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Flying Dutchman

  • #6,941
  • Mar 19, 2023 10:42pm Mar 19, 2023 10:42pm
Quoting whitesta
{quote} And so GBP/JPY continues to hunt targets below DOL. A lot of patience is needed before we jump in. Thats why RN and Time is very important. Its extremely hard to pick tops and bottoms of any trend. Even divergence on different indis don't work all the time. Its ok to get in a bit late i guess. At least there is a better probability when the run to the target is confirmed. Not 100% but with better probability. That is the reason we wait atleast half an hour to maybe 2 hours after session open(s) to see momentum. Just now if you look at GBP/JPY...

Spot on imho Whitesta.
We assess & indentify Market as it happens. We learn.
We then think like a Trader. Not like an EA or machine.

(I'm not saying EA or bot machines don't work,)
but saying WHERE do WE learn then to be an individual,
Trader can then take that knowledge to all pairs, all instruments, all Markets, all Life. Transferable skills.
You are seeing it imo W, well done.
And YOUR own way will always be best for the you.


(ps I see they got to within 6 pips of the gap and reversed lol, aggregating no doubt, can't see their book so who knows when, but I'm out now).
  • #6,942
  • Mar 19, 2023 10:43pm Mar 19, 2023 10:43pm
Quoting bluesteele
{quote}
Well done as always Pete ! As regular as Metamucil Banging them out day after day..week after week !!!

Hahaaa, cheers Kev. I learn something extra each day and from a lot of the posters on here believe me.
  • #6,943
  • Mar 19, 2023 10:56pm Mar 19, 2023 10:56pm
Quoting TimeTells
{quote} Spot on imho Whitesta. We assess & indentify Market as it happens. We learn. We then think like a Trader. Not like an EA or machine. (I'm not saying EA or bot machines don't work,) but saying WHERE do WE learn then to be an individual, Trader can then take that knowledge to all pairs, all instruments, all Markets, all Life. Transferable skills. You are seeing it imo W, well done. And YOUR own way will always be best for the you. (ps I see they got to within 6 pips of the gap and reversed lol, aggregating no doubt, can't see their book so...
Bit of manipulation i guess..are we seeing double bottom on 15 mins time frame..Maybe have to wait till Franky.
  • #6,944
  • Mar 19, 2023 11:08pm Mar 19, 2023 11:08pm
Not traded..Just observations,,,,and how I mark up charts and some of what I use daily......
Nothing magic..no secret sauce..... hmmm one of the things that is always running thru my mind as I am
observing,,,as I am analyzing is "trade from the outside"/"mitigate risk".. Where is the outside ?
Well it can be in numerous areas ..and the GJ gives a good example of this...Frontside backside
levels.. 3 levels of push patterns ..break of market structure...all can be seen as the outside once you see it that is....

BTW my boxes may not be correct in the MT4 they are just on my chart and really of no relevance in this application...
I have different templates for different TFs which affect candle close times in this particular indi....which is why I like the TV
version as it changes no matter the TF and keeps box close the same

Cheers
Blue


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Master your Mind,,,Master the Market
  • #6,945
  • Mar 20, 2023 12:22am Mar 20, 2023 12:22am
The market does what it does, in its own time & own way.
Then there's the repitition factor, which sadly is NOT a pattern (the market sees to that lol ).
But it's quite organised imho.
And then, there's us, Trader.


GJ Opening Gap is now gone I see, and with an emphatic one single candle lol. I would've been disappointed if they did it in any other way

.
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  • #6,946
  • Mar 20, 2023 1:31am Mar 20, 2023 1:31am
Total risk off to start the week...yen driving the markets!!!
  • #6,947
  • Mar 20, 2023 1:55am Mar 20, 2023 1:55am
Quoting ninner
Total risk off to start the week...yen driving the markets!!!

This will be a week for sure. Kev & I chatted yesterday what this UBS/Creidt Suisse event might do to the bigger picture.

We know the SNB have backed the "commercial" lol decision between the two.
AND it is the SNB Chf rate decision also later in the week lol.

And plenty of CBs are meeting on it.
https://www.abc.net.au/news/2023-03-...isse/102118096

The BoJ have come out and said they are fine (Bank Holiday AGAIN in Japan tomorrow )
https://www.forexlive.com/centralban...tion-20230320/

One more card falters and this could be interesting (as an adjective).

GJ just went through the YEARLY PP line 10 pips ago, so will be interesting (yet, again lol) whether it is defended, or abandoned.

