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Up and under price pattern

  • #2,001
  • Feb 12, 2019 8:56am Feb 12, 2019 8:56am
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  • #2,002
  • Feb 12, 2019 10:46am Feb 12, 2019 10:46am
Quoting johnnysmith
Had this fail on GU today however, can anyone shed light on why? Im new to this pattern so still working it out {image}
I'm still a noob, but this happens often which can take advantage of (iQM - ignored QM).

Quoting Piptalk:

"As a disclaimer:

You are going to get stopped out here and there

The key is small stops and big gains"

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As an aside, is this a valid QM? The pattern looks like an abomination if it is

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I'm having a greater success rate using H1 timeframe and above for these QM structures. Also still using wide stops as I place the stops to beyond what the HH (for shorts) or LL (for longs) are reacting to instead of the formation HH or LL to avoid DM.

I can't seem to make LTF work for now

Does anyone trade these QMs for individual stocks?
Entities should not be multiplied without necessity - Occam's razor
  • #2,003
  • Feb 13, 2019 5:01am Feb 13, 2019 5:01am
Quoting johnnysmith
Had this fail on GU today however, can anyone shed light on why? Im new to this pattern so still working it out {image}

i personaly tend to mark the last bullish candle of the first high in this case ( see pic) so it could be a small winner or at least a break even ....but would could should you know;-)

as frosty85 said you will have losers as with EVERY other methology ( there are no 100% strike rate out there ) but in the end the good RR will give you an positive edge .....
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May the Sheen be with you....
  • #2,004
  • Feb 13, 2019 5:14am Feb 13, 2019 5:14am
Quoting Frosty85
{quote} I'm still a noob, but this happens often which can take advantage of (iQM - ignored QM). Quoting Piptalk: "As a disclaimer: You are going to get stopped out here and there The key is small stops and big gains" {image} As an aside, is this a valid QM? The pattern looks like an abomination if it is {image} I'm having a greater success rate using H1 timeframe and above for these QM structures. Also still using wide stops as I place the stops to beyond what the HH (for shorts) or LL (for longs) are reacting...

looks like an ugly qm if u ask me ^^ ... i try to find always the same pattern ...every set up should look the same to me ... this is a set up iam not willing to take ...that doesnt mean it will not work its just not the blue print i have in my mind but thats something everybody needs to work out for themself .... ;-)
May the Sheen be with you....
  • #2,005
  • Feb 13, 2019 3:06pm Feb 13, 2019 3:06pm
had this short order still in ... :-)
US30
never used it with stocks ...but works with every instrument so just try it and follow your curiosity ;-) @frosty85
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May the Sheen be with you....
  • #2,006
  • Feb 14, 2019 5:06am Feb 14, 2019 5:06am
G'day all,
Small patterns lining up on 5m/15m timeframe CADJPY and AUDJPY,
Currently trying these patterns out on the lower timeframes with lower risk.
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  • #2,007
  • Feb 14, 2019 10:29am Feb 14, 2019 10:29am
Aud Cad from yesterday... order wasnt triggert yesterday .... was around midnight here so spread was wide .... you will loss you will miss you will win ;-)

Aud Usd triggered today ...i like to save my capital so sl moved already ... not always the best you can do ;-)
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May the Sheen be with you....
  • #2,008
  • Feb 15, 2019 11:48am Feb 15, 2019 11:48am
Aud Usd just gave 10 pips to me ...round about 0,5R
moved stop to early ;-) now we are at 3R
could been worse :-)
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May the Sheen be with you....
  • #2,009
  • Feb 15, 2019 6:49pm Feb 15, 2019 6:49pm
Before
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After
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  • #2,010
  • Feb 17, 2019 2:55am Feb 17, 2019 2:55am
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hi guy
why did not act QM here?
pls
  • #2,011
  • Feb 17, 2019 4:24am Feb 17, 2019 4:24am
Quoting atbin
{image} hi guy why did not act QM here? pls

like with every trading methology not every set up will work out .... a fact everybody should accept ;-) there is no 100% strike rate methode!!!

For your trade above i would say take a look at the set up and where it is... i try to take only set ups which take place at s/r zones or h/l of the day you know...
and of course you look at 5min chart ....in these smaller time frames there is more "noise" if you wanna call it like this.. means you will see more fake set ups from my experience so far or more set ups which will not work ( but you will have a much higher RR due to the tighter SL)

take a look at the Aud Usd i posted above ( the one i fucked up ^^ ) see the area around the 2R line ?!
this is the area where you spoted the "qm" at 5min chart ....
see the hourly set up i traded happend at a support area and look at the area at 4R line ..its an area of resistance (a reasonable area to look for a QM in smaller tf)
..... now again look at the area you took the 5 min trade !
its nomansland ! there is no reason to look for a ltf set up at this area... no confluence factors ...
hope you got me mate its a game of probabilities ;-)
cheers
May the Sheen be with you....
  • #2,012
  • Feb 17, 2019 6:07am Feb 17, 2019 6:07am
"there is no 100% strike rate methode!!!" thats true.
Your idea is so good .
Tnx
  • #2,013
  • Feb 17, 2019 7:09am Feb 17, 2019 7:09am
In this method(QM) how to select the best take profit?
  • #2,014
  • Feb 17, 2019 7:50am Feb 17, 2019 7:50am
typical for me last swing high or low.....but most of the time i like to trail the stop (greedy me )
May the Sheen be with you....
  • #2,015
  • Feb 18, 2019 12:10am Feb 18, 2019 12:10am
Couple of pending QMs
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  • #2,016
  • Feb 18, 2019 1:09am Feb 18, 2019 1:09am
Quoting piptalk
Couple of pending QMs {image} {image}
Hi.
More accurate with C / J, I think that the resistance is higher

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  • #2,017
  • Feb 27, 2019 2:00pm Feb 27, 2019 2:00pm
This currently in play in sells
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  • #2,018
  • Mar 11, 2019 10:46am Mar 11, 2019 10:46am
Quoting Trueman23
i personaly scan alot of instruments for a QM Pattern in h1, h4,Daily and try to pick the ones which look very clear to me ... for intrady pattern in 1min,5min 15min i only look at EU,GU,UJ The Good thing is no matter which pair or which timeframe you will find our friend the QM everywhere ;-)
Hi there.

Is there a reason why you look only at those specific pairs for intraday trades?

Thanks!
  • #2,019
  • Mar 11, 2019 12:19pm Mar 11, 2019 12:19pm
Any of you guys daytrading this full time? I wonder how do you keep up with all the markets when you are playing LTF (5-15m). Alerts can help, but still...You have to track and wait for price action to play out, which for one person could be quite overwhelming.

Any input is appreciated.
  • #2,020
  • Mar 13, 2019 7:36am Mar 13, 2019 7:36am
SPX short
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