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High Level Accuracy Method With Little To NO Draw-down

  • #1,161
  • Feb 10, 2019 10:20pm Feb 10, 2019 10:20pm
It seems only the link is given. From next time onward I will use the snipping tool
  • #1,162
  • Feb 10, 2019 10:24pm Feb 10, 2019 10:24pm
Quoting 2dollardog
{quote} Yeah, like this. This is classic and on a 5m chart. The same setup applies on the higher time frames over a much longer period of time, especially if your entry line rests on a similar entry trigger via lower time frames. {image}
Thanks for replying. So, in that case, where would the TP be at? Is the structural low further to the left?

Also, if you don't mind me asking, wasn't this another setup as well?
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  • #1,163
  • Feb 10, 2019 10:25pm Feb 10, 2019 10:25pm
see this
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  • #1,164
  • Feb 10, 2019 10:39pm Feb 10, 2019 10:39pm
Quoting RickM
{quote} Hi Abzozo1 It failed because some bad NZ employment figures were released and the price jumped up 70 pips. Any NZ pair setup would have failed here. You cannot count on a nice TA setup overruling a Red News event. It may have worked if you entered straight away but that is not the point of trading H4 this way. My setup wasn't a 3 bar signal but just a accumulation zone setup.
Thanks mate, I suspected news release, given the size of that green candle.

Wow! this system is something else, I think I will be hooked on it for quite sometime.

Kind Regards

Abzozo
  • #1,165
  • Feb 10, 2019 10:44pm Feb 10, 2019 10:44pm
Quoting Elliot12345
see this {image}
will be looking for any signal at the hot zone
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Self discipline It is a practice
  • #1,166
  • Feb 10, 2019 10:49pm Feb 10, 2019 10:49pm
Quoting Elliot12345
see this {image}
Looking at GJ 1hr chart there is imbalance zone just above doesn't that supercede this 15mins setup???
  • #1,167
  • Feb 10, 2019 10:50pm Feb 10, 2019 10:50pm
Quoting Rfs199
{quote} Thanks for replying. So, in that case, where would the TP be at? Is the structural low further to the left? Also, if you don't mind me asking, wasn't this another setup as well? {image}
Okay, first you "another setup?" Let me comment on that one. Im learning this one too so I'm looking for these types of mistakes. Your first indication that this mght not be a setup is lack of accumulation prior to that point. I'd be kinda iffy at that point in my head, but when I saw that large bullish pinbar. What's happening with that pinbar is there are traders buying hard. Okay, the setup is still valid, right? We have the two equal bars, the engulfing third bar. I wouldn't take it. Why? Because of that pinbar representing a lot of trader buying while Im trying to sell means there's going to be a war and that price is going to giggle (there's your accumulation). The risk is higher because of this and also because of emotions! Sitting there through the accumulation can be hard to stay strong. But this part is an individual choice and I'm still learning the probabilities on these setups. Ithink it's a legit setup, just hard for me to handle. Patience is much more easy to trade. There's always another. And this one came up with a clear cut setup later on.

Your structure is my trend line on the lower right. I know you probably want to see that but I'm working that chart at the moment. If you ever cannot see the structure, just ask or maybe pull up the next higher time frame to get a more solid view. Sometimes that helps.
  • #1,168
  • Feb 10, 2019 10:52pm Feb 10, 2019 10:52pm
Quoting okshop
{quote} will be looking for any signal at the hot zone {image}
Just be careful there as whole lotta GBP data in just over 2.5 hours....Not saying it's not gonna work..
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Don't Leave Money on the Table
  • #1,169
  • Feb 10, 2019 10:54pm Feb 10, 2019 10:54pm
Quoting 2dollardog
{quote} Yeah, like this. This is classic and on a 5m chart. The same setup applies on the higher time frames over a much longer period of time, especially if your entry line rests on a similar entry trigger via lower time frames. {image}
Hi! Is that valid setup when engulfing bar are so big and engulfing bar 1 and 2?
  • #1,170
  • Feb 10, 2019 10:56pm Feb 10, 2019 10:56pm
Quoting Rfs199
{quote} Thanks for replying. So, in that case, where would the TP be at? Is the structural low further to the left? Also, if you don't mind me asking, wasn't this another setup as well? {image}
Hi Rsf199

May I ask something, with regard to the signal marked 1,2,3. When a setup is identified, shouldn't the market be in a accumulation mode? I think what I constantly realise is that most traders, of this system, just look at two candles of same colour and then engulfying candle and then qualify that as a signal.

