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PA only thread (NO indicators)

Price action

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592 replies to this topic

#1 Tripack

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Posted 02 October 2015 - 03:14 PM

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Placeholder for a binary options PA only thread, everyone's welcome but no indis allowed :)
Any kind of expiries allowed but will probably myself focus on 15-30m expiries.
Only indicator allowed is volume because it is static and not dependant on previous data.
Please post your trade ideas with a logical explanation on why trades were taken at valid PA areas and not around BS random candle moves.

P.S. Trading PA is not a "strategy", as such I doubt it can be coded, so let's focus on manual trading, no deviations into all kinds of additions please.
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#2 neddihrehat

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Posted 02 October 2015 - 03:45 PM

At last, a Pure PA thread.


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#3 neddihrehat

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Posted 02 October 2015 - 04:33 PM

I have some questions regarding this thread before me/someone else posts something stupid.

 

0. Any kind of chart is allowed, Bar/Candlestick/Renko/OHL/Line, right? Then what about HA, its not an Indi, rather a charting system.

1. Is Market Profile/Volume Profile allowed?

2. Is Fib/Trendline etc chart elements allowed?

3. Patterns like Pin bar and Engulfing allowed?

3.1. Double tops, bottoms, Triangles etc allowed?

3.2. Harmonics are a different level stuff, and I think they should have a different thread, but are they allowed here too?

4. Manually drawn Support resistence and Supply Demand allowed?

5. What about Market gap? Is that allowed too?

6. SMA, EMA etc are Disallowed, right?

 

Basically that sums up 80% questions, I think.


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#4 Matt-Dawg

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Posted 02 October 2015 - 04:47 PM

I have some questions regarding this thread before me/someone else posts something stupid.

 

0. Any kind of chart is allowed, Bar/Candlestick/Renko/OHL/Line, right? Then what about HA, its not an Indi, rather a charting system.

1. Is Market Profile/Volume Profile allowed?

2. Is Fib/Trendline etc chart elements allowed?

3. Patterns like Pin bar and Engulfing allowed?

3.1. Double tops, bottoms, Triangles etc allowed?

3.2. Harmonics are a different level stuff, and I think they should have a different thread, but are they allowed here too?

4. Manually drawn Support resistence and Supply Demand allowed?

5. What about Market gap? Is that allowed too?

6. SMA, EMA etc are Disallowed, right?

 

Basically that sums up 80% questions, I think.

 

i think from 0 - 5 should be aloud.. anything other than those shouldnt be aloud.. Lets see what Tri says..


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#5 888mdo888

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Posted 02 October 2015 - 05:14 PM

this is good idea.. I will follow this thread


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#6 yawyks

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Posted 02 October 2015 - 08:18 PM

Hey guys, make this the best place - a home - to learn PA for fellas like me who knows nuts about PA - (believe me makes me and hameed groggy whenever we attempt it with h2x style.)

Post many chart examples of the PA trades you made and write comprehensive commentary why those trades were taken. Since I am a learner of this stuff, hope you don't mind I ask challenging questions whose purpose is not to belittle but to find out the whys behind the thought process.

Thanks for your contributions, for bearing with our goofiness and for teaching us PA stuff that some of you guys have shown that you're real good at. Lastly, don't limit it to BO only, do include forex ideas too.
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#7 Matt-Dawg

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Posted 02 October 2015 - 10:34 PM

wow yawyks your comment reeks with sarcasm bro..lol

#8 hubba hubba

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Posted 02 October 2015 - 10:59 PM

Please post your trade ideas with a logical explanation on why trades were taken at valid PA areas and not around BS random candle moves.

P.S. Trading PA is not a "strategy", as such I doubt it can be coded, so let's focus on manual trading, no deviations into all kinds of additions please.

 

what ! no BS random candle moves ?  :o

i thrive over those moves  :D


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(This is me) http://www.binaryopt...ctions/?p=71806

 

(Rules to HH style)  http://www.binaryopt...5-mins/?p=29766

(Chart illustration)  http://www.binaryopt...5-mins/?p=69230

(HH style in a glance for new users)  http://www.binaryopt...5-mins/?p=65109

(My trading journey Jan-Jun 2017) http://www.binaryopt...ed/#entry104700

 


#9 Tripack

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Posted 03 October 2015 - 06:19 AM

I have some questions regarding this thread before me/someone else posts something stupid.
 
