Roadmap - A Way To Read Markets | Page 89 | Forex Factory

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Roadmap - A Way To Read Markets

  • #1,761
  • May 18, 2020 7:30am May 18, 2020 7:30am
Quoting LauraT
{image} Multi-bullet short. Original entry was late but only entered half-size. Added second bullet at touch of trendline. Closed when price dropped to lower trendline.
Same trade, entry from M15 after PA at down arrow. Still holding the short.

Regards,
Blackeagle
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  • #1,762
  • May 18, 2020 7:37am May 18, 2020 7:37am
Quoting LauraT
{image} Shorted this but it was pretty aggressive entry as price was still rising. I advise you to wait for confirmation of bullish momentum being done. However, main reason I wanted to show this trade was as a reminder about drawing speed lines. You'll notice I originally drew the green line marked 1 and, as the decline accelerated, I was able to add a steeper speed line marked 2. I exited when my speed line was broken.
Do you wait for the bar to close once the speed line was broken or exit as soon as it break? because I have noticed that some times it just comes out of an existing speed line and then only to continue at a different angle.
  • #1,763
  • May 18, 2020 7:39am May 18, 2020 7:39am
Quoting Blackeagle
{quote} Same trade, entry from M15 after PA at down arrow. Still holding the short. Regards, Blackeagle {image}
Lovely
  • #1,764
  • May 18, 2020 7:40am May 18, 2020 7:40am
AU from today
When I entered
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Exit - got out at YH, when I felt there is not enough momentum to take it ADR High, as it was struggling to get to YH for last 3-4 bars. It might still go to ADR High - as RSI and SMA MTF is all green, I decided to cash in at YH, better take what is available now

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  • #1,765
  • May 18, 2020 7:43am May 18, 2020 7:43am
Quoting karun
{quote} Do you wait for the bar to close once the speed line was broken or exit as soon as it break? because I have noticed that some times it just comes out of an existing speed line and then only to continue at a different angle.
Usually best waiting for bar close. If I remember correctly, I think the bar was just about to finish when I got out.

You're right, occasionally it'll keep drifting in your direction, at a slower speed. I prefer to move on to other opportunities when that happens but you can choose to stay in as long as you know where the exit is.
  • #1,766
  • May 18, 2020 7:48am May 18, 2020 7:48am
Quoting turnip15
One of those mornings I wish I was trading live. However, after my Spanish lesson I was playing about drawing lines when I saw the base that the price rocketed from Long above the 200. The pinky bar/base just reminds me to keep an eye on the left of price to spot consolidations/pauses in price that are broken or revisited before moving on. The blue lines are the result of me being overcome by the urge to draw trend and speed lines EDIT: Should have added that the 200 ma also supported the price...
Great point Turnip 15.
As I am still working to capture what has helped me go from 25% winners early with roadmap to over 70% to share on this forum, this is one of the key points I have captured.
Always Look Left!
A significant portion of my losers came when I was just focused on a "zoomed in chart" in one time frame. Solely relying on the 8ema/200sma, etc.
Price action is very important and previous price action must always be in consideration for trade entry, stop losses and price objectives.

I would say when I am "in the groove" and hitting winning trades, the best analogy might be it feels like conducting an orchestra. You feel the beat of the market, you can hear "see" all the parts (roadmap indicators, price action, trend lines, support-resistance) all in harmony.

As I reviewed for my journal the losing trade I had last night (POST 1707), There are some of these points that I failed to properly address in my trade.
I sat down, started drawing lines, etc and entered the trade in a rush, versus a steady assessment.
Would I have still entered the trade with that steady assessment, impossible to say now because of bias as it played out.
But there is no doubt, I was biased to trade after being away from trading over the weekend.

