Plan the Trade

This is the kind of thing that i used to keep an eye on;



Looking for waves and fib levels to to line up. Adding prior S/D levels is something new... I quickly learnt that going freestyle off of such lines on a chart was a fools game, but if we get a 123 off of the 61.8% fib retracement level and retrace it makes for a low risk/high reward trade.

The set-up becomes even stronger when there is a fib correlation between waves W&Y (the same as individual waves A&C within the larger waves).

Has to be said, the Gap close line looks like it would become a magnet at that stage though...

Bigger picture is we are in a downtrend, but let's just file this in the 'just for fun' category!

The pullback to b where you have x thats demand

Yep, that's 320 ticks right there, fancy scaling up?)

fade moves all day today.

Set my limit orders too far back and missed a few. Then caught a couple . . .

Ended at +21 today ... sticking just to tails makes this session so much calmer.

I am trying out one variation ... I removed my TP and changed the settings so that the SL jumps to 20 as 25 is touched, so if there is a lot of momentum I stay in, but if not I still get my 20 ... no takers today but in my tests so far one move can make a huge difference to the bottom line, I then use the next S/D level as a TP.

Nice work Jason and unis

Things are moving in the right direction H

well saw market moving was bored saw this setup

Struggled to start with tonight, missed all obvious stuff and was generally too eager;



Not sure that i could keep going at this stage if it were Live, if i'm honest and that is where there is a BIG difference between that and Demo.

Grabbed some to get back to green (less comms);



and then what i should have simply waited for all along... channel and pullback levels (rapidly becoming my favourite set-ups);



They do seem to come along regularly enough in afternoon sessions and catch one that is steep and each leg down off of the channel line touch is good for a decent chunk (vs a shallower channel, only giving perhaps 8/10/12 ticks at a time)...

Just missed the third touch of this one, but the break out of a trend line also has loads of success. I missed the earlier one whilst waiting for a pullback and it just went up vertically, but i got onboard this one. I messed up a bit by taking a screen shot just when i needed to be moving my stoploss up, but still grabbed a worthwhile total;





Actually was really good practice to come back from the early mistakes. Invaluable experience.

I need to say this again. I find it works really well and i forgot all about it today. Try having a trading (practice) session and NOT trading. The channel trades were screaming at me to take them, whereas the earlier ones i didn't really have confidence in them.

Yes, of course, demo can not relay the feelings involved when money is involved, but... it can teach habit. I need to trade my way out of a hole a hundred more times and just realise that I bank more than i lose. That's all that matters.

Just started to read through your thread.
If I may... I just want to express my respect for the nice work you are doing here.
After years of study, practice, suffering and pain as an humble student of Market's Dynamics and Behaviours,
please let me say that I see and approach the things that happen on a chart pretty in the same way of you.

Yes: we are searching in the same territory.
Yes: at the end of the day it's all about S/R (more properly S/D!!!)
Yes: the better way to trade is “Trading PB in a Trend.”

As I wrote thousands of times, this is what I learnt: Market tells everything.
She speaks to us... (to me of course Mother Market is a Lady...!)
Market speaks, speaks, speaks and we simply don't understand.

Do you want more than this?
That is what I use to call "A telephone call from Market Makers!"

Dax Ger30 (Cfd) m1

So... thanks Cableguy and thanks Divergence. (and thanks to all the contributors of these pages....)
I can't agree more with the foundations of your ideas:
- Basic Elliott Analysis
- Advanced Dow.

Trade well. "Always in control and cover your butts." (Paul Tudor Jones)

Here is a level on dax 1min chart also:

Right!!!
I'm in...

Stopped out for a few... (anyway it's profit!!!)

love the quick days