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1M Price Action System

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  • #1,241
  • Mar 30, 2021 9:49am Mar 30, 2021 9:49am
Quoting stevepatt
GBP/USD H1 M15 M1 Long Trade {image}
GBP/USD H1 M15 M1 Long Trade Result

+10 Pips +2%
Attached Image (click to enlarge)
Click to Enlarge Name: 30th Mar 21 GBPUSD H1 M15 M1 Long Trade Resiult.png Size: 157 KB
  • #1,242
  • Mar 30, 2021 9:51am Mar 30, 2021 9:51am
Quoting stevepatt
{quote} GBP/USD H1 M15 M1 Long Trade Result +10 Pips +2% {image}
looks like I need to start paying attention to pound.

One qs though Steve: How many trades you take daily on an average? or rather, how many opportunities market present to you in a day for GU.
  • #1,243
  • Mar 30, 2021 9:53am Mar 30, 2021 9:53am
Quoting whiteluggage
thank you bilai for sharing your method. I am a fan of your method and have just started trying it out on demo account. Can i know if i did anything wrong here for EURUSD 1hr? is my BOS correct? I got stopped out. Is this part and parcel of forex where the trade just didnt work out? {image}
I think your entry should have been prior to that (see attachments) for a 30 pips scalp. Also try to understand consolidations (reversal ones and continuations - or accumulation, re-accumulation, distribution and re-distribution). If you are going to trade against the trend (trading a retracement) you can expect the trade to be short as you expect a continuation.

Edited: Decide on the trader you want to assume - scalper, day-trader, swing, short-term, etc.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd1 (edited).png Size: 36 KB
Click to Enlarge Name: eurusd-m1 (2021-03-30).png Size: 69 KB
  • #1,244
  • Mar 30, 2021 9:58am Mar 30, 2021 9:58am
Quoting brrand
{quote} looks like I need to start paying attention to pound. One qs though Steve: How many trades you take daily on an average? or rather, how many opportunities market present to you in a day for GU.
There are plenty of opportunities with the Cable. It can also attack your money. If you get it right you don't need to trade other pairs and you can stick with this one - it moves (very good for day-trading). Even more opportunities for scalping.
  • #1,245
  • Mar 30, 2021 10:04am Mar 30, 2021 10:04am
Quoting Pumi
{quote} There are plenty of opportunities with the Cable. It can also attack your money. If you get it right you don't need to trade other pairs and you can stick with this one - it moves (very good for day-trading). Even more opportunities for scalping.
Thanks Pumi. In the chart above, are those Wykoff markings?
  • #1,246
  • Mar 30, 2021 10:04am Mar 30, 2021 10:04am
random thoughts

- consider trading as 5 days, 4 week and 30 day of a month and only after 30 days one gets his salary,
- compare the % one gets if he deposit in bank or invest in a business and expect a similar return from forex not miracles, these will keep the greed in control.
- always look for a weekly, daily candle to trader the OBs of 4H, 1H in the same direction for higher R:R ratio.
- if you want to be in Forex, high risk to reward is the key of success as it will keep the equity growing
- always take profits after some and let the rest run or hit BE or close all if you fear it may reverse.
- BE can be done once a BOS is happened
"Exchange of hands"
  • #1,247
  • Mar 30, 2021 10:05am Mar 30, 2021 10:05am
Quoting Pumi
{quote} I think your entry should have been prior to that (see attachments) for a 30 pips scalp. Also try to understand consolidations (reversal ones and continuations - or accumulation, re-accumulation, distribution and re-distribution). If you are going to trade against the trend (trading a retracement) you can expect the trade to be short as you expect a continuation. Edited: Decide on the trader you want to assume - scalper, day-trader, swing, short-term, etc. {image} {image}
Thanks pumi. So I was in a continuation for downtrend. Dont get my expectations high for a large upthrust.
i cant enter prior because i was using H1 as entry. But i think there should be 25 pips from where my entry was and i didnt move to BE.
  • #1,248
  • Mar 30, 2021 10:08am Mar 30, 2021 10:08am
Quoting brrand
{quote} Thanks Pumi. In the chart above, are those Wykoff markings?
Yes, a mix of Wyckoff, bilal's method, ICT & George, and a little of Elliott Wave.
  • #1,249
  • Mar 30, 2021 10:15am Mar 30, 2021 10:15am
GBP/USD H1 M15 M1 Long Trade 2
Attached Image (click to enlarge)
Click to Enlarge Name: 30th Mar 21 GBPUSD h1 M15 M1 Long Trade 2.png Size: 146 KB
  • #1,250
  • Edited 11:31am Mar 30, 2021 11:19am | Edited 11:31am
Quoting stevepatt
GBP/USD H1 M15 M1 Long Trade 2 {image}

