Thanks for the live session today Damian. I learned a lot and even made a winning trade with your help!
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DislikedThank you all for the comments, I will post the session here once it renders sometime this afternoon. I had a blast!Ignored
DislikedTrade 1 of 20 USDJPY long. Expectation: Price made a NSH longer term Expectation short term: NSH Strength assessment in direction of expectation: Good projection, strong impulse. 161.8% fib extension level was reached, indicating bullish strength. Retrace 61.8% of last swing so a little deep but still OK. Strength 2 or 2.5 out of 3 Bullish strength seems ok Strength of entry signal (SOS): FIB: Price came to 61.8% fib level, good level to enter. STRUCTURE: structure to the left indicated by blue rectangle. HARMONIC: No harmonic confluence identified....Ignored
Disliked{quote} I also want to say again thank you so much Damian for your selflessness, your willing to educate other traders to ultimately share your success with others. Your thread is the best thing a trader can come across. Thanks to you I believe there's a future for me in trading Thanks also for your live sessions, they are really really great and contain invaluable information. Unfortunately I can never attend them, but I really appreciate the recordings afterwards. Thanks so much!Ignored
Disliked{quote} Very thorough analysis, well done. Seems like if you stick to this strategy you should have no trouble. What I like is it seems you have developed a "score system" or a "probability score" for your entry interests. Let us know how it works for you, keep posting charts. I wanted to develop a "probability score" system - something like "this setup scores a 7/10 on the probability scale" - not taking into consideration the Structural Expectation since it has its own probability (70%). I haven't got around to it yet, also need a little more...Ignored
DislikedHello fellow traders I hope you are all well! After a good holiday I'm ready for a new start. Also used the last couple of weeks to educate myself and make some changes to my trading plan. Now starting with Peter 2.0 and with trading plan 2.0 Going to trade an account of 1,000 euros. Will be trading USDJPY mainly. Maximum risk per trade will be between 20-30 euros (2-3% of account). Doing 20 trades, strictly following trading rules (at least that's the plan). I will post every trade and see what the outcome will be in the end. Had a good first...Ignored
DislikedUSDJPY Went short at 110.61 Reason: intraday ABCD pattern completion, second leg extremely weak Overall bulls losing strength, less projection, more depth, impulse weak Last NSH was very weak edit: forgot to mention: pattern completion was also at 88.6% correction of longer term swing Risk is small, SL just above last NSH Profit target in 110.15 region (61.8% correction of AD of pattern) We'll see how it plays out..Ignored
DislikedUSDJPY Went short at 110.61 Reason: intraday ABCD pattern completion, second leg extremely weak Overall bulls losing strength, less projection, more depth, impulse weak Last NSH was very weak edit: forgot to mention: pattern completion was also at 88.6% correction of longer term swing Risk is small, SL just above last NSH Profit target in 110.15 region (61.8% correction of AD of pattern) We'll see how it plays out..Ignored
Disliked{quote} Not sure if I should call it intraday or short term or medium.. Looking at this: {image}Ignored
Disliked{quote} However expectation is still a NSH Just saying..as Mr. Pip says, expectation plays out 70% of the time You're playing against the expectation so just remember that. I remember you telling me the very same thing a couple of months backIgnored
Disliked{quote} You're right about that haha I normally will not trade against expectation, will not try to pick tops or bottoms. I only make exception for perfect ABCD pattern completions, with weaker second leg and confluence of structure and/or fib level. Also the R:R is great. I reduced the risk because it is against expectation. Thought it was worth a shot as all requirements were met for me.Ignored