Disliked{quote} im done marking this one. Thanks for the exercise, bro. Price now between the trick zone and upper FLs. {image}Ignored
RIP RTM - long live Nonsense Trading
ReadtheMarket - Supply and Demand with Price Action
I wanted to make a comment about something that was discussed the other day regarding engulfs, and how they don't always work. So I made 2 trades today. The first trade was made in the middle of the move to the left. When trading in a middle of a move, you always have to be careful because it's very possible price wants to retrace deeper into the move, and it can break the rules doing so (or its possible i just mis-read it lol). Some people don't trade in the middle of the move at all for this reason (and they do miss trades because of this, but also save a lot of headache).
So we have what looks like a pretty good quasimodo. Price bounces right off my entry (compression approach is always nice). Now, usually i'll take half around 1 or 2R when i'm in areas like this just to cover my trade (especially because i get a compressed reaction). But I decided to try to pull a few more pips beyond the "engulf". Guess what happens? Price doesn't reach my "engulf" and shoots back the other way, ending my trade. I should have taken my 2R at my usual tg1.
Point is, engulf is pretty powerful, but you have to understand it within the broader picture. Ideally you have these moves happen around HTF areas (my trade was definitely not in a HTF area). And trading in the middle of a move requires more vigilance. Sometimes its better to just avoid them for your own psychology. Price ended up turning much better at the level below my first entry. Do I have the patience to potentially miss a trade for a better one, or make trading a bit more stressful for potentially more reward?
So we have what looks like a pretty good quasimodo. Price bounces right off my entry (compression approach is always nice). Now, usually i'll take half around 1 or 2R when i'm in areas like this just to cover my trade (especially because i get a compressed reaction). But I decided to try to pull a few more pips beyond the "engulf". Guess what happens? Price doesn't reach my "engulf" and shoots back the other way, ending my trade. I should have taken my 2R at my usual tg1.
Point is, engulf is pretty powerful, but you have to understand it within the broader picture. Ideally you have these moves happen around HTF areas (my trade was definitely not in a HTF area). And trading in the middle of a move requires more vigilance. Sometimes its better to just avoid them for your own psychology. Price ended up turning much better at the level below my first entry. Do I have the patience to potentially miss a trade for a better one, or make trading a bit more stressful for potentially more reward?
RIP RTM - long live Nonsense Trading
This is for who follows IF posts sincerely . Bit more advanced but i am not going to give away instead you can find the answers on your own. This NZ eng happened from a FL , those who trade this with conventional RTM method will loose. because their stop is just above that FL. but priced faked this FL and entered another scale and turned down. Is there any way to identify the FO before it happens and how far price can travel in another scale is bigger questions. if you can find the answers then ........... So instead wasting around here with noobies...
TG hit. So even with conventional RTM there was no setup.
- #4,771
- Feb 26, 2019 8:43am Feb 26, 2019 8:43am
I will try to answer the M1 zone that i forgot to answer before.
There was an M1 zone inside the H4 FL, but it was so small?
For now i can only answer this one. the 2 remaining is still on progress.
There was an M1 zone inside the H4 FL, but it was so small?
For now i can only answer this one. the 2 remaining is still on progress.
Ask, and it is given. Every single time, no exceptions.
- #4,779
- Feb 26, 2019 4:00pm Feb 26, 2019 4:00pm
- Joined Dec 2006 | Status: Backtest is meaningless (to me) | 2,176 Posts
