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Roadmap - A Way To Read Markets

  • #3,681
  • Oct 9, 2020 7:06am Oct 9, 2020 7:06am
Quoting sr2
{quote} Great example. The issue I have is I don't see these until after the fact! :-( It may be a case of analysis paralysis!
Here be an example of waiting. See price bunching up around 200 and Laura channel plus price also around trend line previously drawn left to right upwards. All meeting but then price breaks above rectangle -5 lines to right of break price is triggered (13053) and off we go. Hope that helps. A case of marking lines and waiting.
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every Saint has a past. Every Sinner has a Future
  • #3,682
  • Edited 9:59am Oct 9, 2020 8:17am | Edited 9:59am
Quoting turnip15
{quote} Here be an example of waiting. See price bunching up around 200 and Laura channel plus price also around trend line previously drawn left to right upwards. All meeting but then price breaks above rectangle -5 lines to right of break price is triggered (13053) and off we go. Hope that helps. A case of marking lines and waiting. {image}
Thanks turnip - very clear. Definitely helps! I am planning on reviewing charts this weekend...will keep an eye open for setups like this. Thanks again
  • #3,683
  • Oct 9, 2020 10:05am Oct 9, 2020 10:05am
Haven't had a chance to trade as much this week but here's a Gold trade I just closed.

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Fresh channel cross - exited when price broke the 55EMA channel around ADR High.
  • #3,684
  • Oct 9, 2020 10:21am Oct 9, 2020 10:21am
Quoting LauraT
Haven't had a chance to trade as much this week but here's a Gold trade I just closed. {image} Fresh channel cross - exited when price broke the 55EMA channel around ADR High.
Hi Laura

You make it look so easy

A few quick questions, if that is OK. I am trying to analyse your entry.

1) Did you enter because price bounced of the "minor" support - my first highlighted area
2) Did you stay in because it bounced off the "minor" support and as turnip mentioned earlier, off (near) the upward trend line as well as 200

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Thank you
  • #3,685
  • Oct 9, 2020 10:23am Oct 9, 2020 10:23am
Hi Laura,

Great thread, just finished reading through your posts and advice, now looking to setup charts in MT4. Would you mind posting your latest template (if it has moved on since Post #3,334) plus a screenshot of the indicators so I can download all the correct indicators please?

Thanks in advance.
  • #3,686
  • Oct 9, 2020 10:33am Oct 9, 2020 10:33am
Quoting sr2
{quote} Hi Laura You make it look so easy A few quick questions, if that is OK. I am trying to analyse your entry. 1) Did you enter because price bounced of the "minor" support - my first highlighted area 2) Did you stay in because it bounced off the "minor" support and as turnip mentioned earlier, off (near) the upward trend line as well as 200 {image} Thank you
Hi

My reasons were different.

I got in on the fresh channel cross because it was also a trendline break (end of bearish momentum). I waited until the retracement had almost played out (thanks Lem!) and went long.

What kept me in was that the channel was still above SMA. However, once I had a bit more profit built up, I wasn't prepared to give too much of it back, hence exiting when price finally broke the 55.

Hope this helps.
  • #3,687
  • Oct 9, 2020 10:44am Oct 9, 2020 10:44am
Quoting Ppk79
Hi Laura, Great thread, just finished reading through your posts and advice, now looking to setup charts in MT4. Would you mind posting your latest template (if it has moved on since Post #3,334) plus a screenshot of the indicators so I can download all the correct indicators please? Thanks in advance.
Hi - sure

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Roadmap Trend Band is only difference to original (apart from second channel) - it replaces RSI and MTF Dashboard. It can be downloaded via the paperclip.

