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Flying Dutchman

  • #5,061
  • Feb 8, 2023 7:01pm Feb 8, 2023 7:01pm
Quoting Shabs19
{quote} Can't beat Round Numbers with MS
How about ROUND TOP and ROUND BOTTOM?
Success = Practice + Patience + Persistence
  • #5,062
  • Feb 8, 2023 10:51pm Feb 8, 2023 10:51pm
Quoting TimeTells
Hi folks, I could talk all day about Lines as I love them. A lot of discusions then MUST imho revert back to the relevancy of such/any Lines. Some will discount Lines completely as a form of voodoo (NOT me, lol) and some will Live Or Die by them (not me also, lol). So what value then would Lines be, say to newcomer to Trading? I would only ask a newcomer to spend time "viewing" what the market THEN DOES around their Lines. As some Lines will wonderefully THEN attract two traders, BOTH a Buyer AND a Seller (yep both, doing an opposite trade at the...
Hi TimeTells,

Well said.

since you mentioned GJ, here is this week measurements with crazier lines. lol

Horizontal (price) Vertical (time) Diagonal (angles)

Attached Image (click to enlarge)
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cheers,
"the public is not yet ready for it" W.D. GANN
  • #5,063
  • Feb 9, 2023 12:02am Feb 9, 2023 12:02am
Quoting Kwt4x
{quote}
Hi TimeTells, Well said. since you mentioned GJ, here is this week measurements with crazier lines.
lol Horizontal (price) Vertical (time) Diagonal (angles) {image} cheers,

I love (live for, hahaa) the crazy lines. They speak .


I was writing up another long post (sorry, lol), while preparing for BoE Gov Bailey (UK) saying some nothingess hahaa to Parliament

https://www.forexlive.com/centralban...head-20230209/

And then whoompa the GJ (NOT the GU) moves 100 pips up & down in 3 x 1 minute candles.
AND
Price comes right back to where it started
Hilarious to me, though some will have made OR lost plenty, good fortunes to any playing at the time.

(Almost finished writing)
  • #5,064
  • Feb 9, 2023 12:05am Feb 9, 2023 12:05am
Annotation on this chart follows (soon)

.
Attached Image (click to enlarge)
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  • #5,065
  • Feb 9, 2023 12:07am Feb 9, 2023 12:07am
a - h from chart above, from yesterday


I don’t usually fully annotate, as mine usually end up a whole page of text lol,
but for the sake of an exercise of viewpoint

ANNOTATION,
for what its worth as it is all “now” hindsight,
BUT
was it hindsight to a Trader as it was all happening, and, each can only form their own opinions


a. A Trader observes a WHOPPING GAP at Day Open and surmises the market MUST (will) fill that gap. Another Trader asks, yes the gap will fill, but WHEN as most gaps usually get filled within a couple of hours or so of trading in the same session. If the Gap is not filled immediately a Trader could maybe assume that the Larger Market (LM ie NOT us in retail lol) have some sellers now trapped who are trading back into the gap and the LM could still push the market Long until they maybe tap out some Sellers at their S/L.

b1 & b2. so Price goes back UP to the Day Open (surprise, wink), then flips back and goes off into a seven hour period of inflection (range) between the RNQ158.750 and RN159.000 above. Seven hours of ranging (which could also be tradeable off the boundaries after say the 3rd hour maybe, and 25 pips in are there so we could try and grab 10 pips a couple of times to book some early profit while the market players (ie buyers and sellers) sort themselves out here within all the aggregating (ranging, consolidation, inflection etc etc) by the Larger Market (all just my opinion of course).

c. is the first structure breakout candle on the 1hr (lower tf’s might show earlier but the 1hr is a lock). Me, I can’t trade it right there on just my own simple probability assessment, but maybe the next candle, where

d. price is now off & running (on a fair probability of a breakout following a period of inflection) but still no trade by me yet lol (I’m too conservative these days, but I wasn’t always hahaa) UNTIL

e. so I could trade but NOT at the breaker but after it passes thru the RN159.250 when I could assess it as a higher probability of (not quantitative maths %%%, just a qualitative visual assessment after many years at this) them now running price to the Day Open Line (while the Day Close was, way down back at the GAP) so here a trade could be taken with a higher probability of success imho for a quick 10-12 pips --- hardly worth it, right, maybe, well not to me as these are bread & butter trades as I see them, but again - each to their own.

