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Flying Dutchman

  • #4,061
  • Oct 30, 2022 11:09pm Oct 30, 2022 11:09pm
Food for thought.... Larry Williams a Legendary trader to say the least...
Anyways a few slides from Larry here on SP500/SPX and DJIA/US30

Today is the 21st trading day of October. And then the first trading day of November...

What will happen ??? Not sure lets see the cards start to show and make a decision....

Slides taken from his latest video...

Inserted Video


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Master your Mind,,,Master the Market
  • #4,062
  • Edited Oct 31, 2022 12:41am Oct 30, 2022 11:47pm | Edited Oct 31, 2022 12:41am
Very good setup couple of hours after Tokyo Open. 20 odd pips. I am just trying to take trades off the 50 or 00 RN. What i have learnt after some poor trades is that if we are able to understand after or around market opens (Tokyo, London and NY) whether there is a reversal or continuation at RNs then 99% of the time we can take minimum 10 to 15 pips. Its all about RNs and Time. Just have to be patient and wait for setups. For me personally i just had 1 trade last week and it was a winning one. I mean we don't have to predict where price will go but just take a very small piece of the cake. I don't trade big and shut everything off for the day if i have 2 straight losses. Thats just me cos i feel that maybe i am not seeing things well or the setup is just not there. Why I have started doing that is cos it stops me from revenge trade...lol
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  • #4,063
  • Oct 31, 2022 5:24am Oct 31, 2022 5:24am
Quoting TimeTells
{quote} Personally I have no idea where the market will go. But more importsntly it does not matter so much to me. I have an idea, but the market has proven me wrong on many occasions. I am only keen to observe what the Market does. That's what interests me. So I'm happy yes to have areas on my charts, NOT of where I WILL trade, but where I start to take an interest, If the market & other traders take an interest there, so might I. (I smile, I guess when the market plays out sure, sneak in for a little, that's our business). So the Chart in the...
Something you said about price returning to open line etc. I thought this Cable trade was a confident short because of previous gap and propensity of price to come back to open area and HORIZONTAL lines. Worked okay for me this time.
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every Saint has a past. Every Sinner has a Future
  • #4,064
  • Oct 31, 2022 7:50am Oct 31, 2022 7:50am
Quoting turnip15
{quote} Something you said about price returning to open line etc. I thought this Cable trade was a confident short because of previous gap and propensity of price to come back to open area and HORIZONTAL lines. Worked okay for me this time. {image}
Think of the open more as an "equilibrium" point of the current time period.
Mark ... Everything you have been told is a LIE
  • #4,065
  • Oct 31, 2022 6:47pm Oct 31, 2022 6:47pm
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  • #4,066
  • Oct 31, 2022 8:36pm Oct 31, 2022 8:36pm
Quoting TimeTells
{quote}
But no need, the markets are highly organised.
They go somewhere, they can then bust through, and then reverse, then come back & rotate etc. Daily. Repetitively. But NOT an exact replica.

Am I harping on for our new traders, sure, are Market Mechanics a fact of life, sure also.

One & three quarter hours later, our markets do what they always do, have to imho, so a good enough asia.
Just another chart view from above, this time from the 50% fibo perspective (thx failinforex, cheers)


Thing is, this is the first day of a new month.
When will the markets break away from the Month Open and provide some with good profits & others with the dreaded DD.

I expect coming into Franky/London maybe (or just before).
And New York, well write your own ticket on what thay might do there.

.
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  • #4,067
  • Nov 1, 2022 3:33am Nov 1, 2022 3:33am
Here's a 5min GJ
On the 1hr its a looooong Inflection lol.
And tis' the 1st of the new Month
What lies ahead


.
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  • #4,068
  • Nov 1, 2022 7:35am Nov 1, 2022 7:35am
164.900 is the beautiful place to land this month for GJ
  • #4,069
  • Nov 1, 2022 8:20am Nov 1, 2022 8:20am
Quoting TimeTells
Here's a 5min GJ On the 1hr its a looooong Inflection lol. And tis' the 1st of the new Month What lies ahead . {image}
Inflection point started way back 26/10 Really Loooong One. LOL
It never gets easier, you just get better
  • #4,070
  • Nov 1, 2022 9:44am Nov 1, 2022 9:44am
A whole lot of equilibrium going on.
Mark ... Everything you have been told is a LIE
  • #4,071
  • Nov 2, 2022 6:57pm Nov 2, 2022 6:57pm
Quoting TimeTells
Nothing much else to do on Weekends, except some Preparations.

