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Flying Dutchman

  • #4,261
  • Nov 22, 2022 3:32am Nov 22, 2022 3:32am
Quoting bluesteele
{quote} Hi T One more then I have to go.... Heres your FTSE trade setup as per Lauras Roadmap and also a PFL off prev day low and RN 7350.00 This is where drilling down from the 5 to the 1 is helpful..and most likely why Laura recommended trading indices gold oil etc off the 1.. Me I will use the 1 5 and 15 all in conjunction. for various reasons... Anyways to me IMO the safest entry is not the PFL in this situation entry off the 1m per Laura...price and 8 channel has crossed the 200 and more importantly its crossed the London open,,, Nice bullish...
Thanks for the detailed reply. Pennies dropping all over the place
Now to practice etc. and maybe enhancing my Roadmap.
every Saint has a past. Every Sinner has a Future
  • #4,262
  • Edited 4:48am Nov 22, 2022 3:55am | Edited 4:48am
Bluesteele posts
4258
4260
Are 2 of the posts up there with the best I have read for a very long time, in my humble opinion

If you trade
Read these 2 posts over and over again
If you need , print them off and place them close to your trading screen
  • #4,263
  • Nov 22, 2022 5:22am Nov 22, 2022 5:22am
Quoting turnip15
{quote} Thanks for the detailed reply. Pennies dropping all over the place Now to practice etc. and maybe enhancing my Roadmap.
Totally agree, incredible well explained.
Enter Signature
  • #4,264
  • Nov 22, 2022 8:40am Nov 22, 2022 8:40am
Quoting bluesteele
{quote} Hey T ... Some other thoughts are that I think traders are missing out not taking the equity opens into account..They play a HUGE factor... No not everyday...but it is a necessary tool a setup that works great.... Now add some Stacey Burke concepts...Add some ICT simple concepts and you have a something that can be really refined ... And as well the flip side is just simplifying and trading the box with the daily open inc.... Once box completes price generally goes one way..not always but more often than not... hope this helps you...
For the SP500, have not tested this with other major indices, ie; FTSE, TSE, Dax, is to also have the NYSE close of 1600 est on your charts. The close is referenced quite a bit by those who know indices.
Mark ... Everything you have been told is a LIE
  • #4,265
  • Nov 22, 2022 9:12am Nov 22, 2022 9:12am
Quoting bluesteele
{quote} Hey T ...as for the Dax....I have put the 200sma and 8ema channel on my chart... so we have some added context that I know you are familiar with... AS per Lauras Roadmap we are below the 200 and thus looking for a short entry. There is a beauty of a pin hammer off the open and there has been many trades like this I have taken...although I dont like a 20+ pt stop..too much risk for me.. So thats a pass... We have a chance the market will just continue down and maybe we just miss out...But the markets only trend one way off the open 20% of...
Well I never did. Interesting levels all drawn in prior to London Open then watch price. ( Demo charts for this exercise)
15 minute; 5 Minute and 1 Minute
Work in progress
Attached Image(s) (click to enlarge)
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every Saint has a past. Every Sinner has a Future
  • #4,266
  • Nov 22, 2022 9:47am Nov 22, 2022 9:47am
@bluesteele

Last one Bluesteele - honest.

Cable on 15 Minute; 5 Minute and 1 Minute ( Usually look to trade on 5 minute prior to latest volatility!!)
Seems allowing up to 90 minutes meant a good long was initiated plus kept out of earlier whippiness ?
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every Saint has a past. Every Sinner has a Future
  • #4,267
  • Nov 22, 2022 1:35pm Nov 22, 2022 1:35pm
Quoting turnip15
{quote} Well I never did. Interesting levels all drawn in prior to London Open then watch price. ( Demo charts for this exercise) 15 minute; 5 Minute and 1 Minute Work in progress {image} {image} {image}
Possible reasons for the sharp rise and fall of the GER30 (DAX) market today would be the obvious Andrews AN+1.0 (UML) target(s). The exact target depends on the timeframe used, which is a normal and unavoidable ambiguity for such targets.

Actual High today: 14496.15
Weekly AN+1.0 target: 14501.88 (so price shy by -5.73)
Daily AN+1.0 target: 14486.59 (so price over by +9.56)

The (November) Monthly AN+1.0 target: 14543.21 (price shy, so far, by -46.96)
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  • #4,268
  • Nov 22, 2022 3:41pm Nov 22, 2022 3:41pm
I'm purely a currency trader but I love seeing the Indices charts also folks, thank you all.

And I always look at charts in hindsight, mainly for confirmation in my mind of what is or might be going on in the bigger picture, for later use in the now.


