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Roadmap - A Way To Read Markets

  • #2,361
  • Jun 9, 2020 5:20am Jun 9, 2020 5:20am
Thank you Laura for your amazing system and your contribution.

Still reading the thread nevertheless here's my first attempt at this (yesterday).
AUDCHF win
USDCAD win
NZDJPY win
EURUSD loss

any feedback is welcome
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  • #2,362
  • Jun 9, 2020 5:27am Jun 9, 2020 5:27am
Hi, I'm facing this issue only with WTI/Oil chart, my ADR high and low lines seem to stay in the same level i have marked the ADR lines in the screenshot it's high and low are in the same line, is anyone facing this issue? or its just me. would really appreciate an answer to this, thanks!
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  • #2,363
  • Jun 9, 2020 6:15am Jun 9, 2020 6:15am
Quoting Salman21
Hi, I'm facing this issue only with WTI/Oil chart, my ADR high and low lines seem to stay in the same level i have marked the ADR lines in the screenshot it's high and low are in the same line, is anyone facing this issue? or its just me. would really appreciate an answer to this, thanks! {image}
It usually happens when there isn't enough downloaded data for the instrument. Try scrolling out on your charts or reloading history.
  • #2,364
  • Jun 9, 2020 6:16am Jun 9, 2020 6:16am
Quoting vocc242
Thank you Laura for your amazing system and your contribution. Still reading the thread nevertheless here's my first attempt at this (yesterday). AUDCHF win USDCAD win NZDJPY win EURUSD loss any feedback is welcome {image} {image} {image} {image}
Welcome a solid start!
  • #2,365
  • Edited 7:08am Jun 9, 2020 6:34am | Edited 7:08am
Okay so as promised, in this post you'd find what type of trades to look out for. Do this consistently enough and your mind can open your eyes to other possibilities and build your intuition of price movements.

Now I do not trade time bars I use price charts (renko and ticks) but for this purpose I'll use screenshots of charts already posted here.

In using the roadmap it's my humble suggestion you do the following:
i. Look for candles closing outside the ema channel.

ii. Take only trade signals that occur on the 200 sma or as close to it as possible.

iii. Wait for shift candles; shift candles are candles which are usually larger than previous most recent candles and most times indicate a shift in trend direction or confirmation of existing trend.

iv. It's okay if price is on the other side of the 200 sma but the shift candle and ema channel should be in the direction of intended trade, this means for a sell, shift candle and lower ema or both emas should be below the 200 sma and for buy, shift candle and upper ema or both emas above the 200 sma.

v. When shift candle closes for trade entry please wait for a retracement to the top or bottom of that candle or 50% of the body size. However in a buy signal if price closes below the shift candle's low then wait for a new bull candle close, same applies for sell signals if price closes above shift candle's high, wait for a bearish candle close. So you'renot on the wrong side of the market.

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Now sometimes price can move suddenly and leave the ema behind like in this chart below so you can either wait for the ema or just enter trade after the retracement. Trendlines like Laura explained also help a great deal

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Finally, like you've heard before, avoid choppy markets look out for charts with smooth flow of price, let it flow baby

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Read in between the price!!!
  • #2,366
  • Jun 9, 2020 7:22am Jun 9, 2020 7:22am
For the oil fans here
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every Saint has a past. Every Sinner has a Future
  • #2,367
  • Jun 9, 2020 8:42am Jun 9, 2020 8:42am
Took eurusd with RSI very positive and MTF all green when it bounced off market open, got out at yesterdays high for 22 pips.
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MTF PA with indicators = a winning team
  • #2,368
  • Jun 9, 2020 8:45am Jun 9, 2020 8:45am
and the mirror image in USDCHF when it went below yesterdays low, took 24 pips
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MTF PA with indicators = a winning team
  • #2,369
  • Jun 9, 2020 8:53am Jun 9, 2020 8:53am
Quoting Wightoil
{quote} Normally when I see a choppy ranging market like that, unless I am on the Daily, I just move right along to the the next pair so it was interesting to look at the structure from a different point of view. This was a useful analysis and summed it up well, thanks for the work on it.
Hi Wightoil,

Thanks. I have to agree with you in that I'd most often see a range and just move on. I probably should have said that there was a prevailing significant uptrend prior to the ranging area and I've often found this kind of setup can be good when the breakout is in the same direction as the prevailing trend. If it had broken downwards out of the range in the same manner I wouldn't have had the same confidence in opening a sell trade. Of course, the area the RSI was in (>80), a Roadmap sell entry signal would unlikely have been on the cards had price moved in that direction, which is testament to the indicator in keeping you out of that type of trade.

