Flying Dutchman

Caught the TOP right to the pips. (One of those days !!)

One more perfect catch of the TOP. Finally, my stalking of the price has paid off. UJ limit order did not get triggered by 5 pips however, EJ did and the DD was only -4 pips.

An example of market orchestration. And the market is really RANDOM !!! (lol)

Hahaaa, exactly fxp


As I do each morning I like to review what the Larger Market got up to the night before in New York while I was still sleeping.

Anyways, happy 1st of the new month, March.


The chart below shows once again, as I believe, just my thoughts on how the markets we trade in retail operate.
I call them The Market Mechanics back from my days of happily looking & learning all this stuff with George.

The playbook varies, it has to, instance by instance.
But the theme is always the same.

There are new monthly levels now set. Will the larger market run to them, or from them.
We shall see.
Sitting & waiting here, they must show their hand at some point. They can't hide it. It's ON our charts. Read them conscientiously.

Trade safe, trade well.

.

Good that, you mentioned the date. It was completely in my blind spot. Now, I can happily take the ASIA off, and probably the day. I will let them open the monthly book and catch up with my sleep. I hit the bed at 3.30 AM this morning

Cheers!!

Okay, just one last quick one (chart) for the morning.
(I call this one, 'only halfway random' )


Just for contemplation, is all.
Not trading charts top to bottom as I see them, just showing what might be going on in the engine, well imho, that is.


The Maths guys, Kwt, Dave & Ian will get the gist of what I am trying to show here, for folks.

all the best, all

.

Just coincidence I'm sure ...

Hahaa, yep (over & over & over & .. well you get it too )

Hi Dave,

Thank you again for your chart offerings, many on Dutchy will appreciate it I know.


Now, what can I say here, without sending you slightly askew as we have seen prior.
Not my intention.
So let me word this all very safely.


Re your last post & your last chart on GBPUSD 1hr. (edit : that has now dissapeared ?)

I begged Mr Murrey (in my mind lol) to please “remove” the word narratives he placed on his lines (well on THE indi).

We can see where the Line on the bottom chart, the 1hr says
0/8th Ultimate Resistance on that line. While many traders will see that line as being used as Support (NOT resistance).

In fact I have dislodged totally, the words S & R from my trading vocabulary (yes, completely) and have replaced them with, for myself,
“Lines Of Attraction” (attractors of BOTH buyers AND sellers as whoever is stronger at that point will prove the line as either support or resistance afterwards)
ie S & R does NOT ALWAYS exist IN ADVANCE of price and the words S or R.

BUT other traders will be there hopefully, to our advantage, when the Larger Market responds to them imho.

So when I first tried MurreyMaths I was fooled (in my novice innocence at the time) by the Words on the Lines of the Indi (like 0/8th Ultimate Resistance, as in my world the word ULTIMATE has a very powerful meaning & message).

I still pray Mr Murrey takes those words off the indi, just leaving them blank Attractor lines, else many new traders like I was may “lose money” IF believing in the narratives like Ultimate Resistance etc that the indi still shows.

Certainly I mean no offence to you Dave, or the indi, at all, though I have noticed in the past that you can get a little put off & defensive by any such comments by posters HEREm while it is just a discussion for us all, is all.

However, the concept that Murrey employed, from Gann before him I think ?, in relation to the OCTAVES is valid in my eyes indeed.

And has also been shown many times over by the excellent chart’er parisboy over on his own thread for years.

The major first divide of an octave is 4/8ths which on a fibo is the 50% line.
Which you can see ‘to the pip” on my recent chart above (you may have missed it). To the Pip.
https://www.forexfactory.com/thread/...8#post14342188


A Random market. Well each to their own.

The key to my usage of fibos etc then is the Major swings. But imho it is also fractal, as you have shown as well on your charts of varying timeframes.

I use the Quarters that are based on (quarter) PRICES, not the swing tops & bottoms, as I believe many other traders may enter OR exit at such quarter prices
like …. 166.000 …. rather than 159.873 for example, but I can be wrong lol.

The quarters are 250/500/750, and Kev/Bluesteele brought me back to them here on Dutchy with a great post of his a while back. While discussing these Q's one day while we were looking at real-time charts together, how the market having left a quarter say 165.250 might then drop & reverse very close to the halfway between that and the 165.000 ie at the 165.125. The.125 being an Octave of the Round Number (1/8th).

Do I trade my way AS IF those lines (any lines) will MAKE the market do something now (reverse, support, resist, pivot etc).

NO I don’t.

I trade when I determine, by observation, that Traders and then the Larger Market itself Respond to all the trading activity at or around those points.

I was saying to a very good guy this morning, Lekkim, that I operate my trading on Mr Pareto’s principle. 80 VISUAL/20maths.
I do not have any hell bent desire for PRECISION. OR. Accuracy. On my chart reading trading.
They can be an abstraction and/or distraction sometimes, just imho, to what the market is actually doing.