I ask myself are our (currency) markets purely a game of speculation (somewhat, I guess).
And by definition then, merely just an ebb and flow of liquidity (of course, that will happen intraday).
While do our markets attract certain players at certain points on our charts (pretty sure they do, lol).

And therefore are our markets always then heading from a somewhere TO a somewhere (looks like it at times to me).
So if thinking that, can we make probablistic profitable trades at times taking advantage of some scenarios, in relation to what has just happened pricewise.
Well I do like to wait for a reaction, after an action, around (many) levels prior to an entry and imho if we keep our heads, profit seems definately possible.

Do we need anything else other than levels, like volumes & averages & mean reversions, which do help other traders.
Maybe, why not, while
It's up to each trader in the end imo, how they perceive the market, how they judge their timing, how they conceptualise what is happening in front of their eyes.

Anyways, another trading day is over and we fire up again for the next

So here's another hindsight chart, with all levels known in advance.
Coincidences maybe , who knows.

I never know who is doing what & where on a chart but when they do something, so might I lol.
Also some George swing targets are right in there lining up nicely also, I don't print them on my charts anymore as I can just see them now.
Not really magic, or then is it
I just called this chart "a coincidence of liquidity"

Trade well, trade safe all.

.
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  • #4,269
  • Edited Nov 23, 2022 3:22am Nov 22, 2022 5:35pm | Edited Nov 23, 2022 3:22am
Quoting TimeTells
I'm purely a currency trader but I love seeing the Indices charts also folks, thank you all. And I always look at charts in hindsight, mainly for confirmation in my mind of what is or might be going on in the bigger picture, for later use in the now.
Simple is always the best way.

Makes for easier decisions, avoiding paralysis analysis.
It never gets easier, you just get better
  • #4,270
  • Nov 23, 2022 12:26am Nov 23, 2022 12:26am
Quoting turnip15
@bluesteele Last one Bluesteele - honest. Cable on 15 Minute; 5 Minute and 1 Minute ( Usually look to trade on 5 minute prior to latest volatility!!) Seems allowing up to 90 minutes meant a good long was initiated plus kept out of earlier whippiness ? {image} {image} {image}

Attached Image (click to enlarge)
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Master your Mind,,,Master the Market
  • #4,271
  • Nov 23, 2022 5:14am Nov 23, 2022 5:14am
Quoting bluesteele
{quote} {image}
Cable this morning and what I saw via the "BOX"
I drew a 15 Minute; 5 Minute and 1 Minute chart.
Showed demo trade off 5 minute and one minute ALBEIT " Laura (Roadmap) and others think 5 minute is better on forex ( depends on volatility maybe but I often favour 5 minute on Forex - when I trade it - and one minute on Indices)
Makes you wait for trading opportunities.
Criticism welcomed
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every Saint has a past. Every Sinner has a Future
  • #4,272
  • Nov 23, 2022 5:50am Nov 23, 2022 5:50am
Quoting turnip15
{quote} Cable this morning and what I saw via the "BOX" I drew a 15 Minute; 5 Minute and 1 Minute chart. Showed demo trade off 5 minute and one minute ALBEIT " Laura (Roadmap) and others think 5 minute is better on forex ( depends on volatility maybe but I often favour 5 minute on Forex - when I trade it - and one minute on Indices) Makes you wait for trading opportunities. Criticism welcomed {image} {image} {image}
Hi turnip
Hope you do not mind,
Just having a look as I do not trade FX
This would be my style of drawing the
UK 8:00 - 9:00 open
Not intruding, just my own thoughts

ps
No Roadmap added
Attached Image(s) (click to enlarge)
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  • #4,273
  • Nov 23, 2022 6:07am Nov 23, 2022 6:07am
Quoting OAPDave
{quote} Hi turnip Hope you do not mind, Just having a look as I do not trade FX This would be my style of drawing the UK 8:00 - 9:00 open Not intruding, just my own thoughts ps No Roadmap added {image} {image}
Hi Dave - you are not intruding
All welcome here. Like spzd, I am moving ideas around until I have a few horizontal lines and ideas I trust. Draw lines/levels before opens then watch and note price reaction to same. Roadmap is key and will always be on the chart whatever other ideas I adopt. Pouring with rain here but the dog is looking at me expecting a walk !
every Saint has a past. Every Sinner has a Future
  • #4,274
  • Nov 23, 2022 6:17am Nov 23, 2022 6:17am
Quoting turnip15
{quote} Hi Dave - you are not intruding All welcome here. Like spzd, I am moving ideas around until I have a few horizontal lines and ideas I trust. Draw lines/levels before opens then watch and note price reaction to same. Roadmap is key and will always be on the chart whatever other ideas I adopt. Pouring with rain here but the dog is looking at me expecting a walk !
Ps
I try to incorporate ADR guesstimates

