How would you play this setup?

[counter_violent]

Hi Mark,

I must confess to being thrown by the talk of volume ...forex...can you expand on this please.

 

[squall321]

plus it has 1.4127, 1.4110, 1.4092 down the side

hmmm eurusd 5 min chart
lol

 

[Neoripley]

counter violent, You're clearly a bit barking ... oh, now the thread's been 'cleaned up' - that's convenient

Regarding the more relevant comments viz cloud321... Damn! I forgot to hide the prices! It was supposed to be a purely TA exercise, just for fun. Based only on the price action and S/R - oh well, guess the cat's out of the bag now...

 

[counter_violent]

Now I know exactly why experience disappears from the site...i'm out...it's like trying to plat treacle.

 

[Neoripley]

Ok, this thread has taken a tone I don't like so I'm going to unsubscibe. I thought this was a public forum open to all to share their ideas and views, etc. I do so humbly apologise to any awesomely experienced and stupefyingly profitable trader or 'moderator' whose fragile psyche or superior intellect was offended by this thread - NOT!

Anyway, here is the full chart. It's a M5 chart of EUR/USD - the last part of the trading day on Friday.

POLL IS NOW CLOSED! ****************************************************************************************

CHARTS REMOVED to prevent any further discussion

 

[Mr. Charts]

Just looked at this for the first time so haven't seen the unexpurgated original.

Personally I only trade situations which are reasonably clear, clean and unequivocal. I see no point in trying to read what is difficult to read because the probability of being wrong is too high; apart from often having to have wider stops the probability of the price not moving very far is higher.
With US stocks you can almost always find charts which are reasonably clear, clean and unequivocal, so I can use tighter stops and have a higher probability of success and a larger move.
For me the trading business is a probability business involving the minimisation of risk and taking only high probability situations to maximise profits.
If it isn't clear I don't trade it.
Keeps life simple and profitable.

Otherwise take notice of what mr.marcus says
Richard

 

[Neoripley]

Thanks

Otherwise take notice of what mr.marcus says
Richard

Thanks for your post Mr. Charts (Richard). I agree, and think yours and mr.marcus' observations are (EDIT: probably) very educational and should be welcomed and (EDIT: VERIFIED) by many. I, for one, did actually place these trades on Friday and was pleased with my results. I was wondering if some other members had noticed the same setups on Friday and thought it might be helpful to others as well (who had missed them) to see how this setup turned out. Hence the post. Is that against T2W policy??? I was going to share the rules I followed for these trades and other reasons for choosing those levels and also how I managed the trades, but can't be bothered now since the 'moderator' intervention and provocation. Guess I will have to contact T2W to see what the problem was with c_v and if this thread was against some policy - or simply to report it...

 

[barjon]

neo

It's a pity your thread got a bit derailed. I think cv was only housekeeping the thread to remove the off-topic exchanges. mrmarcus deleted his own post, maybe wary of the sort of disruption that occured when I ran a series of somewhat similar "wot happened next?" threads some time ago.

good trading

jon

 

[counter_violent]

Thanks for your post Mr. Charts (Richard). I agree, and think yours and mr.marcus' observations are very educational and should be welcomed and appreciated by many. I, for one, did actually place these trades on Friday and was pleased with my results. I was wondering if some other members had noticed the same setups on Friday and thought it might be helpful to others as well (who had missed them) to see how this setup turned out. Hence the post. Is that against T2W policy??? I was going to share the rules I followed for these trades and other reasons for choosing those levels and also how I managed the trades, but can't be bothered now since the 'moderator' intervention and provocation. Guess I will have to contact T2W to see what the problem was with c_v and if this thread was against some policy - or simply to report it...

Do exactly as you see fit. Don't worry about the deleted posts...they are all still there and available for scrutiny...in fact I will personally direct our new community manager in this direction.

----------------------------------------------------------------------------------------

I asked mr.marcus ( mark ) what was the relevance of volume and forex....then cloud jumps in with nonsense and then you jump in with even more nonsense.

While we are on the subject...can you tell me why you have volume on a forex chart ? I do hope you can provide a very good answer here btw...because as things stand, I think your in a hole...and about to dig yourself in deeper.

There is no centralized forex exchange....so come on tell me why the volume on the chart.

 

[Neoripley]

Do exactly as you see fit. Don't worry about the deleted posts...they are all still there and available for scrutiny...in fact I will personally direct our new community manager in this direction.

----------------------------------------------------------------------------------------

I asked mr.marcus ( mark ) what was the relevance of volume and forex....then cloud jumps in with nonsense and then you jump in with even more nonsense.

While we are on the subject...can you tell me why you have volume on a forex chart ? I do hope you can provide a very good answer here btw...because as things stand, I think your in a hole...and about to dig yourself in deeper.

There is no centralized forex exchange....so come on tell me why the volume on the chart.

