The idea's we trade by, so we never lose again. p2. The students become the masters

[Mr. Hyde]

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.

cadjpy-d1-fx-choice-limited.png (50.19 KiB) Viewed 2429 times

[PhilipLangford]

Do u factor oil into your cad trades.

Just an observation, UC has been in lockstep with oil over the past few days.
Commentary has been that CAD is tied to commodities.
At least for today factoring in oil saved me drawdown and possible an SL had I shorted UC, as there appeared to be that opportunity which got blown through.

[LeMercenaire]

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.

cadjpy-d1-fx-choice-limited.png

Kl kl I know of and have studied the Seidian style but, no, I don't use his techniques now. I used his and various other sources to teach myself how to identify and draw them myself.

Once I did that, I sought out the available indicators out there, narrowed it down to the two best ones and use them now. Because I know what I am supposed to see, I can spot if anything is off with the indi and if a zone has been missed. It's all about time-management, it's so much easier to use the indis.

As for fundamentals, again, I learned how to make use of that style of trading in my former life, as that is bog-standard practice. Now, I will not ignore the obvious but will not spend the previous evening and wee small hours running a work-sheet for the next day.

I will ALWAYS figure Oil into anything to do with UC. I have a whole method taught to me by my brother one lazy afternoon which scalps micro-divergence between the two. The two are inextricably linked.

It should also be noted that the JPY is also Oil-tied, so in the case of the above CJ trade set-up, it's doubly important that this is taken into account.

The Daily chart is certainly Demand...

CADJPYDailyyepthatsdemand2ndMar18.png (52.86 KiB) Viewed 2414 times

While on the subject of that CJ set-up, take a look at the second-cousin-twice-removed AJ. Very similar profile...

AUDJPYDailyasamirrortoCJ2ndMar18.png (53.54 KiB) Viewed 2414 times

On the other time-frames, the differences are there but still close...

AUDJPYWeeklyassimilarprofiletoCJ2ndMar18.png (50.19 KiB) Viewed 2414 times

AUDJPYMonthlylookupthere2ndMar18.png (48.09 KiB) Viewed 2414 times

The H4 however, which shows a whole lot of space below, would make me hang fire, at least for now.

[LeMercenaire]

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.

cadjpy-d1-fx-choice-limited.png

Kl kl I know of and have studied the Seidian style but, no, I don't use his techniques now. I used his and various other sources to teach myself how to identify and draw them myself.

Once I did that, I sought out the available indicators out there, narrowed it down to the two best ones and use them now. Because I know what I am supposed to see, I can spot if anything is off with the indi and if a zone has been missed. It's all about time-management, it's so much easier to use the indis.

As for fundamentals, again, I learned how to make use of that style of trading in my former life, as that is bog-standard practice. Now, I will not ignore the obvious but will not spend the previous evening and wee small hours running a work-sheet for the next day.

I will ALWAYS figure Oil into anything to do with UC. I have a whole method taught to me by my brother one lazy afternoon which scalps micro-divergence between the two. The two are inextricably linked.

It should also be noted that the JPY is also Oil-tied, so in the case of the above CJ trade set-up, it's doubly important that this is taken into account.

The Daily chart is certainly Demand...

CADJPYDailyyepthatsdemand2ndMar18.png

While on the subject of that CJ set-up, take a look at the second-cousin-twice-removed AJ. Very similar profile...

AUDJPYDailyasamirrortoCJ2ndMar18.png

On the other time-frames, the differences are there but still close...

AUDJPYWeeklyassimilarprofiletoCJ2ndMar18.png

AUDJPYMonthlylookupthere2ndMar18.png

The H4 however, which shows a whole lot of space below, would make me hang fire, at least for now.

AUDJPYH4alooongwaytogo2ndMar18.png (35.17 KiB) Viewed 2413 times

[LeMercenaire]

That last H4 addition edited funny in a separate post but you get what I mean.

[Leoheart]

That last H4 addition edited funny in a separate post but you get what I mean.

Hey Lem,

I grabbed this bit from your reply above:

"Kl kl I know of and have studied the Seidian style but, no, I don't use his techniques now. I used his and various other sources to teach myself how to identify and draw them myself."