The same Wide Chart is still In Play from above.

Plus a
JPY Bank Holiday,
post-FOMC,
GBP Red Rate News in 10 hours
Lol
Walk the dog, watch a movie,
and keep an eye on the chart hourly probably

all the best for a sleepy Thurs with my pair
  • #4,072
  • Nov 3, 2022 12:22am Nov 3, 2022 12:22am
6½ hrs to GBP bank rates announcement.

(fomc yesterday top left spikey lol)


.
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  • #4,073
  • Nov 3, 2022 12:39am Nov 3, 2022 12:39am
I have been asked by a few traders on here.

About the Maroon line, the Day Open Line (in the chart above).
Is it valid, is it better than the day close, why are MANY of our day open lines at slightly different prices from different broker platforms etc.

Firstly, I do NOT use the Day Open Line for any mathematical calculations. It is visual for me only.
I also have concerns about the day close as that is ONE hour after the official New York close (who ? then is trading on the charts from the big banks).

Look at where the gap was this morning on my chart.
The Day Open is closer, in my eyes, to the NY close (one hour before the official 23:59 close) and not the official close.
The Day Open was also closer to the lower FOMC candle than the day close. Interesting is all.

Does this mean my Day Ope line is better than the Close. NO. It is just what I use visually is all, to see whether they wish to trade above it or below it
(It is NOT a trade signal to do something, ever, in my eyes, but I DO watch it lol and what OTHER traders & the Market might do around it).
  • #4,074
  • Nov 3, 2022 5:35am Nov 3, 2022 5:35am
Quoting TimeTells
I have been asked by a few traders on here. About the Maroon line, the Day Open Line (in the chart above). Is it valid, is it better than the day close, why are MANY of our day open lines at slightly different prices from different broker platforms etc. Firstly, I do NOT use the Day Open Line for any mathematical calculations. It is visual for me only. I also have concerns about the day close as that is ONE hour after the official New York close (who ? then is trading on the charts from the big banks). Look at where the gap was this morning on my...
I look at GJ today's & yesterdays Day Open and also Current Week & Last Week Opens.

Price was held in a range between Today's DO & LWO Look for a break of structure at these levels.
It never gets easier, you just get better
  • #4,075
  • Nov 3, 2022 8:19am Nov 3, 2022 8:19am
Quoting Ihlas
164.900 is the beautiful place to land this month for GJ
MOL revisit
  • #4,076
  • Nov 3, 2022 8:30am Nov 3, 2022 8:30am
USD & JPY Strength , GBP Weakness, JPY Bank Holiday

BOE interest Rate Rise to 3%
It never gets easier, you just get better
  • #4,077
  • Nov 3, 2022 6:41pm Nov 3, 2022 6:41pm
Is the hectic week over yet ?

Nah, we've got the US NFP in about 12 hours lol.


Some early daily horizontals
pre-NFP, just for fun, who knows if Asia will be quiet as a church mouse before Franky/London

(tho they do have to set a Hi-Lo for the session at some point )


.
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  • #4,078
  • Nov 3, 2022 8:45pm Nov 3, 2022 8:45pm
Follow Up Chart
Maybe the High of Asia already, who knows, not me. I just watch.

I don't post any of these charts to try & make trading look easy, as that's just not true at all.
I post them as I believe the market is highly organised. Call it the Market Mechanics & Market Behaviours.


It's all a battle about us vs us in the end I believe,
as the Market Game is usually to shake us out of our trades, that's all.

I mean by that, the shake-out is In Between their Main Mission, which is Targets either above or below current price. Some close - some far, far away.

