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1M Price Action System

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  • #301
  • Jan 5, 2021 10:56am Jan 5, 2021 10:56am
Quoting stevepatt
GBP/USD M3/M15 Long Trade 2 This Trade has Triggered {image}
GBP/USD M3 Long Trade 2 Result

(-5.7 Pips) x2 (-11.4 Pips) Total

Net Result for the day 04/01 2021 +2.2 Pips
Attached Image (click to enlarge)
Click to Enlarge Name: 5th Jan 21 GBPUSD M3 Long Trades result.png Size: 138 KB
  • #302
  • Jan 5, 2021 11:16am Jan 5, 2021 11:16am
entry with minimal of 2 pip draw down

Attached Image (click to enlarge)
Click to Enlarge Name: b17aecbd4131e372845bb5387308e03b.png Size: 106 KB


Price should make a HH

Attached Image (click to enlarge)
Click to Enlarge Name: d87a7d9824740954871da68b5bd8dbd5.png Size: 111 KB
"Exchange of hands"
  • #303
  • Jan 5, 2021 11:17am Jan 5, 2021 11:17am
Quoting stevepatt
{quote} GBP/USD M3 Long Trade 2 Result (-5.7 Pips) x2 (-11.4 Pips) Total Net Result for the day 04/01 2021 +2.2 Pips {image}
Hi Steve

I notice you have moved to bar charts, i never used them. how you find trading on bar charts.
"Exchange of hands"
  • #304
  • Jan 5, 2021 12:11pm Jan 5, 2021 12:11pm
Quoting bilal1947
{quote} Hi Steve I notice you have moved to bar charts, i never used them. how you find trading on bar charts.
Hi Bilal,

I find them just fine usually con't even bother with colour.

Colour can cloud your judgement

I prefer to put Colour into the Levels I find Interesting.
Attached Image (click to enlarge)
Click to Enlarge Name: 5th Jan 21 GBPUSD M3M15 Observations.png Size: 112 KB
  • #305
  • Jan 5, 2021 12:13pm Jan 5, 2021 12:13pm
@ bilal1947,

everything seems to be coming together... only thing im struggling with at the moment... once we have break BOS and we trade back to OB and take an entry, what is a good way of spotting short term profit targets. Ive been closing out at previous swing.
  • #306
  • Jan 5, 2021 12:34pm Jan 5, 2021 12:34pm
Quoting stevepatt
{quote} Hi Bilal, I find them just fine usually con't even bother with colour. Colour can cloud your judgement I prefer to put Colour into the Levels I find Interesting. {image}
GBP/USD M3/15 Short Trade
Attached Image (click to enlarge)
Click to Enlarge Name: 5th Jan 21 GBPUSD M3M15 Short Trade.png Size: 129 KB
  • #307
  • Jan 5, 2021 1:01pm Jan 5, 2021 1:01pm
Quoting stevepatt
{quote} GBP/USD M3/15 Short Trade {image}
GBP/USD M3/M15 Short Trade Result

+10 Pips and +2.1 Pips

Trading at this time isn't ideal Market is slowing

Much better to be Trading around Frankfurt / London / New York Open
Attached Image (click to enlarge)
Click to Enlarge Name: 5th Jan 21 GBPUSD M3M15 Short Trade Result.png Size: 106 KB
  • #308
  • Jan 5, 2021 1:59pm Jan 5, 2021 1:59pm
GBP/USD M3/M15 Short Trade 2
Attached Image (click to enlarge)
Click to Enlarge Name: 5th Jan 21 GBPUSD M3M15 Short Trade 2.png Size: 136 KB
  • #309
  • Jan 5, 2021 2:21pm Jan 5, 2021 2:21pm
[quote=stevepatt;13344083]GBP/USD M3/M15 Short Trade 2 {image}[/quote

Exited at 1.36311 for

(4.1 Pips) x2 (8.2 Pips)

Net Total +3.9 Pips
  • #310
  • Jan 5, 2021 2:28pm Jan 5, 2021 2:28pm
[quote=stevepatt;13344106]
Quoting stevepatt
GBP/USD M3/M15 Short Trade 2 {image}[/quote Exited at 1.36311 for (4.1 Pips) x2 (8.2 Pips) Net Total +3.9 Pips
GBP/USD M15 Observations
Attached Image (click to enlarge)
Click to Enlarge Name: 5th Jan 21 GBPUSD M15 Observations.png Size: 104 KB
  • #311
  • Jan 5, 2021 3:04pm Jan 5, 2021 3:04pm
[quote=stevepatt;13344113]
Quoting stevepatt
{quote} GBP/USD M15 Observations {image}
I see often a lot of lines on your charts.
Are you drawing all manually or there are indicators involved.
BTW, your charts are nicely detailed.
I like also the platform you are using. Which one is it?
  • #312
  • Jan 5, 2021 3:09pm Jan 5, 2021 3:09pm
[quote=Merka;13344138]
Quoting stevepatt
{quote} I see often a lot of lines on your charts. Are you drawing all manually or there are indicators involved. BTW, your charts are nicely detailed. I like also the platform you are using. Which one is it?
Hi Merka,

