I’ve read all but maybe 20 pages of this thread. PAT was a beast, piptalk is also great. I’ve seen some great progressions by what seemed to be rookies or not great traders initially. This setup is real nice, I’ve placed a current EA 4hr/1hr, please Let me know if I’m on the same pages. Thank you!
edit: didn’t load pictures
ive noticed a lot of people doing a simple 1:1 ratio, to one his own. When I got into trading early on I was turned onto Wyckoff. The concept made absolute sense but I could never put the patterns into play... This pattern is Wyckoff.
Wyckoff showed that this pattern is representing Trend Change. If we are on the correct pattern selection, 1:1 is hard to profit from as you need more than 50% to profit long term. Try 3:1. Or a combo of trade entries that can equal a 3:1 pip total after TPs are taken.
Ive been demoing cryptos this week end to help spot the pattern. So far so good, BTC rocked me once, but the rest have been positive so far. Just testing, not live.
This is a 5m XRP taken last evening, Take Profit 1 was hit at 1:1. Iíve got Take Profit 2 at 3:1, I need to move the stops to secure a risk free trade.
Im also watching for an additional QM play if this area fails now. I realize it may not be a fresh touch at this point.
Anybody who thinks Iím wrong, please inform me. Thank you!
This order was placed last evening. 3:1. The range seems to have another imperfect QM across the bottom. So Iíll be watching for a continuation buy if it looks correct at that time. Still practicing.
Any pointers will be appreciated.