identify the trend
stack position by scale-in, buy on the dip in a bullish trend, sell on the rally in a bearish trend
realize the profit by scaling out to grow the balance.
EURUSD bearish trend identified at 2016.04.11 13:00
the game plan is to sell on rally
currently have 1 short at 1.1431 in both my 4 & 5 digit account
Attached Image(s) (click to enlarge)
“Hope is [a] bogus emotion that only costs you money.” - PETER LYNCH
it plot the level on the chart.
the level are value area formed by volume trading in the future market.
in bearish bias, better to short at the top of value area, you can use 30 pips SL to protect your balance.
don't sell if the price is far away from value area high. this could be sign of strong move.
same with bullish.
hope it will help you to take any position wheter you are bearish or bullish.
Attached Image (click to enlarge)
“Hope is [a] bogus emotion that only costs you money.” - PETER LYNCH
i will share template every day. it plot the level on the chart. the level are value area formed by volume trading in the future market. in bearish bias, better to short at the top of value area, you can use 30 pips SL to protect your balance. don't sell if the price is far away from value area high. this could be sign of strong move. same with bullish. hope it will help you to take any position wheter you are bearish or bullish. {image}
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fyi,
White = VA of London session
Aqua = VA of Newyork session
Lime = VA of daily session
Gold = VA of weekly session
DeepSkyBlue = VA of monthly session
“Hope is [a] bogus emotion that only costs you money.” - PETER LYNCH
{quote} fyi, White = VA of London session Aqua = VA of Newyork session Lime = VA of daily session Gold = VA of weekly session DeepSkyBlue = VA of monthly session
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currently market in VA of weekly session
Attached Image (click to enlarge)
“Hope is [a] bogus emotion that only costs you money.” - PETER LYNCH
Hi SignaFX, subscribed. Good thread.
Can I give just an ideia.... to save the template with the date it is related. Because when you say "today", it maybe cause some confusion, for me as an example is still Tuesday but my broker is Wednesday. I think Singapore maybe Wednesday too.
As the date format could be different for each one of us. So better use Jan, Feb, Mar, Apr and so on instead of just numbers. Something like 13APR2016.
Hi SignaFX, subscribed. Good thread. Can I give just an ideia.... to save the template with the date it is related. Because when you say "today", it maybe cause some confusion, for me as an example is still Tuesday but my broker is Wednesday. I think Singapore maybe Wednesday too. As the date format could be different for each one of us. So better use Jan, Feb, Mar, Apr and so on instead of just numbers. Something like 13APR2016.
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OK will do it tomorrow
i use GMT+3 broker
today means new daily candle.
new daily candle start in sydney session
“Hope is [a] bogus emotion that only costs you money.” - PETER LYNCH
{quote} fyi, White = VA of London session Aqua = VA of Newyork session Lime = VA of daily session Gold = VA of weekly session DeepSkyBlue = VA of monthly session
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fyi, the dot lines is POC of the session.
currently market rejected from POC of newyork session and now is at the bottom range of daily session
Attached Image (click to enlarge)
“Hope is [a] bogus emotion that only costs you money.” - PETER LYNCH
{quote} fyi, the dot lines is POC of the session. currently market rejected from POC of newyork session and now is at the bottom range of daily session {image}
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i make decision in 30 minutes time frame
you can see the difference
Attached Image (click to enlarge)
“Hope is [a] bogus emotion that only costs you money.” - PETER LYNCH
oops it pause at the lower range of london session will realize (scaled out) some of my profit at 1.1310 if get there then waiting for retracement to scale in short again {image}
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oh yes it was delicious!
“Hope is [a] bogus emotion that only costs you money.” - PETER LYNCH
