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  • #101
  • Jan 10, 2019 12:34pm Jan 10, 2019 12:34pm
the closer your trade is to the edge of repeated touch of levels the higher chance of your trade working out and the lower your risk and stop will be.

It doesnt make sense taking trades in places where there has been little to no repeated touches, its higher risk and makes less sense.

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Sometimes u wont see a support level, but there will be a cluster of repeated wicks in a tiny area, that is a good sign and usually a good area to try and get in too (first red box on the left of chart)
  • #102
  • Feb 11, 2019 12:14pm Feb 11, 2019 12:14pm
1min levels

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  • #103
  • Feb 11, 2019 4:00pm Feb 11, 2019 4:00pm
Quoting venividivici
1min levels {image} {image}
great. also notice the round number 0.87700
  • #104
  • Feb 12, 2019 5:42am Feb 12, 2019 5:42am
Quoting venividivici
1min levels {image} {image}
More simple is impossible
POW!
  • #105
  • Feb 13, 2019 8:39am Feb 13, 2019 8:39am
Best thread on FF by far, we should keep it going! I've been out of the game for a bit doing other things, but saw this thread and decided to get back involved.

Veni posted a great link a page ago. Reminds me of something I wrote to try to help some friends a few years ago:

There are only a few options as to why to enter - breakouts, failed breakouts, or retracements. My initial assumption is that all breakouts will fail and that is the initial trade. If that fails, it is now a trend. In a trend, the best trade is a failed breakout against the trend which is the 2-leg pullback. So there are two trades I have really boiled my trading plan down into. Failed breakouts of ranges and failed breakouts against the trend, i.e 2-leg pullbacks.

The only thing left is then to determine which is failing to be broken. This is where HH/HL LL/LH tracking comes into play, or as I previously have called them LRH and LRL - last reaction high/low. The LRH is the last swing high prior to the previous LL being broken. The LL will either be broken and trend will continue or the breakout will fail. The failure can be traded.

If instead the trend continues, the market will at some point retrace. Two entries may occur

  1. A minor H (below the LRH) will be created, a thrust will be made back in the trend direction creating a minor L, and then a new minor HH will be created (below the LRH). However, this minor HH will fail (a failed breakout of the minor H and a 2-leg pullback).
  2. The LRH will be exceeded - a breakout. The trend is now suspect, but most breakouts fail and a failed breakout can be traded back into the trend direction (down).

However, after the LRH has been broken, even if it initially appears to fail, the trend has likely switched to up. I would look to buy a 2-leg pullback or a failed breakout of the LL that created the pullback if given that deep of an opportunity. The trend may also continue which is why you trade the failed breakout of the LRH as it may have just been a search for more liquidity for true break of the previous LL in which case you will be BE by the time the 2-leg pullback (for the long) would have set up.

Alternatively, the LRH may break with force. I would then look to buy the first retracement (breakout pullback) into the new up trend. That is the only time I want to buy a 1-leg pullback - the breakout pullback, or first retracement.

And that's basically the summation of everything I know about the market. Of course fear and greed always as well as imperfect and inconsistent patterns make it difficult to execute the plan perfectly, but managing with a positive R:R will make the structured approach profitable.

https://4.bp.blogspot.com/-uXNtSO3tu...20/Sticks2.png

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Small disciplines repeated with consistency lead to great achievements.
  • #106
  • Feb 13, 2019 10:00am Feb 13, 2019 10:00am
Quoting jmflukeiii
Best thread on FF by far, we should keep it going! I've been out of the game for a bit doing other things, but saw this thread and decided to get back involved. Veni posted a great link a page ago. Reminds me of something I wrote to try to help some friends a few years ago: There are only a few options as to why to enter - breakouts, failed breakouts, or retracements. My initial assumption is that all breakouts will fail and that is the initial trade. If that fails, it is now a trend. In a trend, the best trade is a failed breakout against the trend...

Wow! Cool Stuff

Many Thanks
Swnlobo
  • #107
  • Feb 13, 2019 9:08pm Feb 13, 2019 9:08pm
Quoting Swnlobo
{quote} Wow! Cool Stuff Many Thanks Swnlobo
You bet!

Here's a little Asia session trading, likely keep going, but this is good enough for me!

