Roadmap - A Way To Read Markets | Page 120 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Software tools for LauraT's Roadmap 169 replies

Forex Brokerage Roadmap 4 replies

Best way to read all of someone's posts? 3 replies

Simple way to read chart 11 replies

Attachments: Roadmap - A Way To Read Markets
Exit Attachments

Roadmap - A Way To Read Markets

  • #2,381
  • Jun 9, 2020 4:13pm Jun 9, 2020 4:13pm
Saved by the trendlines. I like to trade a little higher lots in attempt to push myself to master the crucial such that I have no blame even of self when a trade goes wrong. In the following trades everything was suporting a sell and I took the trade with confidence. Unfortunately I drew the trendlines after I had entered and then decided that by them I will control my entries even though I had a stop loss set far away from the action. In the little time I spend with the charts, I feel a trader erupting in me. Thanks Laura , Saviour sent.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot_20200609-225402.jpg Size: 539 KB
Click to Enlarge Name: Screenshot_20200609-225423.jpg Size: 239 KB
  • #2,382
  • Jun 9, 2020 9:26pm Jun 9, 2020 9:26pm
Quoting Wightoil
Slightly OT but as above, I always use line charts to draw S/R lines, just seems so much more obvious.
Indeed they are, although in the case of this thread why not use the channels?

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYM15.png Size: 35 KB


From my point of view, I need to spend more time on Laura's take on time frames. That is because whether price is above or below the 200 sma (so generally speaking, long only or short only) all depends on which time frame you are trading.
Good Trading
  • #2,383
  • Jun 10, 2020 4:35am Jun 10, 2020 4:35am
No trading today. Wife has found a few jobs for me and I have Spanish homework to write up.
Retirement simply replaces one job with many other things you suddenly find encroaching upon new found "Free Time"
every Saint has a past. Every Sinner has a Future
  • #2,384
  • Jun 10, 2020 6:56am Jun 10, 2020 6:56am
Took 17 pips on bounce of yesterdays high in eurusd
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 189 KB
MTF PA with indicators = a winning team
  • #2,385
  • Jun 10, 2020 7:17am Jun 10, 2020 7:17am
Quoting turnip15
No trading today. Wife has found a few jobs for me and I have Spanish homework to write up. Retirement simply replaces one job with many other things you suddenly find encroaching upon new found "Free Time"
Do you live in Spain
  • #2,386
  • Jun 10, 2020 7:26am Jun 10, 2020 7:26am
Quoting buzznack
{quote} Do you live in Spain
No I do not but experts suggest that learning a language helps to ward off dementia.

I go there for breaks and am toying with the idea of long winter breaks because I like warmth and sunshine. Tried to persuade the wife to retire to France, at one time, but to no avail.
every Saint has a past. Every Sinner has a Future
  • #2,387
  • Jun 10, 2020 7:35am Jun 10, 2020 7:35am
Quoting turnip15
{quote} No I do not but experts suggest that learning a language helps to ward off dementia. I go there for breaks and am toying with the idea of long winter breaks because I like warmth and sunshine. Tried to persuade the wife to retire to France, at one time, but to no avail.
To be honest, weather and food here in Spain are one of the best combos of the world
  • #2,388
  • Jun 10, 2020 7:38am Jun 10, 2020 7:38am
Quoting hocius
{quote} To be honest, weather and food here in Spain are one of the best combos of the world
would love to move to spain one day hahah ... its a beautifull county
  • #2,389
  • Jun 10, 2020 7:45am Jun 10, 2020 7:45am
Quoting hocius
{quote} To be honest, weather and food here in Spain are one of the best combos of the world
Couldn't agree more I love it here
  • #2,390
  • Jun 10, 2020 9:17am Jun 10, 2020 9:17am
Okay so I marked my ideal entry for my US30 buy, which was a 50% retracement of the bullish shift candle.
I however didn't enter my trade there because I got distracted with work, but I had the chance to still catch the buy train.

