Market Discussions

The monthly chart shows you seem to have some corrupted Mega price cache.

It should look like the one I have posted some time ago.
I have double checked mine by deleting cache and reimporting the generated files (I am using your same script) and it still produces the same chart I posted back at the time.

As additional proof, you can check the bar before the monthly bearish pin bar all at the top: there should be a full bar (like in my chart) because price had to climb up there with a big bullish bar. Your chart shows an empty space.

Said that, check your upper trend line and you'll see how it more or less matches the one I posted myself, so you did it right!
The lower trend line, instead, is a bit wrong. Diagonal trend lines must only hit the candle wicks (unless some very rare cases called "advanced trend lines" but we are not in the case).
You can "feel" you are drawing it wrong because price seldom creates diagonal RMs / patterns with diverging boundaries, it likes to create parallel (diagonal but parallel) trend lines and form what we call "flags" and "channels".

Finally, the blue RM has to hit the *candle bodies* because it's a static aka "horizontal boundaries" RM. The upper resistance should be lower and touching the candles upsides.

The weekly chart is almost perfect. You just have to "unstretch" it so that the bars look natural. Stretched bars tend to drive to very nasty mistakes. Look at my Mega post linked above for a mostly functional bars width to see a faithful representation of price.

Off topic and trolling removed.

Let's continue this thread with some more constructive replies. If you have something to say or to ask, please do it in a constructive and polite way.

This thread is quite interesting to follow and it should stay this way, thank you.

Here are a monthly and weekly chat off a RL currency.

Anyone able to read what all those little arrows and stuff want to tell? It's all been told in previous articles.

Yes, this is a big, fat spit in the face of the Efficient Market Hypothesis but hey, markets don't care about thick glasses economists.

Monthly chart.
Weekly chart.

Just another example

It's been a while I last posted something here.

So here's a RL trade made following precisely this method that is currently still running and being documented and proven since yesterday both on a private forum (which I can't link here or I breach the EULA) and since early today on a public forum.

It's part of an experiment my teacher started, to teach traders how to "see" higher time frame scenarios even without being able to look at charts so I only posted the daily chart.


At first the chart looks quite basic. I did not even remember to clean up and delete the old blue rectangle and other lines. Just ignore everything except the rightmost part (covering the last week).

Now let's overlay some bits based on using this trading method and we get this second screen shot (translation into English of what posted in the above linked thread).

There's a RM being formed above RN 74, which is also a monthly level (determined with the ways explained in previous posts).

We have a pin bar (PB) closing above the monthly level. It's a bullish PB in trend both with the weekly and monthly trends.

As shown in previous posts, the PB first target is the high of the previous bar, which coincides with the RM resistance. The stop loss has to be put below the PB as shown on the chart (it's being used as trading platform so you see the actual RL buy orders).

After about a day the situation is this. The first buy order (that got triggered into a trade) has been closed and partial profit (70%) taken. Trade is now profited and also free to do whatever. If price comes back down I'll just keep the 70% I cashed in else I'll also make additional profit.

Notice how, if anyone would have bought EURJPY based on this post at the time I posted, by this very minute would have made 244 pips, which may translate in thousands and thousands euros / dollars of profit.

Two great joys today!

First your liking of this thread and now CCP Quant (works with Dr Ejyo) greatly honored me with this mention:




First of all I have to say that more than half of the praise for this whole new forum thread is to be given not to me but to the trading method inventor, called FXGroup. His original thread (in Italian, English thread) is an inspiration for a group of people who are under his teachings since more than a year. Some of them had awesome results.

And then I want to thank CCP Quant, because of his work and because I feel he got the same passion for markets data mining and analysis. The markets are an awesome representation of us human beings swapping feelings (the ultimate power behind the markets), studying them is knowing us.

It's a bit off topic but seeing the markets "live" like this is too awesome to let it pass.

Look at this animated 3D gif showing what happens when price (the rectangular shape at the top) declines.

What it calls "levels" or "depth of markets" is more or less the EvE buy / sell orders list you see in the market window.

That's a recording, so it may pertain to any past price motion.

Also, "bubbles" are what I call "head and shoulders" / "double tops" / "triple tops" depending on their shape and are some of the most lucrative and quick earning inversion patterns in a good trader's arsenal. They are the "sell high" portion of a market, which for us traders is GOOD. We (well, the largest ones) are the needle.

Oddly enough nobody calls "bubble" the opposite situation, that is extreme low price formations known as "inverted head and shoulders", "double bottom", "triple bottom". Those work almost in the same way, just mirrored, and are the "buy low" part of trading. We and our liquidity are the air pump there for the new balloon forming up.

The OP in Nov 2012 managed 100B off investors, earning about 5% in 2 weeks (nobody else has done that, for those amounts they pay 2-3% a month tops), has some investments running and a loan service that 2 days ago got 2 more billions available because of the performance with one sale.

But easily Google / EvE-Search found hard numbers are not someone's forte, eh?

+1

I'm a RL trader (forex and precious metals). I always wondered if the Eve markets could be traded similarly. Good to see someone posting resources on this topic.