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1M Price Action System

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  • #141
  • Dec 27, 2020 9:42am Dec 27, 2020 9:42am
Literally out of control 2021 I’m trading this full time. With the amount of volume on a daily basis makes trading forex boring. Still gonna trade GBP pairs but on weekends and holidays. I could of been really killing it now. I just need to find a broker that has a reasonable spread on BTC
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  • #142
  • Dec 27, 2020 10:40am Dec 27, 2020 10:40am
Quoting D1n3r0
Literally out of control 2021 I’m trading this full time. With the amount of volume on a daily basis makes trading forex boring. Still gonna trade GBP pairs but on weekends and holidays. I could of been really killing it now. I just need to find a broker that has a reasonable spread on BTC {image}
Do you only trade hidden bullish divergences?
  • #143
  • Dec 27, 2020 2:36pm Dec 27, 2020 2:36pm
Quoting PixelSniper
{quote} Do you only trade hidden bullish divergences?
Honestly I’ve been trading a lot of bullish hidden divergence from retracement from highs between 50-61.8 and then bullish regular divergence off the lows from the day. Ive actually been going over different things and instead of just buying I should just trade one way which is regular divergence off of the highs or lows of the day. It just makes more sense pips wise. Just look at how this was a $1000 drop exposure. That could of been taken advantage of in a major way. OP turned on the light bulb with his charts and responses.
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  • #144
  • Dec 27, 2020 3:06pm Dec 27, 2020 3:06pm
I’m going back and forth throughout the day and checking out the chart for BTC. I want to get in sync with the movements and make sure the technicals are being respected. Regualar Divergence at the top. Means it’s a possible full out reversal in play. Drops shows hidden divergence but doesn’t continue to make new highs and respects Regular Divergence at the high then turn around and gives us bearish hidden divergence and starts pushing lower. I honestly would of only sat on regular divergence made my money and turned off my computer for the day and not concern myself with all the middle action
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  • #145
  • Dec 28, 2020 12:48am Dec 28, 2020 12:48am
Quoting bilal1947
Notes: We have learnt what is OB now will discuss price inefficiency/imbalance/fair value gap. The gap between the wicks when price just go in one direction and forgets to tag the last sell candle. {image}
Hello Bilal, going through your tgread, I have learnt a couple of things. I am testing your strategy on a demo acount and am happy with the result.
Concerning your post on market gap. I thought the chart below is a gap.
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  • #146
  • Dec 28, 2020 2:37am Dec 28, 2020 2:37am
Quoting Floxzy9
{quote} Hello Bilal, going through your tgread, I have learnt a couple of things. I am testing your strategy on a demo acount and am happy with the result. Concerning your post on market gap. I thought the chart below is a gap. {image}
Yes, this is a the gap between prices when market reopens.
"Exchange of hands"
  • #147
  • Dec 28, 2020 2:39am Dec 28, 2020 2:39am
Lets observe convergence/hidden divergence with market structure how it reacts.

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"Exchange of hands"
  • #148
  • Dec 28, 2020 5:28am Dec 28, 2020 5:28am
Only moved a total of 46 pips today so I didn’t want to stretch my limits on this trade even though what I see is accurate. I’m not supposed to be trading until the Monday after New Years but this was just too easy. I scaled in a bit early first trade and decided to fully commit and take up another trade which wasn’t the plan but it’s like FOMO always gets the best of me. I got a total of 23 pips and 11 pips was pretty much my full lot size so I hit my core for the day which is 10 pips. Let me add that the stop loss would of been on the left leg of the divergence. Don’t want to make the chart seem better than what it is.
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  • #149
  • Edited 7:37am Dec 28, 2020 7:01am | Edited 7:37am
Closed 0.45 and BE the rest
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update:
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"Exchange of hands"
  • #150
  • Dec 28, 2020 7:10am Dec 28, 2020 7:10am
Quoting bilal1947
{image}
Looks like a beautiful set up. Man I hit my core for the day and decided to jump In another trade a long GBPUSD @1.34830, didnt even go against me but started a small sell off and I closed at a little above break even. 10min later explosion smh. I honestly was expecting another sell off and didn’t want to scale in with 2 positions
  • #151
  • Dec 28, 2020 7:32am Dec 28, 2020 7:32am
Hi,
had a good read through the thread (great by the way) just struggling with one part. how do you calculate the grey area trade entry ? i get the break of structure just not sure how to define exactly the entry area (pull back area)
I know this has been explained before but im not getting it. could i have an idiot proof explanation please.

