{quote} Hi Shabs, I see some great structure trading opportunities in there (and everyday) around your highlighted horizontal price lines & zones The month continuesTrade safe, and trade well folks
It never gets easier, you just get better
- #10,442
- Jul 8, 2024 10:28pm Jul 8, 2024 10:28pm
- Joined Aug 2007 | Status: Trader | 3,199 Posts
first week of July is done, NFP over, UK elections & French elections and, well you get itI will call this chart review though, random repeating coincidences
likely back here in a weeks time
Trade safe, trade well folks
. {image}
Reminds me of times past spent with George and the gang trading GJ and how precise the markets can be........
Haven't traded GJ or any currencies for that matter in a long time....Strictly Crude futures nowadays and nothing else.
Simplify simplify simplify... But I saw Petes post as I do still pop by daily to see what the riff raff is up to.
And thought ahh that chart looks nice...maybe for shits n giggles I open up a GJ chart and have a look see...
I had to chuckle ...Same old same old.
What's on my chart ? Well to borrow a term... Nothing but Market Generated Information/MGI OHLC's
OHLC's of days weeks months session's Opening Ranges and Initial Balance.. The 1hr London Open (IB)
No magic lines just MGI that all traders have...I would encourage traders to have an open mind and think of the
bigger picture when trading...As in what are Larger traders doing ? are they trading in the matrix? Are they trading
from the Inside or Outside ?
Perhaps larger traders...I say in just a broad general term..Perhaps they trade from Opens and closes...Sell the Open
Buy the OPen...Sell the close buy the close..
What could one surmise from the charts I will post below ? MGI/Levels ?
Maybe it helps one person see the market in a different light.. Lord knows there's umpteen different ways to trade
as long as your profitable then hey good on ya....
Anyhow enough dribble heres a couple GJ charts.. Nothing fancy just Opens Highs Lows and CLoses.
Simple MGI that one can use in whatever way they seem fit...Or not ..doesn't really matter now does it
A big Hello to all the Flying dutchmen passengers and crew...Miss ya all and the captain MadDog Moody too !
All the best
Blue
Master your Mind,,,Master the Market
{quote} "A HIGHLY Organized, well executed market..." I like those words...really like those words.... Reminds me of times past spent with George and the gang trading GJ and how precise the markets can be........ Haven't traded GJ or any currencies for that matter in a long time....Strictly Crude futures nowadays and nothing else. Simplify simplify simplify... But I saw Petes post as I do still pop by daily to see what the riff raff is up to.
... no Hidden Targets, Secret Calculations or Mysterious Structures...?!
... as in... even I could do it?
- #10,444
- Jul 9, 2024 9:09am Jul 9, 2024 9:09am
- Joined Sep 2006 | Status: Trader | 10,702 Posts
{quote} "A HIGHLY Organized, well executed market..." I like those words...really like those words.... Reminds me of times past spent with George and the gang trading GJ and how precise the markets can be........ Haven't traded GJ or any currencies for that matter in a long time....Strictly Crude futures nowadays and nothing else. Simplify simplify simplify... But I saw Petes post as I do still pop by daily to see what the riff raff is up to.
every Saint has a past. Every Sinner has a Future
- #10,445
- Jul 9, 2024 9:57am Jul 9, 2024 9:57am
- Joined Aug 2007 | Status: Trader | 3,199 Posts
{quote} "A HIGHLY Organized, well executed market..." I like those words...really like those words.... Reminds me of times past spent with George and the gang trading GJ and how precise the markets can be........ Haven't traded GJ or any currencies for that matter in a long time....Strictly Crude futures nowadays and nothing else. Simplify simplify simplify... But I saw Petes post as I do still pop by daily to see what the riff raff is up to.
Notice yesterdays London Open....I posted the chart as Asia was opening and price was consolidatiung at yesterdays L. Open
Observe what happened after I posted that chart....as noted in this next chart..
Timing Levels Behaviour of Price.... How did Price behave at todays London Opening Level ?
Could one hypothesize a scenario where to go Long or short ? what would need to happen for you to execute?
How about we throw on some Pivot Points...Now I dont really use them.. But traders do use them successfully...
Anyways just observations to get some ideas flowing.
Cheers
Blue
Master your Mind,,,Master the Market
- #10,446
- Jul 9, 2024 1:17pm Jul 9, 2024 1:17pm
- Joined Aug 2006 | Status: Trader | 5,317 Posts
{quote} Highly Organized,,,,Well executed.. Notice yesterdays London Open....I posted the chart as Asia was opening and price was consolidatiung at yesterdays L. Open Observe what happened after I posted that chart....as noted in this next chart.. Timing Levels Behaviour of Price.... How did Price behave at todays London Opening Level ? Could one hypothesize a scenario where to go Long or short ? what would need to happen for you to execute? How about we throw on some Pivot Points...Now I dont really use them.. But traders do use them successfully......
Market Structure into that Chart, reveals more about the current days moves.