f. price now blasts thru the Day Open Line as I maybe imagine now many reversal traders jumped in at that Line with sells and the Larger Market (ie not US in retail, but those holding the opposite trade to us on our entry) had aggregated the trades as NOT favouring them yet so they could push the market higher to the 159.750 and form an inflection point again (range on a 5m chart) for two plus hours more with “maybe” more sellers coming in again for the reversal or some adding by averaging down from their first sell at the DO. While, and just ‘maybe’, some new high roller/s come in later at

g. thinking the market MUST now go to the Big RN160.000 and so high roller/s might jump in with 100’s of lots (who knows lol) looking for an “easy” 5 pips to the BigRN. And with the aggregation (all just in my mind, remember) now balancing out or now maybe in a “buy bias” as some original sellers ‘tapped out’ so the Larger Market does NOT grab for the BigRN right here but starts the (balanced aggegration) back down the chart again to “finish its day” RIGHT BACK WHERE IT STARTED at the Day Open Line again.

Amazing Market Mechanics and the type of market behaviour that makes me smile when I wake up in the morning to review what ‘they’ did with the market while I was asleep. I love this stuff lol, let me tell you.

h. The next day, they inflect price around the Day Open again for a while - and then BOOM off to close the Gap.


I am not the kind of risk trader (now) that shoots for the whole damn cabbage patch (ie the 120+ pips boom back to the open gap, but I can often get in there at some point, when a personal probability visual assessment tells me I could reasonably extract some safe’ish pips in there (15 to 25 pips maybe). Day is done.


Market Mechanics, Market Behaviour, Lines, Inflection, FakeNFlips, Structure Breaks etc etc, all the same stuff I notice day after day where there is often a little something left in there for a retail trader to join in on the Larger Market Activity should they wish.
  • #5,066
  • Feb 9, 2023 1:08am Feb 9, 2023 1:08am
Quoting TimeTells
{quote} I love (live for, hahaa) the crazy lines. They speak . I was writing up another long post (sorry, lol), while preparing for BoE Gov Bailey (UK) saying some nothingess hahaa to Parliament https://www.forexlive.com/centralban...head-20230209/ And then whoompa the GJ (NOT the GU) moves 100 pips up & down in 3 x 1 minute candles. AND Price comes right back to where it started Hilarious to me, though some will have made OR lost plenty,...
GJ is famous for these spikes (feasting on SL's), but they never change direction.
that's why trading this crazy pair throughout the years forced me to swing trade more than daytrade or scalp.

cheers,
"the public is not yet ready for it" W.D. GANN
  • #5,067
  • Edited 4:32am Feb 9, 2023 4:01am | Edited 4:32am
Quoting TimeTells
a - h from chart above, from yesterday I don’t usually fully annotate, as mine usually end up a whole page of text lol, but for the sake of an exercise of viewpoint ANNOTATION, for what its worth as it is all “now” hindsight, BUT was it hindsight to a Trader as it was all happening, and, each can only form their own opinions a. A Trader observes a WHOPPING GAP at Day Open and surmises the market MUST (will) fill that gap. Another Trader asks, yes the gap will fill, but WHEN as most gaps usually get filled within a couple of hours or so of...
I look at these huge News candles & ignore them. It's like a huge rock being thrown into a pond. You have no idea what is going to happen next.

So we wait, till it settles, about 30mins after Franky Open.

Franky opens, sweeps below for stops 158.769, then looks for stops above 158.914 as you would do, entice traders to go Long,
Drop back to Open, pull in more Longs before dropping into Asia range.

Picture - Thousand Words.

Attached Image (click to enlarge)
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It never gets easier, you just get better
  • #5,068
  • Feb 9, 2023 5:10am Feb 9, 2023 5:10am
Quoting TimeTells
a - h from chart above, from yesterday I don’t usually fully annotate, as mine usually end up a whole page of text lol, but for the sake of an exercise of viewpoint ANNOTATION, for what its worth as it is all “now” hindsight, BUT was it hindsight to a Trader as it was all happening, and, each can only form their own opinions a. A Trader observes a WHOPPING GAP at Day Open and surmises the market MUST (will) fill that gap. Another Trader asks, yes the gap will fill, but WHEN as most gaps usually get filled within a couple of hours or so of trading...

