LeMercenaire wrote:Mr. Hyde wrote:So I sent a quick write up on UC last night to another member. He seemed to like and thought I should do a little write up on what I see and how/why.
After I stopped laughing cuz I never thought someone would really want my advice on reading charts, I figured maybe start a new thread, dedicated to mostly price action. I don't want to do it unless other members are going to particapte and actually post charts and not just hit the like button (I hate that button, don't just like my post tell me what you like and what you think). Kreslik is so dead. I posted those post throughout yesterday hoping to get some convo going but kind of fell dead. I know everyone has there separate threads and what not so who knows. Plus I know a lot of the vets having been posting forever and forums can at times be a distractions.
But let me know what you guys think.
Dayuum - I just hit the ''Like'' button as well...now I feel so conflicted
I try and post as much as I can as I do enjoy doing it but I must admit, I am always aware of not stepping on others' toes by jumping on all over the place (says he posting about all over the place on another thread).
To try and justify my post here then, I have been keeping an eye on a long-term CJ set-up as it builds. I have jumped in-an-out of it as it has been forming, getting in on retraces, bounces, all the usual suspects, as and when I am in the right place at the right time.
This is what I am looking at just now...
CADJPYWeeklyreacgingvinterestinglevel2ndMar18.png
Price reaching the smaller Demand Zone would seem to indicate initially that we are ready for a turn, however on the lower time-frames, that zone is made up of layers of smaller, thin, zones. These will often be blown right through, especially if the Japanese Govt start playing silly b****ers.
Going against normal practice and jumping up time-frames however, shows that we are in fact getting classic Higher Lows in all the right, expected, places...
CADJPYMonthlywayupthere2ndMar18.png
At the time of writing, the lower time-frames are of no help (and I'm talking more my kind of info, S&D, not so much PA) and so to me, it's still a case of ''hurry-up-and-wait''. However the way CJ moves, things can change fast. Monday could be interesting and I really don't think I'll have the whole week go by without some kind of involvement from me.
Haha yea I saw u did that to. No worries. Feel free to step on my toes anytime. I have a feeling I could learn a lot from ya. Im about ton run out the door but I want to get this posted so it just gonna be a quickie. How do you do S/D. Sam Seidian style or your own? Do you included fundamentals in your trading. Do u factor oil into your cad trades. Would this be considered Demand on the daily for you. Do u use an indy for your S/D zones or how do u mark them.
Thanks.