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1M Price Action System

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  • #261
  • Jan 2, 2021 9:54pm Jan 2, 2021 9:54pm
Quoting D1n3r0
{quote} Experience comes from trading divergence. Those were the two oscillators that worked for “me.” OP shows examples of how we can make pips by the retest of the order block. In order to grow and get better one must be able to identify when someone else’s methods are better. There are great examples of divergence from multiple post it would be cool if you could constructively add to the conversation and add some of your divergence charts as well. 2021 let’s all make money together
I see that my question could seem a little curt! In setting up my charts to follow along, I merely wanted to confirm that you had now chosen the RSI in preference to what you had previously relied on for divergence. There was no negativity intended, apologies if I offended anyone.
Good Trading
  • #262
  • Jan 3, 2021 2:44am Jan 3, 2021 2:44am
Quoting bilal1947
{quote} Thanks Steve for your kind response. Whenever price makes a HH it breaks previous Highs and didnt break or respect last LH by making a new LH we can say market is bullish and expect it to break recent HH again. If it didn't break the recent HH but breaks the last LL we can say there is a change in market structure and it becomes bearish. In this scenario i expect a new LH to be at 1.2 price to retrace. Why BOS there, pls see the screenshot red lines and market making HHs. It is totally okay to be wrong, we dont love the market if it goes...
Hi Bilal,

There are many ways to interpret Market Structure depending on how you look at the Market.

On the Monthly TF the Shorter Term Swing Points would be all you would need to decide your Trade Direction

To be honest I don't look at the Monthly TF, I Trade mainly on M3 so usually the Highest TF I look at is the Daily.

The interesting thing is every (most) time Price makes a New High (Low) Price will return to Test the Break Level

There is no right or wrong way to look at the Market it's important to do what makes sense to YOU as an individual.
Attached Image (click to enlarge)
Click to Enlarge Name: 3rd Jan 21 EURUSD MN Observations.png Size: 115 KB
  • #263
  • Jan 3, 2021 6:06am Jan 3, 2021 6:06am
This is how I Trade in the real world

Charts below are GBP/USD M3 28th Dec, 2020
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 3rd Jan 21 GBPUSD M3 Observations.png Size: 96 KB
Click to Enlarge Name: 3rd Jan 21 GBPUSD M3 Observations 2.png Size: 93 KB
Click to Enlarge Name: 3rd Jan21 GBPUSD M3 Observations 3.png Size: 129 KB
Click to Enlarge Name: 3rd Jan 21 GBPUSD M3 Observations 4.png Size: 104 KB
  • #264
  • Jan 3, 2021 6:12am Jan 3, 2021 6:12am
Quoting stevepatt
{quote} Hi Bilal, There are many ways to interpret Market Structure depending on how you look at the Market. On the Monthly TF the Shorter Term Swing Points would be all you would need to decide your Trade Direction To be honest I don't look at the Monthly TF, I Trade mainly on M3 so usually the Highest TF I look at is the Daily. The interesting thing is every (most) time Price makes a New High (Low) Price will return to Test the Break Level There is no right or wrong way to look at the Market it's important to do what makes sense to YOU as an individual....
Hi Steve

Thank you for sharing your thoughts and TF you usually observe, true that, how one see the price and structure it can be okay and cannot be okay only price can decide that and we should be flexible with that accordingly.

The second point that price retracement to break level is an amazing thing, and some time it retrace back to the pin bars 100%-99% to 89% fib levels too, here i am not sure and Fear of missing out trade gives good draw down at time and my bad i am not able to see draw down but to book losses since bad risk management, which by experience i will learn
"Exchange of hands"
  • #265
  • Jan 3, 2021 6:44am Jan 3, 2021 6:44am
Quoting stevepatt
This is how I Trade in the real world Charts below are GBP/USD M3 28th Dec, 2020 {image} {image} {image} {image}
GBP/USD M3 28th Dec 2020
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 3rd Jan 21 GBPUSD M3 Observations 5.png Size: 129 KB
Click to Enlarge Name: 3rd Jan 21 GBPUSD M3 Observations 6.png Size: 102 KB
Click to Enlarge Name: 3rd Jan 21 GBPUSD M3 Observations 7.png Size: 133 KB
Click to Enlarge Name: 3rd Jan 21 GBPUSD M3 Observations 8.png Size: 114 KB
Click to Enlarge Name: 3rd Jan 21 GBPUSD M3 Observations 9.png Size: 101 KB
  • #266
  • Jan 3, 2021 6:56am Jan 3, 2021 6:56am
Quoting stevepatt
{quote} GBP/USD M3 28th Dec 2020 {image} {image} {image} {image} {image}
Hi Steve