Obviously different people watch different levels, Pivots included coinciding with NY Close and London Market testing Day Open also.
PWH & PDH another two levels also being watched.
It never gets easier, you just get better
- #10,447
- Jul 9, 2024 3:49pm Jul 9, 2024 3:49pm
- Joined Aug 2007 | Status: Trader | 3,199 Posts
{quote} I must be having a senior moment, but aren't the 2 charts exactly the same ?
...The second chart same chart with pivots added to it..showing how today's London open lined up with prev days open and with today's pivot..
I actually was going to post yesterday's chart and today's...but somehow got them mixed up
Another thought/idea that I am trying to convey is this.... Larger institution traders..and I say with a broad paint brush.. they aren't looking at structure typically as us retail traders do. But they use levels. OHLC... That are in value areas....
Crude had a great example of this some weeks ago... Was 73.00 I believe.. will dig up my old saved charts. Or easy for someone to scroll back and see..say on a 15m ..
But buyers were strong at the 73 level and every time the market came back to that area..... up she goes... One does not need a chart to trade this... It's only a number "they"are looking at...
GJ charts above are similar...or at least in my eyes... One can use all sorts of tools such as DOM/ market profile..volume profile etc etc or just an understanding of timing levels and behaviour of price... Different strokes is all...
It reminds me of back in the day when I traded from a terminal. Nothing but quotes from the exchange.. we followed price and would be certain prices... Call the broker and have them place the trades... No charts necessary... I guess in some way that has carried over to the way I view the charts. 35 years later
dang time flies.... Anyhoo warm here in Southern British Columbia.. having a bit of brain melt.. funny how I have much more difficulty handling the heat here than when hanging in Mexico??? I digress.....
Cheers fellas!
Master your Mind,,,Master the Market
- #10,448
- Edited 4:47pm Jul 9, 2024 4:35pm | Edited 4:47pm
- Joined Aug 2006 | Status: Trader | 5,317 Posts
It never gets easier, you just get better
- #10,449
- Jul 9, 2024 5:16pm Jul 9, 2024 5:16pm
- Joined Aug 2007 | Status: Trader | 3,199 Posts
{quote} Market Structure can be applied to any timeframe, the HTF often dictate what happens in the LTF The LTF however would allow you to take countertrend trades, where retail traders can maybe have the upperhand sometimes over the institutions & banks that have to place much larger orders without getting bad fills. It is still Tape reading to some extent as you are still relying on the OHLC except in a graphical form, to spot easily accumulation / distribution points where the activity always starts from.
Master your Mind,,,Master the Market
[trích dẫn=bluesteele;14926036]{trích dẫn} [/trích dẫn]
Hi Bluesteele,
Wishing you a nice day with lots of green pips!
I have some questions about the issue: balance between time and price. Can you explain it ?
(According to my understanding: For example, GJ has an ADR of 150p/day, which is 6.25pip/1 hour. So after 8 hours, the ADR = 6.25*8= 50pip, if the market expands > 50pip after 8 hours, it's considered unbalanced? )
Thanks!
Jesse!
[/trích dẫn]Hi Bluesteele,
Wishing you a nice day with lots of green pips!
I have some questions about the issue: balance between time and price. Can you explain it ?
(According to my understanding: For example, GJ has an ADR of 150p/day, which is 6.25pip/1 hour. So after 8 hours, the ADR = 6.25*8= 50pip, if the market expands > 50pip after 8 hours, it's considered unbalanced? )
Thanks!
Jesse!
- #10,451
- Jul 10, 2024 10:05am Jul 10, 2024 10:05am
- Joined Aug 2007 | Status: Trader | 3,199 Posts
[trích dẫn=bluesteele;14926036]{trích dẫn}
old posts that refer to it...
If you see me refer to balance it is in the context of the initial balance of the Open.... Dalton and Steidlmayer have great info on that,,,,although
I use in my own way. The 1hr I.B. for Crude Oil ex 9:00-10:00 Gold 8:20-9:20 Indices 9:30-10:30
and for some extra info...These closing times are what I use on my charts for the daily close..Its also known as Settlement.
And if we consider the markets being fractal... I do also look at Monday/Tues being the Initial Balance for the week... This carries over
into Weeks being the IB for the Month and Months being the IB for the year..... I only really pay attention to Mon Tues.. But at the
beginning and ending of the month I am looking at Where did the prev month open and close...again in the sense of where is the Balance...
Alot more than I can explain in a post as its taken years of study practice etc
so do some digging my friend !Depending on what your asking..you may want to look into GANN for the squaring/balancing of time and price
OR
Look into Dalton Market profile... Initial Balance failed auctions etc....
