Support and Resistance Trading Simplified - Page 2
Page 2 of 6119 FirstFirst 123412 ... LastLast
Results 11 to 20 of 181

Thread: Support and Resistance Trading Simplified

  1. #11
    90023
    Quote Originally Posted by ;
    . .J16 isn't price action. . its candlestick trading.
    The Right appliion of Japanese Candlestick patterns INVOLVES an Comprehension of the price action Before and or within the Japanese Candlestick occurs.

    Most traders that fail using Japanese Candlesticks, fail because they do not concentrate on price action and rather believe it is just about pattern recognition.

    Simply, your statement infers that Japanese Candlesticks and Price Action are mutually exclusive, they however are not. This is despite the fact that learning sources for Japanese Candlestick analysis teach it .

    Quote Originally Posted by ;
    here this is price action

    the waves actually make price action

    not the simple fact a pin bars high gets taken out...

    Price action trading flows in this way

    Price reaches Support...
    Price made a failed new low and provides the potential to reverse...
    Price has broken out...
    Price shouldn't take the low out for the alteration to hold...
    Price makes the following unsuccessful new low along with a trend is forming off support...
    This new low shouldn't be taken out for trend to hold...
    . .repeat until off of resistance is taken out.

    Risk Reward is market defined and is...
    There is more than 1 way to skin a....

    I view price action just trading (no indiors) otherwise. Have a look at the chart below. This is a good example of a Bearish Engulfing pattern (not the generic patterns found in books or most online sites). From this particular pattern to life is an understanding of exactly what caused it. That's to say, the price action surrounding it.

    I like quantity. Although seemingly one be a commerce and scalper VSA or can not trade from one timeframe, I use some of it in viewing price action. :

    A. Broad Spread up candle on increased and climatic quantity. Markets do not like high volume on up candles. Be aware that we closed off the top of the candle. IF all the volume related to the candle has been buying, and then the candle shouldn't shut of the high.

    B. The following candle is up. This does not imply, however, there wasn't hidden selling in the preceding candle. Also, note that in this candle we shut off the high. We shut in the reduced 1/3 of the range of the candle. The long upper shadow shows provide (selling) entering the market. This is an upward Thrust.

    C. Bearish Engulfing dark candle. Whilst the quantity is less than the preceding two candles, it's nevertheless bearish. A B C all together create the bearish engulfing pattern. A alone is an candle line. As are B and C, but together they change from independent candle lines (intervals) to a legitimate candle pattern.

    D. Another candle with quantity less than the preceding two candles. But let's think about the circumstance. We have seen provide enter on two up candles (near greater than the previous candle's shut ) and now we see an up candle using DECREASING volume. The Smart Money isn't interested in prices at this time. In VSA parlance, this isn't any Demand.

    VSAers can't take this trade because they need to check at 6 different timeframes and talk about background from 3 days ago. As a true price/volume activity trader that incorporates Japanese Candlestick Patterns into the mix, the point is set.

    I feel this is how price action flows...

  2. #12
    90023
    Quote Originally Posted by ;
    The correct appliion of Japanese Candlestick patterns INVOLVES an comprehension of the price action before and or inside the Western Candlestick occurs.
    I will agree with this. . Because u seperated price action from the candlestick anything in conjunction with SR and Price action is enhanced.
    Quote Originally Posted by ;
    Most traders who neglect using Japanese Candlesticks, fail because they do not focus on price action and rather think it's only about pattern recognition.
    Agreed
    Quote Originally Posted by ;
    Just, your statement infers that Western Candlesticks and Price Action are mutually exclusive, they are not. This is in spite of the fact that learning sources for Western Candlestick analysis teach it .
    No it doesn't. . I am seperating them. . Japanese candlesticks aren't price action just like how u seperated them above. . Needing price action surrounding them to comprehend them.

    Quote Originally Posted by ;
    There is more than one way to skin a....

    I view price action only trading (no indiors) otherwise. Have a look at the chart below. This is a good example of a Bearish Engulfing pattern (not the generic patterns found in publications or many internet sites). From this pattern to life is an understanding of exactly what caused it. That is to say, the price action surrounding it.
    Ailing agree

    Quote Originally Posted by ;
    I enjoy quantity. Although one can not trade off of one timeframe or be a scalper and commerce VSA, I use some of it at seeing price action. :

    A. Wide Spread up candle on climatic and increased quantity. Markets do not enjoy high volume on up candles. Be aware that we closed off this candle's high. IF the volume has been buying, then the candle shouldn't close of the large.
    I do enjoy trying to know the quantity assisted market profile. But is beyond this thread and would require the next to be discused.
    Quote Originally Posted by ;
    B. The following candle is upward. This doesn't mean, however, there was not hidden selling in the preceding candle. Note that in this candle we close off the large. We close in the lower 1/3 of the range of the candle. The long upper shadow reveals supply (selling) entering the market. This is an Thrust.

    C. Bearish Engulfing dark candle. Whilst the quantity is less than the preceding two candles, it is nevertheless bearish. Create the bearish engulfing pattern. A alone is only a candle...
    quantity in spot is not usable since it is splotchy in the best. In realizing Nonetheless, it is best utilized. We're taking a look at cold hard PA at SR.. I can agree with you that quantity assisted market profile has its merrit but maybe not so much in spot markets... but since you mentioned yourself Candlesticks aren't PA and understanding that the PA about candlesticks it what makes it function.

