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High Level Accuracy Method With Little To NO Draw-down

  • #341
  • Feb 4, 2019 10:53pm Feb 4, 2019 10:53pm
Quoting FXCyborg
OK Ladies and Gents - this thread has turned into the most viewed thread in this section Thanks. I hope the illustrations and live setups before Sunday Open has helped guide you to make more informed choices. If you want to do any back-testing while we wait for the Markets to open, feel free to drop in an screenshot with your setup and I'll guide you on the right path. I'm going to take a break and watch some Movies. ATB
Congrats. Join the Red flag. Wow
Make all mistakes in demo and rain in pips in live account
  • #342
  • Edited Feb 5, 2019 6:58am Feb 4, 2019 11:26pm | Edited Feb 5, 2019 6:58am
Another entry here. But not looking so good.

Edit: just to clarify about the set up. It is indeed a engulfing bull. I also went down to M1 to check and it also shows an engulfing in M1.

Not sure if it is the right way as told by FXcyborg
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  • #343
  • Feb 4, 2019 11:46pm Feb 4, 2019 11:46pm
New here...
AUDUSD 5M short...but is it safe to go agst the trend?
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  • #344
  • Feb 5, 2019 12:04am Feb 5, 2019 12:04am
Quoting steven21
New here... AUDUSD 5M short...but is it safe to go agst the trend? {image}
Might be too long ago the signal occured
Winners add to winning trades!
  • #345
  • Feb 5, 2019 12:07am Feb 5, 2019 12:07am
Quoting steven21
New here... AUDUSD 5M short...but is it safe to go agst the trend? {image}

It's a fresh area and you have the signal with the opportunity for a tight stop. Go for it!
  • #346
  • Feb 5, 2019 12:09am Feb 5, 2019 12:09am
Quoting russian30
{quote} It's a fresh area and you have the signal with the opportunity for a tight stop. Go for it!
Also a brilliant risk reward ratio. No brainer!
  • #347
  • Feb 5, 2019 12:12am Feb 5, 2019 12:12am
Quoting steven21
New here... AUDUSD 5M short...but is it safe to go agst the trend? {image}
audusd H1 trying for a 1:1 here. let's see
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  • #349
  • Feb 5, 2019 12:38am Feb 5, 2019 12:38am
Quoting hibra68
I'm waiting for this trade to trigger good luck all. {image}
ANOTHER SETUP. ENJOY.
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  • #350
  • Feb 5, 2019 12:44am Feb 5, 2019 12:44am
Quoting CrocodileRex
{quote} audusd H1 trying for a 1:1 here. let's see {image}
Where is your 3 candle pattern setup?
Winners add to winning trades!
  • #351
  • Feb 5, 2019 12:46am Feb 5, 2019 12:46am
Quoting hibra68
{quote} ANOTHER SETUP. ENJOY. {image}
From what I understand your entry line is too high. It should be between the 1st 2 candles of the 3 candle pattern where the 1st closes and the 2nd opens.
Winners add to winning trades!
  • #352
  • Feb 5, 2019 1:06am Feb 5, 2019 1:06am
Quoting hibra68
{quote} ANOTHER SETUP. ENJOY. {image}
i think most of you don't understand that price needs to move away from the setup zone first. Maybe the thread starter didnt mention it clear. I think he did put in a few examples of price that worked even if it did not move away from the zone. Or maybe he himself also got confused.

But from what i understand (from other threads/systems/theories), price needs to move far away from the zone first. The stronger it is, the better it is. The easiest way to identify this is that price needs to close at least 2 bars away from the zone. With no retest/wick that came back.

Your setup here is a clear example of price that DID NOT move away from the zone. Notice how price came back and retest the zone and it came back down again? It is very risky for me to take a short now because price might range here only.

P/S: look at my previous chart earlier on aussie. notice how it made a strong down move away from the zone (silver area/setup area). Price came back now and i took a short. I think that's basically how the system is all about.
  • #353
  • Feb 5, 2019 1:06am Feb 5, 2019 1:06am
Quoting garados
Another entry here. But not looking so good. Edit: just to clarify about the set up. It is indeed a engulfing bull. I also went down to M1 to check and it also shows an engulfing in M1. Not sure if it is the right way as told by cyborg {image}
Would you consider the area before the 3 bar pattern accumulation on that chart?
  • #355
  • Edited 1:34am Feb 5, 2019 1:21am | Edited 1:34am
Quoting lddd
{quote} Yes okay, but the author didn’t say if planing and executing a trade for H4 that you have to spot accumulation on M5. That’s why I am confused about it. So what you do on M5 then? You first look at M1 to find accumulation? And on M1 you switch over to a real time tick chart? If accumulation is by definition a area where the smart money places their orders it would make sense to me to search and find such area on the same time scale where smart money is looking at. Now how do we know if smart money traders look at price on a M5 chart Daily...
I think the idea of also going into smaller timeframes is to finetune entries. If you find a setup on the Weekly as a Swing Trader, wouldn't it look quite accurate to scroll down into the lower timeframes to "perfect" your entry? It also helps to reduce drawdowns.