James
  • #2,370
  • Jun 9, 2020 9:00am Jun 9, 2020 9:00am
I got lucky on this one. I liked the huge slope and RSIComp at 74 when I got in the trade. Unfortunately, I set my take profit on my live acct at yesterday's high when I left my desk to make breakfast & when I came back, the trade was over. I'm not complaining. The attached screenshot shows the result of my demo acct trade.
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  • #2,371
  • Edited Jun 10, 2020 12:38am Jun 9, 2020 9:30am | Edited Jun 10, 2020 12:38am
when there is a good trend, keep an eye on the low high 8ema bands
trading is like dancing, don't think and just listen to the music!
  • #2,372
  • Jun 9, 2020 9:49am Jun 9, 2020 9:49am
Nasdaq so far = One short Stopped Out and one Long winner.
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every Saint has a past. Every Sinner has a Future
  • #2,373
  • Jun 9, 2020 11:06am Jun 9, 2020 11:06am
Well, I was waiting for a short below pink rectangle but price went long instead without triggering a short. Price now drifting and I am done for the day.
Back tomorrow.Not a bad day today. Very pleased.
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every Saint has a past. Every Sinner has a Future
  • #2,374
  • Jun 9, 2020 1:32pm Jun 9, 2020 1:32pm
1min DOW entry long from earlier today ,that was it for the day..busy day at work.
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  • #2,375
  • Jun 9, 2020 2:18pm Jun 9, 2020 2:18pm
Quoting turnip15
Well, I was waiting for a short below pink rectangle but price went long instead without triggering a short. Price now drifting and I am done for the day. Back tomorrow.Not a bad day today. Very pleased. {image}
Just looked at the chart, out of curiosity, where I left off . And marked up the chart with hindsight trades ( See blue crosses and ticks plus speed lines) for amusement.The Short I was waiting for would have Failed, if I had hung around to take it, and the rest were a mix of good and not so good. Again Laura's speed lines figured on the chart - Enter then mark two points as soon as they appear and gauge/nurse the trade. Notice how price drifted across - more or less -to meet the rising 200ma.
Goodnight all.
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every Saint has a past. Every Sinner has a Future
  • #2,376
  • Jun 9, 2020 2:29pm Jun 9, 2020 2:29pm
Quoting turnip15
{quote} Just looked at the chart, out of curiosity, where I left off . And marked up the chart with hindsight trades ( See blue crosses and ticks plus speed lines) for amusement.The Short I was waiting for would have Failed, if I had hung around to take it, and the rest were a mix of good and not so good. Again Laura's speed lines figured on the chart - Enter then mark two points as soon as they appear and gauge/nurse the trade. Notice how price drifted across - more or less -to meet the rising 200ma. Goodnight all. {image}
Honestly I see only 1 real speedline, personally I like a line chart to draw them in real time action trading the 1m...

Edit :maybe I don't see 1 at all .. My speedlines are much more momentum based, steeper...
  • #2,377
  • Jun 9, 2020 2:39pm Jun 9, 2020 2:39pm
Slightly OT but as above, I always use line charts to draw S/R lines, just seems so much more obvious.
  • #2,378
  • Jun 9, 2020 3:23pm Jun 9, 2020 3:23pm
A good day today, 6 trades of which 2 are still ongoing and green, 1 loss. Value ratio of 4:1 so far - I messed up a losing exit as I was not looking.
Weeelll, actually there were 7 trades.... I completely fat fingered one and accidentally bought 0.5M £ of copper with a SL one knat's kneecap away. ... but that's what demo trading is for, so we don't count that...

Shorted this one on the bounce off the ADR High

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Re-entered the copper properly this time with the kiss off the SMA.

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  • #2,379
  • Jun 9, 2020 4:02pm Jun 9, 2020 4:02pm
Quoting Patje
{quote} Honestly I see only 1 real speedline, personally I like a line chart to draw them in real time action trading the 1m... Edit :maybe I don't see 1 at all .. My speedlines are much more momentum based, steeper...
When I write 'Speed line' I include 'trend lines,' I am just too lazy to differentiate between them. But I know which is which.
every Saint has a past. Every Sinner has a Future
  • #2,380
  • Jun 9, 2020 4:03pm Jun 9, 2020 4:03pm
Quoting Wightoil
Slightly OT but as above, I always use line charts to draw S/R lines, just seems so much more obvious.
Each to their own as they say
every Saint has a past. Every Sinner has a Future
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