Can you teach us to draw the zones ourselves? I assuming you have to start with a base candle?

Btw, I always feel as if Sam Seiden's teachings are abit subject.

[Mira]

That last H4 addition edited funny in a separate post but you get what I mean.

Hey Lem,

I grabbed this bit from your reply above:

"Kl kl I know of and have studied the Seidian style but, no, I don't use his techniques now. I used his and various other sources to teach myself how to identify and draw them myself."

Can you teach us to draw the zones ourselves? I assuming you have to start with a base candle?

Btw, I always feel as if Sam Seiden's teachings are abit subject.

Ok I'm not the best analyst on the board but i’d like to help when I can (IF I can).

I stare on closes of momo bars/big candles.
Drop one timeframe and adjust the lines to create a zone.

C0356743-7BDB-45CF-8904-3D6DE5B01298.png (52.63 KiB) Viewed 2322 times

I tested the method attaching a S/D indicator and the zones match wonderfully, all the times.

5B19E2E4-CD6A-4A42-BB13-7CC164D77660.png (59.12 KiB) Viewed 2322 times

My personal tips:

- Zones are ‘mainly spaced’ the same. (Thanks MO).
- Prefer supply zones above the 50% of the range and demand zones below the 50% (just put a fibo on)
- Midpoints/25%/75% of big candles could be S/D zones on a lower timeframe

[Leoheart]

That last H4 addition edited funny in a separate post but you get what I mean.

Hey Lem,

I grabbed this bit from your reply above:

"Kl kl I know of and have studied the Seidian style but, no, I don't use his techniques now. I used his and various other sources to teach myself how to identify and draw them myself."

Can you teach us to draw the zones ourselves? I assuming you have to start with a base candle?

Btw, I always feel as if Sam Seiden's teachings are abit subject.

Ok I'm not the best analyst on the board but i’d like to help when I can (IF I can).

I stare on closes of momo bars/big candles.
Drop one timeframe and adjust the lines to create a zone.

C0356743-7BDB-45CF-8904-3D6DE5B01298.png

I tested the method attaching a S/D indicator and the zones match wonderfully, all the times.

5B19E2E4-CD6A-4A42-BB13-7CC164D77660.png

My personal tips:

- Zones are ‘mainly spaced’ the same. (Thanks MO).
- Prefer supply zones above the 50% of the range and demand zones below the 50% (just put a fibo on)
- Midpoints/25%/75% of big candles could be S/D zones on a lower timeframe

Good stuff Mira. Thanks for sharing.

[LeMercenaire]

Spot on Mira. You have pretty much nailed it.

The issues I have with the Sam S. stuff is that I think he puts too much stock in really old zones, which to me are more like Support + Resistance lines.

Anyway, to build on Mira's thoughts, one way to build a zone is by looking for a large engulfing candle, showing enough oomph to turn the herd.

Classically, you will find that you'll be told the upper edge is to the wicks and the bottom edge to the body. I'm not as anal on that. Each to their own and all that.

You will also find that there are four ''types'' of formation on which you can build zones:

1: Drop into Base into Climb
2: Climb into Base into Drop
3: Climb into Base into Climb
4: Drop into Base into Drop

You'll see and recognise this as contraction into breakout etc etc et al.

I am the first to admit that I can see the zones without necessarily being able to explain why. I have always been good at pattern-recognition. So the way I learned the classic technique was to have the zones in front of me and then deconstruct them to find the reasons why they were drawn there.

[Mr. Hyde]

Wow nice little topic on SD going. Cool. I will propose some questions and scenarios latter this week to get your guys take on it.

Lem, have you noticed on UC does the dollar index trump oil in the pair of vice versa? Also yea on the CJ isn't Japan like the 2nd largest user of oil or something, hence why its such a good pair to watch (learned that while researching ML's). I like your hurry up and wait comment. I feel like a lot of pairs are either at a area or interest or just getting there which is holding me back from putting on any longer term trades with any conviction.

I never really looked or noticed that AJ and CJ move in step lock. Is this a pretty common occurrence in your experience.

Lem and Mira would love to see an actual chart mark up of a S/D trade taken.