Thanks.
  • #152
  • Dec 28, 2020 7:42am Dec 28, 2020 7:42am
Quoting nihilist23uk
Hi, had a good read through the thread (great by the way) just struggling with one part. how do you calculate the grey area trade entry ? i get the break of structure just not sure how to define exactly the entry area (pull back area) I know this has been explained before but im not getting it. could i have an idiot proof explanation please. Thanks.
Thank you for asking the question, all the down candles are retested before price moves up. we have to buy when sell candles meet thats how market moves in all time frames, some times it tags two three times too. but leave those cases try to see when price comes back it will tag to some down candle and become bullish again.

The ones which are already tagged assume them dead for now, and price has to retest the fresh untagged ones and move.

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it is the concept i try to explain in below posts:
https://www.forexfactory.com/thread/...7#post13331427
https://www.forexfactory.com/thread/...6#post13330556
"Exchange of hands"
  • #153
  • Dec 28, 2020 7:44am Dec 28, 2020 7:44am
Quoting bilal1947
Closed 0.45 and BE the rest {image} update: {image}
You KILLED THAT TRADE!!! Excellent!!
  • #154
  • Dec 28, 2020 7:50am Dec 28, 2020 7:50am
Thank you for your reply,
So in a bullish divergence we are looking for break in structure, then a pull back to the 1st bearish candle prior to BOS ?
  • #155
  • Dec 28, 2020 7:52am Dec 28, 2020 7:52am
Bilal1947 dropping gems and I missed it
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  • #156
  • Edited 1:58pm Dec 28, 2020 8:00am | Edited 1:58pm
Quoting nihilist23uk
Thank you for your reply, So in a bullish divergence we are looking for break in structure, then a pull back to the 1st bearish candle prior to BOS ?
Well after BOS we mark all the untested sell candles before the BOS and expect the price to retrace back to them making a HL we will see the reaction to each one of them and enter accordingly.

Please practice on demo first!
"Exchange of hands"
  • #157
  • Dec 28, 2020 8:03am Dec 28, 2020 8:03am
Quoting bilal1947
{quote} Well after BOS we mark all the untested sell candles before the BOS and expect the price to retrace back to them we will see the reaction to each one of them and enter accordingly. Please dont fall into the trap of my lot size it is a demo account only. Your real money is precious so use it wisely. I dont depends on forex for living. It my learning journey which i may need later on. Please practice on demo only!
Lovely, thanks so much for the explanation, I will watch observe and test.
Thanks,
  • #158
  • Dec 28, 2020 8:39am Dec 28, 2020 8:39am
some retest/mitigations just to train the eyes , that where one should enter for a perfect entry, no matter what ever trading method one use.

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"Exchange of hands"
  • #159
  • Dec 28, 2020 11:19am Dec 28, 2020 11:19am
Quoting sanaullah79
gbp usd m5 trade {image}
yesterday trade called by you has given 140+pips superb.
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"Exchange of hands"
  • #160
  • Dec 28, 2020 11:32am Dec 28, 2020 11:32am
Can we buy now because their is a divergence?
Nooooo!

but why?????
because, price is making lower high and lower low which is a bearish price action!

so when we can buy?
when price start making higher high and higher low, does a break of structure, then buy on a lower high, when price is retesting a sell candle.
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In the above picture, it looks like i am missing a potential trade and fear of missing out a trade (FOMO) will excite me to enter but see what actually happens
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"Exchange of hands"
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