  3. #13
    90023You misunderstand. Price Action and Japanse Candlesticks are not separate.

    You're able to take the miopic see a candle pattern, like a hammer. But inwhich the hammer has been price action.

    Also no mention Market Profile was created by me. Volume is not market profile.

  4. #14
    90023
    Quote Originally Posted by ;
    You misunderstand. Price Action and Japanse Candlesticks are not separate.

    You can take the miopic view a candle pattern, like a hammer. But those who trade hammers will fail since they don't examine the context inwhich the hammer was price action.

    Also no mention Market Profile was made by me. Volume isn't market profile.
    Okay how can I misunderstand you. . You state. . Candlesticks and price action are not seperate... you then state people who exchange hammers wil fail since the don't examine the context where its formed aka the price action

    so your saying you can exchange hammers but you will fail unless u consider the price action surrounding the hammer. .

    You're saying that. . There is a hammer... but that hammer doesn't mean trade I must look at something else. . That something else would be the price action

    consequently hammer and price action are seperate.

    Since you must look at each. . You're saying the hammer can be traded by you as long as the price action confirms the hammer. And not exchange it if it doesn't. .

    So lets add some thing else. . Since hammer is candle rod and outside bar and inside bar are also candlesticks. . Then we could exchange them and state

    if the inside bar isn't confirmed by the price action then we don't exchange
    if the outside bar isn't confirmed by the price action then we don't exchange
    if the pinbar isn't confirmed by the price action then we don't trade.

    Hence and bar can shape and as anybar which creates is a candlestick and bar that creates as long as price action confirms it is thus a buy signal and not price action since the price action is the circumstance or senario surrounding the bar...

    am I close. ? ... thus price action and candlesticks are seperate... and candlesticks need confirmation from price action to be adequate... not saying they cant be trading together only candlesticks are not price action.

    That leads us into the question of what is the price action surrounding the candlestick. .

  5. #15
    90023 price has busted out stops and new long triggers are piling up against unsuccessful lower high....
    We price our stop at this area and move to breakeven
    we also sell the new break and adjust.
    That is price action.

  6. #16
    90023
    Quote Originally Posted by ;
    we also sell the new break and adjust.
    .
    Can you explain why you sell?
    What if break will seem to be busted. ?

  7. #17
    90023im in the midst of trying to learn all this candle rod jackos thread, and j16. Iv always been more interested in line charts so im very interested. Please continue teaching!

  8. #18
    90023 price is ongoing to split thus Im still holding the transaction. . no ifs or maybes. . I am selling since price action brokeout lows.

    Here is effect of trade over...

    Risk:benefit will be 1:5 right now....

    But price action will inform me when to exit and that's not now

  9. #19
    90023
    Quote Originally Posted by ;
    price is ongoing to split thus Im still holding the transaction. . no ifs or maybes. . I am selling because price action brokeout lows.

    This is effect of trade over...

    Risk:benefit is 1:5 right now....

    But price action will inform me when to depart and that is not currently
    So what you're saying here is that, PA will say when to either add to the trade or close it. What's that PA going to be? Another service region and price breaking through it retracing, telling us that the former service region has become resistance to price breaking ?

    If it's, then that is certainly not price action, it's merely a PPZ region.


    PB and other real PA work because they are multipurpose period, a PB on H4 could be a head and shoulders pattern on H1 and other patters on additional TF.

    This gets the attention of people, and that is why they work.

  10. #20
    900231 Structure (s)
    Quote Originally Posted by ;
    So what you are saying here is that, PA will say when to either add to this trade or shut it.
    Thats the idea. . If you're able to whip out your crystal ball and tell me precisely where price will turn be my guest... cause I sure dont know anyone who can.
    Quote Originally Posted by ;
    What is that PA likely to be? Another support region and price breaking through it, then retracing, telling us that the support area has become resistance to price breaking above it?

    If it's, then that's surely not price action, it's just a PPZ region.
    I don't believe you recognize the concept... your candlesticks are a by product of price action not price action itself. . Now im unsure about your PPZ zone im men gave aid and resistance a fancy title. . And all I must say about that is you can set a dress and lipstick on a pig but at the conclusion of a day its still just one fancy appearing pig....

    Your SR is not just holding or breaking here we are waiting for price to achieve a SR zone. . Or your fancy dress and lipstick wearing PPZ... then reveal its hands... we don't place targets because we don't anticipate the future to be predictable. . Thus there is no need. We are simply skewing a distribution... and so boundless yield with limited loss produces favorable profits.

    Your debate just another sR area breaking... no its not. . Its price reaching SR and watching the price action or the duration waves price will show you what it's currently doing not exactly what it can do down the street.

    Quote Originally Posted by ;
    PB and other actual PA work as they are multi time period, a PB on H4 might be a head and shoulders pattern on H1 and other patters on other TF.

    This gets the attention of people, and that's the reason why they work.
    Really no your wrong. PB and other actual PA that you state works due to the construction of this Order flow on the chart. . Stacking and concentration of orders forces moves.
    So I figure you coulda gone long when we went short due to this PB. . Not read the order flow and be stopped out...

    however 1000$ dollars on a PF later. . Youll simply tell me grade pinbar which is subjective and has no way of being quantified.

    And if you cant find the failed PB in the apparent short order flow I put a large yellow arrow there for you.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
This website uses cookies
We use cookies to store session information to facilitate remembering your login information, to allow you to save website preferences, to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners.