the Market Mechanics I see each day that operate across all pairs intra-day, weekly & monthly so can be tailored by a trader to the Sessions they are trading in. For example what happens in the New York Session is not traded by me, as I am asleep lol, BUT what happens in NY does form the Morning Asia starting setup for me which I can work from in the following day.

Do you hand draw your 8/8 and 0/8
or did you use a specific indicator for that purpose ?


Myself I visually & functionally assess the market "in each moment", while also watching Quarters and Round Numbers but only as "Observation Lines" NOT as Trade Lines as I only trade based on the market response afterwards, "around" any price impact areas and structure lines.

With the Quarters (eg 250/ 500/ 750) I also observe that on many occasions the Market (miraculously lol wink) will often move to the 50% point in between the Quarters. And then just SIT around there, which I assess it then as a rotation point attempting to attract buyers & sellers in (for the Larger Market, and hopefully for them at the SAME time) to choose a trade direction towards above or below price. And therefore get the market 'moving again' in some running direction.


Shabs mentions this point very well in his prior post here.

Quoting Shabs19
{quote}
It's the manipulation not only by CB's but also by MM's that give us the volatility. Otherwise nothing would move. There has to be traders taking the wrong direction, just have to be thinking like the MM's.

Back to the quarters & RNs.

The 50% point "in-between the quarters" is of course, and by definition, an eighth of a Round number (cheers Kwt) like 1.00000 so it might be that many of us at some point are thinking or using, OR JUST WATCHING, similar areas based on our own specific charts.

The RNs are price based and not adjustable.
Zig-zags are always defined based on arbitrary, ie user selected, recent hi's & lo's
which is why I ask

"what prompted you to place the 8/8 & 0/8 at THOSE places on your 4hr chart".
ie did you choose yourself or did a specific indicator choose for you."

Thank you for your open conversations Ian which may well help new or other traders.
cheers
Pete
  • #5,128
  • Feb 11, 2023 6:23pm Feb 11, 2023 6:23pm
Quoting ianlikesgolf
{quote}
I was taught to see the behaviour with my eyes.
  • #5,129
  • Feb 11, 2023 6:56pm Feb 11, 2023 6:56pm
Quoting TimeTells
{quote}
The BEST indicator, or Should I say " The must-have skill" from a trader's perspective?
Success = Practice + Patience + Persistence
  • #5,130
  • Feb 11, 2023 10:46pm Feb 11, 2023 10:46pm
Quoting TimeTells
{quote} Hi Ian, Keep up the interesting work sir. Your communication style is never tainted with any implied bitterness towards others, or a Trading Subject, just an appreciation of any learning process. Thank you. But while I have a very healthy respect of the Zig Zag occurance, I do NOT about the zig-zag indicators (for reasons many users of that indi would understand). fxpider imho put up a good post here in relation to visual highs & lows and tops & bottoms without the aid of an indi (such as zig-zag) https://www.forexfactory.com/thread/...0#post14322610...
Nice post and thank you Ian.
  • #5,131
  • Feb 12, 2023 6:21am Feb 12, 2023 6:21am
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It never gets easier, you just get better
  • #5,132
  • Feb 12, 2023 9:47am Feb 12, 2023 9:47am
Hi Pete

Thank you for your very kind reply. I was encouraged , good communication and harmony with other traders posting. perfect.

On GJ H4 and H1 its hand drawn.

I posted the H4 template for this month.
im sorry i dont have a mindset now to type any more


My brother called me today from Australia .
My oldest brother has terminal cancer.
I wont be posting for a while.
All the best

Ian

Kwt4x was my teacher. Of anything I have posted here
Attached File(s)
File Type: tpl GJ H4 monthly measurements for Feburary.tpl   9 KB | 263 downloads
  • #5,133
  • Edited 11:29am Feb 12, 2023 11:08am | Edited 11:29am
Quoting fxpider
{quote} Instead of PICKING a TOP/BOTTOM with the help of a magic indicator, pay attention to the TOP/BOTTOM of a STRUCTURE ( prev week, Day, Session, consolidation area, etc) and consider the TOP/BOTTOM as a LEVEL instead of a specific price point. You must also have a thesis formed already, and wait for the PA and TIME to prove your thesis right once the price is in the ZONE of your play. Well, after all of these, the trade still can go wrong. And, there comes your RISK MANAGEMENT. Cheers
Thanks a lot matess! Got your message /idea there and at other palace ... but just think that every thing needs a filter, because it does not wrok at avery signal ... is there any other clue how to pick which one is the real signal, and which one is not ??? even using big TF like H4 (ind W1) for long time waiting, it can be worst if no clue how to choose which signal is real, and which is not (because the DD will be very very big .... ... ) ...time for me to take a rest, have a good dream guys ... ... see your next week ...
  • #5,134
  • Feb 12, 2023 5:05pm Feb 12, 2023 5:05pm
Quoting ianlikesgolf
Hi Pete Thank you for your very kind reply. I was encouraged , good communication and harmony with other traders posting. perfect. On GJ H4 and H1 its hand drawn. I posted the H4 template for this month. im sorry i dont have a mindset now to type any more My brother called me today from Australia . My oldest brother has terminal cancer. I wont be posting for a while. All the best Ian Kwt4x was my teacher. Of anything I have posted here {file}