Is there specific reason for a 3 minute chart for trading, and do you trade specific times/session?
"Exchange of hands"
  • #267
  • Jan 3, 2021 7:00am Jan 3, 2021 7:00am
Quoting stevepatt
{quote} GBP/USD M3 28th Dec 2020 {image} {image} {image} {image} {image}
Hi and thanks for your charts.
Do you have an example where price broke and closed above below your structure but after you entered it immediately reversed on you causing a loss on both your pending orders?
Your example above worked great but I guess it's not always positive news.
  • #268
  • Jan 3, 2021 10:07am Jan 3, 2021 10:07am
Quoting aud
{quote} I see that my question could seem a little curt! In setting up my charts to follow along, I merely wanted to confirm that you had now chosen the RSI in preference to what you had previously relied on for divergence. There was no negativity intended, apologies if I offended anyone.
No worries bro I took it out of context. RSI is now my preference but I’m more relying on price BOS and retest of OB now. I’ve been reading the PDF’s and read this holy grail of trading PDF out of the thread from redsworld and Bilal is right. Supply and demand zones and retest of OB are the only things that matter for us to get pips. Lightbulb for me has gone from dim to hps in just a week or so.
  • #269
  • Jan 3, 2021 10:10am Jan 3, 2021 10:10am
Everybody that is contributing and asking questions man thank you so much. This method is by far the best method of trading divergence and relies on the trader to pay attention to price and structure and not just an indicator because the indicator is indeed lagging. I encourage all new and struggling traders to give it a try. Once you read through the thread and get to marking your chart up with trend lines you will indeed get that light
  • #270
  • Jan 3, 2021 10:33am Jan 3, 2021 10:33am
Quoting bilal1947
{quote} Hi Steve Is there specific reason for a 3 minute chart for trading, and do you trade specific times/session?
Hi Bilal,

I use M3 Charts because I find M1 too fast and M5 too Slow

M3 is my personal Sweet Spot
  • #271
  • Edited 11:03am Jan 3, 2021 10:48am | Edited 11:03am
Quoting Merka
{quote} Hi and thanks for your charts. Do you have an example where price broke and closed above below your structure but after you entered it immediately reversed on you causing a loss on both your pending orders? Your example above worked great but I guess it's not always positive news.
Hi Merka,

You are of course correct Price doesn't always behave in such a cooperative way.

The Chart below shows 3 Trades I actually took on 30th Dec GBP/USD M3

I use ThinkTraders "Traders Gym" to run a simulation it's a very useful tool and completely Free when you download their Demo Account

It takes a lot of Screen Time to be able to Read Price Live there's no way around it Time and Practice is what it takes

I've been doing this for 10 years, christ really, that's a lot of Screen Time

But I enjoy doing it, it's important for people to want to Learn how to Trade and not how to make money

Once you learn how to trade the Money Follows

This post isn't aimed at you directly, I don't even know you

It's just a general comment

I'm back to work tomorrow so won't be able to Trade through the day only early 7am GMT for about 45 minutes and after 4pm GMT so I'll see how it goes

