dr.blix
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in fact ignore this question timsk ('yay!' he says!), as i haven't properly read the pdf you posted yet
in fact ignore this question timsk ('yay!' he says!), as i haven't properly read the pdf you posted yet
timsk
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Evenin' doc,in fact ignore this question timsk ('yay!' he says!), as i haven't properly read the pdf you posted yet
I very nearly replied to your earlier comment before reading this and I was about to say something along the lines of either my logic and reasoning in the pdf has failed to convince you or I haven't explained the differences very clearly. So, I'm mightily relieved you've posted this as I really don't want to go through it all again! That said, if there's something in the pdf that requires further clarification - I'll do my best to oblige.
Tim.
tenbobtrader
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tomorton
good post on the other thread the other day by the way, requires a drag and drop over to Jons proper thread (one on range)
dragging it out keeping everyone on the hook, long hot summer
waiting and watching
NDX & OEX almost double top
volume picked right up on NDX on the approach, appears to have dropped right off on OEX
just looking how the ftse will trade US movements myself = which way will it gap
sure not been doing much intra day of late or have we all been spoiled last year
Andy
good post on the other thread the other day by the way, requires a drag and drop over to Jons proper thread
(one on range)dragging it out keeping everyone on the hook, long hot summer
waiting and watching
NDX & OEX almost double top
volume picked right up on NDX on the approach, appears to have dropped right off on OEX
just looking how the ftse will trade US movements myself = which way will it gap
sure not been doing much intra day of late or have we all been spoiled last year
Andy
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tenbobtrader
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Drag and dropped
Good Swing thread topic until the range breaks .. USA
I am out for a few days so .... coast clear tim
it was a real good answer / post tomorton
might save somebody plenty of the hours new trader refers to in his post or at least direct them better anyway
http://www.trade2win.com/boards/forex-discussion/65506-accumulation-distribution.html#post813524
"I will give you an answer but I know you won't like it. You want someone to tell you that all you need is this indicator or that indicator or to draw a pretty coloured line here and there....that is what you want isn't it? You want someone to tell you in the matter of a few posts how to make millions! Well, sorry to tell you, it isn't that simple.
What you need to do is spend 10-12 hrs/day 5 days/week watching the instrument you wish to trade and have your brain engaged at the same time. Observe and take notes, observe and take notes. After 6-9 months of this you might feel confident enough to put money on your figuring. Trade with a tight stop. Keep doing this until you are profitable. Trading is simple really...."
NT
"Hi roshannaidu - I don't think there is a consistent way to tell, but I'll be happy if someone can tell us how its done.
My questions to you are, what do you intend to do with this skill, and do you really need this skill to allow you to do it?
I assume you mean to anticipate the direction of the break-out and enter at the furthest possible point on the opposite side of the range. Whereas the conventional teaching is that its good to be long at the bottom of the range and short at the top but do get out at the extreme: repeat as often as you can, as long as the range is deep enough, then get in with the trend after the break-out shows itself.
I am interested if you wish to do something unconventional - that could be a way towards exceptional opportunity. "
Tomorton
"Originally Posted by roshannaidu
I am having trouble though when the market gets into a ranging period.
do you recognise the ranging period post or during? I think, maybe, you need to work on that ? first as your answer may not lay within volume analysis the way you think or have been told.....define a ranging period define what comes before the range, at exactly what point, what bar, what time frame, you see a "range"
....maybe, not intantly assigning an action to smart money, i mean, dont box where and when you think smart money is active...... "
Joules MM1
I would add this from the CBOT site ~
"A balanced Market begins with the end of a trend.
Each succeeding day adds to the balance until a new trend begins.
The trend beginning is observed as a breakout from the balanced distribution.
A single day session may or may not be a valid locator of value. Value determined from a three day Overlay is far superior.
The trader must be prepared for either a trending or congesting market.
The market generated data gives the support price, the resistance price, and breakout points.
Markets tend to run and pause in all time frames.
Starting from a balance, a market will test the balance limit, then breakout starting a trend.
Then the trend slows, testing the propensity to continue the movement.
Finally, the next balance forms. And so it goes as long as the market exists.
A day trader is very interested in the run-pause picture within the day, There can be several run and pause phases within a day.
Identify key reference points for trading action.
The day activity is taking place within the context of the longer term [multi-day] auction"
have a good weekend and good trading next week
Andy
Good Swing thread topic until the range breaks .. USA
I am out for a few days so .... coast clear tim
it was a real good answer / post tomorton
might save somebody plenty of the hours new trader refers to in his post or at least direct them better anyway
http://www.trade2win.com/boards/forex-discussion/65506-accumulation-distribution.html#post813524
"I will give you an answer but I know you won't like it. You want someone to tell you that all you need is this indicator or that indicator or to draw a pretty coloured line here and there....that is what you want isn't it? You want someone to tell you in the matter of a few posts how to make millions! Well, sorry to tell you, it isn't that simple.