Wishing you & your family well Ian
  • #5,135
  • Feb 12, 2023 5:23pm Feb 12, 2023 5:23pm
Quoting Shabs19
{image} {image}


There it is, cheers.

Shab's Top chart, with some well established Market Mechanics & Behaviours

2nd chart, annotations included ON the chart to explain those particular mechanics happening in a real life situation.


No two live situations will likely be the same (ie patternised perfectly).
But the procedure of price movement MUST be the same functionally over the course of structure & structure breaks up and down & sideways.

New traders imho should work to find those place(s) on a chart that they can get to know well (and spot), for trading.

And maybe ONLY then, if they wish, throw an indi on top of it, afterwards.

Many traders are shown to lay the indi down first
not after they understand the mechanicss,
while then the indi, unfortunately, "may" mesmerize the trader, rather than merely aid the trader, if you know what I mean.
Once you see the market mechanics it can't be unseen.
  • #5,136
  • Feb 12, 2023 6:51pm Feb 12, 2023 6:51pm
Quoting newhope
{quote}
Thanks a lot matess! Got your message /idea there and at other palace ... but just think that every thing needs a filter, because it does not wrok at avery signal
... is there any other clue how to pick which one is the real signal, and which one is not ??? even using big TF like H4 (ind W1) for long time waiting, it can be worst if no clue how to choose which signal is real, and which is not (because the DD will be very very big .... ... ) ...time for me to take a rest, have a good dream guys...

Hi NewH,

Imho the biggest issue with any trader is why (again imho only) are you wanting to trade just from a signal in forex currency trading.
We have no collective orderbook to know who is doing what and at what levels of lots etc, none, tick activity is cute but not definitive.

If we use our eyes, then it is not then just a matter of what "signal" may be real or not.

It is BEST imo when we observe WHAT the Larger Market DOES after any "signals" (ie the multiple traders PLUS the MMs and LPs).

In my eyes whatever "signal" you utilise in currency trading to trade, should be the RESPONSE of the market afterwards.
That is our greatest CLUE, else we are just guessing rather than using probabilities.


for example
(but each Trader to their own best assessment, of course)

Quoting TimeTells
{quote}
Myself I visually & functionally assess the market "in each moment", while also watching Quarters and Round Numbers but only as "Observation Lines",
NOT as Trade Lines as I only trade based on the market response afterwards, "around" any price impact areas and structure lines.


My view is the Market HAS to tip its hand at some point, maybe after a Fake N Flip or shakeout or as an immediate directional runner.
If we can anaylse that moment in the 25pip runner does it matter so much if we only get 10-15 pips of that run after it shows itself.

As I say each to their own. And while trying to predict the market can be a fun exercise, for consistency maybe just let the market show the way.

AND use exactly the same principle if choosing to be a 'reversal' trader at the extremes - ie see the Spring/Test/Jump the Creek area on Shabs Wyckoff chart above

Quoting Shabs19
{image} {image}


all the best NH
  • #5,137
  • Feb 12, 2023 9:15pm Feb 12, 2023 9:15pm
My perspective of USDJPY, in terms of (CAUSE and EFFECT) & (IMBALACE and REBALACE).

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Success = Practice + Patience + Persistence
  • #5,138
  • Feb 13, 2023 1:06am Feb 13, 2023 1:06am
Simple filtering using the BACK side and the FRONT side of a MOVE.

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Success = Practice + Patience + Persistence
  • #5,139
  • Feb 13, 2023 2:46am Feb 13, 2023 2:46am
UJ trade using the following market mechanics:

  1. RBS
  2. FRONT SIDE of a MOVE
  3. SESSION ROLLOVER PA

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Success = Practice + Patience + Persistence
  • #5,140
  • Feb 13, 2023 3:22am Feb 13, 2023 3:22am
Points win prizes
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every Saint has a past. Every Sinner has a Future
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