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How to read the market

  • #101
  • Mar 26, 2024 12:42am Mar 26, 2024 12:42am
Quoting zalzil123
Let's refresh what we started FACT NO1 Apart from crypto with 24/7 trading EVERY DAY WEEK MONTH YEAR EVERY FOREX PAIR CRYPTO COIN STOCK COMMODITY INDEX MUST HIT 2 LEVELS KNOWN AS THE HIGH & LOW OF THE DAY WEEK...... Hit means breaking the level not touching it . SO you can see it's either or Like a coin when you toss it either head or tail So the same applies here Either we hit the LOW and start heading upwards till we hit the HIGH Or we hit the HIGH then start falling till we hit the LOW. Also as mentioned you can apply it to crypto indexes stocks...
I think you shouldn't call them Highs and Lows; it's causing more confusion.
As I understand it, it's more like an upper and a lower level.
Price has to reach / break both during a day.
(there's a good change it reverses immediately)
  • #102
  • Mar 26, 2024 1:54am Mar 26, 2024 1:54am
This is bitcoin cash chart BCHUSD

just to give you and idea about the H/L range

Daily weekly monthly and yearly range
Attached Image (click to enlarge)
Click to Enlarge Name: btcash263.png Size: 39 KB
  • #103
  • Mar 26, 2024 2:05am Mar 26, 2024 2:05am
I think you shouldn't call them Highs and Lows; it's causing more confusion.
As I understand it, it's more like an upper and a lower level.
Price has to reach / break both during a day.
(there's a good change it reverses immediately)

You know not me but the candles will be very angry with you as you are abusing them.

Every candle has its own characters and features.

Every candle had has have whatever

H L O C I think everyone agrees with me

High Low open close price.

Lets dive into the candles ocean

When we say low to high

we are talking about 2 stages

1st stage : Open price to low

2nd stage : Low to high price which is the dream of every trader

3rd stage : High to Close price which is the final stage.

when we say high to low

its the reverse

Hope everything is clear.

Love to have more comments and questions.
  • #104
  • Mar 26, 2024 2:53am Mar 26, 2024 2:53am
trend no trend. highs lows no highs lows. look everyone its playschool time again. chart no chart.

heres one

Attached Image (click to enlarge)
Click to Enlarge Name: mcsft1.png Size: 31 KB


great. how bout the really hard Questions. look mum no candlesticks.

muuuum why all these persons say the same things all the time?

are modern people REALLY in need of 100+ threads that say the same thing?

as i peruse this thread i think ill shoot my tv.

i think it should be a prerequisite for all traders n persons 2 get a brain scan. !we's gotta knows if theres a brain in der!

there should be a law.
protein for breakfast !
  • #105
  • Mar 26, 2024 3:00am Mar 26, 2024 3:00am
Lets see GBPJPY

Very volatile pair.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbjd263.png Size: 11 KB
Click to Enlarge Name: wee26.png Size: 10 KB
Click to Enlarge Name: mo26.png Size: 10 KB
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  • #106
  • Mar 26, 2024 3:13am Mar 26, 2024 3:13am
trend no trend. highs lows no highs lows. look everyone its playschool time again. chart no chart.

This chart is for you
Attached Image (click to enlarge)
Click to Enlarge Name: msft263.png Size: 9 KB
  • #107
  • Mar 26, 2024 3:57am Mar 26, 2024 3:57am
Quoting oochiwaawaa
trend no trend. highs lows no highs lows. look everyone its playschool time again. chart no chart. heres one {image} great. how bout the really hard Questions. look mum no candlesticks. muuuum why all these persons say the same things all the time? are modern people REALLY in need of 100+ threads that say the same thing? as i peruse this thread i think ill shoot my tv. i think it should be a prerequisite for all traders n persons 2 get a brain scan. !we's gotta knows if theres a brain in der! there should be a law.
So you're only using the closes, one SMA, volume and the MACD...
Do you think OHLC is more a distraction than a help?
  • #108
  • Mar 26, 2024 4:00am Mar 26, 2024 4:00am
Quoting zalzil123
Lets see GBPJPY Very volatile pair. {image} {image} {image} {image}
I assume you chose that specific D, W and M candles with a special purpose?
  • #109
  • Mar 26, 2024 9:29am Mar 26, 2024 9:29am
Every candle has