Besides if we have price rejecting an area of accumulation, I would avoid it at continuos retest. Cos the zone is no longer fresh. Fresh zones are likely to get more reversals than areas where 2 or 3 retests has happened. This, also, is what I think about accumulation areas.

Quote
FXCyborg (https://www.forexfactory.com/showthread.php?p=11957750#post11957750) Once we have found / identified this area we are looking for a revisit back to that zone - it must revisit back to this zone in short order (come back reasonably quick) - if it takes far too long to come back to that area it's generally best to ignore the setup.

Like in the picture below (a 4hr SELL Opportunity), I will cancel my SELL setup cos it's no longer fresh, takes too long to come back to that area,and there are no sharp rejections again.
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  • #356
  • Feb 5, 2019 1:28am Feb 5, 2019 1:28am
Quoting CrocodileRex
{quote} i think most of you don't understand that price needs to move away from the setup zone first. Maybe the thread starter didnt mention it clear. I think he did put in a few examples of price that worked even if it did not move away from the zone. Or maybe he himself also got confused. But from what i understand (from other threads/systems/theories), price needs to move far away from the zone first. The stronger it is, the better it is. The easiest way to identify this is that price needs to close at least 2 bars away from the zone. With no...
I'm still trying to wrap my head around this. Half the battle is trying to work out which ones are according to the rules so you can follow them.

I've read this post: https://www.forexfactory.com/showthread.php?p=11959557#post11959557

I think the observation is interesting and probably key - before you blindly start following the rules.

Your observation about about the retouch was similar to mine - i posted a question earlier. But i think the OP actually wasn't in those trades. I think it was also explained that yes a retouch does need to take place.

For the noobies (including me) - it would be useful if someone can put some guidelines around accumulation / congestion. I don't mean strict rules - but some simple guidelines. Otherwise like a lot of people here - i'm looking for the 3 bar setup and trying to convince myself what happened earlier was infact accumulation.
  • #357
  • Edited 2:10am Feb 5, 2019 1:39am | Edited 2:10am
Quoting FXCyborg
Greetings Ladies & Gents, I've been trading for almost 30 years. ....

IMPORTANT: In this accumulation zone where orders are being created, we're looking for two BULL candles of reasonable / healthy body sizes (ideally body sizes should be almost the same size) going in the same direction followed by a 3rd Candle, a BEAR bar creating an engulfing pattern. When you find this setup WITHIN that accumulation zone, place a box (Or draw in a horizontal trend line) starting from the CLOSE of the 1st BULL bar and the OPEN of the 2nd BULL bar and...
I'm quoting from the first post as I haven't quite understood this part.

OP says:
For sell we're looking 2 bulls & 1 bear (so up up down) and then the price to move away from that range-zone (I guess he means lower, and when we get the revisit after the dip we shouls sell)

but

For buy he says it's the opposite of the sell, so wouldn't that make it 2 bears & 1 bull (engulfing) (so down down up) and then the price to make a move higher than the range-zone, then dip again to revisit the area and then we should buy for the price essentially to make a bounce and shoot up again.

So my question is, are we always looking for 2 bulls 1 bear for buy & sell, or for buy is 2 bears 1 bull.

Can someone clarify this, please ?


EDIT: https://www.tradingview.com/x/3MTLaPyY/

what do you guys think of this setup over here ?
  • #358
  • Feb 5, 2019 1:58am Feb 5, 2019 1:58am
Quoting AkronD
{quote} I'm still trying to wrap my head around this. Half the battle is trying to work out which ones are according to the rules so you can follow them. I've read this post: https://www.forexfactory.com/showthread.php?p=11959557#post11959557 I think the observation is interesting and probably key - before you blindly start following the rules. Your observation about about the retouch was similar to mine - i posted a question earlier. But i think the OP actually wasn't in those trades. I think it was also explained that yes a retouch...
I'm no expert but maybe a rule such as looking left a few pages worth to find a group of at least 2 or 3 bull candles and 2 or 3 bear candles at that price.

Maybe someone with more experience of consolidation/accumulation can express it better?
Winners add to winning trades!
  • #359
  • Feb 5, 2019 2:58am Feb 5, 2019 2:58am
Nice one, have read almost everything that was posted here i must say you are a Great Trader keep up the good work. one question though, i wont mind mind if you can be my mentor cos i need one and i like your style of trading which is basically price action. thanks
  • #360
  • Feb 5, 2019 3:02am Feb 5, 2019 3:02am
Hey FXC,

What markets do you trade and given that you trade on the 5m/1m time frames what what times of the day do trade to pick up the best opportunities? Also have you traded this way on the indices such as Dow, SP500 and DAX?

D...
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