Daytrading with very tight stops.

Hi Guys,

First of all I would like to say that I'm not going to sell anything...
I just wanna show the one of my strategy models , in other words: this is the intraday trading setup which is based on
some "levels" theory.

I will post some interesting intraday trades ( with interesting targets ) which will generate around the "main levels".

USDJPY

The last 4h candle's close below the 113.34 level ( this is the signal to short USDSJPY at 113.25-30 with tight sl of 20 pips, maybe more secure - 30 pips from the main level ) )opens the way to 112. 37 firstly , and if it will break - to the 111.71 level.

p.s. If the price will not close ( I mean 4h candles ) above 113.34 during the current 4h candle it will confirm the signal.

By the way, you may look at the XAUSD ( as we know - the neg. correlation pair of the USDJPY ) 4h chart

with the significant rebound up from the level 1216.80 ( thin red line ) with the target 1226.00 ( thick red line at the top of the screenshot).

Our first target 112.37 ( please, you can see this in yesterday's post )was reached ( thin red line ) .

I've just closed 1/3 of my overall position ( + 94 pips ) 1h chart

You can see that last 4h candle closed at 112.31 ( 6 pips lower than our 112.37 level ) and this confirms the changing of the trend.

You can use now two levels for your trading :
112.55 as resistance ( you can open short position from and below this level with tight 30 pips sl from the level )
with 1st target at 111.90 level .

Hello ANDfx.
How Trading setup for this strategies. can we get more info?.
Regrading
Dev

The two pairs are close to their main levels now :

AUDUSD

just was reached the main level 0.7825 ( thick red line )
and you can use it like res ( if the 4h candle will close below it ) and try to short from it ( you will have to realize that this will be the countertrend position)
or you will have to use it as sup if this level will be broken .
In this case ( for the long trend position ) your target will be 0.7888 (thin red line at the top of the screenshot ) ).

P.S. All the lines on all currency pairs were point at the weekend.

GBPAUD

Attached Image

just was reached the main level 1.6623 ( thick red line )
and you can use it like sup( if the 4h candle will close above it ) and try to long from it
or you will have to use it as res if this level will be broken ( any next 4h candle will close below this level ) with the target at 1.6557 level.

Good luck in your trading !

hi, HyperDEV
I've just tryed to point out some moments in the post above.
Just watch over these levels ( $JPY, AUD$, GBPAUD ) and 1h-4h candles' behaviuor around these levels...
I will continue...

very quick reaction from the GBPAUD...
-an hour ago was 1.6642:

you saw this in the post above...
and now 1.6735 despite of the res at 1.6689:


Now you can estimate the power of the 1.6623 level and will use it in your future trading next week.

GBPUSD ( 1h chart )

Attached Image

1.3103 (thick red line at the top of the image ) will may become the roof for this rally...
still watching.

...sorry ,
Lets continue...

2/3 USDJPY positions were closed today :


4h chart

+ 218 pips x 2 = + 3930 $

Today's possibilities :

USDCAD
now is close to the main level 1.2529

Attached Image

Please, pay attention to this level.

The close of the current 4h candle above this level ( thick red line )will open the possibility for long USDCAD
with the tight ( 30 p) stop below this level. The target may be 1.2595 ( thin red line ).

The close of the current 4h candle below 1.2529 (more than 1-2 pips ) will open the possibility for short USDCAD
with the tight ( 30 p) stop above this level with the target 1.2496 and then 1.2465.

Pay attention to the level 111.81 on the USDJPY chart.

If it will be broken ( wait the 1h bar close ) - opportunity to open long position with target 112.45 ( will definitely achieve )

EURUSD
h1

Attached Image

Waiting for the close of 1h bar.
If the price will be above 1.1999 (thick red line )we may try long .
If the price will close below 1.1999 we will try short with tight stop above today's high ( +10 pips = 1.2017 )

Short 1 lot at 1.19954 ( s/l 1.2017 )

And whats your TP?

2R I think would be a good target , so if my sl = - 22pips , my target must be + 44 pips ....But the problem is that the Market doesn't know about my 2R dream ))

Seriously, will see at the end of the day, will look at the day bar and will decide : close or leave the position.

There are several targets below the current level :
- POC of today ( TPO charts ) = 1.1986

...this is a tough level but not my target .
- VAL of today = 1.1968 ( the same chart above )

This is my target...
But there is one most important condition : if the 1.1999 will not be broken .

Thanks for the signal

Yet it was very tight TP lol . BUT it went ok

)) 1.1999 is one of the main intraday level for this week, so it was definetely very tough to go through .
But it happened during Asia.

After the level was broken would better to go long now with sl below it.

p.s. the tight stops are the part of the strategy.
You can see the results of one of my accounts : http://www.myfxbook.com/members/Prof...rading/2215459

Take a look what's going on around 1.1999 ( thick red line )

Attached Image (click to enlarge)

That level was broken up and now it is a support.

My trading strategy ( ~50% of it ) is based on the one levels's theory ( not very well known ).

You can use some of the current levels ( I will show them ... ) in your trading .

The rules of trading ( if the price is closed to them ) are very simple.
You have to wait the 1h's ( 4h's close is the better and stronger signal ) close and after that :

Direction of the price to the level - from the south to the north:
- if the price is above the level ( breaks it through and even + 1-2 pips ) you have the opportunity to open a long ( trend position )
- if the price stalls at the level and pullback( even - 1-2 pips ) you have the opportunity to open a short ( countertrend position )

Direction of the price to the level - from the north to the south:
- if the price is below the level ( breaks it through and even - 1-2 pips ) you have the opportunity to open a short( trend position )
- if the price stalls at the level and pullback( even + 1-2 pips ) you have the opportunity to open a long ( countertrend position )

There are two types of red lines : thick is the major level and thin is a minor level.
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USDCHF

( range for the coming days )
0.9711 ( major level )
0.9655 ( minor level )

USDJPY

( range for the coming days )
112.46 ( major level )
111.81 ( minor level )
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You can see the behaviuor of the price ( these are 1h charts ) after FOMC and its movements around these levels.

Please, pay attention to these levels in the future days and you will be extremely surprised.

The key point of the strategy is that if the price breaks those levels it must necessarily go to the next ( red level- major or minor )level.

You can see the results of this strategy here on live account: http://www.myfxbook.com/members/Prof...rading/2215459