I hope the Chart below makes sense if not get back to me

EDIT: Just realised I Posted this before the event in my Journal Post 1,046
Attached Image (click to enlarge)
Click to Enlarge Name: 3rd Jan 21 GBPUSD M3 Observations 10.png Size: 206 KB
  • #272
  • Jan 3, 2021 12:27pm Jan 3, 2021 12:27pm
Quoting stevepatt
{quote} Hi Merka, You are of course correct Price doesn't always behave in such a cooperative way. The Chart below shows 3 Trades I actually took on 30th Dec GBP/USD M3 I use ThinkTraders "Traders Gym" to run a simulation it's a very useful tool and completely Free when you download their Demo Account It takes a lot of Screen Time to be able to Read Price Live there's no way around it Time and Practice is what it takes I've been doing this for 10 years, christ really, that's a lot of Screen Time But I enjoy doing it, it's important for people to...
wow, that’s amazing I didn’t knew their is a free simulation available, thanks for sharing Steve.

Have a great week, stay blessed!
"Exchange of hands"
  • #273
  • Jan 4, 2021 12:54am Jan 4, 2021 12:54am
GBP/USD D1/M3 Observations

I've just taken what I have learned from various sources The Real Deal / ICT / Chris Lori ect ect and applied that information in a way that makes sense to me

That's what everyone of us needs to do Learn and Adapt
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 4th Jan 21 GBPUSD D1 Observations.png Size: 98 KB
Click to Enlarge Name: 4th Jan 21 GBPUSD M3 Observations.png Size: 95 KB
  • #274
  • Jan 4, 2021 1:10am Jan 4, 2021 1:10am
Quoting stevepatt
GBP/USD D1/M3 Observations I've just taken what I have learned from various sources The Real Deal / ICT / Chris Lori ect ect and applied that information in a way that makes sense to me That's what everyone of us needs to do Learn and Adapt {image} {image}
GBP/USD M3 Pending Long Trade

This Long Trade has Triggered
Attached Image (click to enlarge)
Click to Enlarge Name: 4th Jan 21 GBPUSD M3 Long Trade.png Size: 112 KB
  • #275
  • Jan 4, 2021 1:18am Jan 4, 2021 1:18am
Quoting stevepatt
{quote} GBP/USD M3 Pending Long Trade This Long Trade has Triggered {image}
GBP/USD M3 Long Trade

Stop at BE+
Attached Image (click to enlarge)
Click to Enlarge Name: 4th Jan 21 GBPUSD M3 Observations 2.png Size: 108 KB
  • #276
  • Jan 4, 2021 1:24am Jan 4, 2021 1:24am
Quoting stevepatt
{quote} GBP/USD M3 Pending Long Trade This Long Trade has Triggered {image}
GBP/USD M3 Long Trade Result

+10 and +3.6 Pips
Attached Image (click to enlarge)
Click to Enlarge Name: 4th Jan 21 GBPUSD M3 Long Trade Result.png Size: 105 KB
  • #277
  • Jan 4, 2021 1:37am Jan 4, 2021 1:37am
Quoting stevepatt
{quote} GBP/USD M3 Long Trade Result +10 and +3.6 Pips {image}
GBP/USD M3 Observations

I had this Bearish Bar Highlighted see how Price Reacts at this Level
Attached Image (click to enlarge)
Click to Enlarge Name: 4th Jan 21 M3 Observations 3.png Size: 108 KB
  • #278
  • Jan 4, 2021 1:51am Jan 4, 2021 1:51am
Quoting stevepatt
{quote} GBP/USD M3 Observations I had this Bearish Bar Highlighted see how Price Reacts at this Level {image}
Wait for London Open to see what their intentions are
  • #279
  • Jan 4, 2021 10:23am Jan 4, 2021 10:23am
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2021-01-04 at 20.18.54.png Size: 385 KB
"Exchange of hands"
  • #280
  • Jan 4, 2021 10:24am Jan 4, 2021 10:24am
Quoting stevepatt
GBP/USD D1/M3 Observations I've just taken what I have learned from various sources The Real Deal / ICT / Chris Lori ect ect and applied that information in a way that makes sense to me That's what everyone of us needs to do Learn and Adapt {image} {image}
I have yet to see Chris Lori course
"Exchange of hands"
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