The 30M was clear about the direction, the 1M provided the location, watching the price provided the trigger. The hindsight chart doesn't show the price movement during that entry bar - if you're watching live it becomes much more clear -
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Small disciplines repeated with consistency lead to great achievements.
  • #108
  • Feb 14, 2019 8:38am Feb 14, 2019 8:38am
A couple trades after the big news push. The first trade... pullback took out stops at the minor retrace during the push up. Traded back up to the previous high and monitored (instead of profit target) to see if it would break with force or stall... it broke, but then stalled so exited.

The second trade was a little less clear, but the move lower below the blue box was rejected, and then I traded the second higher low which also coincided with the channel break (late on the entry). Traded that up to the last minor high
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Small disciplines repeated with consistency lead to great achievements.
  • #109
  • Feb 15, 2019 8:41am Feb 15, 2019 8:41am
Trade 1: Pullback to support turned resistance. Waited to see if it would break at the prior low, but didn't wait long enough. While the outcome could have been better, feel okay about how this was managed. I gave it some room to breath but didn't work out. As Veni says, lots of opportunities everyday, no need to be greedy on a single one.
Trade 2: A quick in and out continuation trade. It looked from the HTF charts that there was a lot of room after breaking yesterday's low, a lot of momentum, and no real rejection yet, so thought I could at least get a quick scalp out of it.
Trade 3: Obvious huge rejection at the range (from Trade 1) prior to the break. Was going to hold back to the low, but big rejection at that minor low so exited there.
Trade 4: Trend had obviously changed. Minor news caused the spike and then traded the first retracement. Price pulled back bounced off a level and pushed hard back up, I bought on the next bar after it pulled back a bit to the pins of those two little bars next to it.

A lot of movement, but these days when trend flips makes it a little more challenging. As I much prefer trading with trend, I have to remind myself not to develop a bias (and see a trend that is no longer there) and to read the structure to tell me direction.

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Small disciplines repeated with consistency lead to great achievements.
  • #110
  • Feb 15, 2019 9:20am Feb 15, 2019 9:20am
Quoting jmflukeiii
Trade 1: Pullback to support turned resistance. Waited to see if it would break at the prior low, but didn't wait long enough. While the outcome could have been better, feel okay about how this was managed. I gave it some room to breath but didn't work out. As Veni says, lots of opportunities everyday, no need to be greedy on a single one. Trade 2: A quick in and out continuation trade. It looked from the HTF charts that there was a lot of room after breaking yesterday's low, a lot of momentum, and no real rejection yet, so thought I could at least...

i'd like to see more explanation from you if possible. I read your first post on this thread like 10 times but I still dont get it. Maybe because english is not my main language
  • #111
  • Feb 15, 2019 10:22am Feb 15, 2019 10:22am
Quoting emicovi
{quote} i'd like to see more explanation from you if possible. I read your first post on this thread like 10 times but I still dont get it. Maybe because english is not my main language
I'll keep posting and try to provide more detail about trade entries as I did today.

Basically, trend is determined by lower highs and lower lows (LH and LL), or higher highs and higher lows (HH and HL). Opportunities for trades occur at these LH, LL, HH, HL.

Focusing on an uptrend, there will be series of HH and HL. For trend trading, there are two options: (1) breakout above the HH or (2) failed breakout below the HL. It is better to trade with the trend. I prefer trading breakout pullbacks then straight breakouts.

However, there are options countertrend trading, you have two options: (1) failed breakout of the HH and (2) breakout of the LL. For (1), this would be at a higher time frame (HTF) area of importance, and for (2) a breakout pullback is my preferred entry.

