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Plan the Trade

  • #7,261
  • Aug 23, 2018 11:56am Aug 23, 2018 11:56am
Quoting Divergence
{quote} 1 minute chart looks better don't know why you waste your time with slow much small range fx market
I was looking m5 at 1 as the low (below is a minute chart)

would you trade 1 and long on 2 ? or 2 as low and long on 3?
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  • #7,262
  • Aug 23, 2018 12:04pm Aug 23, 2018 12:04pm
Where you have 2 that's where 2b was it made low then pullbacks then made a small LL then price takes out the pullback high then take pullback
  • #7,263
  • Aug 23, 2018 12:13pm Aug 23, 2018 12:13pm
Quoting Divergence
Where you have 2 that's where 2b was it made low then pullbacks then made a small LL then price takes out the pullback high then take pullback
So the low at 1 you don't look at?
It looks like trading 2b at number 2 is too small ? Would have been a loss if I traded that
  • #7,264
  • Aug 23, 2018 12:16pm Aug 23, 2018 12:16pm
Looks like it only went 2 pips against YOU
  • #7,265
  • Aug 23, 2018 12:17pm Aug 23, 2018 12:17pm
Quoting Don96
{quote} I was looking m5 at 1 as the low (below is a minute chart) would you trade 1 and long on 2 ? or 2 as low and long on 3? {image}
Or short the level between 2 and 3, since 3 made a new low.
So many in the Commercial section want to make me rich! :o
  • #7,266
  • Aug 23, 2018 12:17pm Aug 23, 2018 12:17pm
Quoting Don96
{quote} So the low at 1 you don't look at? It looks like trading 2b at number 2 is too small ? Would have been a loss if I traded that
You've lost me?

Don't have charts atm, will draw what I thought and show you when I'm back
  • #7,267
  • Aug 23, 2018 12:43pm Aug 23, 2018 12:43pm
Quoting Divergence
long wait but results were good {image}
That's amazing how you pick your trades!
If I didn't follow you for more than 5 years I'd say it's just cherry picking.
Keep it up, Div! I do miss hearing you vape though.
  • #7,268
  • Aug 23, 2018 12:57pm Aug 23, 2018 12:57pm
https://res.cloudinary.com/teepublic.../2345679_0.jpg
  • #7,269
  • Aug 23, 2018 1:04pm Aug 23, 2018 1:04pm
don here is 2b pattern setup
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  • #7,270
  • Aug 23, 2018 3:45pm Aug 23, 2018 3:45pm
Quoting Divergence
don here is 2b pattern setup {image}
so?

price makes high, high is slightly broken by candle one (poke bar?) candle 2 rejects higher price and then you sell the close of this candle?

you then also sell a retest of this candle later on?
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  • #7,271
  • Aug 23, 2018 3:55pm Aug 23, 2018 3:55pm
Quoting Don96
{quote} so? price makes high, high is slightly broken by candle one (poke bar?) candle 2 rejects higher price and then you sell the close of this candle? you then also sell a retest of this candle later on? {image}
I only enter on pullbacks to supply and demand areas with in the pattern I thought I explained in clearly it doesn't become a 2 b till it took out the 2b area hence the pullback
  • #7,272
  • Aug 23, 2018 3:57pm Aug 23, 2018 3:57pm
Quoting Don96
{quote} so? price makes high, high is slightly broken by candle one (poke bar?) candle 2 rejects higher price and then you sell the close of this candle? you then also sell a retest of this candle later on? {image}
and here, there is L, then a LL, my red horizontal line is a buy stop?

the last one, 1 is the high, slightly HH on 2 then sell stop on 2?
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  • #7,273
  • Aug 23, 2018 4:25pm Aug 23, 2018 4:25pm
That would be a +1 trade
  • #7,274
  • Aug 23, 2018 8:34pm Aug 23, 2018 8:34pm
Quoting Divergence
don here is 2b pattern setup {image}
Appreciate you marking up another one. It always helps
  • #7,275
  • Aug 24, 2018 1:32am Aug 24, 2018 1:32am
Quoting Don96
{quote} so? price makes high, high is slightly broken by candle one (poke bar?) candle 2 rejects higher price and then you sell the close of this candle? you then also sell a retest of this candle later on? {image}

Don, you may want to leave 2B' set-up's alone as there will be many failures. Harold has a canny knack of recognising the valid ones and that only comes after years of experience.

I tend to look for waves or cycles and counts to add up, before considering them, as main corrective waves will break trends and then return immediately back to underlying... Imo it is better to wait for 123's to form and trigger to give a sequence first (LL/LH/LL or HH/HL/HH) to consider a trend, then the deep retrace to join in.

Remember, determine trend first, then look for a pullback according to the trend;

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GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #7,276
  • Aug 24, 2018 6:58am Aug 24, 2018 6:58am
I will toss in this link (understanding H takes it when it pulls back in . . . ):
https://fbs.com/analytics/tips/trade...-patterns-2163
  • #7,277
  • Aug 24, 2018 7:21am Aug 24, 2018 7:21am
trader vic did come up with the 2b pattern for a lack of a better name i also call it a 2b it really is a broken 123 pattern
  • #7,278
  • Aug 24, 2018 8:38am Aug 24, 2018 8:38am
50.75 long
  • #7,279
  • Aug 24, 2018 8:40am Aug 24, 2018 8:40am
Had 60 short for BE+1
  • #7,280
  • Aug 24, 2018 8:42am Aug 24, 2018 8:42am
I was going for 4925 long didn't get there
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