This trading approach is based off of Edward Day's method as mentioned in his book "Advanced Forex Trading". I have made it my own and like to call it Sage Trading. It focuses on analyzing order flow, evaluating ranges and trends, determining price environment, and finally using Support and Resistance to trade off levels. The strength and validity of these levels will depend on our interpretation of the earlier mentioned factors. Its a purely discretional approach. No patterns, no indicators, no hard rules, only a candlestick chart is required, and a clear mind. The edge comes from your understanding of the market, and being able to adjust to the ever changing market flow state.
A multi-time frame approach is required and a bias is needed for each related time frame. Biases can be bullish, bearish, neutral bearish, neutral bullish. The concept of Bulls Vs Bears and which side is currently gaining the upper hand needs to be considered and always kept at the back of one's mind. This is also known as Order Flow. I will be trading off the 1 hour, while evaluating price environment mainly on the 4 h, and taking cues from the daily timeframe.
This profound approach allows us to utilize limit orders on zones we deem relevant. Yes, you read right. Limit orders. No confirmation required. No Quasimodo pattern needed, say goodbye to pinbars and englufing candles. Head and shoulders, neckline breaks? No, sages dont break necks, we dont condone violence. Oscillator MACD crossings? Nope, sages dont look to the past, they stay rooted in the present and accept whatever unfolds in the future.
This approach might seem trivial, complicated, and down right ludicrous. However, if youre ready to embark on a journey of understanding and enlightenment, and if you wish to master sage trading with me, take a deep breath, close your eyes, and we shall begin.
A multi-time frame approach is required and a bias is needed for each related time frame. Biases can be bullish, bearish, neutral bearish, neutral bullish. The concept of Bulls Vs Bears and which side is currently gaining the upper hand needs to be considered and always kept at the back of one's mind. This is also known as Order Flow. I will be trading off the 1 hour, while evaluating price environment mainly on the 4 h, and taking cues from the daily timeframe.
This profound approach allows us to utilize limit orders on zones we deem relevant. Yes, you read right. Limit orders. No confirmation required. No Quasimodo pattern needed, say goodbye to pinbars and englufing candles. Head and shoulders, neckline breaks? No, sages dont break necks, we dont condone violence. Oscillator MACD crossings? Nope, sages dont look to the past, they stay rooted in the present and accept whatever unfolds in the future.
This approach might seem trivial, complicated, and down right ludicrous. However, if youre ready to embark on a journey of understanding and enlightenment, and if you wish to master sage trading with me, take a deep breath, close your eyes, and we shall begin.
Seek first to understand, then to be understood