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Up and under price pattern

  • #3,541
  • Nov 22, 2020 7:13pm Nov 22, 2020 7:13pm
Quoting tommydoginti
{quote} hoping for some range. Waiting for some patterns to show later today or tomorrow {image}
what i see.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #3,542
  • Nov 22, 2020 7:17pm Nov 22, 2020 7:17pm
Hi guys, if this is the case, which QM is more proper? Should we follow the higher QM or the later QM?
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Trading is not easy
  • #3,543
  • Nov 22, 2020 7:37pm Nov 22, 2020 7:37pm
Quoting xiaotiao
Hi guys, if this is the case, which QM is more proper? Should we follow the higher QM or the later QM? {image}
both proper.
you have 3 options.
1. take the lower sell. hope for the best.
2. take the higher sell. your profit will be maximized. but price may not go up there.
3. take the lower sell, and if price go up also take the second sell. then you have higher risk for the first trade.

i see you use macd. what is it for? i see a divergence.

we make our own choices only just because we cannot predict the future.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #3,544
  • Nov 22, 2020 7:39pm Nov 22, 2020 7:39pm
Quoting xiaotiao
Hi guys, if this is the case, which QM is more proper? Should we follow the higher QM or the later QM? {image}
May I provide my hindsight view of your chart. I havent checked or traded this pair before

I probably not trade your first QM because it was not clean enough, although often price would still react to those level.
Within your first QM I spotted 2 bull QM. That could be 2 trades, potential loss and win.
I agree that the last Bear QM is a valid set up. It could be another win.

The 3 QMs are around some structural price levels which added confidence in setting up trades. Just as you can see price didnt respect it in my first setup. From my very small sample size I found QM performs similarly with or without consideration of any levels if trade solely on pattern.

i am still refining my approach on this strategy. So any feedback is welcome

excuse my drawing by hand.
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  • #3,545
  • Nov 22, 2020 7:41pm Nov 22, 2020 7:41pm
Quoting Inthebox
{quote} both proper. you have 3 options. 1. take the lower sell. hope for the best. 2. take the higher sell. your profit will be maximized. but price may not go up there. 3. take the lower sell, and if price go up take the second sell. then you have higher risk for the first trade. i see you use macd. what is it for? i see a divergence. we make our own choices only just because we cannot predict the future. {image}
Thanks for the answer. I use MACD as a supplementary tool to confirm reversal pattern.
Trading is not easy
  • #3,546
  • Nov 22, 2020 7:48pm Nov 22, 2020 7:48pm
Quoting xiaotiao
{quote} Thanks for the answer. I use MACD as a supplementary tool to confirm reversal pattern.
i use macd for only 2 purposes:
1. divergence
2. macd above 0 buy zone, below sell zone.
if you took your sell at the second H HH area, it was a qm zone and also a divergence drawn below.
ITB - Seeing Orderliness amongst 'Randomness'
  • #3,547
  • Nov 22, 2020 8:00pm Nov 22, 2020 8:00pm
Quoting tommydoginti
{quote} May I provide my hindsight view of your chart. I havent checked or traded this pair before I probably not trade your first QM because it was not clean enough, although often price would still react to those level. Within your first QM I spotted 2 bull QM. That could be 2 trades, potential loss and win. I agree that the last Bear QM is a valid set up. It could be another win. The 3 QMs are around some structural price levels which added confidence in setting up trades. Just as you can see price didnt respect...
Hi, thanks for the reply, do je sai
Trading is not easy
  • #3,548
  • Nov 22, 2020 8:01pm Nov 22, 2020 8:01pm
Quoting Inthebox
{quote} i use macd for only 2 purposes: 1. divergence 2. macd above 0 buy zone, below sell zone. if you took your sell at the second H HH area, it was a qm zone and also a divergence drawn below.
Ya, i noticed that, too bad that trade was over long ago
Trading is not easy
  • #3,549
  • Nov 22, 2020 8:14pm Nov 22, 2020 8:14pm
Is this a proper set up?
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Trading is not easy
  • #3,550
  • Nov 22, 2020 8:18pm Nov 22, 2020 8:18pm
Quoting xiaotiao
Is this a proper set up? {image}
Yep
ITB - Seeing Orderliness amongst 'Randomness'
  • #3,551
  • Nov 22, 2020 11:39pm Nov 22, 2020 11:39pm
watching level.
Attached Image
ITB - Seeing Orderliness amongst 'Randomness'
  • #3,552
  • Nov 23, 2020 1:26am Nov 23, 2020 1:26am
Quoting Inthebox
watching level. {image}
there was a reaction at level rn 1.7450.
the pullback may not be strong enough.
ITB - Seeing Orderliness amongst 'Randomness'
  • #3,553
  • Nov 23, 2020 2:15am Nov 23, 2020 2:15am
Quoting Inthebox
{quote} there was a reaction at level rn 1.7450. the pullback may not be strong enough.
hi, how do you determine the weakness of the pullback?
Trading is not easy
  • #3,554
  • Nov 23, 2020 2:18am Nov 23, 2020 2:18am
Quoting xiaotiao
{quote} hi, how do you determine the weakness of the pullback?
watch for ltf qm.
think qm at any significant level.
if qm shows opposite signal, then it's time to change your view.
yes this thread all about qm.
ITB - Seeing Orderliness amongst 'Randomness'
  • #3,555
  • Nov 23, 2020 2:30am Nov 23, 2020 2:30am
Quoting Inthebox
{quote} watch for ltf qm. think qm at any significant level. if qm shows opposite signal, then it's time to change your view. yes this thread all about qm.
For example, there is a bullish QM in h4, then a bullish QM appear in M5 around the H4 QM zone, it will give us more confidence to go for long?
Trading is not easy
  • #3,556
  • Nov 23, 2020 2:32am Nov 23, 2020 2:32am
Quoting xiaotiao
{quote} For example, there is a bullish QM in h4, then a bullish QM appear in M5 around the H4 QM zone, it will give us more confidence to go for long?
will answer you when london session ends.
meanwhile you can throw out a chart for your example.
ITB - Seeing Orderliness amongst 'Randomness'
  • #3,557
  • Nov 23, 2020 2:38am Nov 23, 2020 2:38am
Quoting Inthebox
{quote} will answer you when london session ends. meanwhile you can throw out a chart for your example.
Ok thanks
Trading is not easy
  • #3,558
  • Nov 23, 2020 2:51am Nov 23, 2020 2:51am
market is volatile for gbp because it is trying to make sense of this result in the current situation.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #3,559
  • Nov 23, 2020 4:31am Nov 23, 2020 4:31am
Quoting xiaotiao
Is this a proper set up? {image}
Entered the trade when there was a pin bar above quarter level 1.21750 in M15
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Trading is not easy
  • #3,560
  • Nov 23, 2020 7:14am Nov 23, 2020 7:14am
Quoting xiaotiao
{quote} For example, there is a bullish QM in h4, then a bullish QM appear in M5 around the H4 QM zone, it will give us more confidence to go for long?
anything that is mtf based will provide more confidence.
htf SR, SD, QM.
example of H4 QM zone and m1 QM.
m1 here gave earlier entry but more risky.
otherwise use h4 QM entry.
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ITB - Seeing Orderliness amongst 'Randomness'
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