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(Verified) Lazy Larry discussion thread.


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5039 replies to this topic

#41 venkatredy

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Posted 02 July 2018 - 11:43 PM

hi  traderpusa

will u pls tell full form of

 

pwl ,pml,pdl,pdh,pwh,pmh  (Lazy Larry DWM 2018 )

 

may be my post look silly for you but i dont know


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#42 traderpusa

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Posted 03 July 2018 - 12:00 AM

P = Previous

D = Daily

W = Weekly

M = Monthly

H = High

L = Low

 

so PDH means Previous Day High or yesterdays high.

 

It is very convenient to see where price currently is in relation to last week, last month, etc.

In other words, you can also use it as trend gauge.  If price is above previous monthly high, means trend is up.

 

On top, for scalping, often you will see price react around PDL, PDH, so it's a good entry point for scalps.

 

As I mentioned before, the high and low is based on your broker open time.  So they can be different on different brokers.

 

There is no GMT offset in there, although I am studying some solution.  But seems a bit complex lol.

 

DH and DL are current day Daily High or Low.  It just gives indication if price is making a new intraday high or low, so as such

can not be used for entry.

 

I should add I like this indicator a lot, because it shows the actual turning points of price, not some calculated values (if you turn off the pivots lol).


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#43 traderpusa

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Posted 03 July 2018 - 05:37 AM

108f2f0f142d79711c2136b411486b33.png

 

Today was pretty interesting.  Merkel managed to save her German government after getting agreement on immigration with her SDU partner.

So Euro went up for a while.

Knowing this is political and not economical/fundamental news, I was pretty sure price would bounce on the first level.  Trend line in this case.

So read the daily news of the asset you are trading (in my case Euro, and Germany is biggest economy of Euro zone), and assess the importance 

(fundamental or not).

So today, we had nice example on how to use a trend line as support/resistance.


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#44 Deuyren

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Posted 04 July 2018 - 12:55 AM

Hi Traderpusa can you go through with us a live trade if you spot any in the london session and tell us how you would approach it please.


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#45 traderpusa

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Posted 04 July 2018 - 02:27 AM

896204946547591a0c83ca605fd5df17.png

 

Went short at PDH, and again when London open failed to break FF high.

I have video of this, not sure how this is going to help.


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#46 traderpusa

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Posted 04 July 2018 - 03:44 AM

Binary options trade from today, from someone using Larry setup :

 

Break and retrace to last sup/res level, following trend :

 

44aa60e8058af4267ff1bd81ce958f24.png

 

 

The last support/resistance or supply/demand level is all about seeing on the chart where the money is.  Where are people buying and selling.  Those are the levels you want to trade.


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#47 traderpusa

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Posted 04 July 2018 - 04:43 AM

3fdca1ee509fcf589b306f7cebe55ac7.png

 

Followed this guy all the way down to bottom trend line.


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#48 venkatredy

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Posted 04 July 2018 - 06:52 AM

hi traderpusa

can u please post some example to understand . 



#49 LorenzoPP

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Posted 08 July 2018 - 02:48 PM

thanks traderpusa now we just need to automate it



#50 shoortyking

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Posted 10 July 2018 - 04:24 AM

Hit twice MH. Went for it after MA's(blue-white) crossed cause it's pullback on higher TF and not a trend. Not sure if it follows traderpusa rules.

LKslTFk.jpg


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#51 traderpusa

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Posted 10 July 2018 - 04:54 AM

*
POPULAR

A double top is always a good indication for trend running out of steam or for pullback/retrace possible.

 

Just by visual judging from your chart, I would go long around S2 again (keep that level in mind).

 

I actually only trade the retrace to double top if the higher TF has a different trend.

.

Trading is a simple game of statistics, what trade has a higher probability. 

 

When H1 for example has uptrend (higher high, higher low) and H4 has downtrend, and H1 hits a strong

level on H4, then I will take the short trade on a double top.

 

Hope this makes sense, if not, ask me. 


