Level in Level out

Hello and welcome to my thread. I am sharing my trading style that has been profitable for me for many years. It's simple, two lines where defines levels at Peaks and Valleys on H4 TF. The name of the thread says it all... I get in and out at these levels and here we go.
Sharing and trading alongside you all wonderful traders is the goal and pleasure of this thread.
Without further ado in all Plain chart:
* Level: Valleys and Peaks. (Draw the LV lines only from H4 TF)
* TF: H4.
* Stops: 30pips hard one. (30-40 pips trail for one-time to Breakeven)
* Orders: Limit only.
* Target: Opposite level, works for 3R+ most times.

I have learned sticking to a trading plan with discipline outweighs any of my market wisdom by interference, predictions, gut feel and etc... and that is the main challenge you will face with this system or any other system to be honest. There will be times when price runs through your limit order for a quick cold stop hit, Ouch!! but you atta be okey with that. There will be times you exit a trade for profit and get in on opposite way, but the run continues without you in it after stinging you for 30 on top, painful Ouch... but you gotta be okey with that too. You tolerate all that without stirring away from main pathway because you got your eyes on the big picture the weekly, monthly goal and not whale hunting... you know in the long run you will come out ahead. All that because you know market sideways and chops more than it trends. Don't Stire away, stay on path, Stick to The Plan... it's your only edge in the market. We as retail traders is served with pleasure of secondhand info... won't know until it's done!! whereas it will go up down or in circles.

I am sure there will be more details to be explained along the way which I will address on some live trades. I will post up my trades with chart displays as much as I could in timely manner. I am way out in the southern California with brutal time difference with most of the world.
What to expect is couple to a few trades per week and to average about 100 positive pips per week even if you net loss couple weeks in row, other weeks will make up for it.
Risk Management is the key here, 1%-2% at 30 pips hard stop.
I keep the same trade size for the whole week and set a new one for the upcoming weeks based on my available equity.
On the chart below its clear to see the levels and the small square boxes are entries.

Explanation about levels. Peaks and Valleys are simple to spot and most effective. Aggressive mid-range or mediocre levels may be less effective, visible on my chart, but massive profits do arise from these levels as well. I personally take them all but may not exit on all those because I like to make 3Rs minimum on each trade since they tend to be more jammed.
Also, another super important note on levels: effectiveness of any levels to me is no more than two weeks, period. I don't care how strong it was, after two weeks with No Reaction at it, is dead to me.
When to draw the LV line please draw it for two weeks' time... if there is a visit and a bounce you extend it for another 2 weeks from that point on.
I look for recent action on these levels.

Bottomline, there is no secret here, it's a simple straight forward one by trading the Levels anyone can see and spot, together with some discipline rules built around it. Your do diligent to the rules, plan and risk management will dictate your profitability, which is true for any system or style of trading in that sense.
Good news is this does not occupy much of your time, only a few hours a week is all necessary. I personally check the chart every 4hrs except the one time mid my sleep time, which is the important one on London session, Ouch lol... but it is what it is, I either wake up to a pleasant surprise or an unpleasant one... either way, the risk is well within means and it all averages out in the end.
Remember you trade to live and not live to trade.

All I ask is courtesy, etiquette, overall respect for a peaceful place to share and trade.

Best of luck.

ps) The nitty-gritty posts to read;
Posts: # 1 (must)... 4-7-20-39-40-43-62-66-68-74-84-96-102-232-244 (must)-276

Levels on sight with limit orders are:
9391 buy limits
9084 buy limits
10692 sell limits

GL.

Hi nadi-fx, thanks for sharing.
EURUSD alone or does it also use more pairs?
I understand that he uses any level marked on the chart to enter if he is given a 1:3.
It looks Interesting and a good time stamp to not spend all day in front of the screen.

Hi Gerval. Yes only e/u for several reason.
1. Because of using tight stop (30pips) so less wild wired moves, less stop hunting.
2. Reliability, 40% of all currency volume is on this pair, moves are meaningful.
3. Less screen time, checking on one pair vs several or more.
4. Most pairs are correlated on longer time frame anyways and dollar driven, so instead of splitting the load on serval or more pairs why not put it all on the most reliable and meaningful one.. less to watchdog.

I hope it helps.

Currently short from 9805 LV.
I would normally be short on this on its way up with sell limit but due to weekend on Friday i closed the hovering around breakeven and now since price looks to be resuming back to the LV I took it again with market order.
I normally close all open positions (unless in massive gain) and remove all order for over weekend time just to be safe if there is a Armageddon, you never know in today's world lol.

Great Thread Nadi!

Based on your first Post I can tell that you are a very experienced trader.

Everyone who visits this thread should take this guy serious and learn from his Charts!

____________

Could you elaborate more on how you draw your Zones?

I see a few squares and lines, how do they differentiate?
Your lines are sometimes neither on the body nor on the bottom of the wick. Are the lines exactly where you want to enter, or do they just visually show where you generally want to enter (around this area).

What if your desired 3R TP doesnt make too much sense as there is an important level at 1.5R? Do you take the trade? If yes, do you still use a 3R TP?

Thanks for taking your time to open this thread.

