THE only Pattern | Page 376 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Strategy behind 1 EA (buy only) and 1 EA (sell only) 2 replies

Can you trade only one pattern and be profitable? 61 replies

Script to change EA to long only/ short only at a price level? 1 reply

Price pattern scanner where I choose the pattern 4 replies

Pattern programs 1 reply

Attachments: THE only Pattern
Exit Attachments

THE only Pattern

  • #7,501
  • Nov 13, 2018 7:39am Nov 13, 2018 7:39am
Quoting ensale
{quote} To follow gbp. I like the setup long if it set's up above that grey box.. Good shout.
Price moves and leave inefficiency. so if we break the lows... there won't be much liquidity. of course my idea.
THIS SCENARIO ONLY IF WE CLEAR BREAK THE LEVELS.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 108 KB
  • #7,502
  • Nov 13, 2018 7:40am Nov 13, 2018 7:40am
Quoting witowito
{quote} Price moves and leave inefficiency. so if we break the lows... there won't be much liquidity. of course my idea. THIS SCENARIO ONLY IF WE CLEAR BREAK THE LEVELS. {image}
When you say ineffieciency what do you mean?
It's in fear when people show what they truly value.
  • #7,503
  • Nov 13, 2018 7:48am Nov 13, 2018 7:48am
Quoting ensale
{quote} When you say ineffieciency what do you mean?
When price moves fast, leaves a lot of levels without liquidity, this kind of fast move normally get filled with a pullback to the beggining of the level and when filling the liquidity void.
U can get a better explanation in this video. minute 9:45 starts what im trying to explain with my bad english LOL
Inserted Video
  • #7,504
  • Nov 13, 2018 8:59am Nov 13, 2018 8:59am
Quoting witowito
{quote} Price moves and leave inefficiency. so if we break the lows... there won't be much liquidity. of course my idea. THIS SCENARIO ONLY IF WE CLEAR BREAK THE LEVELS. {image}
Nice 5 min candle to close a lovely doji in EU,GU and dxy above the level... starting to clarify what it wanna do...
  • #7,505
  • Nov 13, 2018 10:25am Nov 13, 2018 10:25am
gu very strong up. no m5 candle closing below the lower fractal.
ITB - Seeing Orderliness amongst 'Randomness'
  • #7,506
  • Nov 13, 2018 10:36am Nov 13, 2018 10:36am
Quoting Inthebox
gu very strong up. no m5 candle closing below the lower fractal.
Yep, no time for short in this strength
  • #7,507
  • Nov 13, 2018 12:42pm Nov 13, 2018 12:42pm
Quoting witowito
If eur could brek that grey box I think its going to fly to the 1.13-1.131 levels very fast... of course if not and it develop a price action, i will short it looking for new lows, thats it thats all {image}
Price got rejected at first level (orange line) and broke thru pivot area... not nice for longs, USD is coming back with strength
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 80 KB
  • #7,508
  • Nov 14, 2018 1:53am Nov 14, 2018 1:53am
Quoting witowito
{quote} Price moves and leave inefficiency. so if we break the lows... there won't be much liquidity. of course my idea. THIS SCENARIO ONLY IF WE CLEAR BREAK THE LEVELS. {image}
We finally fill that void, it was not as expected (fast drop) instead it makes a pullback and then continue it drop.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 108 KB
  • #7,509
  • Nov 14, 2018 2:01am Nov 14, 2018 2:01am
Quoting witowito
{quote} Price got rejected at first level (orange line) and broke thru pivot area... not nice for longs, USD is coming back with strength {image}
That pullback in dxy makes a deeper pullback in Eur to its natural support&resistance zone after breaking market structure of H1 instead of the pivot point that I draw(grey box) . Then later on it continue its north way.
Now is in the level wich the pullback could be over and look for new lows.

the breaking market structure is made in the bottom where u see the blue arrows... the price after testing the level instead of making a new lower low, it break thru and make a new higher high, then come back test the level and continue doing higher high... thats simple price action and first breaking market structure(the way a new trend begging)Of course it deppends of the time frame u looking at... (in m1 there are many per day, in m5 some in m15.... and so on)
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 87 KB
  • #7,510
  • Nov 14, 2018 2:50am Nov 14, 2018 2:50am
Morning all

