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"Price - Structure - Flow"

  • #1,201
  • May 26, 2021 1:43am May 26, 2021 1:43am
Quoting Nick.Vuong
{quote} Awesome, Steve, did you take the limit order?
Hi Nick;

Both Trades were Entered Manually

The first at 1.41500 Half Number when I saw Price "Skip"

The second at 1.41559 after I saw Structure and Flow Switch on M5 M1
  • #1,202
  • May 26, 2021 2:02am May 26, 2021 2:02am
Quoting stevepatt
{quote} Hi Nick; Both Trades were Entered Manually The first at 1.41500 Half Number when I saw Price "Skip" The second at 1.41559 after I saw Structure and Flow Switch on M5 M1
Hi Steve,
Thank you!
I have a problem when drawing Order Blocks, is that I recognize many OBs at the same time.
Would you advise how to pick the most important one amongst them? Thank you

Attached Image (click to enlarge)
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"The hard work in trading comes in the preparation"
  • #1,203
  • May 26, 2021 10:00am May 26, 2021 10:00am
Quoting stevepatt
{quote} Hi Bilal; I find his use of Fib. placement is very much down to interpretation Personally I prefer just to use the HTF Order Block and a "Switch in Structure" within M1, at least, to indicate the Order Block is valid Check the Lower Chart in this Post 1,173 I am in no way an expert in Michael's Method(S) of Trading I have taken what makes sense to me and introduced it to my Trading Watching some of his videos, over the weekend, did help with making sense of a lot...
Hi Steve

thats the best approach takes what is working and leave the rest as alot of thing we not understand exactly how others do it. i am also naive in using Fib. rest by the grace of God family and trading are find thought trading is very less from couple of months. Thank you

hope your family and work is well too, and trading i know you dont greed and manage risk, so it must be good too
"Exchange of hands"
  • #1,204
  • May 26, 2021 1:02pm May 26, 2021 1:02pm
Quoting Nick.Vuong
{quote} Hi Steve, Thank you! I have a problem when drawing Order Blocks, is that I recognize many OBs at the same time. Would you advise how to pick the most important one amongst them? Thank you {image}

Hi Nick;

Always look for Order Blocks on Higher Time Frames

Remember Price has to Break Structure before it is considered an Order Block

An Order Block is just that a Block of Orders

It is this Influx of Orders that causes Price to Break Structure

Price returns to an Order Block because some Orders don't get Filled the First Time

Depending on the amount of Orders within an Order Block Price can return many times before all the Orders are Consumed and Price can move on to another Zone of Orders.

We usually see this in Higher Time Frame Order Blocks
Attached Image (click to enlarge)
Click to Enlarge Name: 26th May 21 GBPUSD H1 Observations.png Size: 190 KB
  • #1,205
  • May 26, 2021 2:27pm May 26, 2021 2:27pm
Quoting stevepatt
{quote} GBP//USD M5 M1 Observations Posting the previous charts I missed the opportunity to Trade Short into Bullish Liquidity See the Switch in Structure and Flow {image}

GBP/USD M30 M5 Observations
Attached Image(s) (click to enlarge)
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  • #1,206
  • May 26, 2021 2:39pm May 26, 2021 2:39pm
Hi Steve

Nice thread, subscribed. I also trade cable intraday and unwittingly through trial and error over the last 6 months trade in a sort of similar way to you. I really think its the best way to trade to focus on a single pair and take a couple of strong setups with good RR every day. Once you understand how the pair moves it's not too difficult. Enjoy reading your annotations. Here's where I was at today. I caught the first short from 1.4172 on the stop run. Price ran either side of the asian range low/high. So after it cleared the high I was all out short for the day expecting the other side to breakout.

Then observed that little reversal pattern on the demand level around 1.4130s but didn't buy. Then took the short on the M pattern retrace leg for a nice drop.

Now I am long after seeing the small accumulation on an H4 demand level, but expecting further drops tomorrow after a nice retrace. Sorry my chart not as nice and clean as yours

Anyway keep up the good work look forward to reading your annotations
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  • #1,207
  • May 26, 2021 6:20pm May 26, 2021 6:20pm
Quoting stevepatt
{quote} Hi Nick; Always look for Order Blocks on Higher Time Frames Remember Price has to Break Structure before it is considered an Order Block An Order Block is just that a Block of Orders It is this Influx of Orders that causes Price to Break Structure Price returns to an Order Block because some Orders don't get Filled the First Time Depending on the amount of Orders within an Order Block Price can return many times before all the Orders are Consumed and Price can move on to another Zone of Orders. We usually see this in Higher Time Frame Order...
Hi Steve,

Thank you for your great explanation as always.
Look at your chart, I found another possible order block as I annotated.
Would you consider that one also an order block? or only the one where the structure is broken the first time?

Thank you very much!