And again, targets are not one directional, ie the market does NOT have to reverse at a target,
it can blow straight through to a next target, and to a next. We've all seen this.

All we (I) can do imho is to observe what other Traders & the Market do. Going to, from and around Targets.

And you can have your OWN targets, not mine,
the market doesn't care for you or me, or ours.

But it is how we view the market and its operations that counts in the long run.

Good fortunes again, to all, we now have the run-up to Franky/London,
and then, the (always) fun & games of the NFP in New York.

.
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  • #4,079
  • Nov 3, 2022 9:05pm Nov 3, 2022 9:05pm
Quoting TimeTells
Follow Up Chart Maybe the High of Asia already, who knows, not me. I just watch. I don't post any of these charts to try & make trading look easy, as that's just not true at all. I post them as I believe the market is highly organised. Call it the Market Mechanics & Market Behaviours. It's all a battle about us vs us in the end I believe, as the Market Game is usually to shake us out of our trades, that's all. I mean by that, the shake-out is In Between their Main Mission, which is Targets either above or below current price. Some close - some far,...
Well said TimeTells, I mostly try and look for reversals near or around RNs at specific times. I get into trouble when price just smashes through these levels and proceeds to next target without reversing. I have read nearly all your posts and the ability you have in reading what other traders are doing by watching charts is next level. I have no clue on what or how to see what other traders are doing..lol. Once we are able to see or read through charts what the big players are doing then its like i said is next level. All about targets. No one knows which one will be hit first, the one above or below the price. I was watching the GBP/YEN at Europe open yesterday and from Frankfurt open it rejected the 168 RN and went all the way to 167RN with little peaks and valleys. After that it was in a range of 30 odd pips for over 2 hours. As usual i saw this after it happened and didn't place any trade. Trade Well All.
  • #4,080
  • Nov 3, 2022 10:00pm Nov 3, 2022 10:00pm
Quoting whitesta
{quote}
I mostly try and look for reversals near or around RNs at specific times.
I get into trouble when price just smashes through these levelsand proceeds to next target without reversing.
I have no clue on what or how to see what other traders are doing..lol.
As usual i saw this after it happened and didn't place any trade. Trade Well All.

Hi Whitesta,

Where you look for your trades is terrific & clinical for the purpose of your own trades. There is no question in my mind, keep at it.
By clinical I mean slightly bound in their strictness, BUT WHY NOT, you have great success there and have shown imho many terrific trades.

By changing you might introduce a next level past clarity, maybe, BUT also might bring with it its own trading disturbances as well. That's our life as traders.

The trading game in the end, as Kev pointed out a long while back,
ONCE we comprehend & visualise the repeating Market Mechanics & Behaviours,
is and can ONLY be the next game for ourselves, which is Us vs Us

(which is the hardest of all the games imo, as, and which PeterCaleb wrote so well early in his own thread is,
we can ONLY bring to the market as Traders what we bring of ourselves from our own actual life outside of trading
ie we all bring with us all our problems into Trading. There lies our next clue).

Anyway, I will stop that line of thought as a lot don't like this type of discussion,
(they maybe wish for an indi & a method as that will surely bring unlimited success hahaa, just j/k )


The second point you raise W,
"I have no clue on what or how to see what other traders are doing..lol."

is just patience in the end, and is STILL my toughest battle in this game.
ie if we can just wait to see how the market responds to what other traders do then we may lift the veil & see what is next, maybe.

The downside there with unlimited patience is we HAVE to then forgo the first 10-15 pips (of profit), waiting for the real move to occur,
or in the worst scenario MISS the whole trade itself as price runs away from us. So be it.

The upside is we may have missed out on getting trapped in a fake'n'flip etc which the market wants from us, to be trapped
In fact imho the market wants to trap BOTH buyers & sellers for as long as they can - varying styles of traders in varying ranges
so that some traders add to their losing trades and others cash out early on their winning trades - all a market game imho.

All the best, W, from a distance you are doing well. Some days I rue my own trades, or missed trades, believe me.
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