What you need to do is spend 10-12 hrs/day 5 days/week watching the instrument you wish to trade and have your brain engaged at the same time. Observe and take notes, observe and take notes. After 6-9 months of this you might feel confident enough to put money on your figuring. Trade with a tight stop. Keep doing this until you are profitable. Trading is simple really...."
NT
"Hi roshannaidu - I don't think there is a consistent way to tell, but I'll be happy if someone can tell us how its done.
My questions to you are, what do you intend to do with this skill, and do you really need this skill to allow you to do it?
I assume you mean to anticipate the direction of the break-out and enter at the furthest possible point on the opposite side of the range. Whereas the conventional teaching is that its good to be long at the bottom of the range and short at the top but do get out at the extreme: repeat as often as you can, as long as the range is deep enough, then get in with the trend after the break-out shows itself.
I am interested if you wish to do something unconventional - that could be a way towards exceptional opportunity. "
Tomorton
"Originally Posted by roshannaidu
I am having trouble though when the market gets into a ranging period.
do you recognise the ranging period post or during? I think, maybe, you need to work on that ? first as your answer may not lay within volume analysis the way you think or have been told.....define a ranging period define what comes before the range, at exactly what point, what bar, what time frame, you see a "range"
....maybe, not intantly assigning an action to smart money, i mean, dont box where and when you think smart money is active...... "
Joules MM1
I would add this from the CBOT site ~
"A balanced Market begins with the end of a trend.
Each succeeding day adds to the balance until a new trend begins.
The trend beginning is observed as a breakout from the balanced distribution.
A single day session may or may not be a valid locator of value. Value determined from a three day Overlay is far superior.
The trader must be prepared for either a trending or congesting market.
The market generated data gives the support price, the resistance price, and breakout points.
Markets tend to run and pause in all time frames.
Starting from a balance, a market will test the balance limit, then breakout starting a trend.
Then the trend slows, testing the propensity to continue the movement.
Finally, the next balance forms. And so it goes as long as the market exists.
A day trader is very interested in the run-pause picture within the day, There can be several run and pause phases within a day.
Identify key reference points for trading action.
The day activity is taking place within the context of the longer term [multi-day] auction"
have a good weekend and good trading next week
Andy
Last edited:
Cheers Andy.
I am awaiting developments (principally US employment stats). I won't be reading these, the city boys can read them and make their move, I will go along with what they say. But I'm not going long today whatever happens: if the market tanks this afternoon, I will go short on the breach of Wednesday's low - I think its not strictly a three-day swing high on Sharescope (only two higher range days and two drifters from the last swing low) but it works on ADVFN and is near enough for me.
I am awaiting developments (principally US employment stats). I won't be reading these, the city boys can read them and make their move, I will go along with what they say. But I'm not going long today whatever happens: if the market tanks this afternoon, I will go short on the breach of Wednesday's low - I think its not strictly a three-day swing high on Sharescope (only two higher range days and two drifters from the last swing low) but it works on ADVFN and is near enough for me.
tenbobtrader
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Tomorton
still watching USA
NDX still sat nice, fast mark down right off open (same the rest) the others look like they will open tomorrow at support (possible) then flat line !
will check vol on NDX at the db / same with SPX etc
ftse into its lows of day flagg"y range"y thing
confess do not like short even with an early morning breach of the lows on the ftse, if about in the pm could get tempted to long enter one of them
pays ya money makes ya choice
good look whatever
Andy
still watching USA
NDX still sat nice, fast mark down right off open (same the rest) the others look like they will open tomorrow at support (possible
) then flat line !will check vol on NDX at the db / same with SPX etc
ftse into its lows of day flagg"y range"y thing
confess do not like short even with an early morning breach of the lows on the ftse, if about in the pm could get tempted to long enter one of them
pays ya money makes ya choice
good look whatever
Andy
rathcoole_exile
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something about them being ungrateful dirty rebels ? :whistling
tenbobtrader
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if thats the case ~
BIG gap open must be booked for monday 1st thing
trade safe, have a good wk end
Andy
BIG gap open must be booked for monday 1st thing
trade safe, have a good wk end
Andy
Also, I see today's negativity as opening the completion of the S&P's H&S right shoulder. The index may not drop immediately next week to 800, but any failure of a rally to surmount 930 pretty soon would be very bearish and points at 800. After spending most of May and half of June just ranging into another damn triangle that doesn't terminate as it should this is more like it!
I also see the suggestion of a small-scale almost symmetrical triangle, based on 19/06 and apexing at 29/07. Typically (if there is such a thing for these) this would break out downwards between 20/07 and 23/07. But this would suggest the FTSE will need to range for another 10 days, which I find hard to believe, given the bearishness of the US TA.
dr.blix
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we could have had them too if it wasn't for the sodding french...
imagine how many barrett holmes estates we could have jammed into virginia!
tenbobtrader
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impacted ?
it just trades the price it should have traded in the morning session but in a manner most do not like
jonboy123 - pretty much, yes. Its not a direct and simultaneous reaction but the FTSE does not tend to move in conflict wth the US indices. I don't know if the Dow or the S&P is the better indicator for what the FTSE will do - I fluctuate between the two but prefer the S&P.