EDIT: The little "m" before HH means "micro". Because in between the major swings you will have micro swings that help create entry points (i.e. the failed breakout against the trend, otherwise known as the two-leg pullback)

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Small disciplines repeated with consistency lead to great achievements.
  • #112
  • Feb 15, 2019 10:32am Feb 15, 2019 10:32am
First trade since weeks.
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Risiko birgt immer auch die Chance.
  • #113
  • Feb 15, 2019 12:03pm Feb 15, 2019 12:03pm
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  • #114
  • Feb 15, 2019 12:37pm Feb 15, 2019 12:37pm
Those counter trend failed breakouts and range zone failed breakouts are some of my favorite trades. They are really just liquidity grabs / stop hunts

I stumbled across an If Then order entry EA recently that might be useful to you

http://fxcodebase.com/code/viewtopic.php?f=38&t=67329
  • #115
  • Feb 15, 2019 1:18pm Feb 15, 2019 1:18pm
Quoting rudy5
Those counter trend failed breakouts and range zone failed breakouts are some of my favorite trades. They are really just liquidity grabs / stop hunts I stumbled across an If Then order entry EA recently that might be useful to you http://fxcodebase.com/code/viewtopic.php?f=38&t=67329
Exactly! That's why post 1 here by Veni resonated with me. Wait for the "stop hunts" and then trade. The only nuance I prefer because I think there's more room for error and potential larger payoff is with trend, which is where the counting highs and lows comes into play.
Small disciplines repeated with consistency lead to great achievements.
  • #116
  • Feb 15, 2019 10:44pm Feb 15, 2019 10:44pm
Yeah you gotta have some kind of filter otherwise you’ll be taking the wrong trade with perfect timing a lot lol
  • #117
  • Feb 15, 2019 11:28pm Feb 15, 2019 11:28pm
Quoting montego
{quote} Hi I meant the box and rectangle, i know you can draw a box in mt4, but there are also indis that draw consolidation, was just wondering if it was one of these indis or just draw manually, cheers all.
Here montego, you can get that indi here... https://www.forexmt4indicators.com/b...-metatrader-4/ since Gigant wants to be a pric & not share. Jeesh that frikin indi is free all over the net
Find The Pain Points On Your Chart & Trade Off Those Levels
  • #118
  • Edited 5:40am Feb 16, 2019 3:26am | Edited 5:40am
Quoting GPips
{quote} Here montego, you can get that indi here... https://www.forexmt4indicators.com/b...-metatrader-4/ since Gigant wants to be a pric & not share. Jeesh that frikin indi is free all over the net
But with the indicator you cover the most important thing ..
The PA within the range!
And who tells me better what is the range than me.
Broken leg before BO.
Counter in the range.
And a very important point :

"money is made in the middle, not from right at the top or bottom" by venividivici
Even if you switch the colours to a more clean view.
It limits the view to "above/below the range".
That way I would avoid to watch the reaction on a level I mark for myself..
Finally it s much better to get an own impression of PA than any tool tells me.

✌Guido
Risiko birgt immer auch die Chance.
  • #119
  • Feb 16, 2019 9:21am Feb 16, 2019 9:21am
Quoting jmflukeiii
{quote} I'll keep posting and try to provide more detail about trade entries as I did today. Basically, trend is determined by lower highs and lower lows (LH and LL), or higher highs and higher lows (HH and HL). Opportunities for trades occur at these LH, LL, HH, HL. Focusing on an uptrend, there will be series of HH and HL. For trend trading, there are two options: (1) breakout above the HH or (2) failed breakout below the HL. It is better to trade with the trend. I prefer trading breakout pullbacks then straight breakouts. However, there are options...

thanks very much. My main problem is that sometimes I consider mHH/mHL etc to be HH/HL. So I think trend changes but was my fail. Is it good to follow swings on M5 and trade on M1 based on M5 trend?
  • #120
  • Feb 16, 2019 12:38pm Feb 16, 2019 12:38pm
Quoting emicovi
{quote} thanks very much. My main problem is that sometimes I consider mHH/mHL etc to be HH/HL. So I think trend changes but was my fail. Is it good to follow swings on M5 and trade on M1 based on M5 trend?
Very true! I watch a 5M and/or 15M chart also (occasionally toggle up to a 30M or 1HR if it’s not clear). Others may do it differently, but generally I consider the 5M to provide the trend Im trading and the 1M is just to find the levels and the trigger for entry. You can do it all from the 1M, but to your point, you can sometimes get lost with only that view.

This is why I used range bars for a long time (and still do to some extent) as it makes the chart look more like the line drawing I sent and easier to understand. Time is still an important consideration however so I wouldn’t advocate range bars only.
Small disciplines repeated with consistency lead to great achievements.
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