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Market Structure Only- keep your charts clean

  • #61
  • Mar 19, 2021 9:31am Mar 19, 2021 9:31am
Quoting PaulMF
by the way, what market structure means in this thread?
market structure is the way a chart is formed. with higher highs, lower lows etc.

you wanted to buy a phone that costed 400$ but didnt have money at the time
now it costs 600$ and you find it expensive.
price will keep rising but you dont want to spend that much.
price comes back at 450, you say, ok i'll buy now (that is your entry)
but a few days later it goes lower than 400 (thyat is your stop loss)

you did get a good deal with the past data, you could get a better one with the current data. but u still preserved 200$

that is market structure.
offering my system to copy trade. check my link
  • #62
  • Mar 19, 2021 9:38am Mar 19, 2021 9:38am
Quoting nikosk0
{quote} market structure is the way a chart is formed. with higher highs, lower lows etc. you wanted to buy a phone that costed 400$ but didnt have money at the time now it costs 600$ and you find it expensive. price will keep rising but you dont want to spend that much. price comes back at 450, you say, ok i'll buy now (that is your entry) but a few days later it goes lower than 400 (thyat is your stop loss) you did get a good deal with the past data, you could get a better one with the current data. but u still preserved 200$ that is market structure....
thanks
Always ready to help
  • #63
  • Edited 10:02am Mar 19, 2021 9:46am | Edited 10:02am
overview for the week.
trade 1: win +1.5r
https://www.forexfactory.com/thread/...3#post13457693
trade 2: loss -1r
https://www.forexfactory.com/thread/...8#post13458098
trade 3: win +1.5r
https://www.forexfactory.com/thread/...3#post13456793

now trade 3 was a scalp so you couldnt really take it.

anyway these were simple trades i gave out before they happen and without confirmation or more advanced stuff like trade management, confirmation entries, better entries, tighter stops, highest rr etc.
i'll try to post more trades next week so you can start believing in the simplicity of the ssytem and once you master it, you can perfect it to your needs.

to master it you need practise, tradingview replay mode.

i'll make a recap later for trades that we could have got today so you can see that there are opportunities everyday if you are patient.
(to be honest it was a prety shity day for this kind of trades, i dont know if i will find more than 1-2 trades)
offering my system to copy trade. check my link
  • #64
  • Mar 19, 2021 9:55am Mar 19, 2021 9:55am
only 2 trades were valid today. the pictures if us30 represent the same trade. and to be honest i wouldnt take the usdchf trade, it does fit to the simplicity of the system but.... ehhhh its still choppy. anyway

everything else (on my watchlist) was really choppy.

if you have any trade that you think was worth it, feel free to post it and i can review it.

have a good weekend
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  • #65
  • Mar 19, 2021 9:59am Mar 19, 2021 9:59am
Market moves from balance to balance.

Attached Image
Perfection is the enemy of good enough!
  • #66
  • Mar 19, 2021 10:06am Mar 19, 2021 10:06am
Quoting MichaelSch
Market moves from balance to balance. {image}
i trade mean reversion as well. not the purpose of this thread though.

i try to keep it as simple as possible.

thanks!!

trade safe!
offering my system to copy trade. check my link
  • #67
  • Mar 20, 2021 4:16pm Mar 20, 2021 4:16pm
nikosk0, how do you set your entry point? This is the one unclear part for me. Is it visual or maybe Fibo level?
  • #68
  • Mar 20, 2021 4:42pm Mar 20, 2021 4:42pm
Quoting laksior
nikosk0, how do you set your entry point? This is the one unclear part for me. Is it visual or maybe Fibo level?
i am not willing to share my whole method of confirmation, stop orders etc (i dont use fibo or anything)

but

say a move from low to high was 40 pips and you want 1.5rr
to get 1.5rr before price surpaces the new high that means that you need an entry at about 10 pips higher form the previous low and aim for 25 pips.

i hope the image i made below can help you a bit

(you really need to practise on backtest A LOT till you get used to it. once you get the hang of it, its really simple)

another major thing is to be prepared. say you look a any currency pair, USDCAD 4HR, EU 15m, it doesnt matter what are you looking at. and you see that price has CLEARLY BROKEN a previous high, keep that chart open somewhere and be prepared for price to comeback near the previous swing low to find your entry.

while you see price coming back, that is when you calculate were your entry and tp should be. the confirmation, the management, the risk, the timeframe, and the execution time of the trade i leave it up to you
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  • #69
  • Mar 21, 2021 7:47am Mar 21, 2021 7:47am
examples on monthly timeframe
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  • #70
  • Mar 21, 2021 7:53am Mar 21, 2021 7:53am
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GBPUSD H1
  • #71
  • Mar 21, 2021 9:19am Mar 21, 2021 9:19am
Quoting mixedbags
{image} GBPUSD H1
acorind to the rules OF THIS system, buying is not an option. a new LL has formed so we only look for sell.
i find 1.3962 a good place for a sell!

nice work
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  • #72
  • Mar 21, 2021 10:28am Mar 21, 2021 10:28am
Very Nice and simple strategy Nik.

Very similar to how i trade, however, to take a little subjectivity or discretion out of figuring "how deep enough" a retracement/correction should be, i started using a moving average as my measurement.

Based on the below example, After the initial move creating the Lower Low, price must retrace to make a Lower high and close slightly above the MA on the 15min chart... that is my signal to look for an entry.
Minimum TP which i target is 1:3R and i usually manage to reach it at least 75%. Sometimes price reverses and i get stopped at B.E.

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In a quest to increase my R:R per trade, i'm testing out methods to scale into the trade once i have moved SL to B.E on the first trade.


Goodluck with the thread. There's a lot to be learnt from you.
  • #73
  • Mar 21, 2021 11:20am Mar 21, 2021 11:20am
Quoting nikosk0
this was a perfect clean trade, i wasnt looking though there are many setups throught the day, dont rush in to any, wait for it patience is key, the most important thing to win in forex {image}
Good thread, Nik. Subscribed. One of my favourite setups; a.k.a. "Quasimodo" or "Up and Under".
Timing Direction Strength
  • #74
  • Mar 21, 2021 11:22am Mar 21, 2021 11:22am
Quoting nikosk0
i made a quick search on the site and i did not find a similar thread so i will start this one.
Nothing's really new in forex.

https://www.forexfactory.com/thread/...-price-pattern
Timing Direction Strength
  • #75
  • Mar 21, 2021 12:03pm Mar 21, 2021 12:03pm
Quoting Koop
Very Nice and simple strategy Nik. Very similar to how i trade, however, to take a little subjectivity or discretion out of figuring "how deep enough" a retracement/correction should be, i started using a moving average as my measurement. Based on the below example, After the initial move creating the Lower Low, price must retrace to make a Lower high and close slightly above the MA on the 15min chart... that is my signal to look for an entry. Minimum TP which i target is 1:3R and i usually manage to reach it at least 75%. Sometimes price reverses...
hey man, thanks a lot. a movign average is fine but from a visual perspective it should be a long one. 200-500sma. i believe yours is long as well. anyone can have their own type of entry, be it a moving average, be it price action, be it an indicator like "haos visual averages" or an rsi

i didnt want to overcomplicate things with perfect entries because they are really subjective, and one should learn to use his own, like you do. i wanted to give out a really simple system that if followed can be profitable, and when one starts reseaching more about it, and testing thigs about it, can make it work like your or mine

i did too try to scale in n out of positions but in the end i lacked a few things to trade that method unless it was happening at the early stages of a trend reversal

so i focused on finding the holy grail. you may not trust me on this, but it does exist. (a 70% 2r is possible for a good and disciplined trader, i bow to you if you can get the numbers you say). but i found one that may crush this. can only be forward tested and i dont have a big enough sample yet



Quoting finessence
{quote} Nothing's really new in forex. https://www.forexfactory.com/thread/...-price-pattern
i didnt see that, never new it was called like this, most of the things i know i leanred them by trial n error watching and trading charts.

thanks a lot for your kind words!
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  • #76
  • Mar 21, 2021 12:38pm Mar 21, 2021 12:38pm
Great thread niko.

Ive been trying to create my own type of Price Action system using some of your ideas for awhile now. Hope this pic dont derail your thread and if it does I will remove it if you see the need.

Dave
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K.I.S.S.
  • #77
  • Mar 21, 2021 12:53pm Mar 21, 2021 12:53pm
Quoting nikosk0
{quote} i didnt see that, never new it was called like this, most of the things i know i leanred them by trial n error watching and trading charts. thanks a lot for your kind words!
You're very welcome and congrats on your impressive results.
Timing Direction Strength
  • #78
  • Edited 1:30pm Mar 21, 2021 1:03pm | Edited 1:30pm
Quoting fmsfx
Great thread niko. Ive been trying to create my own type of Price Action system using some of your ideas for awhile now. Hope this pic dont derail your thread and if it does I will remove it if you see the need. Dave {image}
hello, no it doesnt derail anything.

i see you have a clean chart, so i would suggest instead of using trend lines, use either supply n demand or break of structure to find your entry.
i'll show you in your chart both

i've also marked the correct stop loss cause you had 2 marked. you also need to give it a little room to breath, not just above the swing high. measure the wick and move your stop another wick up.

also in case price doesnt go to tp, i suggest going break even once price goes your way with a big volatile move and maybe even taking some profits (30% lets say)

really good job on your chart.

as i say to everyone, practice on replay mode in tradingview till you feel confident. you will see how the system (entries / stops / tp's) become clear with practise
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GU especially is a masterpiece for this kind of trades
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but i really wouldnt trade gu 1hr, it still not clean
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  • #79
  • Mar 21, 2021 3:54pm Mar 21, 2021 3:54pm
we might not get a pullback to sort gu, in any case in the chart below i share 3 ways to read the market without the use of indicators.

i put on a line chart instead of candles, might be easier for some.

i dont plan on taking a position now on GU anyway sort or long it is a sideways market and my bias is down.
if bias is down and the market is going sideways we need to look for sorts atop of the range

it might go down without us next week, but as long as we do not loose money, we must not force a trade

(all that about swing positions, intraday 5m and 30m can change anytime)

good luck
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  • #80
  • Mar 22, 2021 1:24am Mar 22, 2021 1:24am
It is subjective to mark all these ll hh without a clear rule every can reproduce it the same way. That way you will alot discuss what are the points you mean and other watch out for. Seems you must clear it in the first post.
Perfection is the enemy of good enough!
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