Understanding price action

[Erin]

Oh wait - maybe I color where we see orders...but this is what this thread is about - how we see orders in the bars

 

[Erin]

good to see you back. what's your take on the $SPX going forward, any timeframe you like. Thx

Sorry not the same annotation from earlier...make sure I keep them from now on

 

[Erin]

cheers

 

[easymon1]

cheers

?

 

[rcsmie]

Im going to place a chart up showing the varies different levels that can form. Individual bar swap levels, groups of bars that swap, highs of bars that are showing a lower high form sell levels as well as higher lows demonstrate buy levels - it is not a trade - it just shows how to find levels

above is post #67 of this thread... still got a long way to go XDD
I got a question about the swap level you mentioned.
how does that work? how do I know when a level would be swapped?
does that just mean the demand(support) becomes supply(resistance) all of a sudden?

perhaps u'd explained it earlier or you'll explain it later down this thread.
I tried your strategy and it worked like magic. (on MES 6-20)
I can't say I fully understand the concept of demand/supply yet.
but i've had a real money trade that was closed within 30 sec with R/R of 12/12 ticks.
and a failed simulation with R/R of 12/26 ticks on MES 6-20.
however that would work if I give another 6 ticks to risks and use 18/26 instead my original 12/26.
The uptrend ended up with a 30 points(120 ticks) run!!!

here is the pic of my failed simulation

https://imgur.com/a/kEASqRO

I wish to learn more about this strategy using demand/supply.
please post more pic and explains how you identify the inbalance of demand/supply.

thank you so much Erin

 

[rcsmie]

Im going to place a chart up showing the varies different levels that can form. Individual bar swap levels, groups of bars that swap, highs of bars that are showing a lower high form sell levels as well as higher lows demonstrate buy levels - it is not a trade - it just shows how to find levels

I have an unusual request, can you switch to use 2 different colours as ur candle??
I'm colorblind and having problem identifying some of the colours.
Usually I had to switch the candle to a black and white or I'd use a dark blue with a light pink for the candles.
I read somewhere there're 5-10% of the people have varies degree of colorblindness in the populations. you'd really benefit people with the condition

again, thx for the knowledge and please keep posting

 

[rcsmie]

IMO, TA & PA both have this cultist following of people who somehow believe they've seen the light and need to share their born again beliefs to the rabble.
These cultists are stuck in a rut adamant their interpretation of bar by bar action or squiggly lines is the road to trading redemption.
This nonsense about every bar tells a story is typical religion, like the parables, 'an underlying reason' and lessons to be learnt.
You only need to look at some of the Al Brooks cultists to see they "truly believe" - while at the same time struggle with a gazillion posts about trading concepts, a whole heap of noise while treading water.

So on one side of the road is church of TA, other side of road is church of PA.
I'll remain a non believer, couldn't give a toss about beliefs, I have my quirky way of trading and just keep this to myself as it suits my personality.

Let's say 90% of the investor believe this TA crap and put down some buy orders when the price touches 14 EMA, will the price "magically" bounce back up??

now with proper r/r ratio set up. Can it be profitable. That's all I care about.

So, does TA not work? or it's just some people refuse to look at the reality?

 

[rcsmie]

Instead of making a big deal about terminology folks should have just taken the time to actually look at Erin’s charts. She defines “swap” terminology on her chart in her post #41. Look it up. I ain’t gonna tell it to you.

pardon my understanding, I don't really get what she meant by swap after reading post #41.........
Since now she's driven away by some members here, could you be very kindly to explain that or just what your understanding of swap might she meant?

thank you

 

[rcsmie]

Conventional wisdom in trading is dominated by myths and fuzzy thinking. The phrases "more buyers than sellers" and "more sellers than buyers" are part of the CW explanation of why price goes up and down. For that reason, I did highlight this mistaken viewpoint.

Any person can espouse whatever viewpoint he or she has about trading and disseminate it online. There are various motivations for doing so. You have yours. I was motivated by the desire to state the obvious about supply and demand which apparently is not obvious to everyone.

If I roll dice whenever a certain event happens on the chart and been making some money from it. and I'd like to share it with the world. what's wrong with that?
I think it's good that more people are willing to share their idea here. It may not work for you but how could you know that wouldn't work for other people?

Actually the name of the thread should have been Opening a can of worms. I anticipated that how we see buy and sell orders within the chart itself would be controversial. However I did not anticipate the reactions of members would be so strong. Baron has let me reactivate my membership to finish the thread. I have no agenda and nothing to sell. Its just an alternative view...or you can say an advanced view on supply and demand. I choose Technical Analysis as I felt this would be appropriate.

I replied to your old account about some questions, i hope you could answer with your new account

btw, I'm from Richmond BC. Good to see someone from my local community!!
glad you are back!!

 

[easymon1]

This thread is for the traders interested in reading a chart without using indicators or oscillators.

Erin
how bout one of your 'analysis especiales' on a sub-Ten minute chart of the nq2020 0616?
8:40 AM Forward to Noon are of high interest.
2:00 AM leading up to 9:AM would be interesting due to the different trader demographic taking part at those 'non-institutional' amateur hours.