Attached Image (click to enlarge)
Click to Enlarge Name: US30 Roadmap entry.png Size: 149 KB


End of the trade and I edited the chart to my preferred colour scheme. There was also a sell opportunity I missed which has turned out to be a decent mini trend.

Attached Image (click to enlarge)
Click to Enlarge Name: US30M6 roadmap profit (2).png Size: 39 KB


N.B: This trade was taken on a 5 ticks chart.
Read in between the price!!!
  • #2,391
  • Jun 10, 2020 10:52am Jun 10, 2020 10:52am
Quoting calebfx
Okay so I marked my ideal entry for my US30 buy, which was a 50% retracement of the bullish shift candle. I however didn't enter my trade there because I got distracted with work, but I had the chance to still catch the buy train. {image} End of the trade and I edited the chart to my preferred colour scheme. There was also a sell opportunity I missed which has turned out to be a decent mini trend. {image} N.B: This trade was taken on a 5 ticks chart.
Just had a look. Seems like Dow had a better move than the Nasdaq today. Well done.
every Saint has a past. Every Sinner has a Future
  • #2,392
  • Jun 10, 2020 12:54pm Jun 10, 2020 12:54pm
Quoting turnip15
{quote} Just had a look. Seems like Dow had a better move than the Nasdaq today. Well done.
The Dow was really a beauty today, there were a lot of winners using the roadmap, unfortunately I couldn't take all
Read in between the price!!!
  • #2,393
  • Jun 10, 2020 2:35pm Jun 10, 2020 2:35pm
Hi All

Thought I'd post this trade setup that caught my eye. Initially a channel cross on the 5min grabbed my attention before I looked at the hourly chart for S&R.

It's a good example of how important and effective S&R can be. I've annotated the chart to show where support has become resistance and vice versa. There are certainly profitable trading opportunities within such a well structured chart and in terms of the Roadmap and a channel cross entry, this was also the case if an entry was made once price moved back into the channel.

I don't trade the hourly chart but if I did I would be inclined to wait for a test of the previous support line to see if it acts as resistance before entering short. If price continues without a retrace to the potential resistance then I would likely pass on the trade where a more aggressive trader may enter straight after the support is broken. By allowing a retrace and move back off the potential support to the downside it reduces your exposure to a possible fakeout.

Attached Image (click to enlarge)
Click to Enlarge Name: 10_06_20EURCHF.png Size: 128 KB



On the same chart on the 15 min TF there was a good opportunity for a channel cross entry (unfortunately not a trade I took). As the SMA is crossed, an entry straight away would be risky as price is outside the EMA. Once price is back in the channel it has travelled some way from the SMA quite sharply and so there is a good chance of some retracement. Price could of course continue down without a retrace but price will often break through a previous support or resistance and go back to retest it before moving back off it (as demonstrated in the hourly chart). This happened here and a nice move down to the next support was made.


Attached Image (click to enlarge)
Click to Enlarge Name: 10_06_20EURCHF15min.png Size: 122 KB


As I said, unfortunately it wasn't a trade I took and I haven't yet established the patience to trade the hourly chart but I felt it was a good example to share, of where structure in a chart is quite clear and when accompanied by the Roadmap entry signals, good trading opportunities with higher probability of success can arise.

