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@  traderpusa : (27 May 2018 - 10:35 AM) Usd is already starting to absorb June rate hike. But as you say let's see
@  kalc : (27 May 2018 - 09:01 AM) https://www.mql5.com...rading-point-of
@  kalc : (27 May 2018 - 09:01 AM) and the DXY
@  kalc : (27 May 2018 - 08:58 AM) https://www.mql5.com...rading-point-of
@  kalc : (27 May 2018 - 08:48 AM) USD needs to correct too at some point also
@  kalc : (27 May 2018 - 08:48 AM) hmmm we'll see TP. Above 1.19 is long for me still waiting on it to find the bottom
@  traderpusa : (27 May 2018 - 05:53 AM) weekly view : https://gyazo.com/d7...7ab3f5c8ae97a76
@  traderpusa : (27 May 2018 - 05:51 AM) Euro a bit touch and go next week : that is a big weekly level, so I think a bit more down before up : https://gyazo.com/a5...e58dce3aeea2e21
@  traderpusa : (27 May 2018 - 05:16 AM) hmmm. Sounds similar to my wife :D
@  happyjas : (27 May 2018 - 05:09 AM) :lol: :lol: :lol: :lol:
@  happyjas : (27 May 2018 - 05:09 AM) they don't like me as a dealer, coz i literally "took-away" their money..
@  happyjas : (27 May 2018 - 05:08 AM) blackjack, ultimate texas hold 'em, bacarrat, spanish 21, crazy 4 poker..
@  happyjas : (27 May 2018 - 05:08 AM) lot of players on every table i dealt, they lost their money
@  happyjas : (27 May 2018 - 05:07 AM) "this is what i've been waiting for.." :lol: :lol: :lol: :lol: :lol:
@  traderpusa : (27 May 2018 - 05:07 AM) how is the work ?
@  traderpusa : (27 May 2018 - 05:06 AM) sunday, need some fun until Formula 1 race Monaco lol
@  traderpusa : (27 May 2018 - 05:06 AM) :P
@  happyjas : (27 May 2018 - 05:06 AM) and seen your.. :lol: :lol: :lol: :lol: :lol:
@  happyjas : (27 May 2018 - 05:05 AM) just arrived home
@  happyjas : (27 May 2018 - 05:05 AM) done dealing in casino.. i read it ktp :lol: :lol: :lol: :lol: :lol:

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How to pic tops and bottoms


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#1 shaileshm

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Posted 17 January 2017 - 03:44 AM

Hey guys, I was chatting with someone who uses tops and bottoms for trading. I was wondering what exactly is required to know when the market has topped or bottom and has reached exhaustion. As I am working on reversal trading currently, this topic is quite interesting to me.

 

I think in principle it very difficult, if not impossible to detect tops and bottoms. So how do you detect a top/bottom and what are the indis etc required ?


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Know Thy Setup. Know Thyself.


#2 traderpusa

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Posted 17 January 2017 - 04:04 AM

Good question, and a million answers to that.  Some use 123, Eliott Waves, etc etc.  For me, I trade a retrace and not a top or bottom.

Perhaps David can share light on how he picks those top and bottoms.


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#3 Tripack

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Posted 17 January 2017 - 12:56 PM

Yeah, that's the million dollar question too :)
Unless you have a good quality crystall ball at your disposal you can't. Tops and bottoms are subjective to the context you are looking at and your reality. At the same price level you are watching for a top, someone else using a different timeframe ot zooming out more will see this as a simple retracement and some else again will see this as a not even close to a top of range area...
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Taking a forum break. Enjoy the flame wars, the trolling, the hate & the boasting.

#4 Svalbard

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Posted 17 January 2017 - 01:21 PM

can't help here...my wife doesn't let me pick my bottom
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#5 BrianC

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Posted 17 January 2017 - 01:35 PM

The truth is that there aren't any tops and bottoms... in the market I mean ;)


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#6 homero15

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Posted 17 January 2017 - 02:11 PM

Hey guys, I was chatting with someone who uses tops and bottoms for trading. I was wondering what exactly is required to know when the market has topped or bottom and has reached exhaustion. As I am working on reversal trading currently, this topic is quite interesting to me.

 

I think in principle it very difficult, if not impossible to detect tops and bottoms. So how do you detect a top/bottom and what are the indis etc required ?

SOMETHING TO THINK ABOUT

 

UbuOYzs.png



#7 joe0074

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Posted 17 January 2017 - 02:43 PM

I use zigzag indicator.

#8 holli

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Posted 29 July 2017 - 05:01 PM

In this matter a lot depends solely on your trading time frame. This should be your starting point when choosing the right indicator.



#9 shunmugapriya

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Posted 24 December 2017 - 11:55 AM

Hey guys, I was chatting with someone who uses tops and bottoms for trading. I was wondering what exactly is required to know when the market has topped or bottom and has reached exhaustion. As I am working on reversal trading currently, this topic is quite interesting to me.

 

I think in principle it very difficult, if not impossible to detect tops and bottoms. So how do you detect a top/bottom and what are the indis etc required ?

http://www.binaryopt...e-4#entry137203

This Range of next bar  concept can help you out to find exact top and bottom in any TF (by comparing with other Higher/lower time frame)



#10 shaileshm

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Posted 24 December 2017 - 12:37 PM

http://www.binaryopt...e-4#entry137203

This Range of next bar  concept can help you out to find exact top and bottom in any TF (by comparing with other Higher/lower time frame)

 

 

I dont do reversals too much these days. But one of the best ways to get a top/bottom is to look for a volume spike in correspondence with other strong r/s levels or PA analysis like formation of M, W patterns etc.Sometimes a sudden drop in volume can also indicate good reversal point. Also its much safer to trade tops/bottoms on a ranging than a trending market. In trend i just try to go with the flow.


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Know Thy Setup. Know Thyself.


#11 wags

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Posted 24 December 2017 - 05:00 PM

I think tripack really hit the nail on the head here

 

so what is a top or bottom

 

Is it HOD or LOD

is it hitting resistance

is it hitting support

is it hitting high of channel in uptrend or hitting low of uptrend channel

is it hitting low of channel in downtrend or hitting high of channel in downtrend

is it OB or OS

 

and then add different time frames to the equation

 

The thing is all these get broken and probably around 50% of the time

 

but its what happens when price hits these areas which can make the difference

 

price can continue in any direction as long as it wants only the human brain says different

 

It also depends on what your strategy is are you looking for a long, medium or short term trade



#12 wags

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Posted 24 December 2017 - 05:05 PM

I dont do reversals too much these days. But one of the best ways to get a top/bottom is to look for a volume spike in correspondence with other strong r/s levels or PA analysis like formation of M, W patterns etc.Sometimes a sudden drop in volume can also indicate good reversal point. Also its much safer to trade tops/bottoms on a ranging than a trending market. In trend i just try to go with the flow.

 

is it safer than trading bottoms in an uptrend and tops in a downtrend?



#13 shaileshm

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Posted 25 December 2017 - 07:33 AM

is it safer than trading bottoms in an uptrend and tops in a downtrend?

 

yes i would say so.


Know Thy Setup. Know Thyself.





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