Plan the Trade

first hour I traded poorly should have faded the market endded up -13 since market was going to close early I continued to trade and heres what happened

From what i have observed over the last few weeks, outside hours trading (particularly UK time) see's MP lines being relevant more often than not;



That could have and should have been, days wages already done and dusted.

Some say and use only pit session data for profile. From 930 to 430. . I think all data matters I run it from 00 to 2359 it seems to work my levels seem to be spot on.

here's my levels:

..often see these jinks pre-market. Nice PA and great R:R on entry for this one. Good trading all.

My levels for today. For July 4, I'm only using the extreme levels because the extreme low was a new low and the extreme high was a level that filled in a large space between other levels from July 3.

I'll be careful with taking any trades around the 5568-5582 area as there are a few overlapping levels. The HVN's in that area will be used more for targets on shorts from above and the valley/extreme in that area would be used more for buys if price comes down.

That's an awesome trade NED, i was out, but again, as i said yesterday, even in UK session the profile works well. What you didn't see is that the trigger was the break of yesterdays TPOC too;

I miss read the opening drive should have went long but things turned around rather quickly as I was done trading after 15 minutes today

if you get the levels right finding setups at them makes trading a lot easier

Exactly. There is two parts to this... reading the profile and deciding what to leave and what to delete etc and then the second, obviously how to trade the PA at each level, but i am utterly amazed at how it works;

you had my trades and a few more but it is amazing how price reacts to these levels

I didn't take all of those H, got quite a few +1's today. Was simply too fast for me!

I added an HVN above at 5624.50, which worked perfectly... again, it was from the volume profile as seen here;

so a recap on how I put these levels on I use the days befores vh vL poc then the day before that and day before that if need be as price trades away from yesterdays levels. the wedneday level I had on last week also corresponded to Mondays gap area that's where the big shorts I took happened

I have been strictly trading with TPO only and not using volume at all just a preference I don't like having to many lines from 1 profile just VH VL POC EXTREMES then use previous profiles from other days if price gets there seems to work

video on setting up chart would be wonderful. thanks for your contribution as always. Hope you had a great Independence Day

If you mean the levels I don't think a video is nessesary the levels from yesterday and previous days are apparent to all if you mean something else let me know

For this specific set-up on Sierra Charts, there is not a video from D, but if you do what I did and read through this entire thread here https://www.forexfactory.com/showthread.php?t=627808 and then also read through this current thread that CG started and start around here https://www.forexfactory.com/showthr...03#post9759403 . If you read through both of these threads and make some notes/screenshots (I did it with my iphone), you can easily reference all of it and pick up tips/pointers along the way.

Then, you can do a Sierra Charts demo and go in the settings and start trying to copy everything you see on Divergence charts, CG's charts and others that use these charts. It will take some time and dedication, trial and error, but if you are motivated and have some technical know-how, everything you need to set-up your charts and trade this similar style is all in these 2 threads.

Thanks for that summary MC, i actually went back in this thread using your link and started reading... it's fascinating to see how things progress.

I would suggest that in all my years of trading (it's 18 years ago, i first started losing money with this game!), i have probably never learnt so much in such a short space of time. Sure you can apply general experience picked up along the way, to any new situation, but this has been a crash course!

Ok so i'm now looking forward to the next 3 months, because i am certain that i will look back at this post and how i view things currently and it will be different yet again.

One thing that still catches me out is chasing.... if you are too greedy with your pullback entry, it leaves without you and sometimes goes on a nice long ride without another pullback to get onboard. So leave it... but there were a couple of times yesterday, that i had not been filled and i sat there watching, saying to myself, it's about to blast off... and it did... that is candle action, but here's the thing, i also, a couple of times chased and entered higher, which cost me a 10 point stop out both times... the daft thing is that the stop out was at exactly where my original entry limit was, thus 20 points gone, which should have seen plus 20/30 between the two trades... that's a big big difference (40/50 ticks) and so easily rectified.

Having the discipline to not chase an entry is a big challenge, so i look forward to the next 3 months to see where i am with it all at that stage!

Both the losers came later in the session, so again, you have to adjust your style and start grabbing, but in all honesty, the open hour is where it's at. I find it easier to read, but still have to conquer my fear.

Just think where we will be in a year!

my levels:

I got these as my levels