Missed the NZD breakout! Otherwise very messy today IMHO
  • #7,511
  • Nov 14, 2018 2:59am Nov 14, 2018 2:59am
Quoting jmtini
Morning all Missed the NZD breakout! Otherwise very messy today IMHO
morning buddy
Agree with u. very messy price action. tricky day i guess because of the brexit thing...
  • #7,512
  • Nov 14, 2018 3:16am Nov 14, 2018 3:16am
Quoting jmtini
Morning all Missed the NZD breakout! Otherwise very messy today IMHO
Hi,
My account balance reduced by half due to NZD, didn't expect it to be so strong for so long (I know, anything can happen in forex, so it's my fault, not blaming anyone) ... have to slowly rebuild
  • #7,513
  • Nov 14, 2018 3:27am Nov 14, 2018 3:27am
Quoting kellycml
{quote} Hi, My account balance reduced by half due to NZD, didn't expect it to be so strong for so long (I know, anything can happen in forex, so it's my fault, not blaming anyone) ... have to slowly rebuild
I feel sorry for u kelly...
Money managment its a big part of this game so with big lessons like that u will realize that u need to improve aswell ur risk, otherwise soon or later u will be kick out of this game.
I blowed few account my self untill a thought I realize I needed to apply strict rules of money management... then I blowed another one...lol
This time im trying to build slowly the account.
  • #7,514
  • Nov 14, 2018 3:53am Nov 14, 2018 3:53am
Quoting kellycml
{quote} Hi, My account balance reduced by half due to NZD, didn't expect it to be so strong for so long (I know, anything can happen in forex, so it's my fault, not blaming anyone) ... have to slowly rebuild
i do not know which nzd you were in, but here's nu.
1. account balance reduced by half when the move against you was 50-100 pips. first thing comes to mind means your lot size is too much. consider lot size divide by 5 or 10. but i believe that you need quite some time later before you adjust.
2. large committed lot size in losing situation means there is not enough ammunition left when the opportunity finally arrives to average your costs.
3. nu was up when looking at h4 or h1. opportunity to average cost when at resistance to get out with breakeven or small profit.
4. reflect deeply where did it gone wrong. maybe against the short term trend? where is the best opportunity that i can average out (after some distance from original entry)?
5. if you still prefer to use big lots then you have to cut lost fast. no buts or ifs.
Attached Image
ITB - Seeing Orderliness amongst 'Randomness'
  • #7,515
  • Nov 14, 2018 4:44am Nov 14, 2018 4:44am
Quoting kellycml
{quote} Hi, My account balance reduced by half due to NZD, didn't expect it to be so strong for so long (I know, anything can happen in forex, so it's my fault, not blaming anyone) ... have to slowly rebuild
What pair kelly?
It's in fear when people show what they truly value.
  • #7,516
  • Nov 14, 2018 4:50am Nov 14, 2018 4:50am
Quoting ensale
{quote} What pair kelly?
EUR/NZD and NZD/JPY
  • #7,517
  • Nov 14, 2018 4:58am Nov 14, 2018 4:58am
Quoting Inthebox
{quote} i do not know which nzd you were in, but here's nu. 1. account balance reduced by half when the move against you was 50-100 pips. first thing comes to mind means your lot size is too much. consider lot size divide by 5 or 10. but i believe that you need quite some time later before you adjust. 2. large committed lot size in losing situation means there is not enough ammunition left when the opportunity finally arrives to average your costs. 3. nu was up when looking at h4 or h1. opportunity to average cost when at resistance to get out with...
Hi Inthebox,

Actually my strategy is always enter in microlots, I added when I thought I was in the right trend. So what I did is cut some of the trades and try to preserve my capital.

Yes, time to reflect what I did wrong.
  • #7,518
  • Nov 14, 2018 5:00am Nov 14, 2018 5:00am
Quoting kellycml
{quote} Hi Inthebox, Actually my strategy is always enter in microlots, I added when I thought I was in the right trend. So what I did is cut some of the trades and try to preserve my capital. Yes, time to reflect what I did wrong.
all done in 1 day or over several days.?

I mentioned a long eurnzd last week I think but that was closed same day, just ranged and took stop's.
It's in fear when people show what they truly value.
  • #7,519
  • Nov 14, 2018 5:05am Nov 14, 2018 5:05am
Quoting kellycml
{quote} Hi, My account balance reduced by half due to NZD, didn't expect it to be so strong for so long (I know, anything can happen in forex, so it's my fault, not blaming anyone) ... have to slowly rebuild
I think we can all sympathise with you kellycml - to be honest I've lost count of how many accounts I've blown over the years. I turned things around only when I stopped over-leveraging - Inthe box is quite right in what he says.
  • #7,520
  • Nov 14, 2018 5:14am Nov 14, 2018 5:14am
Quoting jmtini
{quote} I think we can all sympathise with you kellycml - to be honest I've lost count of how many accounts I've blown over the years. I turned things around only when I stopped over-leveraging - Inthe box is quite right in what he says.
ITs incredibly courios how market ( or our self ) are because the time u trade small most likely u are right the market goes where u think and u take small profits, as sooner as u think well if i had done this with bigger size I already would double or cuadruple my account... lets do it... BAAAANG mistake after mistake after mistake and another accoun blown lol
16 traders viewing now