0. Any kind of chart is allowed, Bar/Candlestick/Renko/OHL/Line, right? Then what about HA, its not an Indi, rather a charting system.
1. Is Market Profile/Volume Profile allowed?
2. Is Fib/Trendline etc chart elements allowed?
3. Patterns like Pin bar and Engulfing allowed?
3.1. Double tops, bottoms, Triangles etc allowed?
3.2. Harmonics are a different level stuff, and I think they should have a different thread, but are they allowed here too?
4. Manually drawn Support resistence and Supply Demand allowed?
5. What about Market gap? Is that allowed too?
6. SMA, EMA etc are Disallowed, right?
 
Basically that sums up 80% questions, I think.


Basically the idea is to use a bare chart (bars, candlesticks, HA, whatever) and you can draw as much as you want, manually. That includes all the drawing tools (lines, fibo, fork, channels and you name it), which are in fact no indicators but simple tools. Of course using such tools you can absolutely define pattern or formations like you mention.

The idea is to keep things very simple, so things like harmonics (I doubt you want to draw those manually), market profile and similar will not only clutter your charts but will also interfere with the idea of trying to find interesting PA areas in advance based on something that exists vs a hypothetical invisible level that should trigger price movement. This thread is not about arguing about any method, instead trying to work on tangible chart data. KEEP IT SIMPLE, do you really need harmonics to get you an ITM ? Do you really need MAs ? That is the purpose of this simple thread.

@yawyks, why is the thread about bins ? Because the is already an excellent spot forex thread on here and nothing prevents us from posting PA only stuff on there too right ?
Also the challenge is a bit different with timing expiries correctly vs profit taking and cutting losses, and like Master Swede already mentioned the challenge there is not always to find a good entry but when to let run etc.
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#10 Tripack

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Posted 03 October 2015 - 06:32 AM

what ! no BS random candle moves ? :o
i thrive over those moves :D

I'm sorry, it was not my intention to sound disrespectful, and I think you know how much I respect your contributions and approach :)
It's just that the aim is to try and get people trade "blindly" and to make them realize they maybe are not so blind in the end.
While your approach relies heavily on PA I think you want to see how one (or more) candle evolve during it's lifespan once your attention has been triggered by an indicator, and there's nothing wrong with that as you proved it many times already.

Here the apprach is to pre-define interesting trade opportunities in advance, but who knows it can maybe make a serious combination :) people are free to try out too themselves, just that here indicators are not welcome.
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#11 fasih

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Posted 03 October 2015 - 06:38 AM

to start the posting of trades , here is the one i took yesterday .. price was trending down hard , and it halted a bit at the level i have drawn, b4 punching down hard again.. i knew that was a significant level.. then the green bar came bouncing up and was highly reluctant at the s turned r line, hence the put..

 

http://snag.gy/iIQba.jpg


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#12 hubba hubba

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Posted 03 October 2015 - 06:54 AM

I'm sorry, it was not my intention to sound disrespectful, and I think you know how much I respect your contributions and approach :)
It's just that the aim is to try and get people trade "blindly" and to make them realize they maybe are not so blind in the end.
While your approach relies heavily on PA I think you want to see how one (or more) candle evolve during it's lifespan once your attention has been triggered by an indicator, and there's nothing wrong with that as you proved it many times already.

Here the apprach is to pre-define interesting trade opportunities in advance, but who knows it can maybe make a serious combination :) people are free to try out too themselves, just that here indicators are not welcome.

 

hey no Tripack. not offended in anyway. just messing around  :P  :D  :lol:


(This is me) http://www.binaryopt...ctions/?p=71806

 

(Rules to HH style)  http://www.binaryopt...5-mins/?p=29766

(Chart illustration)  http://www.binaryopt...5-mins/?p=69230

(HH style in a glance for new users)  http://www.binaryopt...5-mins/?p=65109

(My trading journey Jan-Jun 2017) http://www.binaryopt...ed/#entry104700

 


#13 neddihrehat

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Posted 03 October 2015 - 07:08 AM

I'm gonna report these two guys to Mods... Hubba Hubba for messing around and Tripack for taking that seriously...

