Market Structure: Le Métier

AUDCHF4

Day charts are down, H4 is down, no SR in the way. The higher probability at this moment is down in my view.

Good strategy. Market structure is always the way to go. I trade almost the same way but on 1H, 15m and 5m(occasionally).
I'm sure you've done extensive tests on various aspects of your final system but i was wondering if you've tested any earlier entry methods that could allow you squeeze out a little more than 1;1R with the same targets.

I use H1 also Koop, but M15 I get too many false signals and have decided to give it up.

This is one entry method I use to get more than 1:1. I also drop down to H1 for a better entry otherwise I just enter at SR on H4 with SL behind H4 pivot as shown in the image below.

Targets can also be extended if there is no SR in the way. However I prefer to spend as little time in the market as possible.

Do you have a better entry technique you want to share?

USDCHF4

Day charts are down, H4 is down, no SR in the way. Need a "strong" close below support before considering a short.

bought GBPCAD, short AUDCHF

correction GBPAUD

Oh totally makes sense.
Currently testing out dropping down to lower TFs to look for earlier entry signals, but it could be very unreliable and too early.
I enter pretty late in the middle of the retracement after price begins to continue the trend or sometimes even close to the previous swing high (in a long scenario). Safer of course, but I'll keep trying things out.

All the best with your 5ers journey Man.

thanks you also

short

NZDCHF has been stopped by NZD news.

My H4 ambitions are driven by a desire to simplify analysis and reduce screen time.
Turns out my H4 trades spend more time in the market than my lower timeframes trades and so they inevitably run into news, which can spoil the set-up.
In future I will have to manage that. And very importantly I will now reintroduce H1 MS when analysing H4 set-ups.
If H1 is going against the trade I will not take the position. Or if it goes against me once in a position it will be an exit signal.

Employing this keeps me out of the NZDCHF trade.

GBPAUD and AUDCAD have also been influenced by the NZD news release and as I write arent looking good.
But as stated in the above post, employing H1 analysis and I have exit signals at break even GBPAUD and 0.1% loss AUDCAD.

even though it's more screen time, I am now motivated to employ H1 in my analysis going forth.

I have bought CHFJPY at H4 set-up; D1 and H1 confirm the buy. If H1 turns on the trade it will be an exit signal.

Short USDCHF at H4 set-up; D1 and H1 confirm the short. If H1 turns on the trade it will be an exit signal.

Short GBPCHF at H4 set-up; D1 and H1 confirm the short. If H1 turns on the trade it will be an exit signal.

GBPCHF has been stopped. The trend is not my friend!

D1, H4 and H1 were in synch and heading down at entry. But H1 has turned and headed back up taking my stop with it.

Short CADCHF at H1 set-up; H4 and M15 confirm the short.
This is a set-up from my core strategy, I'll be disappointed if this is stopped.

Update:

This week I thought it a good idea to source H4 set ups in an effort to reduce screen time and trade management. It didn’t go to plan.

Firstly, my H4 set ups are in the market longer than my lower time frame set ups, so they are subject to 3 compromising events: Monday morning gaps, news releases and rollover spre*ds. These events can compromise my trades and so need to be managed.

Secondly, confirming H4 set ups with D1 alone didn’t provide the best analysis. My core strategy sources H1 set ups and confirms the direction with H4 and M15. This means the pivot highs and lows of each timeframe must be trending in the same direction at entry. An example is CADCHF in my post above, H1 is the set-up, H4 and M15 confirm the set up. The chart below shows the pivots of each timeframe headed in the same direction at entry.

In future H4 set ups will be confirmed with H1 and M15 before entry. Interestingly, of the 7 trades posted this week the only ones that have shown any promise are CADCHF and CHFJPY; both are confirmed by H4 and M15. That said rollover is here so let’s see what the spre*ds and price action does to those trades. If the week to date is an indicator…..

Score card:

H4 set ups confirmed with D1 only -- GA, Aca, NCh, GCh each stopped, and UCh break even.
H4 set ups confirmed with H1 and M15 -- ChJ still open and heading in the anticipated direction.
H1 set ups confirmed with H4 and M15 -- CaCh still open and heading in the anticipated direction.