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THE only Pattern

  • #3,381
  • Jan 2, 2018 9:37am Jan 2, 2018 9:37am
when you change timeframes then the sweetspot for that specific timeframe will appear on the chart. if you want to have the h1 time frame on the m5 then you would just use the h1 template posted earlier in the thread or delete the extra sweetspots from the template i posted.
  • #3,382
  • Jan 2, 2018 4:52pm Jan 2, 2018 4:52pm
Quoting mmb91
Atheer I'm reading the thread from page 1 and I have a question. What do you use to determine the trend direction? I'e seen a couple of your posts where you say that there is a level of support but there is a strong downtrend so you rethink going long even if there' a signal. Do you use the daily to determine overall trend direction?
Trend is always relative to time frame............you may have an uptrend on weekly or monthly while on the daily the price is moving down...........or you may have a downtrend on daily while the hourly is moving up.............so to trade successfully you have to decide what type of trader you are? the most important part for how long you will hold your trade in terms of time or in terms of pips gain..............
This system first concern is entering a low risk trade.............so first take care of the risk ...............this system gives a way to enter the market where your risk should not be more than 10-20 pips in any way.........
For me to determine the trend is easy buy looking at the chart..........I do not use any moving average because it will be late to the game..........I just follow price day by day.........and remember that no trend can continue forever...........A good way is to let the market tell you..........simply by entering good levels.........then scaling out of the position............when you enter a trade for example for a good R.............then yes you made 50 pips on the 1st part then price returned to your BE level on the 2nd part you must scratch your head.........aha am I trading the wrong direction..........
So my advice try to be on the right side try to look for higher time frames trend...........the most clear one is the daily...........pick important levels from that frame ...........to enter at lower time frames

In summery take care of the risk and profit will take care of itself
atheer1
  • #3,383
  • Jan 2, 2018 5:20pm Jan 2, 2018 5:20pm
UJ continued its downward direction started from about December high.............R in play 112.30-40...........S.......112.00-112.10.............111.60-70
atheer1
  • #3,384
  • Jan 2, 2018 5:26pm Jan 2, 2018 5:26pm
EU early attack of yearly high around 1.2090-1.21 and my retreat to S at around 1.20
atheer1
  • #3,385
  • Jan 2, 2018 5:27pm Jan 2, 2018 5:27pm
Quoting atheer1
{quote} Trend is always relative to time frame............you may have an uptrend on weekly or monthly while on the daily the price is moving down...........or you may have a downtrend on daily while the hourly is moving up.............so to trade successfully you have to decide what type of trader you are? the most important part for how long you will hold your trade in terms of time or in terms of pips gain.............. This system first concern is entering a low risk trade.............so first take care of the risk ...............this system...
Thanks for the reply, much appreciated. Even when you'e trading H1 and M1 do you still look at daily for overall trend direction or just for key S/R levels?

I've been reading more and more of the thread and there's a lot of solid information from great traders. I just got approved from my job to work from home so I'm hoping to join everyone haha.
  • #3,386
  • Jan 2, 2018 5:49pm Jan 2, 2018 5:49pm
Quoting mmb91
{quote} Thanks for the reply, much appreciated. Even when you'e trading H1 and M1 do you still look at daily for overall trend direction or just for key S/R levels? I've been reading more and more of the thread and there's a lot of solid information from great traders. I just got approved from my job to work from home so I'm hoping to join everyone haha.
Yes daily where to look for overall trend direction.............but do not forget to look at all time frames...............think of time frames as mechanical watch wheels every one is important ..............
atheer1
  • #3,387
  • Jan 2, 2018 6:02pm Jan 2, 2018 6:02pm
For UJ I am holding a short from around 113...........will see how it will develop...........
atheer1
  • #3,388
  • Jan 2, 2018 6:37pm Jan 2, 2018 6:37pm
Quoting atheer1
For UJ I am holding a short from around 113...........will see how it will develop...........
I'm living dangerously today, I just entered at 112.250 with very tight stop at 112.32, will see
I meant, 112.13, going long
  • #3,389
  • Jan 2, 2018 7:53pm Jan 2, 2018 7:53pm
Quoting Rlc2269
{quote} I'm living dangerously today, I just entered at 112.250 with very tight stop at 112.32, will see I meant, 112.13, going long
well I am expecting the bears to defend 112.4xx
atheer1
  • #3,390
  • Jan 3, 2018 2:09am Jan 3, 2018 2:09am
Quoting atheer1
{quote} well I am expecting the bears to defend 112.4xx
Yes , but a penetration of 112.40 is very bullish imho...

Have a happy New Year all here

  • #3,391
  • Jan 3, 2018 3:39am Jan 3, 2018 3:39am
[quote=atheer1;10634883]{quote} well I am expecting the bears to defend 112.4xx[/quote and defend they did, I had it in my head that there was a big bounce, I took my 8 pips and got out, currently going short from 112.37, hoping for a 70 pip plunge, lol
  • #3,392
  • Jan 3, 2018 4:11am Jan 3, 2018 4:11am
Quoting F.g
{quote} Yes , but a penetration of 112.40 is very bullish imho... Have a happy New Year all here
If you read daily price action when hitting around 112 S...........at 6th,14th,15th of December and lastly at 2nd of January..............you will conclude that bulls are getting weaker and weaker ...............at least at this level.............so even if price break 112.40 it is no longer that bullish
atheer1
  • #3,393
  • Jan 3, 2018 4:29am Jan 3, 2018 4:29am
Quoting atheer1
{quote} If you read daily price action when hitting around 112 S...........at 6th,14th,15th of December and lastly at 2nd of January..............you will conclude that bulls are getting weaker and weaker ...............at least at this level.............so even if price break 112.40 it is no longer that bullish
hi atheer ...so do u recommend to go short now with stop loss around 112.5?
  • #3,394
  • Jan 3, 2018 4:34am Jan 3, 2018 4:34am
Quoting Rowad
{quote} hi atheer ...so do u recommend to go short now with stop loss around 112.5?
No wait for NY to decide on it
atheer1
  • #3,395
  • Jan 3, 2018 4:57am Jan 3, 2018 4:57am
Quoting atheer1
{quote} No wait for NY to decide on it
it is now a sell
atheer1
  • #3,396
  • Jan 3, 2018 5:18am Jan 3, 2018 5:18am
Quoting atheer1
{quote} it is now a sell
what??
  • #3,397
  • Jan 3, 2018 6:08am Jan 3, 2018 6:08am
Quoting atheer1
{quote} If you read daily price action when hitting around 112 S...........at 6th,14th,15th of December and lastly at 2nd of January..............you will conclude that bulls are getting weaker and weaker ...............at least at this level.............so even if price break 112.40 it is no longer that bullish
Care to elaborate on what makes the bulls weak on those days? Is it the long top wicks mixed with price rising and dropping creating two lower highs?
  • #3,398
  • Jan 3, 2018 6:43am Jan 3, 2018 6:43am
I think picking the right S/R levels is the most difficult part of it all, at least for me.
  • #3,399
  • Jan 3, 2018 6:49am Jan 3, 2018 6:49am
Quoting mmb91
I think picking the right S/R levels is the most difficult part of it all, at least for me.
me too and to know when it hits the S/R to go for buy or sell
  • #3,400
  • Jan 3, 2018 10:01am Jan 3, 2018 10:01am
Quoting mmb91
{quote} Care to elaborate on what makes the bulls weak on those days? Is it the long top wicks mixed with price rising and dropping creating two lower highs?
Just look at the close of the daily..............it is now more near to the S
atheer1
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