Good luck Trading.

Hi friend and thanks for kind words.
Getting ready to go to bed but I will answer this one.

Good observation on the LV lines. I don't use zones. I draw the lines based on the length of the wick and trade right at that level point bcz of my tight stops (30) I got to be precise and consistent to create discipline.
So, if the length of the wick is small to mediocre (2 to 10pips) I draw the line on the middle of it. If its large like 20 pips I draw it at 2/3 and if very large I draw it inside 10 pips. I cannot be too far from the peak, because there is always a chance of retest of the very peak and some before the bounce, so need to give myself the extra 20 pips from the peak to my stop level. However you will miss triggers by a few pips off or stops to be hit by a few pips bcz LV was off a bit and that's just part of the game. All I can do is to follow the same structure for proven consistent results to go by.

about profit taking on levels.. no level is important nor unimportant I treat them all the same.. I only pay attention to how jammed they are. if its not giving me the 3R I initially have the target at next level but if i see price is reacting to this mediocre level and not breaking through it then i just bank, but i give it a chance to break it. for example on the current short trade i got my tp at bottom level and not at the immediate one that is about 70 pips.

The small squares are the entries. just for my notes.

about position taking.. the target has nothing to do with me taking up on a level. I trade all levels bcz at any level price can bounce and take off is mass and I hate to not be on that bus.

I hope it helps
GL.

Reading the thread I saw that an operation like the one he took was prepared, this time SL.
Prepared the following levels and testing in demo.
It treats the levels the same, sl and tp whether or not there is a trend?, as in the current case.
One last thing, because of the translator I did not understand correctly, when the price goes in your favor, 30 pips move to BE and let the operation develop?

Stop was hit on this one.. that level had two bounces prior to this last one and 3rd one did not hold up the level is broken and dead now.
The previous two trades on this LV went in favor and looked promising but never broke the 60 pips mark therefore I BE on both.
This is where the one-time trail to BE after 30 pips gain comes handy. Just wanted to point it out as a recent example, but it finally got me after 3 tries lol, np.

Yes, so when you place you limit order you also put in a 30 pips trail stops. That means when price goes in your favor for 30 pips the SL moves to Breakeven (BE) and then you remove the Trail stop.
I do not trail stop my position I just do the one-time trail stop to BE and that's it. I secure a no loss after been rewarded with some leeway.

I hope it helps.
GL

Simple and simple, I like it, in the end it is what works well with respect to the time invested.
Thanks for the reply

10695 LV is the next one likely to be triggered with sell limit. 30pips hard stop in place the 30 pips one time trail in place and target I put it between the two jammed levels for about +140 I will exit that trade no matter what at that point, it's a good enough profit what my plan and goal I can care or less if this drops in mass.
just thinking ahead of time based on structure and plan.. that level could get run through and shoot up to the moon and take me for 30, np... or yet worse, it could fake out for 40 hit my 30 stops then runs down, lol... it's all part of the game.
you look at my chart and see some of the trades are look to be absurd and say to yourself well i can avoid those its too obvious!! ok.. you do that and you will lose out on big gains from the tiniest unimportant levels for sure hands down. you will have price coming at your sell limit with so much heat lets say after some major news and most if not all of you will remove that limit order bcz you think it will for sure run though it or to at least hit your tight stops of 30.. but only to watch and witness one of the best bounces of your life (eg, 2nd chart)
So, I don't know, all I can do is to watch my behind.
Risk Management,
Capital Preservation,
Patience
Following structures...

Thats your edge.

Hi Nadi,
Why do you not have a buy at 9686? I assume this would also be a target for the sell at 10695.

Thanks!!!

Hi Dave,
Why would I have a buy LV at 9686? there is no level there, it is in a middle of nowhere.
The buy levels are at 9398 and 9104.

GL

My sell limit order at 10695 was missed to be hit by couple of pips... Hate to see it run down without me in it, but it happens.
So far a small bounce, hopefully it will retest the peak in full this time.

GL

Beautiful bounce was missed by a hair good for 100 pips as of right now. This kind of things happen time to time... painful to watch when not in it lol.
I hope any of you who are following maybe cut this.

Pa looks good to be producing reasonable bounces inside these 250 pips sideway chop-ish movement, trending is less likely... but who knows tho just taking it at face value.

GL

I noticed PA reacted to this tiny mediocre level, I don't mind taking a shot at it... the buy in on.
There are two other levels below this one that I initially looked to take up on and still have buy limit on both... either price goes crazy bear and zip through all of them or bounce of off one of them, won't be in it till test it.

GL

Hi nadi,
When determining your levels, do you use any sort of trendline breaks to filter out the mediocre levels? I assume they are mediocre because they fall between a high and low levels?

thx

Hi Dave,
No, no trend lines... throughout my career I have tried to stay away from trend lines bcz they are hard to draw and are controversial, I could never find a solid structure for it that I can rely on... they just look sexy after the fact IMHO.
Mid-levels are smaller V's or less data less volume that's why they may not be as strong or reliable... I have no problem with mid-levels they payoff well too.
Instead of filtering I manage risk and stay true to my tight stops.

I hope it helps.

GL