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@  CRAIGL : (20 August 2018 - 11:53 AM) sorry eur/usd im talking about
@  CRAIGL : (20 August 2018 - 11:50 AM) 1.1450 and climbing to where u think guys 1.1500?
@  traderpusa : (20 August 2018 - 10:08 AM) either we get a double top with some serious retrace, or it breaks. wait and see
@  traderpusa : (20 August 2018 - 10:07 AM) i posted the chart with the levels i am talking about
@  traderpusa : (20 August 2018 - 10:07 AM) that's nice, already 25 pips.
@  CRAIGL : (20 August 2018 - 10:06 AM) i got a long going from 1.14098 so i hope ur right!!
@  traderpusa : (20 August 2018 - 09:47 AM) 1.1509 is the bottom of the long range previous weeks, so let's say 1.15
@  traderpusa : (20 August 2018 - 09:46 AM) if euro level breaks today, i will probably be going long tomorrow
@  traderpusa : (20 August 2018 - 09:09 AM) Lol. It has the X he wants
@  CRAIGL : (20 August 2018 - 09:07 AM) ok is it me tp XSR =extra strong resistence lol
@  traderpusa : (20 August 2018 - 09:02 AM) Maybe look for XSR not sure
@  traderpusa : (20 August 2018 - 08:40 AM) The x is just a zigzag. Forgot the exact name cause 4 years ago already. Any zz or fractal shows the same
@  ripxela : (20 August 2018 - 08:30 AM) Could you say the name of that indi so i dont loose hours searching for it my man? thanks
@  traderpusa : (20 August 2018 - 08:19 AM) Yeah I don't want to post cause the indi's are not important, can be found everywhere and I don't want to provide support
@  ripxela : (20 August 2018 - 07:49 AM) Hey @traderpusa long time no talk, would you mind sharing the green and red X indi you use? Thank you
@  Bigindoda : (20 August 2018 - 06:28 AM) waiting for breakout and retest 1.142 level
@  Bigindoda : (20 August 2018 - 06:27 AM) thanks tp
@  traderpusa : (20 August 2018 - 06:01 AM) excellent job
@  Bigindoda : (20 August 2018 - 05:59 AM) happy :lol:
@  Bigindoda : (20 August 2018 - 05:59 AM) total: +30 pip today

Photo

How to pic tops and bottoms


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12 replies to this topic

#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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#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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#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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#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.


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