Why should I have to explain myself to you, even if you are a moderator? I've done nothing wrong. Are you really a moderator or are you a spammer? cloud321 was quite right in how he answered you - it was you who misunderstood him. Besides, he didn't even owe you an answer or explanation! You were discourteous to him for no reason and you are being discourteous to me. Your opinion was not asked for and your interjection unwelcome. If you are a moderator then you should MODERATE - and keep your personal opinions to yourself. BTW, who is your community manager?

EDIT: Where's Androosh?

 

[squall321]

.then cloud jumps in with nonsense and then you jump in with even more nonsense.

i didn't jump in with anything

i posted saying the forex prices were on the chart, so thread = fail becasue everyone can just go look up what happened next

then you quoted me saying i am missing a point about volume (which i said NOTHING about whatsoever)
then you quoted me again asking me about volume AGAIN
then you quoted me again asking about volume and waffling about question marks

now you're sulking

 

[Neoripley]

Where's he gone? :|

 

[Lightning McQueen]

calm down please gents, there are no admin online at present, so please be patient, they'll deal with any issues you may have with our conduct, everything done I believe is logged and recorded. best get me text book in me pants now for the caning :whistling

 

[Neoripley]

neo

It's a pity your thread got a bit derailed. I think cv was only housekeeping the thread to remove the off-topic exchanges. mrmarcus deleted his own post, maybe wary of the sort of disruption that occured when I ran a series of somewhat similar "wot happened next?" threads some time ago.

good trading

jon

Thank you barjon. Why aren't you a moderator?

 

[Neoripley]

....the thread only fails if people care about outcomes exclusively, rather than why something has actually occured.....and also price qualities like velocity and price travel....so wether the instrument is known or not is irrelevant if full explaination is given and your more concerned with learning. Posting just random guesses has no value but ego fluffling...BTW..i realised it was euro half way thru my writings...it makes little difference as i gave the logic to get there...i was not goin to state it as euro as i was left with 2 options from my typical analysis, euro and gb...but i knew it was euro.i did not look at the outcome until after completition...wether this is believed or not is irrelevant ...as i was trying to help educate not become a hero...i have my trading accounts for that it if i needed any exalting.......

??:| ?

mr.marcus, are you a soothsayer? p.s. no offence, but when I read your posts my brain recoils and tries to hack an escape through the back of my skull. And I start to lose consciousness. I'm not sure why that is. Perhaps I'm just too thick to understand the esoteric and mysterious nature of the markets. Perhaps your postulatings are way over my head but are easily understood by others on this and other planets, I don't know. Perhaps I am doomed to failure because I can't grasp most of your ciphering, but that's ok.

EDIT (addition):

.....if you understand the forces beneath price creation you will be able to repeat the same trades over and over with immense accuracy and not be reliant just upon abstract concepts like trendlines,indicators etc....

okey dokey... But what if you're only half right like you were in your previous post before you deleted it? It was good but it wasn't 'immensely' accurate. I mean, let's be fair. But this thread was simply a TA exercise so you were off topic anyway.

Besides, I didn't start this thread for an ego trip. And the trades were not based on a 'random guess'. This setup was identified using sound technical methodology. It was also a genuine and sincere interest to share and even help in some way if I could because I know there are people on this forum who are struggling to understand and apply even some of the basic principals of this subject but who also take it very seriously and are putting time and effort into trying to understand. I think most people appreciate the sharing of ALL information, ideas and experiences which they can then verify and use to enhance their trading if they so choose.

 

[cr6196]

shame u decided to delete that post marcus...was good

 

[Mr. Charts]

I'd like to have seen mr. marcus's post as well - I always like reading how his mind works.
I'm sure he must have had very good reasons to remove it, though.
Richard

 

[robq]

http://www.trade2win.com/boards/forex-discussion/19625-forex-volume.html

 

[Neoripley]

Time for a commercial break...

YouTube - Hilarious Budweiser Commercial

 

[lurkerlurker]

??:| ?
Perhaps I am doomed to failure because I can't grasp most of your ciphering, but that's ok.

EDIT (addition):
But what if you're only half right like you were in your previous post before you deleted it? It was good but it wasn't 'immensely' accurate. I mean, let's be fair. But this thread was simply a TA exercise so you were off topic anyway.

Besides, I didn't start this thread for an ego trip. And the trades were not based on a 'random guess'. This setup was identified using sound technical methodology. It was also a genuine and sincere interest to share and even help in some way if I could because I know there are people on this forum who are struggling to understand and apply even some of the basic principals of this subject but who also take it very seriously and are putting time and effort into trying to understand. I think most people appreciate the sharing of ALL information, ideas and experiences which they can then verify and use to enhance their trading if they so choose.

You are out of order making accusations as to the motives of mr.marcus.

You ought not to boast about your own motives as you have not done the work required to be successful in this profession - you have not earned the right to teach or give advice, and would do better to help yourself before you can be in a position to help others. You do not make progress by disparaging those who strive to improve themselves and offer genuine help to others.

All information is not equal, and attacking someone who has made a valuable contribution because it is "off topic" and not conforming to your treasured "simple TA" does not benefit you or other members, and is extremely disrespectful.