Thread: Trade Anatomy - ramblings of an old-timer

91702Hello

Quite a hardcore chartist, I see! You've got some interesting threads about the topic.

For the purpose of this thread I think that it's slightly more than I want to go into right now, especially because I have placed the thread at the beginner forum.

If anyone wants to go into more detail about technical analysis however I expect that they search you out as you appear to be a wise thinker.

Kind regards,

O N D

40651hi OND invite you for starting this I see an epic thread and im on board. I've read each the system with irony 1 and also learnt alot but didnt get much into 2 because of the time period involved(dont like scalping). I read PeterCrowns thread and learnt alot. Hope I could learn alot from one to. im all for no indiors k.i.s

regards damien

91702Hi Damien

Thank you for your kind words. You've picked your learning in the event that you have absorbed what Feb and PeterCrowns have shared.

Welcome to the ribbon. I look forward to your contributions.

Kind regards,

O N D

Originally Posted by ;

hi OND im on board and invite you for starting this I see a epic poem in the making. I've read all the system with irony 1 and learnt alot but didnt get much into 2 due to the time frame involved(dont enjoy scalping). Also I see PeterCrowns ribbon and learnt alot. Hope I could learn alot from you to. im all for no indiors k.i.s

regards damien

91702

Originally Posted by ;

Drill down to the daily Dollar-Yen chart and the picture will likely look quite different. The lows from 4th March and 6th May seem for me to be yelling out to be tested again imminently. If I had been interested in trading this, I'd be seeking signs of a swing high driving and driving price down for another go at getting beneath 88. Drill down further to the hourly chart and you would probably see that a breach of 90.60 would be a fantastic sign we are led down.

Hi OND

Thank you for the ster graph explanation. Much clearer now.

As you would expect I've some questions on your own USDJPY post.

Why are the highs of 4th March and 6th May screaming out to be tested again? We've had a bullish fracture of this 90.60 degree in the last few days. There has also been a test of the amount as service, and to me, this would negate some imminently bearish bias I might have. Of course, as you say, price can and can go where it pleases, but for you to use the term'screaming' I must be overlooking something. In fact, thinking about it, I see the big tail of the 6th of May daily low, and I'm presuming it is the following PA that gives you this view, with a break over 91.60 negating that view.

If you were to sit on a breach under 90.60, what span and setup would you be looking for to get on board?

Many thanks,

91702HI OND

Reporting for duty and wanting to learn PA

Could you provide a list of standards to look-out when investing (i.e. what are the orderly actions?)

Thanks

91702Good morning

The place at this very minute is rather different for Dollar-Yen compared to if I posted originally. This is based on an intuition that I'd fight to map out adequately to make sense although As for me, I still believe the current retracement from the 89 area is about to exhaust itself. The point I made about feeling that that test of the 88 region, though rejected, was a indication of where price needed to proceed.

Hmmthis is really where I sadly think I will neglect you all. I wish I could hand out the hundreds of thousands of hours of viewing price structure I have experienced along with the actions it has triggered in me over the years. There is a trader called HiddenGap whom I recommend you all seek out. Reading his articles will be a complete pleasure since, not only does he understand the markets, he also clarifies his expertise and methods with clarity.

Now that I have told you all to go elsewhere (haha!) I will do my very best to fumble my way through trying to describe what I see and .

The massive daily down bar on 6th May closed 250 pips above the low of the day. That is bullish, right? It leaves a long tail . I'd say not. The bar closed marginally in the lower half of the daily range. More importantly, look at the price action that went before it (stick with daily chart for now). This wasn't a further push down. This occurred after an uptrend (follow the low from 4th March upwards). Now look for the two biggest daily bars which occur after 6th May. The two days with most volatility resulted in price closing in the lower half of those pubs. Now look bar from 20th May. We are now on the 7th daily bar since that one and haven't taken out the high of the bar.

I am not sure whether all those points combined will make sense or will present a compelling argument but that's as much of my own thinking since I can probably describe in words as so much is becoming instinctive through recent years. I will let you in secret, I have managed many traders however I have hired a right-hand man to train them. Having knowledge is one thing.

To answer the hypothetical question concerning the timeframe I'd see if I wished to acquire brief below 90.60, I'd say the 4H chart offers the best clarity of the position currently.