Still a long ways for me to go to be a great trader.....
  • #1,767
  • May 18, 2020 7:54am May 18, 2020 7:54am
Quoting learnnearn
EURNZD-- another trade running +28 pips {image}

Closed with good profit
  • #1,768
  • May 18, 2020 7:57am May 18, 2020 7:57am
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Run of the mill channel cross. Waited for retracement (sometimes I can be patient!) to get in. Exited when my speed line was broken.
  • #1,769
  • May 18, 2020 8:07am May 18, 2020 8:07am
USDCAD channel trade. Exited on spike to Friday's low.
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  • #1,770
  • May 18, 2020 8:11am May 18, 2020 8:11am
Quoting LauraT
{image} Run of the mill channel cross. Waited for retracement (sometimes I can be patient!) to get in. Exited when my speed line was broken.
I wish I could trade like you madam
  • #1,771
  • May 18, 2020 8:19am May 18, 2020 8:19am
Quoting LauraT
{image} Run of the mill channel cross. Waited for retracement (sometimes I can be patient!) to get in. Exited when my speed line was broken.
Great stuff Laura. One doesn't see FTSE traded so often on these forums :-)
every Saint has a past. Every Sinner has a Future
  • #1,772
  • May 18, 2020 9:34am May 18, 2020 9:34am
Thank you Laura!! Great effort,a well refined strategy with real examples, heavenly!!
  • #1,773
  • Edited 10:40am May 18, 2020 9:48am | Edited 10:40am
Hi LauraT! I have a noob question. In situation like this, this instrument is near sma in differents TF. What are the criterias would you use to choose and focus on ?

Thank you
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  • #1,774
  • May 18, 2020 9:57am May 18, 2020 9:57am
I posted this on the wrong thread -duh. And only now noticed and deleted it. Short and long on pink levels
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every Saint has a past. Every Sinner has a Future
  • #1,775
  • May 18, 2020 10:30am May 18, 2020 10:30am
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Shorted Gold after a break of retracement line.

Note that I don't pay as much attention to ADR for indices/oil/gold - much more meaningful for currencies.
  • #1,776
  • May 18, 2020 11:04am May 18, 2020 11:04am
Quoting juliojapan
Hi LauraT! I have a noob question. In situation like this, this instrument is near sma in differents TF. What are the criterias would you use to choose and focus on ? Thank you {image} {image} {image}
It depends on the TF you are trading. If you are on M1-M30, then I would think that at least 2 of those time frames need to be in the direction of your trade + RSI supporting the direction. Similarly if you are on H1+ then at least 2 from H1-W1 time frame need to be in the direction of your trade + RSI.

That is the basic criteria, Laura can confirm.
  • #1,777
  • May 18, 2020 11:05am May 18, 2020 11:05am
Quoting turnip15
I posted this on the wrong thread -duh. And only now noticed and deleted it. Short and long on pink levels {image}
That's it for this afternoon.Very pleased with result. Good luck all who stay.
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every Saint has a past. Every Sinner has a Future
  • #1,778
  • May 18, 2020 11:19am May 18, 2020 11:19am
Thanks to LauraT, Today +84 pips. Strategy working well with 82% wining rate in last 3 days.
Consistency & Patience
  • #1,779
  • May 18, 2020 12:43pm May 18, 2020 12:43pm
Quoting dietcoke
Hi Laura, I've been trying your system out and while its probably not for me, I did notice that the 2 RSI indicators were a bit of a performance lag on my system so I've tweaked the composite RSI and have written my own trendstrength version. I've opened up a few more input options on both as well, including a configurable refresh period for the trendstrength indi. They are both much less cpu intensive now. {file} {file}
Hi,

Can you add an option to adjust FONT size too?

Thank you
  • #1,780
  • May 18, 2020 1:41pm May 18, 2020 1:41pm
Hello! I'm new to Forex Factory and I love the positive vibes from this thread.

I've been reading and catching up on all the comments. So far I am only on Page 18.

GBPUSD 1H - Short Position from ADR High

The Price tested the Previous Daily Open and attempted for the Day High but was unable to close above.
On the M15 Chart, the PA has been bouncing off of the ADR High which is starting to look like Resistance.

The Price from H1 - W1 are all below the SMA. Although the RSI is still 54.. It is a risky trade.

I went in a little late but I set my TP just above the Daily Low. I'll be keeping an eye on the trade and manually adjusting it as we go.

Would this be a valid trade? Any suggestions what I should do for future trades?

Thanks!

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