"Kinell" -more homework for me
every Saint has a past. Every Sinner has a Future
  • #5,069
  • Feb 9, 2023 5:57am Feb 9, 2023 5:57am
With MML P=128

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It never gets easier, you just get better
  • #5,070
  • Feb 9, 2023 6:03am Feb 9, 2023 6:03am
Quoting Shabs19
{quote}
I look at these huge News candles & ignore them. It's like a huge rock being thrown into a pond. You have no idea what is going to happen next.
So we wait, till it settles, about 30mins after Franky Open. Franky opens, sweeps below for stops 158.769, then looks for stops above 158.914 as you would do, entice traders to go Long, Drop back to Open, pull in more Longs before dropping into Asia range. Picture - Thousand Words. {image}

That's great advice yes.

The thing is, the market HAS to tip its hand at some point. It has nowhere to hide. Just deflect our view for a while.

(Movie lol , where's the offer, Hollywood - or Bollywood -- just got too much time on my hands, at times lol. Day is done, worked out fine, back tomorrow)
  • #5,071
  • Feb 9, 2023 6:09am Feb 9, 2023 6:09am
Quoting TimeTells
{quote} That's great advice yes. The thing is, the market HAS to tip its hand at some point. It has nowhere to hide. Just deflect our view for a while. (Movie lol , where's the offer, Hollywood - or Bollywood -- just got too much time on my hands, at times lol. Day is done, worked out fine, back tomorrow)
If you can Dance & Lipsync to Songs, then Bollywood.

Singer is Akon :

Inserted Video


It never gets easier, you just get better
  • #5,072
  • Feb 9, 2023 6:28am Feb 9, 2023 6:28am
The #Algo uses tweets to spike the market now ...

Japan's LDP Is Said To Be Divided If Kishida Seeks BoJ Pivot | Forex Factory




edit: have been for a while
Mark ... Everything you have been told is a LIE
  • #5,073
  • Feb 9, 2023 6:44am Feb 9, 2023 6:44am
Quoting OAPDave
{quote}{image}
Don't need the wavy lines & all the sub-divisions unless you are scalping ,

the horizontal lines seem to occur at similar levels I draw from Market Structure.

The play comes from Market Open mechanics by LP's mostly.

I think the H1 chart looks useful, width of lines around 39 pips, though setting of P might be different for other instruments.

Changed the setting of P= 32 drop to approx 20 pip width ( might be curve- fitting ) :

Attached Image (click to enlarge)
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It never gets easier, you just get better
  • #5,074
  • Feb 9, 2023 6:59am Feb 9, 2023 6:59am
Quoting turnip15
{quote} "Kinell" -more homework for me
Attached Image (click to enlarge)
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It never gets easier, you just get better
  • #5,075
  • Feb 9, 2023 10:55am Feb 9, 2023 10:55am
wrong practice will mislead others

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"the public is not yet ready for it" W.D. GANN
  • #5,076
  • Feb 9, 2023 12:40pm Feb 9, 2023 12:40pm
Quoting Kwt4x
wrong practice will mislead others {image} {image}
Confusing enough just with horizontal lines.
It never gets easier, you just get better
  • #5,077
  • Feb 9, 2023 1:12pm Feb 9, 2023 1:12pm
Quoting fxpider
{quote} How about ROUND TOP and ROUND BOTTOM?
No smut in here please
every Saint has a past. Every Sinner has a Future
  • #5,078
  • Feb 9, 2023 2:15pm Feb 9, 2023 2:15pm
Quoting Kwt4x
{quote}
GJ is famous for these spikes (feasting on SL's), but they never change direction.
that's why trading this crazy pair throughout the years forced me to swing trade more than daytrade or scalp. cheers,

Hi Kwt

Yes, these are the conventional ‘styles’ of trading which we would all implement to some degree.
And I agree with the reasoning for your specific choice within those options.

