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Market Structure Only- keep your charts clean

  • #881
  • Jul 28, 2021 8:36am Jul 28, 2021 8:36am
Quoting sanmiguell
Hi nikos I hope you don't mind if I ask about one of your chart. here I can see a break of structure for sell, but why I'm wrong? {image}
15m trade with 3m entry. Is it clear on 15m?
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  • #882
  • Jul 28, 2021 8:36am Jul 28, 2021 8:36am
Quoting sanmiguell
Hi nikos I hope you don't mind if I ask about one of your chart. here I can see a break of structure for sell, but why I'm wrong? {image}
You are wrong selling at the bottom. Just that. Sell high, buy low.
  • #883
  • Jul 29, 2021 7:40am Jul 29, 2021 7:40am
Gj BOMS anticipated...
Break of Market Structure..
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  • #884
  • Jul 29, 2021 7:51am Jul 29, 2021 7:51am
S&P500 to make a new HH, HigherHIGH on H4...
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  • #885
  • Jul 29, 2021 7:55am Jul 29, 2021 7:55am
S&P500 possible swing play on M15...
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  • #886
  • Jul 29, 2021 8:03am Jul 29, 2021 8:03am
S&P500
Bullish bias plus a Bearishness...
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  • #887
  • Jul 29, 2021 8:28am Jul 29, 2021 8:28am
EU... swingPLAY
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  • #888
  • Jul 29, 2021 10:54am Jul 29, 2021 10:54am
Quoting scherzi
{quote} I have no precise studies on that. I usually close the whole trade in these two cases: - I reach 1:1 or a sufficient expansion near or beyond 1:1 as long as the PA suggests I have to. - I think my trade is wrong no matter if the trade reached or not my SL. At the very second I guess I was wrong, I close it manually. I really would need very good reasons in order to consider establishing RRRs higher than 1:1. A lot of things should converge on a chart for me to consider doing it. For instance, imagine that your chances of getting 1:1=70%....
i FEEL LIKE YOU PUT THE TRADE LEVELS ON THE CHART WHERE YOU THINK THE MARKET WILL GO PER SYSTEM AND THEN MEASURE THE RISK REWARD . tHE TRADE MANAGER EA IS PRETTY COOL FOR THIS.
  • #889
  • Jul 29, 2021 2:26pm Jul 29, 2021 2:26pm
Quoting henn9
{quote} i FEEL LIKE YOU PUT THE TRADE LEVELS ON THE CHART WHERE YOU THINK THE MARKET WILL GO PER SYSTEM AND THEN MEASURE THE RISK REWARD . tHE TRADE MANAGER EA IS PRETTY COOL FOR THIS.
Yes, the first level or 1:1 is where I think I have 100% chances of winning if the price goes in the direction I guess. This is, the minimum change I expect.
  • #890
  • Jul 29, 2021 11:19pm Jul 29, 2021 11:19pm
Sticking to the trading plans and rules is always a good idea. The rules you have set are good and effective. Thanks for sharing!
  • #891
  • Jul 30, 2021 8:37pm Jul 30, 2021 8:37pm
Quoting scherzi
{quote} Yes, the first level or 1:1 is where I think I have 100% chances of winning if the price goes in the direction I guess. This is, the minimum change I expect.
i AGREE BUT i LIKE TO SEE A LITTLE MORE THAN THAT JUST TO COVER THE SPREAD, SO LIKE 1.2 MINIMUM BUT LOVE TO GET MORE! THE SPREAD CANNOT BE DISCOUNTED , tHE GREATER THE REWARD FOR THE SMALLEST RISK USING THIS SYSTEM SHOULD BE THE GOAL AND MY BELIEF IS YOU SHOULD NEVER GO BELOW 1 : 1
  • #892
  • Jul 31, 2021 5:57am Jul 31, 2021 5:57am
Quoting henn9
{quote} i AGREE BUT i LIKE TO SEE A LITTLE MORE THAN THAT JUST TO COVER THE SPREAD, SO LIKE 1.2 MINIMUM BUT LOVE TO GET MORE! THE SPREAD CANNOT BE DISCOUNTED , tHE GREATER THE REWARD FOR THE SMALLEST RISK USING THIS SYSTEM SHOULD BE THE GOAL AND MY BELIEF IS YOU SHOULD NEVER GO BELOW 1 : 1
Yeah, your point is right.
  • #893
  • Aug 2, 2021 3:12am Aug 2, 2021 3:12am
Quoting scherzi
{quote} Yes, the first level or 1:1 is where I think I have 100% chances of winning if the price goes in the direction I guess. This is, the minimum change I expect.
Today GU. Study graph ( a bit over 5x) and Nikosk0 principles, add your own stuff and you are good to go.

PS: Orange line - Tokyo open, Blue line - London open.
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  • #894
  • Edited 4:02am Aug 2, 2021 3:50am | Edited 4:02am
Quoting snail69
{quote} Today GU. