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Attachments: Daylight Trading Strategy
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Daylight Trading Strategy

  • #701
  • Jul 1, 2021 8:00am Jul 1, 2021 8:00am
Quoting scsstnt
XAU/USD - cross & retracement to previous high{image}
Where was the daylight?
All you touch and all you see, is all your life will ever be.
  • #702
  • Jul 1, 2021 8:01am Jul 1, 2021 8:01am
Just take this trade again, downward momentum dies down and I hope it goes up.
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Jakepuia
  • #703
  • Jul 1, 2021 8:31am Jul 1, 2021 8:31am
Quoting Jakepuia
{quote} I dare not to trade this one for the time being, it eats me up often
I agree :-) ,after that cross I expected significant retracement to a previous high at least, which I have back tested and results gave high probability.I just went for it.....as I type XAUUSD pullback with a 38 pips wick lol to remove all hope of going long,but experience in the market is the best teacher.Took profit before manipulation,closing small profits consistently. Imagine a batsman making runs throughout his career 50s,60s,70s,80s in between he scores centuries when conditions are right, keep frustrating the broker/bowler,smash every one when you have the chance,look for the perfect line and length.
  • #704
  • Jul 1, 2021 9:49am Jul 1, 2021 9:49am
Quoting LauraT
{quote} Hi, Good question. I'm unsure how useful posting my trades are as they are often quite straightforward and dull. Part of the answer takes me back to Roadmap days and my Journal. I look at market structure primarily. In Daylight terms, I then look at the smoothed moving averages in the sub-window and see how they appear. In today's trades, I noticed that both market structure and the smoothed MAs were accommodative for further downside. I tend to not trade currencies too often these days. I also tend to limit my active short-term trades to...
Hi Laura - thanks for an interesting strategy and to let you know that it is proving successful. I still have problems with Market Structure as this is discretionary! More on this if you can.

The way I have been trading is to look for an aggro signal (this example is a SELL) on say a 5 minute with the red/blue MA above the -50 : the blue has crossed under the red with daylight. Then check confluence on the next time frame - the Red/Blue should also be above the -50 and have been reasonably wide but the gap is starting to close - obviously there has not been an aggro signal on this time frame yet.

Have found this to be a good place to enter with half lots - then if price goes back into channel, add the other half.
  • #705
  • Jul 1, 2021 10:04am Jul 1, 2021 10:04am
Quoting Toccata
{quote} Hi Laura - thanks for an interesting strategy and to let you know that it is proving successful. I still have problems with Market Structure as this is discretionary! More on this if you can. The way I have been trading is to look for an aggro signal (this example is a SELL) on say a 5 minute with the red/blue MA above the -50 : the blue has crossed under the red with daylight. Then check confluence on the next time frame - the Red/Blue should also be above the -50 and have been reasonably wide but the gap is starting to close - obviously...
Hi,

Your approach seems solid and I'm very glad to hear it's successful thus far.

I did a very basic introduction to market structure on the Roadmap thread previously:

https://www.forexfactory.com/thread/...5#post12929315

Which specific elements of market structure would you like me to expand upon? Happy to do so once I know which areas to focus on.
  • #706
  • Jul 1, 2021 1:10pm Jul 1, 2021 1:10pm
Took this "channel failure" a bit early but thought since its been riding the SMA200 down...
Any critique is welcome.

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  • #707
  • Jul 2, 2021 6:31am Jul 2, 2021 6:31am
Got lucky on Gold +46
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  • #708
  • Jul 2, 2021 6:58am Jul 2, 2021 6:58am
Example of a 50 line cross down not taken. Just not where I think I want to be with that range action.

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  • #709
  • Jul 2, 2021 7:04am Jul 2, 2021 7:04am
Another lucky one GC +32
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  • #710
  • Jul 2, 2021 7:10am Jul 2, 2021 7:10am
Doing good today. EA +17
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  • #711
  • Jul 2, 2021 7:13am Jul 2, 2021 7:13am
This one not so hot. EC +8.
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  • #712
  • Jul 2, 2021 7:15am Jul 2, 2021 7:15am
Quoting spyderman
Example of a 50 line cross down not taken. Just not where I think I want to be with that range action. {image}
Yes, really ugly.
  • #713
  • Jul 2, 2021 7:16am Jul 2, 2021 7:16am
Quoting 40PipsAlan
Doing good today. EA +17 {image}
Nice results.
  • #714
  • Jul 2, 2021 7:17am Jul 2, 2021 7:17am
Quoting LauraT
{quote} Nice results.
NFP 13 mins time. Be careful.
  • #715
  • Jul 2, 2021 7:53am Jul 2, 2021 7:53am
Example of not watching the trades. AC -10 Notice the spiky candle at NFP time
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  • #716
  • Jul 2, 2021 8:16am Jul 2, 2021 8:16am
Quoting 40PipsAlan
Example of not watching the trades. AC -10 Notice the spiky candle at NFP time {image}

Yeah short TF trades are probably best closed prior to NFP. My 4h trades can hopefully ride it out. Plus its Friday so I'm seeing some end of week sell off.
  • #717
  • Jul 2, 2021 9:08am Jul 2, 2021 9:08am
Quoting spyderman
{quote} Yeah short TF trades are probably best closed prior to NFP. My 4h trades can hopefully ride it out. Plus its Friday so I'm seeing some end of week sell off.
Remember it's the Independence Day 4th of July weekend for the US as well.
  • #718
  • Jul 2, 2021 9:54am Jul 2, 2021 9:54am
This system has got potential. Nice work Laura keep it up. Just need to work on the exits now and avoid too much chart watching as I am getting behind in my real job.
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  • #719
  • Jul 2, 2021 10:04am Jul 2, 2021 10:04am
Quoting 40PipsAlan
This system has got potential. Nice work Laura keep it up. Just need to work on the exits now and avoid too much chart watching as I am getting behind in my real job. {image}
Well done. Hopefully the day job isn't suffering too much!
  • #720
  • Jul 2, 2021 10:45am Jul 2, 2021 10:45am
XAU/USD
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