Attached Image (click to enlarge)
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"The hard work in trading comes in the preparation"
  • #1,208
  • May 27, 2021 12:28am May 27, 2021 12:28am
Quoting Nick.Vuong
{quote} Hi Steve, Thank you for your great explanation as always. Look at your chart, I found another possible order block as I annotated. Would you consider that one also an order block? or only the one where the structure is broken the first time? Thank you very much! {image}

Hi Nick;

Yes, I missed that one.

There is a lot more subtlety to Order Blocks than meets the eye

Certain things get missed on first inspection

It is something that I am still learning

I would encourage anyone wanting to learn about Order Blocks to do this type of exercise

It's a lot easier in Hindsight but it will help with seeing in Real Time
Attached Image (click to enlarge)
Click to Enlarge Name: 27th May 21 GBPUSD H1 Observations.png Size: 181 KB
  • #1,209
  • May 27, 2021 12:36am May 27, 2021 12:36am
Quoting stevepatt
{quote} Hi Nick; Yes, I missed that one. There is a lot more subtlety to Order Blocks than meets the eye Certain things get missed on first inspection It is something that I am still learning I would encourage anyone wanting to learn about Order Blocks to do this type of exercise It's a lot easier in Hindsight but it will help with seeing in Real Time {image}
Hi Steve,

Thank you
"The hard work in trading comes in the preparation"
  • #1,210
  • May 27, 2021 1:02am May 27, 2021 1:02am
GBP/USD M30 M5 M1 Observations

Looks like Price is making a move...
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  • #1,211
  • May 27, 2021 1:17am May 27, 2021 1:17am
Quoting stevepatt
GBP/USD M30 M5 M1 Observations Looks like Price is making a move... {image}

GBP/USD M30 M5 M1 Short Trade
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  • #1,212
  • May 27, 2021 1:22am May 27, 2021 1:22am
Quoting stevepatt
{quote} GBP/USD M30 M5 M1 Short Trade {image}
Awesome, I got that too, I move SL to BE now.
"The hard work in trading comes in the preparation"
  • #1,213
  • May 27, 2021 1:32am May 27, 2021 1:32am
Quoting stevepatt
{quote} GBP/USD M30 M5 M1 Short Trade {image}
GBP/USD M30 M5 M1 Short Trade Result

Exit 1.41064 +10 Pips
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  • #1,214
  • May 27, 2021 1:35am May 27, 2021 1:35am
Quoting stevepatt
{quote} GBP/USD M30 M5 M1 Short Trade Result Exit 1.41064 +10 Pips {image}
Only need one trade a day with +10 pips, it's gonna bring you a lot of money!
"The hard work in trading comes in the preparation"
  • #1,215
  • May 27, 2021 1:38am May 27, 2021 1:38am
Quoting stevepatt
{quote} GBP/USD M30 M5 M1 Short Trade Result Exit 1.41064 +10 Pips {image}
GBP/USD M30 M5 M1 Observations
Attached Image (click to enlarge)
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  • #1,216
  • May 27, 2021 1:42am May 27, 2021 1:42am
Quoting Nick.Vuong
{quote} Only need one trade a day with +10 pips, it's gonna bring you a lot of money!

Hi Nick;

This is absolutely correct

A lot of people aren't interested in making a measly +10 Pips

I've got a spreadsheet somewhere that does the maths I will try and dig it out over the weekend
  • #1,217
  • May 27, 2021 1:56am May 27, 2021 1:56am
Quoting stevepatt
{quote} Hi Nick; This is absolutely correct A lot of people aren't interested in making a measly +10 Pips I've got a spreadsheet somewhere that does the maths I will try and dig it out over the weekend
Hi Steve,

Yes, the compounding will do the work.
Some people prefer swing trading and try to catch big move, it's up to the personality.
I personally prefer intraday which I can get in and out quickly, so the rest of my day will be relax as no positions remaining.

Your trading style and method really fit my personality, thank you for all of the work you have done for this!
"The hard work in trading comes in the preparation"
  • #1,218
  • May 27, 2021 10:22am May 27, 2021 10:22am
Quoting stevepatt
{quote} GBP/USD M30 M5 M1 Observations {image}

GBP/USD M30 M5 Observations

This shows the Big Advantage of a Small TP Target and being nimble enough to Switch Positions with no or a Small Loss
Attached Image (click to enlarge)
Click to Enlarge Name: 27th May 21 GBPUSD M30 M5 Observations.png Size: 196 KB
  • #1,219
  • May 27, 2021 10:30am May 27, 2021 10:30am
Quoting stevepatt
{quote} GBP/USD M30 M5 Observations This shows the Big Advantage of a Small TP Target and being nimble enough to Switch Positions with no or a Small Loss {image}
I see, so that's why your stop loss is far away, you will wait for the price to retrace back and exit the trade manually instead?!!
"The hard work in trading comes in the preparation"
  • #1,220
  • May 27, 2021 10:33am May 27, 2021 10:33am
Quoting stevepatt
{quote} GBP/USD M30 M5 Observations This shows the Big Advantage of a Small TP Target and being nimble enough to Switch Positions with no or a Small Loss {image}

GBP/USD M30 M5 M1 Short Trade 2
Attached Image (click to enlarge)
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