I use IG Index and all the lines are drawn manually
  • #313
  • Jan 5, 2021 3:32pm Jan 5, 2021 3:32pm
[quote=stevepatt;13344144]
Quoting Merka
{quote} Hi Merka, I use IG Index and all the lines are drawn manually
Thanks
obviously you have your personal approach that appear to be consistente over the years.
Cheers
  • #314
  • Edited Jan 6, 2021 12:30am Jan 5, 2021 6:30pm | Edited Jan 6, 2021 12:30am
Quoting nihilist23uk
@ bilal1947, everything seems to be coming together... only thing im struggling with at the moment... once we have break BOS and we trade back to OB and take an entry, what is a good way of spotting short term profit targets. Ive been closing out at previous swing.
I am glad to know that this thread helps someone out there to see things differently

For now focus should be on protecting and increasing equity by taking off half or 70% trade after 10-15 pips and let the balance be runner at Breakeven.

You may also align it with HTF, if we enter at a LH of (H1 pull back) target can be next HH,

Master execution of entries in LTF and protection of equity, growing equity by taking partial will helps in longer run.
"Exchange of hands"
  • #315
  • Jan 5, 2021 6:34pm Jan 5, 2021 6:34pm
Quoting bilal1947
{quote} I am glad to know that this thread helps out to see things differently For now focus should be on protecting and increasing equity by taking off half or 70% trade after 10-15 pips and let the balance be runner at Breakeven. You may also align it with HTF, if we enter at a LH of (H1 pull back) target can be next HH, Master execution of entries in LTF and protection of equity, growing equity by taking partial will helps in longer run.
Thank you very much for the reply, I will take a closer look at this tomorrow
  • #316
  • Jan 6, 2021 2:42am Jan 6, 2021 2:42am
Price may need to eat some SLs as its fuel/food to break this level, closed already major lot.

Attached Image (click to enlarge)
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"Exchange of hands"
  • #317
  • Edited 3:44am Jan 7, 2021 3:00am | Edited 3:44am
EURJPY, Short with 21 lots after divergence, BOS and retest of OB. Two ascending wedges as confluence/confirmation. Will tighten my SL or move to BE if there are strong rejections of trendlines.

Addition: Will be very cautious to tighten my SL close or close the trade at RN 127.000.

Quoting Olarion1975
EURJPY, Short with 21 lots after divergence, BOS and retest of OB. Two ascending wedges as confluence/confirmation. Will tighten my SL or move to BE if there are strong rejections of trendlines. Addition: Will be very cautious to tighten my SL close or close the trade at RN 127.000. {image}
UPDATE: Stopped out for 1k profit, re-entered short with 18 lots after touch auf 200ema.

UPDATE 2: Finally price broke through trendline of asceding wedge, added another 2 lots, might close at RN 127.000

UPDATE 3: Closed all just before RN 127.000 for 1,8k profit. Enough for today
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy.PNG Size: 82 KB
  • #318
  • Edited 6:03am Jan 7, 2021 5:35am | Edited 6:03am
Quoting Olarion1975
EURJPY, Short with 21 lots after divergence, BOS and retest of OB. Two ascending wedges as confluence/confirmation. Will tighten my SL or move to BE if there are strong rejections of trendlines. Addition: Will be very cautious to tighten my SL close or close the trade at RN 127.000. {quote} UPDATE: Stopped out for 1k profit, re-entered short with 18 lots after touch auf 200ema. UPDATE 2: Finally price broke through trendline of asceding wedge, added another 2 lots, might close at RN 127.000 UPDATE 3: Closed all just before RN 127.000 for 1,8k profit....
Great start 2021
but it isnt wise to go all in. play it safe mate.
"Exchange of hands"
  • #319
  • Jan 7, 2021 7:18am Jan 7, 2021 7:18am
Quoting bilal1947
Booked 10pips and close 0.45 Update: balance lot hit SL {image}
why did u buy here? price did not tested sell candles after breakout of structure?
  • #320
  • Jan 7, 2021 7:44am Jan 7, 2021 7:44am
is this a good set up if price reaches back to my two limit orderS?
Attached Image (click to enlarge)
Click to Enlarge Name: 78cd7b89a1b8b5b9a2a093d9058cc2de.png Size: 70 KB
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