These are the (old) Pit Open and close times and how I set my Initial Balance when trading any of these...although I have only
been trading Crude this year( a few small exceptions)
For ex:
Australian Dollar: 8:00 am – 3:00 pm
Dollar Index: 8:00 am – 3:00 pm
Coffee 8:00 am – 1:30 pm
Cocoa 8:00 am – 11:50 pm
Copper: 8:10 am – 1:00 pm
Sugar: 8:10 am – 1:30 pm
Euro and other Currency Futures excluding AD (6A): 8:20 am – 3:00 pm
Gold: 8:20 am – 1:30 pm
30-Year Bonds: 8:20 am – 3:00 pm
5-Year Bonds: 8:20 am – 3:00 pm
10-Year Bonds: 8:20 am – 3:00 pm
Silver: 8:25 am – 1:25 pm
Crude oil: 9:00 am – 2:30 pm
Heating oil: 9:00 am – 2:30 pm
Natural Gas: 9:00 am – 2:30 pm
Unleaded: 9:00 am – 2:30 pm
E-Mini S&P 500: 9:30 am – 4:15 pm
E-Mini Nasdaq: 9:30 am – 4:15 pm
E-Mini Dow: 9:30 am – 4:15 pm
Wheat: 9:30 am – 2:15 pm
Soybeans: 9:30 am – 2:15 pm
Corn: 9:30 am – 2:15 pm
All the Best
Blue
Master your Mind,,,Master the Market
- #10,452
- Jul 10, 2024 5:12pm Jul 10, 2024 5:12pm
- Joined Aug 2006 | Status: Trader | 5,317 Posts
[trích dẫn=bluesteele;14926036]{trích dẫn}
There is some connection with seasonality rather than any Math calculations to predict turns, but heyho that's only my humble opinion.
It never gets easier, you just get better
- #10,453
- Jul 10, 2024 7:36pm Jul 10, 2024 7:36pm
- Joined Dec 2018 | Status: Trader | 4,591 Posts
(needs a rewind to beginning somehow hahaa)
Inserted Video
- #10,455
- Jul 11, 2024 6:14pm Jul 11, 2024 6:14pm
- Joined Dec 2018 | Status: Trader | 4,591 Posts
While the Olympic Games are still two weeks away, the Forex Games have their own personal moments.
It's always fascinating for me to wake up in the morning in Aus and check what the market did during the New York session while I sleep.
Trade safe folks, and trade well
.
It's always fascinating for me to wake up in the morning in Aus and check what the market did during the New York session while I sleep.
Trade safe folks, and trade well
.
- #10,456
- Jul 11, 2024 6:40pm Jul 11, 2024 6:40pm
- Joined Dec 2018 | Status: Trader | 4,591 Posts
While the Olympic Games are still two weeks away, the Forex Games have their own personal moments.
And the Gold & Silver go to ....
Looks a fun end to the week coming with both buyers & sellers in a net
.
- #10,457
- Jul 11, 2024 10:33pm Jul 11, 2024 10:33pm
- Joined Nov 2012 | Status: Naked Chart Samurai | 3,472 Posts
{quote} And the Gold & Silver go to ....
The sustainability of the output is a different issue though.
Success = Practice + Patience + Persistence
- #10,458
- Jul 11, 2024 10:51pm Jul 11, 2024 10:51pm
- Joined Dec 2018 | Status: Trader | 4,591 Posts
{quote}The sustainability of the output is a different issue though.
Spot on imo, fxp,
The sustainability is the question.
I would need to see another 300+ pip drop to convince me the move yesterday is genuine
At the moment they must now go through the aggregation process again to see where the balance of buyers & sellers lie and who is strong and/or who holds weak hands and taps out first, all among the “new” entries coming in.
Session by session for me, a waiting game
(while I snagged a quick 31p this morning, with the cue back in the rack now till the Franky-London fire up when I'll look again at the state-of-play)
Trade safe folks
(EDIT: I better put up the trade I mentioned I guess, else. And it's easy for me to see now the weakness in my own trade as it was quite a tricky time to be in the market imo, but I stuck to playing between the structures "as I see them" and I got out when I snagged what I thought could come at the time. There were plenty more opportunities in & around at the time but that's not how I usually trade, just a discretionary scalper at the heart is all
).
- #10,460
- Jul 15, 2024 6:05pm Jul 15, 2024 6:05pm
- Joined Dec 2018 | Status: Trader | 4,591 Posts
Did I trade this, this morning ... NO
My broker still offering 2½ pip spread (24 points) as is typical this time of day.
I usually wait till any yen news is over in about 50 mins but no news today till 5 hrs time
(was ANOTHER LOL bank holiday in the land of the yen yesterday, they do like a break from all their hard banking work )
But the chart below indicates so far (to me. that is) that the common market mechanics will again be in play today.
Trade safe folks, trade well.
.
My broker still offering 2½ pip spread (24 points) as is typical this time of day.
I usually wait till any yen news is over in about 50 mins but no news today till 5 hrs time
(was ANOTHER LOL bank holiday in the land of the yen yesterday
, they do like a break from all their hard banking work )But the chart below indicates so far (to me. that is) that the common market mechanics will again be in play today.
Trade safe folks, trade well.
.
