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Nice longs on EU and AU H1 engulf

also GOLD TYPE 2
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Nice trades 60:
One question of the 15 min commando, sorry if it's basic but I'm slow sometimes. You said swing high, then 3 lower candles that can be bullish or bearish. The signal candle is the candle that closes back in the direction of the 50ma. You then trigger trade one pip above the signal candle. Is the signal candle the 3rd candle if it closes in that direction or do you have to wait for the 4th. Sorry about the newbie question, I appreciate your help.

Jim
Quoting bigjim1958
Nice trades 60:
One question of the 15 min commando, sorry if it's basic but I'm slow sometimes. You said swing high, then 3 lower candles that can be bullish or bearish. The signal candle is the candle that closes back in the direction of the 50ma. You then trigger trade one pip above the signal candle. Is the signal candle the 3rd candle if it closes in that direction or do you have to wait for the 4th. Sorry about the newbie question, I appreciate your help.

Jim
the 3rd candle can also be the signal candle....
GOLD type2 entry H1
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this time gold weekly ....
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Trading is a delicate balance of Strategy , Money management and Psychology
Quoting oneuniverse
this time gold weekly ....
how nice does that look...A1 signal we're going long
Quoting Trendylines
I like the money management of this strategy, but the exit strategy may need some improvement. No strategy is perfect any way especially for discretionary trading.

Thanks a lot for sharing this system

TL
Hi , I have been trading price action setups for quite a long time. I will tell you 2pips of my knowledge

First thing market does not know time frames like M1 to H1 and so on, it is a CRAAAZZYYY beast ticking continuously from one point to another and we technicians have artificially dissected it into TIME FRAMES like NEWTONIAN SCIENCE.

Market does not care or know every body's stoploss or TP or pending orders. It just moves fast or furious or deadly boring in either ways. But yes fast and furious moves are few compared with boring moves. So the point is it can either hit your TP or Stoploss or hover between.

Now when you enter by the engulfing method, the chances of immediate or fast movements are very less. This means that either the Stoploss or Take profit getting HIT immediately is a low probability thing.

This is my personal observation that

1) If there is not movement in first 4 to 5 bars after entry, I will wait for 1:1 R.

2) If there is no movement in first 7 to 8 bars after entry, I will get out at BE or very negligible loss.

3) If there is big movement in first one to three bars after entry, I will not quit at 1:1R, rather i will wait for more than 5 bars and see the exhaustion in price on that time frame ( exhaustion means two or three bars forming range or lack or movement ) In this way I have can make sometimes 5R , 6R or 3R and so on.

4) Just dont place stoploss exactly below H/L of signal candle, give it some room as per the ATR / Your Broker / News affect / Session timing


So the thing is following the market's post action, we don't get rigid about the risk/reward ratio and we are in flow with the market not attempting to control it with our smaller minds but rather accepting it's FLOW without any biases or rigidity



Winston
Trading is a delicate balance of Strategy , Money management and Psychology
Quoting 60minuteman
how nice does that look...A1 signal we're going long
yep
Trading is a delicate balance of Strategy , Money management and Psychology
60M revision is excellent but it does require some time in front of the screen...I trade the 6 majors and I can do a lot in a 15M time frame."

TSD, could you advise those 6 majors which are doing well for this strategy ? Thanks.
Wait-Execute-Manage (:waiting: - the longest part)
Hi Fellows , thanks for the thread 60MM , you rock man !
My question is in connection with the inside bar entry nr. 3 (I read it somewhere in this thread but cannot remember where)
Is somebody using it? How does one apply it with this strategy?
Cheers
JB
Hi 60MM , sorry for the previous post of mine. I now recognize that the inside bar method was something California mentioned way back in post 1675 and got nothing to do with this thread . My apologies !
EU H1 last week
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Quoting JohanB
Hi 60MM , sorry for the previous post of mine. I now recognize that the inside bar method was something California mentioned way back in post 1675 and got nothing to do with this thread . My apologies !
Johan, no problem, remember the important thing is

1. we have a thrust in the trend direction,
2. price retraces (its looking for the buyers/sellers to get interested again)
3. we get some sort of indication that the trend is resuming (upto you pins, engulfs etc etc)

if you just do that and let a few winners run... thats all you need to do.

have a peek at the chart above... see points 1 to 3?
AJ H1 last week... great results... look how the losing trades didnt fit with the ideas i mentioned above (and have through the whole of this thread)

white arrows mark all valid signals that triggered on the next bar.
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works on all markets..

DAX30 last 2 weeks
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Quoting 60minuteman
works on all markets..

DAX30 last 2 weeks
Hi 60,

Great post.... I really want to try this system in demo. Can you please elaborate on what type of stops you use at present? Also, do you generally use S/R line to limit trades or stick to fixed R:R.

Thanks,
k
Quoting kashTrader
Hi 60,

Great post.... I really want to try this system in demo. Can you please elaborate on what type of stops you use at present? Also, do you generally use S/R line to limit trades or stick to fixed R:R.

Thanks,
k
stops go above the signal candle +spread (sometimes if the signal isn't the swing high i will put it over the swing high) just want to add to that... generally the good entries will be new swing high/lows anyway

So many ways to deal with TP, but what ever you do, try and find something where you at least are in with a chance of the big R multiples,

trailing stops behind the high of the last closed H1 is a favourite of mine,

I also like to aim for daily s/r lines, then if price action keeps closing in my direction i stay in....

Some people like to use ADR...staying in until the end of the session works well too

really its down to you to find what feels good for you....
not been trading GJ... but the Yen pairs gave some lovely trending wins with huge R multiples

really is as simple as following 3 simple steps... get good at that then learn how to take the counter moves too
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Quoting 60minuteman
stops go above the signal candle +spread (sometimes if the signal isn't the swing high i will put it over the swing high) just want to add to that... generally the good entries will be new swing high/lows anyway

So many ways to deal with TP, but what ever you do, try and find something where you at least are in with a chance of the big R multiples,

trailing stops behind the high of the last closed H1 is a favourite of mine,

I also like to aim for daily s/r lines, then if price action keeps closing in my direction i stay in....

Some...

Thanks... Which timeframes are the best you find ? 1H ?
Quoting 60minuteman
Nice longs on EU and AU H1 engulf

also GOLD TYPE 2

Hi mate - are you drawing these blue and red arrows on yourself? if not what template is that? Entries look spot on there. Its not the commando indi is it? It looks different to mine.
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