I have some trades which I took past week, and shared those in the shoutbox a while ago, but waiting for next week.


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#14 Tripack

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Posted 03 October 2015 - 07:50 AM

A couple of examples.

 

LZmzoGj.png

 

This one was a live trade that I managed to capture on screenshot as it happened. This level was set up way in advance.

 

 

34LqUFB.png

 

This one is just an example about drawing in advance a potential level of interest with serious odds that it somehow reacts because it is highly visible.

 

 

aFVJzOK.png

 

Finally this is a simple trend following example for which you can draw a level in advance.


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#15 888mdo888

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Posted 03 October 2015 - 08:57 AM

ok. now I learn to see another approach of  snr level. because usually I just look for breaking the level. now I see the pull to the level signal



#16 andynm

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Posted 03 October 2015 - 12:13 PM

@Tripack: I'd love to learn more about how you use volume, I'll wait for future examples :)

Do you always draw S&R lines on your trading timeframe, or do you look for them on higher timeframes too?


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#17 -el-

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Posted 03 October 2015 - 02:28 PM

8ffbd374a11c024c7f30d1bf88e10b27.pngMaster T, wht volumes actually do in this kind of setup, i mean how to use them? and bout the chart, any particular reason u didnt trade on that yellow line zone?

Thanks 


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#18 Tripack

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Posted 03 October 2015 - 02:55 PM

8ffbd374a11c024c7f30d1bf88e10b27.pngMaster T, wht volumes actually do in this kind of setup, i mean how to use them? and bout the chart, any particular reason u didnt trade on that yellow line zone?
Thanks


Hi el and andynm, do not focus on volume, in fact I can even remove volume completely.
In this particular trade volume had nothing to do with it.
Volume can be interesting to watch when you want to confirm a trend entry like in my 3rd example due to effort vs result, but not a necessity nor a strategy as such, it is more of a potential confirming factor in some cases.
For a short read on the subject, look for a pdf called "volume and divergence" by Gail Mercer, although based on futures and exchange based assets, the concept is interesting.

The reason I did not consider the yellow zone is because I was sleeping at that time :)
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#19 -el-

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Posted 03 October 2015 - 05:34 PM

6e3430085c0169de0e54055e575cb2da.png

 

Please bear with me with some very basic and silly questions.

Assuming that u PUT on the arrow (no.3), for 4 bars expiry and may be this was a M5 chart, like u usually do, then:

a. ok this was a down trend, how to initiate this kind of trade/setup? draw that support line (no.1) first and then wait how price behave when they touch it? if so, wht kind of behavior we should pay attention to?

b. wht was ur analizing process and conclude not to trade on the No.4 zone?

c. same with point b, wht was ur analyzing process to decide that price on No.2-No.3 zone will bounce back?

sorry for the bad structure of my language, hope u can understand them.

Thanks


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#20 Tripack

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Posted 03 October 2015 - 06:10 PM

Hey el, good questions, I’ll try to explain how I see this the best I can.
This example is a zoomed in portion of a random trade opportunity that I took to illustrate the thread and was not a live trade. But …

a. You say it was a down trend, are you sure ? How can you be sure the orange area there is not exactly sitting at the bottom of a range, without zooming out enough ?
Your first job is to make an assessment of the situation by trying to determine if the asset is trending or ranging. I agree that this can be discretionary and subject to judgement mistakes.

b. Let’s assume that you decided it’s a downtrend with a lot of bandwidth below the price there, so you have “downtrend” in your mind, why the heck would you take a call at the no.4 zone ? If you think downtrend and decide to take a call, you are reducing your odds of landing an itm. Try to stay consistent with your rationale.

c. Same with point be, you decided you were looking for puts and here you are looking for a good excuse to take it. Ok maybe that won’t happen before the context changes, but at least you have a planned trade in mind. Plan your trade and trade your plan.
Of course due to many factors, random or not, you may need to cope with an otm and that’s a big chunk of our job too…


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