This ramble is over. Hope it makes sense but you know you are welcome to attempt and research further if I have managed to describe yet.

Kind regards,

O N D

Originally Posted by ;

Hi OND

Thanks for the ster graph explanation. Much clearer now.

As you would expect I have some questions in your USDJPY post.

[font=Verdana][color=black]Why are the lows of 4th March and 6th May crying out to be tested again? We have had a bullish fracture of the 90.60 level in the past couple of days. There has been a test of the amount as service, and to me, this could negate any imminently bearish bias I've. Of course, like you say, price can and does go where it pleases, but for you to use the word'yelling' I need to be...

91702Hello Pete - welcome to the thread

I must give my sincere apologies as I've just realised that I missed your article.

I shall attempt to reply soon, promise!

Kind regards,

O N D

Originally Posted by ;

Hello OND,

Thank you for the excellent thread I've a question regarding fiesability of a couple of scenarios about the USD/CHF, if you'll excuse me that I will not post a chart.

The weekly and daily charts suggest the price is hitting resistance, at the current 1.1587 mark. So a short entry under weeks low at 1.1471 seems attractive.

My next scenario is a buy on break of the the 1.1920 mark (9 Mar high)

[left]On the short trade scenario (althouh I would likely depart before the ) if there was a smooth trip down to 1.045 I'd commerce out, and tenant...

91702Hello again Pervaz

I'm afraid I will have to disappoint you. The ribbon will hopefully evolve in an extremely useful and logical way as opposed to me writing my memoirs in the first 5 pages and then leaving you all to interpret them

I'll throw the baton back to you as I know you're included in previous price action threads. Tell me, what learning are you cemented that's currently proving useful in trading pure price? What do you fight with? What spots would you have to do battle with?

Kind regards,

O N D

Originally Posted by ;

HI OND

Reporting for duty and wanting to find out PA

Could you provide a list of criteria to look-out when trading (i.e. what would be the systematic measures?)

Thank You

917021 Structure (s) A huge thanks to Astellas for increasing AU that I had not really been observing.

As a consequence of our discussion I developed conviction that a temporary move down was likely. I shorted two places at the 62% retracement which corresponded with resistance (1) plus a huge round variety .8500 (two ). This rose a little and then formed a trap pub (pink on my own charts) which broke with a tick, retraced, and then broke solidly.

Someone taking OND's advice and awaiting the price action to verify that price was moving down would have anticipated a convincing break of the trap bar to exchange (imho).

First target was the up channel we discussed previously and I've exited that while second target is above a service area below. Because its nearing my bed time so it will be an superb outcome either way, I've moved the stop down within a 5m pullback place.

OND. The question this raises for your thread is: what about snare bars? I enjoy a nice long pinbar that is well formed and broken as, to me it illues price moving to a zone of choice and then solidly rejecting it. Without the zone of choice though (round variety, sr, channel edge say, and for me personally, fibs) the trap bar is totally immaterial... its only in context that it has probability on its side.

91702Hello back Pete

My very quick scan of the daily and weekly charts for that tool indicates minor resistance doesn't apply until about 1.17 area?

I see what you mean about a breach of this 1.1470 area potentially being bearish. A couple of questions are necessary for you ....

How will you play with a breakout? Are you going to choose any penetration of the figure employing a pending order? Are you going to wait on a close of a bar? In that case, is it a daily bar or a interval? Are you going to aim to get on the first move below 1.1470 or will you look for service to become resistance and vanish the retracement?

The characters you're quoting, and the corresponding targets, are feasible but have a think about what your breakout trading style needs to be and where your stops will need to go and let me know your thoughts. Also, clarify how you come up with your stop rankings? Depending on risk or price action or something else? I should be able to give a feedback then.

Kind regards,

O N D

Originally Posted by ;

Hi OND,

Thanks for the excellent thread I have a question concerning fiesability of a couple of situations about the USD/CHF, if you will excuse me I won't post a chart.

The weekly and daily charts indicate the price is hitting resistance, in the current 1.1587 mark. So a brief entry below last weeks low in 1.1471 looks attractive.

My next scenario would be a buy on break of this the 1.1920 mark (9 Mar high)

[left]On the brief trade scenario (althouh I'd likely exit prior to this) if there was a smooth ride down to 1.045 I would trade out, and renter...