Is trading by levels possible

No trading advise
Not my system.
Arrow only for confirm.
Histogram, historic indicator only for explore
Do your own MM.
Trading in H4.

Rule set by Sam69
I look for candle close at a level by first touch.
This means price moves up/down from a major level to next one and touches it first time. If this candle closes above/below it I will buy/sell it at this level,

Confirmed rule by FerruFx
"you always wait the candle to close ... then the direction is defined by the side where the candle closed. Below the level = SELL, above = BUY."

Stop loss - If you're looking to place a trade on a 4 hr charts - place the stop loss at the high/low of the previous daily candle or the previous frachtal of the H4 TF. That way you give your trade enough room to breath and time to mature. Don't place them on the same timeframe you're looking to trade, but that is not possible with a small account After that, trail the stop-loss using the low/high of the daily candle (low/high depending on where the trend is) Money management is a universally acclaimed principle and I am not banning it just that it's not enough. You need to preserve your capital, having a high-probable entry and managing your trade away from the fire i.e placing your stops too close.

There is a better alternative: Dont use SL (as you lose immediately so and so much points) but use Attache Lock (AL) or freezing loss, by enter a trade with same lot size, at the point where you want to set SL, then wait for clearer situation. But if capital allow, cut loss early at broken fractal level in M15 is easiest practice.

For tp set TP at next higher/lower fibo level, or nearest Resistance/Support level in H4

Fantastic charts,keep posting.Are you a rocket scientist?

No scientist. Only keeping record of what I see now how I would trade.
Keep this record here just force me being honest to myself
let wait and see what happen by EOD, end of Wednesday and end of Friday.

And you consider every one of those lines to be major?

To get the start point and the space, I use different logic than Sam69 has observed with his few markets on FXCM. From then to now he has not released a formula, and nobody has found a way to calculate them. for example for GU, what is relationship 162, 54, 27 have together with GU? we know only 162/3=54, and 54/2=27.

So in mine major lines do not start exactly obliged Sam69's rule, 122 in stead of 162. but I have a
hard rule taken by Sam69
hard rule for drawing major/medium/mini lines
>>>> hard method for long/short

the calculation for space and start point I base on MML and Abonacci (hence you see the 100% phase on right hand side, I left 38.2%, 61.8% and 79% sectors only as Bank often aims for 40%, 60% rather all the rest of common fibonacci levels). That is very wrong, some of Sam69 followers would say . But the common sense is: To get from Cairo to Rome, using the same hard rule, it does not matter I see on the road side the 2130 kilometers mile stones or 1324 miles mile stones I should reach Rome eventual.

ECAD, my issue with Sam69 tactic is the SL is very large, in EURCAD that would be 122 pp, this leaves enough room for the price to breath, but not suitable for small account

why AUDJPY was so wrong?

why was CHFJPY wrong?
PS: test with a new entry SELL (ES)
Result: Price did fall to 116.39 (the lower Major level) at 12:37PM 27/08/2020

differences between market which reacted strong, opposite or not at all, at Monday the time trade decisions were made in the excel table of post #9, (in hindsight)

Hi NKT,

Why don't you use simply the main levels 00,50,20,80
Have a look at the pictures, I am working on an approach using them, you can see clearly that they are pretty consistent

two trade went wrongly in negative. I mark and check the chart again. expect EN and GJ should follow the level trading rule before next Monday. This large DD is the disadvantage of H4 trading, a enough large account and MM lot management must be followed or you will be margin called out of the trades.

Some told me better trade with max leverage 5 or 10, how big should capital be to see any reasonable return? like 2% a week

Could some one help me with a simple calculation required capital on mini or micro account 0.01 lot for example

Why? Because on the ground of Confluence and Difference.

I seek reason to convince me to trade, but try being different than the crowd, BigBoys knows all the Oscillator, trend, Support and Level, Supply and demand zones, common pivot, the main and quarter level very well, with vast capital they are able to have their sophisticate program robot aim at those level to SL hunt, trap order.

You could see my medium, mini and Major lines cover area of importance, but still different to allow me out side the hunt.

You do manual I have the idea to merge Do you have key levels merged with a horizontal or e-trendlinetrading EA? Would you share the code so I can assimilate my method to similar EA too?

Thank for reading

AUDCHF

If I use H4 price come from below, first touched 0.65920, but in the enlarged H4 chart price closed below so there should be an entry for SELL.

price continue to grow... Is it possible to argue in the D1 TF, price first touch 0.and closed above it, form an positive inside bar pattern. hence now price is in range until break out of that range.