Attached Image (click to enlarge)
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  • #4,275
  • Nov 23, 2022 8:45am Nov 23, 2022 8:45am
Quoting turnip15
{quote} Cable this morning and what I saw via the "BOX" I drew a 15 Minute; 5 Minute and 1 Minute chart. Showed demo trade off 5 minute and one minute ALBEIT " Laura (Roadmap) and others think 5 minute is better on forex ( depends on volatility maybe but I often favour 5 minute on Forex - when I trade it - and one minute on Indices) Makes you wait for trading opportunities. Criticism welcomed {image} {image} {image}
Trading timeframe is not relevant.

Where you draw your Box is.
It never gets easier, you just get better
  • #4,276
  • Nov 23, 2022 9:50am Nov 23, 2022 9:50am
Quoting Shabs19
{quote} Trading timeframe is not relevant. Where you draw your Box is.
Which in my case is 8am to 9am UK time ?
every Saint has a past. Every Sinner has a Future
  • #4,277
  • Nov 23, 2022 3:31pm Nov 23, 2022 3:31pm
Food for thought.....

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Master your Mind,,,Master the Market
  • #4,278
  • Nov 23, 2022 9:30pm Nov 23, 2022 9:30pm
Last chart for the week.

I love to observe Horizontal Lines (plus I have ma’s as well), and I'm not lying either lol .

There are many Lines that can attract other market participants.
That is the work of any Line Trader observer.

Not ALL Lines are market-attractors, and they do not always at ALL times.
Nice when they are close enough to other confluences though which also attract market traders as well.
Which is probably why I will rarely employ volume these days as imo it is the Lines that often BRING the Liquidity in.

Plus I have asked myself for years who is doing all the supporting and who is doing all the resisting when the age-old S/R lines are mentioned,
and to this day I cannot give myself a definitive answer of who(m).

I asked these questions early on as S/R lines do not support OR resist 100% of the time for their stated use.
When chatting with George over the years, we concluded they are therefore not precise enough for their stated use.
(breaks & retests either direction can verify this)

So any of my lines (S/R?) or otherwise can be either reversals or continuations,
and with Inflection Points at or around those lines then price will likely take off somewhere afterwards.

But.
If they do attract market participation, at or near the lines, and one side are buying & the other side are selling LOL.
Then
Often waiting just to see the strength of battle outcome is enough.

(And being aware of any potential fake ‘n’ flips around and in between to shake some traders out).

Anyway, apart from the (growing) George Swing Targets intra-day,
ALL other (liquidity enhancing?) targets on the chart are known in advance as the day begins.

(you could also put in the .250/.750 RN-Quarters as well if you liked)


Trade well, trade safe.

.
Attached Image (click to enlarge)
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  • #4,279
  • Nov 23, 2022 11:10pm Nov 23, 2022 11:10pm
Quoting turnip15
{quote} Later that day @spzd At some point do you think price will return to the open today ? {image}
Replying to Turnips post here to address the question in a more general manner to others
....Like Pete says we can only be prepared for an interaction AT a level/line etc...
Whether its a DOL HOD LOD HOW LOW BRN QN WQUITY OPEN ETC ETC ETC ...
Then decide what to do...There is no blindly trading off a line .....
Everything with context and confluence thru our own set of RULES and FILTERS....

So will price return to the Open today? Well we dont know until it does and it did today.... Time to apply the tools in your trading toolbox.

Cheers
Blue

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Master your Mind,,,Master the Market
  • #4,280
  • Nov 24, 2022 1:43am Nov 24, 2022 1:43am
Hi @Bluesteele,

After reading some of your posts regarding the box i placed a couple of trades. It worked out well but would really appreciate if you could take a look and give any suggestion. I drew the box from London open to the next hour. (60 minutes box). I used the normal PFL, RN, DOL as my confluences. My target was the RN - 1.19 but i was sure that it would go to the high of the 60 minutes box. The other confluence which i saw it before it happened was the 3 pushes to the downside before the reversal. Was happy that i finally saw it when it was actually forming. Number 3 was where i felt the low of London was formed and high probability that price will not go lower. I waited a little bit for it to close above the RN and DOL before i placed the trade as there seemed to be some momentum. Once it crossed the 200 EMA i placed the second trade. If you could check whether i have drawn the box correctly and if it was a decent trade or just luck..Thanks in advance.
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