Open price

Close price

High price

Low price

Olhc or ohlc

I didn't invent them

These 4 price are the backbone of trading

All you need to understand is the difference between

Bullish candle olhc

And

Bearish candle ohlc

That's it.
  • #110
  • Edited 9:57am Mar 26, 2024 9:45am | Edited 9:57am
I’m just dumb and I still don’t get it.

Everyday price will move to a high and a low. So, next day we look for price to move to previous high or low and short if price breaks previous high and vv?

You already have an idea what your method is but I think many of us still don’t get what you’re sharing out here. I believe posting a chart with annotation and what to look for will be easier to digest.

I hope to get your guidance, ZZ123. Thank you..
  • #111
  • Mar 26, 2024 11:23am Mar 26, 2024 11:23am
Thegees thanks for your question.

Your answer is about something very important

So let's start

what is no 1 thing you need to check for your winning trade

I want to make money what shall I look for

what should I put in front of me then decide to buy or sell

What is it

this question is for everyone

I need answers please

say anything that comes into your mind
  • #112
  • Mar 26, 2024 11:39am Mar 26, 2024 11:39am
No 1 thing we need to look at is TREND

Nothing else forget everything I'm telling you

The trend is very important why

Because if the trend is up and you are selling then you will lose money

The same applies if the trend is down and you're buying

I am enclosing a gold chart for today with the high of 2200

And low of the day 2167.50

Have a look and I will come back later to you.

Tomorrow gold is going down just by looking at the candles
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20240326-183208_MetaTrader 4.jpg Size: 349 KB
  • #113
  • Mar 26, 2024 12:24pm Mar 26, 2024 12:24pm
Tomorrow if you think gold is going up

ie it means the trend is up

So we must break today's high of 2200

And if you think the trend is down then

We must break today's low of 2167.50

Hope everything is very clear

As I will start FACT NO 2
  • #114
  • Mar 26, 2024 12:58pm Mar 26, 2024 12:58pm
Remember fact no 1 we used 3 words high low must

now we are adding the 4th word TREND

This applies to everything forex crypto bonds ......

FACT NO : 2

If the trend is up

The pair ( coin index share ....)

Will start falling till it hits the low of the day

Then

It will rise to hit the High of the day

So low to high is the up trend.

If the trend is down

The pair

Will start rising up to hit the high of the day

Then

Will start falling to hit the low of the day.

So now high to low is the down trend.

Now everything is revealed

Where every candle is heading and why

Take care everyone.
  • #115
  • Mar 26, 2024 3:25pm Mar 26, 2024 3:25pm
Are you not already late once you identified the trend?
  • #116
  • Mar 26, 2024 8:03pm Mar 26, 2024 8:03pm
Quoting Onra
{quote} So you're only using the closes, one SMA, volume and the MACD... Do you think OHLC is more a distraction than a help?
can use closes but some instruments show open 2 b more important. i realize how lazy and unmotivated persons are these days but it needs to be said - wen u get outta bed in morning do you leave 1 arm and leg bak in bed? no so why would you break apart !the full situation! and say its !all there! ? so @ ohlc the ATTITUDE but NOT the person ... the attitude of persons in all this SUCKS!!! u cannot persevere in the financial markets if u cut copy paste BS that is outta place or sequence in time and energy. not being cryptic, merely very sensible. the chart pic i offered is just an eg. but it highlights PRECISELY that real life is different to a chart. how? ur looking and perspective that is enforced by ur opinions and beliefs. once u see they not real then the learning begins.