If I did have to attach a label to my trading I would call it Discretionary Target Trading,
or just Trading.

The industry attaches a label to the GBPJPY pair lol…. “The Dragon” hahaa. And for good reason.
https://www.dailyfx.com/forex/educat...Dragon_js.html

It is not a pair imho a newcomer to trading would play with early in their career, maybe just one of its core Majors might be safer (?).
Either the GBPUSD or the USDJPY.
While there are less volatile pairs again than ‘those two’ Majors for someone who is getting to know the “vagaries” of Forex Currency Trading.


The reason for the GJ 'Dragon' terminology is well earned, I guess.

I have seen GJ do three consecutive days in one ultimate direction - a running grinder, but which can also be interspersed with times of dormancy
ie the sleeping dragon hahaaa, in that it can also just range 50-100 pips for two consecutive days.
And beware the dormant Dragon.

I believe this variability of GJ behaviour sometimes is because It's Majors will being doing their own certain things at certain times.
eg if USDJPY and GBPUSD are both rising on a chart at the same time (or vice versa) then the Yen is either “out or in” demand as it were and the GBPJPY can fly high or low more quickly than usual.

Conversely if the USDJPY and GBPUSD are moving in ‘opposite’ directions on the Chart at the same time then the GBPJPY can be more dormant or range bound for the period of current activity of its Majors.

So.
When I trade GJ I do not like to be in the market for too long timewise at any point as it can flip & frustrate an already existing trade (depending on the UJ & GU).


These two trades below I took yesterday during the Franky & London openings were both taken as just discretionary trades (ie no different to each other at their beginning) yet one played out as a scalp and the other more closer to a Swing Target trade I guess.

When "going in" though I was only focused on current price behaviour (in my own mind, that is) rather than any style of trading if you know what I mean.
It is what it is in the end (either a winner or loser, or BE).

Today it’s the close of the trading week for currency traders, wishing all well, trade safe.

(ps believe it or not, this post started out as a real short one hahaa, sorry again folks)


.
Attached Image (click to enlarge)
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  • #5,079
  • Edited 3:45pm Feb 9, 2023 3:34pm | Edited 3:45pm
Quoting TimeTells
{quote} I believe this variability of GJ behaviour sometimes is because It's Majors will being doing their own certain things at certain times. eg if USDJPY and GBPUSD are both rising on a chart at the same time (or vice versa) then the Yen is either “out or in” demand as it were and the GBPJPY can fly high or low more quickly than usual. Conversely if the USDJPY and GBPUSD are moving in ‘opposite’ directions on the Chart at the same time then the GBPJPY can be more dormant or range bound for the period of current activity of its Majors....
GBPJPY is a cross currency pair derived from the direct valuation of GBPUSD vs USDJPY.

If a currency does not have USD in the pair, it is "derived". So the same is for EURJPY, AUDJPY, CHFJPY etc.

So trading these pairs, I would always look at how USDJPY is behaving, to determine whether a GJ trade is a good option. Better still trade the UJ as it's a

major pair, so spreads are better than GJ and more well behaved than GJ . Of course you lose out on ADR for the lack of volatility.

I really don't see the benefit of MML, Gann Squares, Diagonals, Boxes etc. For me, it hides all the price action and market structure which I need.

I think what you are trying to show is the forecasting ability of Gann indicators, but again which level, diagonal, box is correct / important to watch ?

Question is : Do you sit with pending orders at these levels or wait for a reaction then enter ?

If it is the latter, then it's no better than what I have already.

If it is the former, then hey ho, are we into Prediction / forecasting territory ?

Edit: @TT If Forex Factory decide to start charging per word posted, they would make some serious money from you ( & me).

It never gets easier, you just get better
  • #5,080
  • Feb 9, 2023 3:49pm Feb 9, 2023 3:49pm
Quoting Shabs19
{quote}
GBPJPY is a cross currency pair derived from the direct valuation of GBPUSD vs USDJPY. If a currency does not have USD in the pair, it is "derived".

Edit: @TT If Forex Factory decide to start charging per word posted, they would make some serious money from you ( & me).

Spot on Shabs

And FF charge me . Lol. I want a payment per letter
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