In my Trading. I just want to be trading with the market when it shows me that it could do this direction for a (indeterminate) period of time.

Each to their own. I love your charts Dave, all Charts. I don’t discriminate hahaa. Please take this post in good faith.

Trade well sir.

The first real step toward successful trading is to wake up and acknowledge the problem with your trading is YOU.

Its not the system the method the money mgmt Volume bullshit etc... IT IS YOU !

YOU are what holds YOU back....

Its not whether your math is good...its got nothing to do with Math or Lines or Trends or indicators or Volume ...ZERO !

The problem is YOU...You want to be successful... You want to earn 10k 100k 1million+++ as I have done..trading

Then you start with YOU... I would surmise that most of you know enough about charts markets TA FA etc to be successful...

Yet you search more and more and more for the elusive indicator method system that wont give you WAIT FOR IT PAIN !

How do you react when your trading a 6 figure or 7 figure account ? When your spread is more than your average winning trade on your mini account ?

When your profits are more than you earn in one month on one trade....and you close the trade early and dont let your probabilities play out...

MATH will not SAVE your ass!!!!.... The only thing that will save you is you...

Your personal psychology..What makes you tick....

Everyone wants the big bucks the easy money and everyone looks to the externals.... WRONG !

Look inward look in the mirror...Thats where the MAGIC lies...the HOLY GRAIL IS YOU !

Watch Rande Howell ... Read some of his materials OR Steve Ward .... Study what they say...Do what they say... But its gonna hurt..I guarantee that.

Most will dismiss this,, most dont have the drive or the balls to really look at the guy in the mirror and make the changes you need to make....

Really the choice is yours....

Heres some valuable insight take it or leave it.. but I would watch this and think,,,,really think.....what is being said....

Hi bluesteele,

I agree with "the problem with your trading is YOU"

"YOU" means: traders who use methods and indicators randomly without knowing the basics of what they are using.

none of the creators of methods and indicators told traders how to trade, they created it to help traders to read the market correctly so they can use it to build their strategies.

Rande Howell said in the 1st minute : "everybody knows that trading is about probability and uncertainty and managing that risk."

I never trust anyone who says that, I know for a fact he is a gambler. identifying direction will remove the probability, knowing Dow rules will remove the probability, knowing a simple stochastic will remove the probability.

here is GU for the last 2 weeks, the direction and range of the weekly is clear sideway, Dow reading show clear HHHL-LHLL, and every day the stochastics confirm the readings.



the only thing left for traders is to manage their trades accordingly, if they can't be in sync with the market reading then it's THEIR problem.

so, methods and indicator will save anyone's ass(edit: don't want to cancel my reservations) if they use it correctly

cheers,

Please leave the A$$ ( The humble Aussie Dollar) out of your intellectual debate. I don't mind if you use KD instead.

LOL, never crossed my mind, my apologies to the Aussies. I guess being polite not to say the word got me in trouble

cheers,

I think once you can fit this into the equation you are about to get over the hump. Not everyone can do it.

Lines and channels and a few pennies for a sarnie
Enjoy the rest of your day

AS long as it's enough for you & the missus.

Confluence of zones & Lines.

Hi Dave,

Hmmm, dunno, still thinking on it.

What makes sense to a wide range of traders, I have observed over the years, is not generic but - personal
I mean, what makes sense to US, as apart from everybody or just others.

All, as in the You vs You concept I feel that Bluesteele was presenting to a wide audience here, based as he said on his OWN personal experiences.

Certainly my own best development came later. And after NOT listening to indicators, if you know what I mean.

To me indis will allow me to SEE current structure 'from a distance' rather than sitting huddled over my computer screen (tho I do that also ).

Indis in my eyes, are a roadmap of sorts, that on occasions I reckon I use differently than what I imagine the originator might have had, as its purpose.
(ie maybe was developed as a "trading" trigger rather than tool etc).

But each to their own.

Which is why I like looking at charts, all charts, while especially those with some personal "annotations" of what the Trader is seeing at the time in their eyes.

all the best, we trade & we enjoy it (else we wouldn't be doing it, I imagine)
Pete

Hi Dave... Appreciate the input and your opinion. Personally I have found Rande has much much more material and resources in the psychology arena. But that's my opinion and we have to go with what resonates with each of us on a personal level... I did love reading Marks books tho...good reads...


All the best !
Blue

A late in the morning chart, as this first trading day of the month melts away.


I agree with Lines. Horizontal Lines are the Prices at a point, and seen numerically also over at the right-hand axis.

Some of the lines I post are automatic & static and therefore unchangeable (ie RNs)
Others are variable to the Day or the Session.

I often wonder what other traders might do at or around those lines, triggering the larger Market to then do something itself.

All a bit of fun for sure.

.