Just saying, in good faith, I stand to be corrected.

Kind Regards

Abzozo
  • #1,171
  • Feb 10, 2019 11:01pm Feb 10, 2019 11:01pm
loaded
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  • #1,172
  • Feb 10, 2019 11:02pm Feb 10, 2019 11:02pm
Quoting Abzozo1
{quote} Hi Rsf199 May I ask something, with regard to the signal marked 1,2,3. When a setup is identified, shouldn't the market be in a accumulation mode? I think what I constantly realise is that most traders, of this system, just look at two candles of same colour and then engulfying candle and then qualify that as a signal. Just saying, in good faith, I stand to be corrected. Kind Regards Abzozo
Accumulation zone is only strictly required for lower tf such as 5m or less:

https://www.forexfactory.com/showthread.php?p=11977454#post11977454
  • #1,173
  • Feb 10, 2019 11:10pm Feb 10, 2019 11:10pm
Quoting Toppi
{quote} Hi! Is that valid setup when engulfing bar are so big and engulfing bar 1 and 2?

The better question to ask is, does that overly large engulfing bar mean more risk? That's how my mind with the experience I have represents it. That's what's hard about pro traders coming on here and offering setups. Their experience is intuitive and they don't much think about the extra thought process they're using. Don't worry, this is a good setup. If you stick to rigid math with your risk, it'll be okay even if you fail because of that risk/reward matter.

Okay, when I see this. Is the trend down? CLEARLY. That's a very high odd that this setup is going to work despite any doubts about the size of the engulfing bar. So far I have not seen any large engulfing bars to indicate a failure for this setup under the right conditions. The exception would be data spikes (from news) that take up enormous moves. That's different. I don't even want to be in the market when that happens and I wait anywhere from fifteen to an hour after to let the market settle. I let other traders get chewed up.

I'm going to tell you what's missing: You need to crawl the charts. When you have questions like this, it's important to spend time crawling back through the charts looking for those extra large engulfing bars on setups and see how many times they fail and how many times they win and also what conditions they fail/win.

Trust me. It's worth every minute bleary-eyed looking at the charts in this way. You'll learn so much.
  • #1,174
  • Feb 10, 2019 11:15pm Feb 10, 2019 11:15pm
attached
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File Type: zip change buy to sell.zip   3.0 MB | 491 downloads
  • #1,175
  • Feb 10, 2019 11:22pm Feb 10, 2019 11:22pm
Quoting okshop
{quote} will be looking for any signal at the hot zone {image}
buy or sell?
was looking at it as well but thought the wick on the 30 was too big for it to be a correct set-up?
  • #1,176
  • Edited Feb 11, 2019 12:32am Feb 10, 2019 11:22pm | Edited Feb 11, 2019 12:32am
Hello! Recently saw this thread, just yesterday. Very interesting, the author has a big respect. I ask you not to judge strictly, because just started to figure it out. I saw here is such a setup. Was it correctly defined by me?
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  • #1,177
  • Feb 10, 2019 11:23pm Feb 10, 2019 11:23pm
EURUSD M30
  • #1,178
  • Feb 10, 2019 11:30pm Feb 10, 2019 11:30pm
80pip
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  • #1,179
  • Feb 10, 2019 11:34pm Feb 10, 2019 11:34pm
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  • #1,180
  • Feb 10, 2019 11:39pm Feb 10, 2019 11:39pm
You can't just take ever setup you see on the 1min/5min/15min/etc...you need to develop a set of criteria to take a trade, or maybe more importantly, to not take a trade. As this is a discretionary method, those criteria will vary from trader to trader.
Look Sharp/Trade Tight
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