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#52 jeedy22

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Posted 10 July 2018 - 06:16 AM

Wish you could share more examples with clear explanation.
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#53 venkatredy

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Posted 11 July 2018 - 12:49 AM

 

 

When H1 for example has uptrend (higher high, higher low) and H4 has downtrend, and H1 hits a strong

level on H4, then I will take the short trade on a double top.

please post screen shot example


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#54 traderpusa

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Posted 11 July 2018 - 12:59 AM

1f981fcaa9feed0027cb9ee21d7b6cb8.png


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#55 jeedy22

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Posted 11 July 2018 - 02:30 AM

Thanks a lot... Well explained
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#56 traderpusa

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Posted 11 July 2018 - 03:39 AM

d3199f97ceaf165d97a7c966d4108a9f.png


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#57 Rayndeer

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Posted 11 July 2018 - 08:00 AM

d3199f97ceaf165d97a7c966d4108a9f.png

 

Few questions:

 

- Once the support on the left has been formed, what was the reason you did not take a sell on the first touch return (where it says Res in the middle)?

- After the first res, you wrote "lower high". I am not sure if that is classified as a lower high since a new LL has not been established yet. Do you agree?

- The Res on the right, why is that a resistance? The point where you wrote "lower high" broke the resistance and then fell below it again. Thus, it makes is still valid to trade it? If so, would you trade it and see it as first touch or did you enter with confirmation? Obviously, it is not fresh anymore.

- On the far right, you wrote lower high once again. How is it a lower high if a new LL hasn't formed, thus making it valid? 

- On the far right, you wrote double top. Did you trade it at first touch, the trade on the far right? Because the double top is on hindsight. How did you know it will be a double top?

 

Just few questions that boggles my mind :-) Hope to hear back from you!



#58 traderpusa

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Posted 11 July 2018 - 08:16 AM

Few questions:

 

- Once the support on the left has been formed, what was the reason you did not take a sell on the first touch return (where it says Res in the middle)?

- After the first res, you wrote "lower high". I am not sure if that is classified as a lower high since a new LL has not been established yet. Do you agree?

- The Res on the right, why is that a resistance? The point where you wrote "lower high" broke the resistance and then fell below it again. Thus, it makes is still valid to trade it? If so, would you trade it and see it as first touch or did you enter with confirmation? Obviously, it is not fresh anymore.

- On the far right, you wrote lower high once again. How is it a lower high if a new LL hasn't formed, thus making it valid? 

- On the far right, you wrote double top. Did you trade it at first touch, the trade on the far right? Because the double top is on hindsight. How did you know it will be a double top?

 

Just few questions that boggles my mind :-) Hope to hear back from you!

 

1. I only indicated todays trades

2. I don't consider LL necessary to create a LH.

3. The entry was still below the last LH candles, so part of the res for me.  I don't look for pip for pip res, as long as it is around there, i consider it same res.  

4. See 2

5. Yes, hindsight double top (there was ema high confirmation, which is not on this screenshot, put ema 50 high low on the euro h1 chart, and you will see).


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#59 Rayndeer

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Posted 11 July 2018 - 08:50 AM

1. I only indicated todays trades

2. I don't consider LL necessary to create a LH.

3. The entry was still below the last LH candles, so part of the res for me.  I don't look for pip for pip res, as long as it is around there, i consider it same res.  

4. See 2

5. Yes, hindsight double top (there was ema high confirmation, which is not on this screenshot, put ema 50 high low on the euro h1 chart, and you will see).

 

1. So a first touch trade would be good there?

2. Gotcha!

3. Okay!

4. Do you generally first touch trade 50 EMA?



#60 Rayndeer

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Posted 11 July 2018 - 08:51 AM

1. I only indicated todays trades

2. I don't consider LL necessary to create a LH.

3. The entry was still below the last LH candles, so part of the res for me.  I don't look for pip for pip res, as long as it is around there, i consider it same res.  

4. See 2

5. Yes, hindsight double top (there was ema high confirmation, which is not on this screenshot, put ema 50 high low on the euro h1 chart, and you will see).

 

1. So a first touch trade would be good there?

2. Gotcha!

3. Okay!

4. Do you generally first touch trade 50 EMA?






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