GBP/USD H1 M15 M1 Long Trade 2 Result

+10 Pips +2%

This was like pulling teeth.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 30th Mar 21 GBPUSD H1 M15 M1 Long Trade Result 2.png Size: 147 KB
Click to Enlarge Name: 30th Mar 21 GBPUSD H1 Observations.png Size: 110 KB
  • #1,251
  • Mar 30, 2021 11:38am Mar 30, 2021 11:38am
GBP/USD H1 M15 M1 Observations
Attached Image (click to enlarge)
Click to Enlarge Name: 30th Mar 21 GBPUSD H1 M15 M1 Observations.png Size: 157 KB
  • #1,252
  • Mar 30, 2021 11:45am Mar 30, 2021 11:45am
Quoting stevepatt
GBP/USD H1 M15 M1 Observations {image}
i guess it will do the correction and move up or can change a trend totally as gold has fallen badly too! and dollar took all the strength, now perhaps gold will go up and so does other currencies too for a bit.
Attached Image (click to enlarge)
Click to Enlarge Name: 5c1b2f4d8424315911157d7c968891cd.png Size: 106 KB
"Exchange of hands"
  • #1,253
  • Mar 30, 2021 12:07pm Mar 30, 2021 12:07pm
Quoting stevepatt
GBP/USD H1 M15 M1 Observations {image}
GBP/USD H1 M15 M1 Short Trade 2
Attached Image (click to enlarge)
Click to Enlarge Name: 30th Mar 21 GBPUSD H1 M15 M1 Short Trade 2.png Size: 101 KB
  • #1,254
  • Mar 30, 2021 2:59pm Mar 30, 2021 2:59pm
Today I’ve made more money than I’ve made trading. 95% of my trading has been with money I couldn’t afford to lose. Now that my crypto account is well over 5 figures taking larger trades on Forex isn’t giving me anxiety which means trading with scary money isn’t the way to go. Always have another source of income coming in and make trading painless. I’m learning this late but I’m able to pass along the info so those that need it will hopefully use it. +37 pips today just trading pure price action but I decided to piggy back off of stevepatt and have 3 charts up instead of my two. 5min, 1hr, and 4hr with daily bars in the background. I made my entries based on price action coming from the higher time frames 1hr especially because of where certain footprints had been left. I took the sell because previous bar did not make a new high nor did it get close so looking at price structure on the 5min gave me the impression the market was gonna tank and it tanked down to the OB sitting in the 62-79 fib zone. 5min structure I saw divergence and took the trade and it reversed all the way up from that zone. I did something similar yesterday and one thing I always keep in mind before I make a trade is where are the retail traders looking to go long and short.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 67A55E6A-DB4C-49C2-A370-7EAE4C129EC0.png Size: 54 KB
Click to Enlarge Name: 430B4126-BD46-408B-920A-66F4B8C8F70B.png Size: 37 KB
Click to Enlarge Name: 23FF6F82-8D1E-4D65-BD98-0237B4CA1725.png Size: 41 KB
  • #1,255
  • Mar 31, 2021 1:05am Mar 31, 2021 1:05am
Quoting stevepatt
{quote} GBP/USD H1 M15 M1 Short Trade 2 {image}

GBP/USD Short Trade 2 Result

Scratch

This Trade was late in the Trading Day

Sometimes Price continues to move sometimes it doesn't....
Attached Image (click to enlarge)
Click to Enlarge Name: Trading Results.png Size: 122 KB
  • #1,256
  • Mar 31, 2021 9:24am Mar 31, 2021 9:24am
Quoting stevepatt
{quote} GBP/USD Short Trade 2 Result Scratch This Trade was late in the Trading Day Sometimes Price continues to move sometimes it doesn't.... {image}
You are really impressive. So good work you are share. Wish you the best.
Perfection is the enemy of good enough!
  • #1,257
  • Mar 31, 2021 10:50am Mar 31, 2021 10:50am
GBP/USD H1 M15 M1 Long Trade

I work full time so I don't get to Trade the best setups earlier in the day
Attached Image (click to enlarge)
Click to Enlarge Name: 31st Mar 21 GBPUSD H1 M15 M1 Long Trade.png Size: 157 KB
  • #1,258
  • Mar 31, 2021 11:01am Mar 31, 2021 11:01am
Quoting stevepatt
GBP/USD H1 M15 M1 Long Trade I work full time so I don't get to Trade the best setups earlier in the day {image}

GBP/USD H1 M15 M1 Long Trade Result

+10 Pips +2%

Watching Price if/when it reaches the H1 Bearish Order Block
Attached Image (click to enlarge)
Click to Enlarge Name: 31st Mar 21 GBPUSD H1 M15 M1 Long Trade Result.png Size: 166 KB
  • #1,259
  • Mar 31, 2021 11:12am Mar 31, 2021 11:12am
Quoting MichaelSch
{quote} You are really impressive. So good work you are share. Wish you the best.

Cheers Michael best wishes to you too.
  • #1,260
  • Mar 31, 2021 11:17am Mar 31, 2021 11:17am
Quoting D1n3r0
Today I’ve made more money than I’ve made trading. 95% of my trading has been with money I couldn’t afford to lose. Now that my crypto account is well over 5 figures taking larger trades on Forex isn’t giving me anxiety which means trading with scary money isn’t the way to go. Always have another source of income coming in and make trading painless. I’m learning this late but I’m able to pass along the info so those that need it will hopefully use it. +37 pips today just trading pure price action but I decided to piggy back off of stevepatt and...
Great (y)
stay blessed mate !
"Exchange of hands"
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