What is price action line? how is that determined?
what is a tweezer ?
what do you mean by retesting the MAs ? you mean when an MA crosses another MA? or when the candle wick sticks up through the MA ?
We will go over these in more detial but first I just want to get some posted to have them here then I will pick over them with you guys…
The charts are certainly interesting looking, though it might help if you had us color code each MA. I decided to do the SMA’s in red and the EMA’s in teal. That made for an interesting visual pop as I noticed the EUR/USD pair bouncing off the teal MA line repeatedly.
Still too new to know what to do with this though. I anxiously await your next post sir 
As long as you know what color the Ma’s are on your charts you should be ok. On my charts they are listed on the edges. Plus from the text and the circled areas you should be able to figure out the 2 I was tallking about on this chart…
As far as knowing what to do with any of this I agree ,We aren’t there yet that was my whole purpose of doing this was to reveal this in a more understandable fashion so the pieces are being shown in a certian order. It is also a new concept even to older traders and may take some effort if you want to really understand this. But I always try and explian things in a simple fashion that most can understand.
Hang in there we will be getting to the good stuff soon but without the bases of the matter you would really be lost later…
Ken :confused:No rush mate, I plan on spending part of the weekend scrolling back through the history on a few pairs and observing the charts.
superb information Kenneth, thanks.
I had a brief look at charts regarding the counter trend trade when recent price closes above/below 35ma - seems a bit iffy whether price returns or not, and certainly not when strongly trending - would you say that is generally true - obviously I’m looking at past history of closed cnadles - perhaps that bears no relation when price is current - I shall observe.
Happy trading to you.
You are correct we aren’t there yet but the 35/50 cross is a retracement trade it can be at a high or low but normally at a retracement level. You can still get a trade off the 35/50 cross but it normally a retest trade of a breakout. Hope this helps. We will be getting to that soon.
I am hoping people are looking at the way the MA's and price are interacting. That is why I am moving slow here.
We will pick up speed soon though …
This week I took all my indicators off of my charts and set up the sma/ema and daily pivots, read through your information…I can say I seem less stressed, I’ve cut down on my contract sizes, what I’ve noticed is I’m seeing more of the big picture (I normally look at 3 different time frames), I think my indicators gave me tunnel vision…we will see how it goes, but so far interesting.
do you enter your trades on 15 minute charts?
Mostly yes. But using all the time frames to make the choices. A retracement into a 1 or 4 hr wick can give you a good entry as well but normally the 15 min gives you a clearer picture . But if your a absenty trader you would use your higher time frames to choose were to place your PO’s (Pending Orders)
We will be covering all this soon…
I set up my charts with all the support and resistance from the higher frames as horizontal lines on the 15 minute. It looks like when you have a break “close” below or above line and the next level is 50 or so pips away it is a safe entry. Is that somewhat correct?
We use the S/R lines to be targets to be interested in then we use our lower time charts to confirm our entries to get quality trades . We do use the S/R lines for profit targets also when trading in a trending market away from the MA’s …But we are skipping way ahead here…
We will move along pretty quicklly this weekend… Hard to do this and trade fulltime… LOL
thanks for reply, good of you to take the time to put this together - while you are trading too, must be time consuming and is much appreciated.
cheers
Set up my charts, gonna keep reading this thread, thanks for sharing Ken.
Here is a example of how you can find your S/R areas. This is a post from another trader… There is always many ways to do anything whatever is best for you is what is right.
Not sure about everyone else, but with the EJ and GU moving the way it has over the past day or two, I saw some nice opportunities to play the direction after the reversal was reversed.
I made a couple of stupid mistakes playing the actual reversal, but that is just my psyche trying to over trade.