Thanks

James
  • #2,394
  • Jun 10, 2020 3:17pm Jun 10, 2020 3:17pm
Quoting bgy2jd
Hi All Thought I'd post this trade setup that caught my eye. s
Absolutely beautiful approach and markup on the chart.
I am overjoyed myself with the wonderful marriage of roadmap and S/R
  • #2,395
  • Jun 10, 2020 3:27pm Jun 10, 2020 3:27pm
Quoting bgy2jd
Hi All Thought I'd post this trade setup that caught my eye. Initially a channel cross on the 5min grabbed my attention before I looked at the hourly chart for S&R. It's a good example of how important and effective S&R can be. I've annotated the chart to show where support has become resistance and vice versa. There are certainly profitable trading opportunities within such a well structured chart and in terms of the Roadmap and a channel cross entry, this was also the case if an entry was made once price moved back into the channel. I don't trade...
That's the power of 'Looking left' we keep referring to on Laura's thread. She is a great teacher.
every Saint has a past. Every Sinner has a Future
  • #2,396
  • Edited 4:09pm Jun 10, 2020 3:54pm | Edited 4:09pm
Hello everyone, it is my first message in the forum, although I have it 120 pages. First of all thank Laura for sharing this strategy, and the patience and education in her responses. It has been a pleasure to read you. Today I have opened several operations in demo, and I think it has not been a very good day, because in most of the channel the SMA has crossed without stopping, in short, there will be better days.

Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 82 KB



As bgy2jd has said, I saw the opportunity in EURCHF, but used to higher TF, I left it for a longer run and waiting for the rebound in my favor in the resistance that there was and it was a mistake.
When the price went away I put it in be, and the wicks took me out, I did not let it breathe much. Of the art Laura demonstrates is the good outings she makes. We will continue practicing.


Attached Image (click to enlarge)
Click to Enlarge Name: Image2.png Size: 106 KB



Criticism accepted, of course.
  • #2,397
  • Jun 10, 2020 4:00pm Jun 10, 2020 4:00pm
Quoting TheG-Lover
{quote} Absolutely beautiful approach and markup on the chart. I am overjoyed myself with the wonderful marriage of roadmap and S/R
Thank you. Totally agree with how well the whole things works together. Had seen a number of your posts as I made my way through the thread and took a lot from them so many thanks for the inspiration.
  • #2,398
  • Jun 10, 2020 5:59pm Jun 10, 2020 5:59pm
Quoting gerval
Hello everyone, it is my first message in the forum, although I have it 120 pages. First of all thank Laura for sharing this strategy, and the patience and education in her responses. It has been a pleasure to read you. Today I have opened several operations in demo, and I think it has not been a very good day, because in most of the channel the SMA has crossed without stopping, in short, there will be better days. {image} As bgy2jd has said, I saw the opportunity in EURCHF, but used to higher TF, I left it for a longer run and waiting for the rebound...
Hi gerval

It looks like you made a good entry when price was back in the channel. Yesterday's low looked like a good place to take profit... I see you originally placed your TP in that area. Did you just decide to let the trade run instead? As you'd marked an area of resistance there and the price got rejected from it a couple of times I'd probably have exited there. Of course, it's easy for me to say in hindsight though!

James
  • #2,399
  • Jun 10, 2020 9:09pm Jun 10, 2020 9:09pm
Haven't had much time to look at charts, but at least I have been able to keep an eye on the thread! Anyways few weeks ago I was able to enter on the 4h chart and closed the majority of the position yesterday Profitability (which is almost unheard of over here). If price breaks todays AR high i will close the rest. Please let me knwo what you guys think. Is there anything i may be missing? Hopefully I will figure out Hanover's tool so i can get alerts when i'm in the middle of nowhere and take some more trades.

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD.jpg Size: 443 KB


Cheers,
Wookie
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD2.jpg Size: 390 KB
  • #2,400
  • Jun 11, 2020 12:29am Jun 11, 2020 12:29am
Quoting bgy2jd
{quote} Hi gerval It looks like you made a good entry when price was back in the channel. Yesterday's low looked like a good place to take profit... I see you originally placed your TP in that area. Did you just decide to let the trade run instead? As you'd marked an area of resistance there and the price got rejected from it a couple of times I'd probably have exited there. Of course, it's easy for me to say in hindsight though! James

Yes, originally the tp was at that point, but I moved it and I couldn't be in front of the pc, so I moved it and put breakeven and the spread and wicks got me out.
You're right, breaking the TL and the minima would have been a good place to go.
0 traders viewing now