Dirty DAXing
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| SR/SD and the PA that describes it https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=4899 |
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| Author: | simond [ Wed Sep 14, 2016 9:52 am ] |
| Post subject: | SR/SD and the PA that describes it |
Hello all, I hope this message finds you well. This morning I made my last post on FF (as user simond2002) and hope to make this forum my new home. I was going to go into a long ramble about why I've jumped ship but many of you that have posted at FF in the past will probably already have a pretty good idea of my reasoning. The title of this thread is the method I use to trade the market. It's been serving me well and I'll try and share as much as is reasonably possible. In my own learning, I've made the distinction between support and resistance, and supply and demand. And although at the end of the day, it's all PA, in as much way as heads and tails are all part of the same coin, heads and tails are most definitely distinct in their own significant way, as are SR and SD. Whenever I've tried to explain my trading thoughts in words I've ended up in knots. But that situation ultimately led (in a serendipitous way) to the realisation that this is the issue facing a lot of traders plagued with trying to see the market through others' eyes. The bare basics, the "universals" of price-action tend to be interpreted by those "getting it" as their own subjective form, which they then often try and communicate to others as a "universal" if that makes sense - talking in terms that are truly meaningless. The result is chaos. My view is that it is much more efficient to try and communicate in the universal terms of support and resistance, and supply and demand, and allow those interested to learn this methodology by themselves, a clearer and more level platform to both accomplish their aims and build their own trading vernacular. Working like this also helps me continue my own learning. For the most part, I post setups prior to taking a trade. For the most part, however, I don't post entries. Although if I have posted setups, I may post results. But don't hold me to it! Will be back later with some charts. Bye for now |
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| Author: | MathiasJ [ Wed Sep 14, 2016 9:59 am ] |
| Post subject: | SR/SD and the PA that describes it |
Congratulations and Welcome here! Looking forward to follow you. BR Mathias |
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| Author: | simond [ Wed Sep 14, 2016 10:02 am ] |
| Post subject: | SR/SD and the PA that describes it |
USDJPY Principles of supply and demand tell me that sellers exceeded buyers at that arrow, and the gaps down in price have evidently left unfilled sell orders in situ. Price has returned to that area and the first evidence of bearish whipsawing PA occurring there have already printed. If I see further evidence and some more bearish PA, I'll sell it. |
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| Author: | jal811 [ Wed Sep 14, 2016 10:03 am ] |
| Post subject: | SR/SD and the PA that describes it |
Welcome . Really admire the 'naked' PA traders. Cheers |
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| Author: | simond [ Wed Sep 14, 2016 10:04 am ] |
| Post subject: | SR/SD and the PA that describes it |
Thanks Mathias |
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| Author: | simond [ Wed Sep 14, 2016 10:07 am ] |
| Post subject: | SR/SD and the PA that describes it |
Thanks jal811 |
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| Author: | simond [ Wed Sep 14, 2016 10:39 am ] |
| Post subject: | SR/SD and the PA that describes it |
CADJPY M15 I'll often use trend-lines but only as a secondary view in terms of them offering some expression of how price (that only goes up and down, not sideways) is behaving over time. Something I learned a while back is to not get too attached to anything in trading because the market is a living beast with its own mind, and what one day looks to be the expression of certain behaviour can simply manifest as something else the next day. Yesterday I saw this channel developing and so placed a couple of reference lines in there. Overnight, however, price breached that channel. In one respect we could say that the channel has "failed" etc etc etc. Yet in another respect, we could simply break the channel apart and re-assess. Doing this, what I'm now seeing is price-action forming something I refer to as an "expansion". Essentially the expansion is no different to any other flag - an range of price where either accumulation or distribution plays out as continuation or reversal of some sort. Fancy phrases aside, I'm still really only interested in SR. Will be watching PA as and when price retests those horizontal lines. |
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| Author: | simond [ Wed Sep 14, 2016 2:33 pm ] |
| Post subject: | SR/SD and the PA that describes it |
Dirty DAXing |
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| Author: | simond [ Wed Sep 14, 2016 8:32 pm ] |
| Post subject: | SR/SD and the PA that describes it |
Hopefully some traders got in on this. I missed the entry; caught up looking at other stuff but as we know, we can't catch every trade. |
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| Author: | simond [ Thu Sep 15, 2016 9:22 am ] |
| Post subject: | SR/SD and the PA that describes it |
Bit of follow through on this. Price nestled itself into the lower SR but then closed below that cluster printing a fresh swing low and also leaving a decision point (i.e. the decision to go lower) higher up in price at that blue box. I personally rarely touch trade - even when there's a clear enough reason to do so. Instead I prefer to trade the price-action when price tests these fresh levels. Doing so raises the probability of the trade working out and the RR is still good. This setup played out after midnight here in London. Haven't yet found a way of trading 24/5, and even if I do, it's not going to please the missus. |
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