I got two days worth out of the GJ pair earlier and will probably just watch it all now, who knows. Maybe tomorrow also, I will make a decision then.

Might just be all smoke & mirrors also lol, I wouldn't put it past the Market Makers lol.

New stuff for me, as I wasn't trading currencies in 2008.
I have SEEN all the charts of course from then lol, but would be interested in a Trader's Persepctive from any who were trading in it back in the GFC.
  • #6,948
  • Mar 20, 2023 2:50am Mar 20, 2023 2:50am
If using LINES, PA & TA makes me a BLIND trader, I would like to remain as BLIND. Meanwhile, my SERENDIPITY with LINES continues for yet another session.


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Success = Practice + Patience + Persistence
  • #6,949
  • Mar 20, 2023 2:55am Mar 20, 2023 2:55am
Quoting TimeTells
{quote} I have SEEN all the charts of course from then lol, but would be interested in a Trader's Persepctive from any who were trading in it back in the GFC.
I completely agree with you. This week would be very tricky to trade.
Success = Practice + Patience + Persistence
  • #6,950
  • Mar 20, 2023 3:13am Mar 20, 2023 3:13am
GBY/JPY took most of the targets on its way down. ADR was breached during the Frankfurt session. Short term traders could have made some pips by buying during the Frankfurt session. Looks like the price will target other Targets below. 159.25 and then 159 maybe next?
  • #6,951
  • Mar 20, 2023 3:16am Mar 20, 2023 3:16am
Quoting whitesta
{quote} Its extremely hard to pick tops and bottoms of any trend.
.

You are absolutely right. We can not trade every TOPS and BOTTOMS, because we don't know the TOPS or BOTTOMS until it is formed in the hindsight. But having a thesis or probable strike zone based on the Previous day's move would somehow work as a filter and could also help to eliminate the guesswork, IMHO.
Success = Practice + Patience + Persistence
  • #6,952
  • Mar 20, 2023 3:41am Mar 20, 2023 3:41am
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Is CAD going to catch up with the COMMDOLL buddies or is it waiting for the CPI number?
Success = Practice + Patience + Persistence
  • #6,953
  • Mar 20, 2023 4:40am Mar 20, 2023 4:40am
Levels drawn last night, I did say it would test Highs before going down (& test Lows if going Up.)

Ps: I didn't use a crystal ball or fancy indicators, just my trusty Horizontal lines & rectangles.

Now where's my invite for the Top Table ...........................................

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It never gets easier, you just get better
  • #6,954
  • Mar 20, 2023 4:50am Mar 20, 2023 4:50am
Scalps off the Dax. Three gains and one small loss
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every Saint has a past. Every Sinner has a Future
  • #6,955
  • Mar 20, 2023 4:55am Mar 20, 2023 4:55am
Didn't trade this but marked up E/J for observation of levels prior to 8am UK time
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every Saint has a past. Every Sinner has a Future
  • #6,956
  • Mar 20, 2023 4:57am Mar 20, 2023 4:57am
Quoting Shabs19
Levels drawn last night, I did say it would test Highs before going down (& test Lows if going Up.) Ps: I didn't use a crystal ball or fancy indicators, just my trusty Horizontal lines & rectangles. Now where's my invite for the Top Table ........................................... {image}
Do you have to wear a Bow Tie
every Saint has a past. Every Sinner has a Future
  • #6,957
  • Mar 20, 2023 5:05am Mar 20, 2023 5:05am
Quoting turnip15
{quote} Do you have to wear a Bow Tie
I have been told there is No Top Table ..................

I am disillusioned now ...............................
It never gets easier, you just get better
  • #6,958
  • Mar 20, 2023 5:24am Mar 20, 2023 5:24am
Quoting bluesteele
{image} Really ? TA is to blame for traders failing....Laughable at best....
There is another saying:

"Assumption is the mother of all F*ck UPs"

https://vimeo.com/61340790
It never gets easier, you just get better
  • #6,959
  • Mar 20, 2023 5:30am Mar 20, 2023 5:30am
Just caught up with the latest posts
Lots of really good posts packed with solid trading information
post after post of really interesting thoughts ,ideas and examples
what more could anyone want from a thread
but
Then up pops
Mork & Mindy
  • #6,960
  • Mar 20, 2023 5:34am Mar 20, 2023 5:34am
https://www.youtube.com/live/-Ll4dQBkEwQ?feature=share

Watched it earlier today, thought sharing it here.
on a postive roll...
43 traders viewing now, 1 is registered:
GreatDee