Template:
Attached File(s)
File Type: tpl !!!!!!!!!RoadMapv2 double channel.tpl   11 KB | 1,035 downloads
  • #3,688
  • Oct 9, 2020 10:45am Oct 9, 2020 10:45am
Quoting sr2
{quote} Hi Laura You make it look so easy A few quick questions, if that is OK. I am trying to analyse your entry. 1) Did you enter because price bounced of the "minor" support - my first highlighted area 2) Did you stay in because it bounced off the "minor" support and as turnip mentioned earlier, off (near) the upward trend line as well as 200 {image} Thank you
sr2 I would not use a trend line like that -before it got near the 200 I would have used speed lines to get out. Maybe Laura used the 200 as her 'line in the sand.'
On another more general note to all to whom it applies:
Please bear in mind that Laura has far more patience and experience than I have. You will have to try what appeals to you and your nerves by taking and adapting to your needs. I notice People ask for items such as the "correct indicator' etc. ( Paper clip first page has all indicators by the way). Bear in mind that they alone will not make you profitable; practice and discipline will.
Indicators are simply that -they show where price is and where it came from - NOT where it is going, since that is your guess alone.
The fewer you have =better decision making.
The more you have ( some such charts would not be out of place in the TATE)= more propensity toward indecision. Such indicator infested charts, besides hurting the eyes, show the novice traders reluctance to acknowledge that not all trades win - that he/she (gasp) will have to suffer losses along the way to , hopefully, profitability.
every Saint has a past. Every Sinner has a Future
  • #3,689
  • Oct 9, 2020 10:49am Oct 9, 2020 10:49am
Quoting LauraT
{quote} Hi My reasons were different. I got in on the fresh channel cross because it was also a trendline break (end of bearish momentum). I waited until the retracement had almost played out (thanks Lem!) and went long. What kept me in was that the channel was still above SMA. However, once I had a bit more profit built up, I wasn't prepared to give too much of it back, hence exiting when price finally broke the 55. Hope this helps.
I second that Laura -just waiting and watching often works.

Enjoy your weekend and thanks again for a brilliant thread.
every Saint has a past. Every Sinner has a Future
  • #3,690
  • Oct 9, 2020 10:50am Oct 9, 2020 10:50am
Quoting LauraT
{quote} Hi - sure {image} Roadmap Trend Band is only difference to original (apart from second channel) - it replaces RSI and MTF Dashboard. It can be downloaded via the paperclip. Template: {file}
Thank you for the speedy response Laura
  • #3,691
  • Oct 9, 2020 11:26am Oct 9, 2020 11:26am
Quoting LauraT
{quote} Hi - sure {image} Roadmap Trend Band is only difference to original (apart from second channel) - it replaces RSI and MTF Dashboard. It can be downloaded via the paperclip. Template: {file}
Quoting Ppk79
{quote} Thank you for the speedy response Laura
Hi Laura,

All setup however I can only find RoadMap Trend Band_SubWindow in the attachments, would you mind sharing Roadmap Trend Band when you have a minute please?

Thanks in advance.
  • #3,692
  • Oct 9, 2020 11:28am Oct 9, 2020 11:28am
Thank you Laura, turnip

Appreciate you taking the time to provide feedback and analysis. I have a lot more work to do. Will post more charts as and when.
  • #3,693
  • Oct 9, 2020 11:29am Oct 9, 2020 11:29am
Quoting Ppk79
{quote} {quote} Hi Laura, All setup however I can only find RoadMap Trend Band_SubWindow in the attachments, would you mind sharing Roadmap Trend Band when you have a minute please? Thanks in advance.
https://www.forexfactory.com/thread/...5#post12980075
  • #3,694
  • Oct 9, 2020 11:38am Oct 9, 2020 11:38am
Quoting LauraT
{quote} https://www.forexfactory.com/thread/...5#post12980075
Thanks again Laura, not sure why I didn't see that in the attachments.
  • #3,695
  • Oct 12, 2020 12:56am Oct 12, 2020 12:56am
First trade using this system. Thanks a lot Laura
closed at +21
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  • #3,696
  • Oct 12, 2020 2:58am Oct 12, 2020 2:58am
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GM! First trades didnt work out so closed for 2% minus!!
Then it was not textbook, but eventually got my lost back plus 2% plus for the day!!
My TP was at prev low, but impatience and fear of losing made me close one candle too early!!!
Day 4 of 20 still profitable, but i seriously have to work on being patient!!! Note to self!!
Am off to other chores and wish all a good day!!

WAIT!!!!! Wrong chart, am searching for he right one!!!! Sorry!!!
  • #3,697
  • Oct 12, 2020 3:08am Oct 12, 2020 3:08am
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This is the chart of today!!
The comments of previous post applies!!
Have a nice day!!
  • #3,698
  • Oct 12, 2020 3:19am Oct 12, 2020 3:19am
New week, new opportunities

Oil short. Exited on spike in my favour.

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  • #3,699
  • Oct 12, 2020 3:34am Oct 12, 2020 3:34am
Nas long , what a runner an example of If I didn't exited at the spiked and stay in the trade till the price close below ema 8 channel according to Laura ,too bad I closed too early
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  • #3,700
  • Oct 12, 2020 3:40am Oct 12, 2020 3:40am
2nd Trade of the day, let's see
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