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wiseambitions wrote:FWIW - What market commentators mean:
Offers:
Sell Limit orders waiting to be filled, they can be represented by people willing to join (sell) the market at such level, or people willing to take their buy-position profits (target point, a buy TP is a sell-limit, aka sell to close the buy).
Bids:
Buy Limit orders waiting to be filled, they can be represented by people willing to join (buy) the market at such level, or people willing to take their sell-position profits (target point, a sell TP is a buy-limit, aka buy to close the sell).
Both Offers and Bids act as a barrier, the bigger the amount of offers/bids, the bigger the probability that price will stop around such levels, and reverse.
Stops:
"Stops noted below a level", sell-stop orders waiting to be filled at a certain level, such stops can be stop-losses of current buyers, or can be sell-stop orders of people willing to sell on a break of such level.
"Stops noted above a level", buy-stop orders waiting to be filled at a certain level, such stops can be stop-losses of current sellers, or can be buy-stop orders of people willing to buy on a break of such level.
Stop orders act as a catalyst, contrary to limit (offers-bids) orders (that act as a barrier), stops when filled consume further the bids-offers, sometime creating a "popping" effect, when the amount of stops are bigger than the the bids/offers on such level and such bids-offers are consumed, price move immediately on the next layer of bids-offers, creating a "spike", a fast move.
My only trade today, still open, is a long on aussie, H1
It was about 40 pips up a few minutes ago but looks like on opening the 1800 candle there was some retracement
I'm holding tight pro tem
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I wish more people would come on here to share something on their journals
[center]IF YOU CANT EXPLAIN IT SIMPLY YOU DON'T UNDERSTAND IT WELL ENOUGH (Einstein)
1% daily gain, compounded for 250 trading days, (approximately one year) would produce 1103% account growth[/center]
"Markets reflect the positioning of the sum total of investors – they are not driven by something an individual investor knows that the rest of us don’t, but they do to an extent reflect what investors think other investors are thinking and so can diverge in the shorter term from the economic fundamentals."
EURUSD m5 S1. Closed on fibonacci line as shown. Just around 0845GMT and all over in a few minutes.
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I wish more people would come on here to share something on their journals
[center]IF YOU CANT EXPLAIN IT SIMPLY YOU DON'T UNDERSTAND IT WELL ENOUGH (Einstein)
1% daily gain, compounded for 250 trading days, (approximately one year) would produce 1103% account growth[/center]
"Markets reflect the positioning of the sum total of investors – they are not driven by something an individual investor knows that the rest of us don’t, but they do to an extent reflect what investors think other investors are thinking and so can diverge in the shorter term from the economic fundamentals."
AudUsd. m1. s1 Another 10 pips, entry was after break of aims after blue dot after AO crossed upwards after a dip into the red which ewaves labelled as a w3. This took a long time coming, over an hour. But I was not nail biting due to the small SL and the price action being above the purple
NB 14.21GMT. Sorry I chopped off too much on the left of the attached chart and it doesnt show the entry point.
31 pips today from 3 episodes. Just wish I could keep going like this. Sometimes I think I've forgotten how to trade, and that means I need to break away from the screen and refresh my eyes and brains. Trading H1 requires a lot of patience, admittedly some of today's were taken on rules of faster timeframes.
PS I'm looking at H1 and the momentum of various crosses. Seems like it could be ages before AO comes back near zero, and so I might as well go out to a work appointment and forget it. I love being able to go out without any open positions.
You do not have the required permissions to view the files attached to this post.
I wish more people would come on here to share something on their journals
[center]IF YOU CANT EXPLAIN IT SIMPLY YOU DON'T UNDERSTAND IT WELL ENOUGH (Einstein)
1% daily gain, compounded for 250 trading days, (approximately one year) would produce 1103% account growth[/center]
"Markets reflect the positioning of the sum total of investors – they are not driven by something an individual investor knows that the rest of us don’t, but they do to an extent reflect what investors think other investors are thinking and so can diverge in the shorter term from the economic fundamentals."
wiseambitions wrote: Seems like it could be ages before AO comes back near zero, and so I might as well go out to a work appointment and forget it. I love being able to go out without any open positions.
This last bit of your post above, that I quoted here above, are powerful words. You looked eWave/Ao/AIMS Wave whatever you like to call it, and found that histogram of most pairs was far from ZL and could take a few candles (i.e. hrs since each candle equals to 60min i.e 1hr). So you decided to do something else. This is the beauty of H1. I like to find gems within ordinary stuff.
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
wiseambitions wrote: Seems like it could be ages before AO comes back near zero, and so I might as well go out to a work appointment and forget it. I love being able to go out without any open positions.
This last bit of your post above, that I quoted here above, are powerful words. You looked eWave/Ao/AIMS Wave whatever you like to call it, and found that histogram of most pairs was far from ZL and could take a few candles (i.e. hrs since each candle equals to 60min i.e 1hr). So you decided to do something else. This is the beauty of H1. I like to find gems within ordinary stuff.
