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[GVI Forex 2]

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[GVI Forex 2]

Follow up —

Forex market lives to run stops.This may eem confusing but picking out likely levels where there are stops is a skill you can master. Just ask.

As this USDJPY chart show, stops were run above 146.15 but did not follow through and then backed down.

The price action may sseem confusing but there is a logic behind it.

[GVI Forex 2]

To be clear, only the blue and red lines are from the AT algo.

The yellow lines were drawn manually.

AT’s strength its in its uncanny ability to identify key levels and the horizontal lines that form patterns.

Look at this 15 minute USDJPY chart

Rising red lines showed momentum to the upside

146.15 was a target and a key level as can be seen on this chart.

[Belgrade Bobby]

As for the EURUSD –

This is so far a correction – as it can be just a sideways one, I would watch for those two Red lines below : sharp angle and horizontal one.

My personal style of trading differs from yours, and for me before I see Pattern emerging , I am flat.

But Buying on Angled Red line would be technically correct , with the Stop just below the second red line – horizontal one.

And for USDJPY, Buying till that Blue angled downtrend line. If it holds, again waiting for my patter and Sell.

Pretty simple really….I have an itch to incorporate that algo of yours in my trading, but hate changes of any kind 😀 Enough that I have to live with market changing all the time…

We’ll have to try to come up with a bit advanced version of it , incorporating my Patterns and MA’s J

[GVI Forex 2]

Or something similar but more defined in this USDJPY 1 hour chart

[GVI Forex 2]

Bobby, how would you evakuate this one hour EURUSD chart

[Belgrade Bobby]

Weekly FX Chart Outlook

Click HERE

[Belgrade Bobby]

As for the time frame that works the best with Continuation and/or Reversal patterns, although it works on all time frames , but bigger time frame – better / more sure results.

4H and Daily seem the best to trade on .

There are other chart patterns and formations  that are way more suited for smaller time frames and we’ll talk about it way later…

As for Gold – yes it should be considered a Bullish Rectangle – but mind you that I said pretty clear a day ahead that it’s gonna break it and go to the new high – and that was NOT based  on a crystal ball 😀 but on the above mentioned short term patterns that I have developed/collected over decades.

I need a full understanding of the market and charting from all the members to be able to explain/teach about it…So later J

[GVI Forex 2]

Bobby, great updates on reversal and continuation patterns

2 questions

1) What time frame charts work best for reversal and continuation patterns?

2) Is this daily gold chart pattern considered a rectangle continuation breakout? If so, is the target 2617 based on the 2349-2483 range?

[GVI Forex 2]

For more on reversals, see my latest update in Common Sense Trading

[David Shepherd]

Alright, I can’t wait

[Belgrade Bobby]

David, I will post several lessons in coming days about Formations and Patterns – this is just the basic stuff – once we pass the basic level, I’ll go with more specific things…

[David Shepherd]

Thanks for the explanation and I really love today’s lesson

[Belgrade Bobby]

HI Ahnal – Welcome ! Feel free to ask any question you might have – that will make it easier for us to teach you and help you.

[Ahnal Kathmandu, Nepal]

Hey! I’m Ahnal…and i am new in forex and i really want to learn it…hope i can learn lots of things hear..thank you

 

 

[GVI Forex 2]

Have you ever seen this disclaimer on a trading site;

Past performance is no guarantee of future results.

It is no difference with the so called order blocks.

Just because there was buying (or selling) at some level in a former trend, there is no guarantee that there will be buying (selling) this time as market conditions have likely changed.

[Belgrade Bobby]

David, I’ll try to explain it to you.

First of all, read what Jay wrote on the issue of so called “order blocks” – just scroll it a bit down.

I have no idea who came up with that story on order blocks, but it is a pure BS.

As for the liquidity that you are mentioning – there is a liquidity 24/7 – just sometimes it gets pretty high…Trying to figure out the reasons behind the move are not productive – it is never the same reason….and it is the past tense…

All the info on the Rate of any instrument is on the Chart – you just have to learn to “read” it correctly.

Look at the bigger time frames charts , like 1h , 4h and even daily…there you will find a reason for market not moving as you have anticipated.

You must stay away from the anticipations and go with the flow – meaning – detect the wave forming ( up or down) on the time frame of your choice and once you get a confirmation, go with it…

Stay on it ( the wave ) till your profit target is met.

To decide on the profit target, you start from your stop – if the stop is 5 pips, your target should be at least 10 pips.

That is the system.

But if you continue trying to predict the future, you gonna fail.

You should trade only what you see – not what you think.

[David Shepherd]

Which order block is valid?
And how to trade with order-block

[David Shepherd]

I saw this market as a bullish trend but it is an inducement because the liquidity above have not yet taken, so price is going there to pack people’s or trader’s stop losses, the chance direction to the down side to look for another liquidity, both internal and external, am I right? I just need more explanation

[Belgrade Bobby]

Ok Robinson – here comes the chart for you and below read what one of our crew members wrote just for you 😀

Continue reading HERE 

[Author]

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