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1M Price Action System

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  • #381
  • Jan 12, 2021 9:51am Jan 12, 2021 9:51am
Quoting 7Billions
+16 pips. No DD. {image}
Wow Nice!!! Looks just like Bilal1947 charts!! Please post more charts as you trade.
  • #382
  • Jan 12, 2021 10:03am Jan 12, 2021 10:03am
Late post had to go make a run. So indigo box is the 4hr wick zone, White box is the OB for the 5min chart. Once price retested I just took the trade even though I hate trading against a 1hr bar. Once I was up I went ahead and set my stop to break even plus some because I didn’t like how things were looking. I almost got stopped out and by that time I had my hand on my head thinking why didn’t I just wait but I was prepared to stop out and re enter. Now what we have here is the same ole thing. Regular divergence At the low of today after we took out yesterday’s low. I decided to put some other things into perspective. The 4hr high and close. Wick zone was created off of the previous 4hr bar. New 4hr opened and didn’t break below previous low and took out the previous 4hr high. Think I’m really Starting to see things for what it is. Have we been making new lows? Yes, wait for the 1hr bar or 4hr bar to close and see if the next candle takes out previous candles low. If not look to enter to previous candles high. It’s really just following price.
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  • #383
  • Edited 1:38pm Jan 12, 2021 12:25pm | Edited 1:38pm
At yesterday’s low unable to break m15 meaning respecting it, looking at now perfect entry.

observe an engulfed bar with reasonable volume upon ob retest was my entry which allows to me do breakeven.

taken partials too

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Update:

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"Exchange of hands"
  • #384
  • Jan 12, 2021 12:51pm Jan 12, 2021 12:51pm
Three rules for myself

- book loses using sl and safeguards equity
- must do breakeven after 10pips
- must take partial to grow the equity.

let it hit breakeven doesn’t matter, keep booking profit taking out commissions. Rinse and repeat and grow.

+ Always have a second stream of income job, business, services.
"Exchange of hands"
  • #385
  • Jan 12, 2021 4:30pm Jan 12, 2021 4:30pm
Quoting bilal1947
At yesterday’s low unable to break m15 meaning respecting it, looking at now perfect entry. observe an engulfed bar with reasonable volume upon ob retest was my entry which allows to me do breakeven. taken partials too {image} Update: {image}
That is a fantastic trade!!
  • #386
  • Edited 10:59am Jan 13, 2021 9:18am | Edited 10:59am
I expect it to be bullish till then i am short, BE + partials done. closed after 10 pips

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"Exchange of hands"
  • #387
  • Jan 13, 2021 10:00am Jan 13, 2021 10:00am
is there a way to get get mt4 to take profit at t/p level but close only half the trade without using an ea ?
apart from doing in manually.. had a shooter on me today and by time i got it closed id misssed half my profit
  • #388
  • Jan 13, 2021 10:03am Jan 13, 2021 10:03am
Quoting nihilist23uk
is there a way to get get mt4 to take profit at t/p level but close only half the trade without using an ea ? apart from doing in manually.. had a shooter on me today and by time i got it closed id misssed half my profit
no idea since i am scalper and instantly off my partials trades but you can check in below thread:
https://www.forexfactory.com/thread/...indicators-for
"Exchange of hands"
  • #389
  • Jan 13, 2021 10:16am Jan 13, 2021 10:16am
Quoting bilal1947
{quote} no idea since i am scalper and instantly off my partials trades but you can check in below thread: https://www.forexfactory.com/thread/...indicators-for
Thanks, so you just close out half manually ?
  • #390
  • Jan 13, 2021 10:57am Jan 13, 2021 10:57am
Quoting nihilist23uk
{quote} Thanks, so you just close out half manually ?
yes
"Exchange of hands"
  • #391
  • Edited 11:29am Jan 13, 2021 10:58am | Edited 11:29am
Gives me a chance to BE and just missed my entry let see if it gives some thing - Hit BE
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"Exchange of hands"
  • #392
  • Jan 13, 2021 11:52pm Jan 13, 2021 11:52pm
Quoting bilal1947
Three rules for myself - book loses using sl and safeguards equity - must do breakeven after 10pips - must take partial to grow the equity. let it hit breakeven doesn’t matter, keep booking profit taking out commissions. Rinse and repeat and grow. + Always have a second stream of income job, business, services.
Can you demonstrate these rules using charts?
Do you open several positions on a trade and close some after hitting 10pips and allow others to run?
Try and explain further.
You are the change that we need in the world
  • #393
  • Jan 14, 2021 3:48am Jan 14, 2021 3:48am
+12 done for the day.
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  • #394
  • Jan 14, 2021 3:50am Jan 14, 2021 3:50am
Quoting greenard
{quote} Can you demonstrate these rules using charts? Do you open several positions on a trade and close some after hitting 10pips and allow others to run? Try and explain further.
One trade at a time.
Say for example your sl is 10 pips, if it hit sl trade closed.
If it move 10 pips in profit, move sl to entry doing breakeven.
And take partials close 80% of lot and let see what the rest do
"Exchange of hands"
  • #395
  • Edited 9:57am Jan 14, 2021 8:09am | Edited 9:57am
BE done, and close 50% after 10pips - BE hit

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after i came from office, i pick one pair and try to enter as per my bias, entry points are very important, i entered 4-5 times and twice it hit sl 3-3 pips and rest of the time it give me chance to take off some for commission and hit BE, but once your safely in it will be benefical overall. there is no harm in booking losses since lot size is more rather on the wrong side.

suppose if entered with lot 1, close 0.30 to cover commission after few pips, and do BE ... once give some profit close another 0.20, then again 0.20 and so on as taking profit is the most important part.

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"Exchange of hands"
  • #396
  • Jan 14, 2021 8:45am Jan 14, 2021 8:45am
Good example: Divergence spotted, BOS@previous 4hr low, retest of OB, new 1hr bar opens and fails to break below previous lows candle. Too many confirmations to make a 10 pip trade.
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  • #397
  • Jan 14, 2021 9:19am Jan 14, 2021 9:19am
Quoting D1n3r0
Good example: Divergence spotted, BOS@previous 4hr low, retest of OB, new 1hr bar opens and fails to break below previous lows candle. Too many confirmations to make a 10 pip trade. {image}
Note one thing that OB can also be seen in 1H, 4H if respecting, just open a blank chart and observe why price reverse there must be ob there.

1M price action experince:

1 mint
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"Exchange of hands"
  • #398
  • Jan 15, 2021 12:45am Jan 15, 2021 12:45am
its valid ?
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Sanaullah
  • #399
  • Jan 15, 2021 2:54am Jan 15, 2021 2:54am
Quoting sanaullah79
its valid ? {image}
A recent BOS is on the down side, price may be coming back to make a LH and fall
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"Exchange of hands"
  • #400
  • Jan 16, 2021 5:08am Jan 16, 2021 5:08am
Unreal game changer for me divergence is what i use but this is making such a difference great thread
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