Thanks Immy, it takes a new user weeks months and more maybe to learn the sense of an S1 entry, which is to wait for the market to come back into balance before hoping to catch a surge/impulse/breakout or whatever you want to call it
AO/ewaves/aimswaves, even MACD, RSI and other oscillators would do the same, and tell us when the market comes back to balance point for a given timeframe. A sleepy alligator (convergence of several moving averages) is also an indicator of this, which might be the same as tightening Bollinger bands or as with seed concept, small candle height.
Patience is a virtue, possess it if you can, it's seldom found in woman and never in a man (woops I shouldnt let our side down!) It is certainly worth waiting until the right setup develops, and yes the thing with H1 is you might have to go away and wait half a day for the right time.
You do not have the required permissions to view the files attached to this post.
I wish more people would come on here to share something on their journals
[center]IF YOU CANT EXPLAIN IT SIMPLY YOU DON'T UNDERSTAND IT WELL ENOUGH (Einstein)
1% daily gain, compounded for 250 trading days, (approximately one year) would produce 1103% account growth[/center]
"Markets reflect the positioning of the sum total of investors – they are not driven by something an individual investor knows that the rest of us don’t, but they do to an extent reflect what investors think other investors are thinking and so can diverge in the shorter term from the economic fundamentals."
I was caught out on this one but glad I had a tight stop loss.
CABLE h1
Retail sales +1.7% quite high and a surprise
You do not have the required permissions to view the files attached to this post.
I wish more people would come on here to share something on their journals
[center]IF YOU CANT EXPLAIN IT SIMPLY YOU DON'T UNDERSTAND IT WELL ENOUGH (Einstein)
1% daily gain, compounded for 250 trading days, (approximately one year) would produce 1103% account growth[/center]
"Markets reflect the positioning of the sum total of investors – they are not driven by something an individual investor knows that the rest of us don’t, but they do to an extent reflect what investors think other investors are thinking and so can diverge in the shorter term from the economic fundamentals."
The aussie is one which has been on the rise all the week, in fact plenty indicators say it is on the turn, but no, up it goes some more.
The chart shows the last 15 minutes, I am on a long again, S2, break of aims level (resistance formed at 0600 today)
You do not have the required permissions to view the files attached to this post.
I wish more people would come on here to share something on their journals
[center]IF YOU CANT EXPLAIN IT SIMPLY YOU DON'T UNDERSTAND IT WELL ENOUGH (Einstein)
1% daily gain, compounded for 250 trading days, (approximately one year) would produce 1103% account growth[/center]
"Markets reflect the positioning of the sum total of investors – they are not driven by something an individual investor knows that the rest of us don’t, but they do to an extent reflect what investors think other investors are thinking and so can diverge in the shorter term from the economic fundamentals."
An unusual feature of aussie this last 5 or 6 days
In terms of AO/Ewaves/MACD etc H1, 34 periods, it is one wave 3, which has not gone below the zero line since the trend started.
However in terms of alligator, green line, and dot alerts, which are superimposed with vertical vines (entry alert v5 here), there have been about 8 alternative signals triggered. Of course none of the sell signals would have been profitable, the only disqualification to them apart from the high AO, in spite of the breaking of Aims support levels (price dropping out of grey box)
would be the purple line.
A lot of traders in the blogs had been caught out by this, thinking of course that it was time for a reversal, to the extend some were thinking the big dogs were reading the blogs and buying on the dips. Half of which is probably true.
We don't often see these unbroken trends carried through for so many days, but EURAUD would have actually been a wonderful sell for the last two full weeks!
I think the lesson in it is to do with the purple line!
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I wish more people would come on here to share something on their journals
[center]IF YOU CANT EXPLAIN IT SIMPLY YOU DON'T UNDERSTAND IT WELL ENOUGH (Einstein)
1% daily gain, compounded for 250 trading days, (approximately one year) would produce 1103% account growth[/center]
"Markets reflect the positioning of the sum total of investors – they are not driven by something an individual investor knows that the rest of us don’t, but they do to an extent reflect what investors think other investors are thinking and so can diverge in the shorter term from the economic fundamentals."
I entered a small long trade on dollar swisse in the UK afternoon on Thursday. Went to bed wondering if it was a silly idea, as the signal was a bit weak, however on the turn of 0800 just now I saw 18 pips and decided to take them off the table!
Hey, one pip an hour is still progressive bricklaying.
Can't say dollar swisse is my favourite, it was highlighted that the ADR of this one is never particularly exciting in terms of pips which might be available, and to be quite honest I struggle to understand how these two "safe" currencies relate with one another in terms of 'risk on' and 'risk off'
You do not have the required permissions to view the files attached to this post.
I wish more people would come on here to share something on their journals
[center]IF YOU CANT EXPLAIN IT SIMPLY YOU DON'T UNDERSTAND IT WELL ENOUGH (Einstein)
1% daily gain, compounded for 250 trading days, (approximately one year) would produce 1103% account growth[/center]
"Markets reflect the positioning of the sum total of investors – they are not driven by something an individual investor knows that the rest of us don’t, but they do to an extent reflect what investors think other investors are thinking and so can diverge in the shorter term from the economic fundamentals."