did u know ..... there are more than 400 pieces of information on a candlestick chart at any 1 time in that minute? i dont refer to tech analysis rubbish nuances or idiosyncrosies eg !price action! OMG NO!! i mean real hardcore real life details. !!oh but in fx u cant get the volume or true information!! oh betty wot a conundrum hah.

if u cannot workout or CHOOSE not 2 workout how the real world !!reads the market!! then how the FUCK are u gonna read details that ALL LOOK THE SAME on a basic chart? it dont happen. perhaps after years of doing business with these markets u can use chart & 1 ma with maybe added details but on THESE sites its all bull. fanfiction is not real life.

no details such as ohlc are not a distraction. id say ur brain not working is a distraction. not an insult or being offensive. !its a matter of fact!!. go bak to getting outta bed eg. same premise.

also look at that chart i gave. markets are about looking not profits. profits are a trap. if u hunt profits, as its anothers game uve just shown ur weakness to the world and anyone looking. uve just shown ur overconfident and are willing 2 gamble to succeed or win. 2 !!star qualities!! ur society thrives on. after all they have all the time in the world til u die to get it all bak.

an indication is useful if it is REAL. and ONLY if that is present. so ur chart vs mine posted. why similar? why they not?

look at this one....

Attached Image (click to enlarge)
Click to Enlarge Name: chart.png Size: 21 KB


apart from excuses like !!oh the technology was different then!! ... please lets not be so naive..... what can ur brain learn that ur opinions cant bout all these? go away n think about it all.

!!read the market!! with only a chart. WOW!!!! just shoot me and throw me in a meatgrinder! itll hurt less and its faster.
protein for breakfast !
  • #117
  • Mar 26, 2024 8:29pm Mar 26, 2024 8:29pm
Quoting oochiwaawaa
{quote} can use closes but some instruments show open 2 b more important. i realize how lazy and unmotivated persons are these days but it needs to be said - wen u get outta bed in morning do you leave 1 arm and leg bak in bed? no so why would you break apart !the full situation! and say its !all there! ? so @ ohlc the ATTITUDE but NOT the person ... the attitude of persons in all this SUCKS!!! u cannot persevere in the financial markets if u cut copy paste BS that is outta place or sequence in time and energy. not being cryptic, merely very sensible....
did u know ..... there are more than 400 pieces of information on a candlestick chart at any 1 time in that minute?

You must be talking about manual trading....cause I don't give a hoot.

It is like saying there are a gazzillion processes involved in bringing that plate of food in front of a person and then how body digests it and how everything impacts another etc.

Who cares?..eat the chow cause a lot of those details are a) automated and b) knowing them doesn't necessarily make you better or effect the processes and c) if you worry too much you end up with ulcer and a bald head.
  • #118
  • Mar 26, 2024 8:35pm Mar 26, 2024 8:35pm
Quoting OutThere
{quote} did u know ..... there are more than 400 pieces of information on a candlestick chart at any 1 time in that minute? You must be talking about manual trading....cause I don't give a hoot. It is like saying there are a gazzillion processes involved in bringing that plate of food in front of a person and then how body digests it and how everything impacts another etc. Who cares?..eat the chow cause a lot of those details are a) automated and b) knowing them doesn't necessarily make you better or effect the processes and c) if you worry...
its called general knowledge. try it sometime u might learn something useful.
protein for breakfast !
  • #119
  • Mar 26, 2024 8:49pm Mar 26, 2024 8:49pm
Quoting oochiwaawaa
{quote} its called general knowledge. try it sometime u might learn something useful.
I try it every day and then I separate the important stuff and leave the trivial things to great thinkers like you.
It is called simplifying and is based on K.I.S.S.
Helps to keep me happy.
Happiness is the most important thing in life.
  • #120
  • Edited 11:08pm Mar 26, 2024 9:08pm | Edited 11:08pm
Trend to be identified before the market starts

If I don't know tomorrow's Trend how would I trade

It's very important to do your homework and identify the trend before next day trading

What's the use of identifying the trend in the middle of the day?
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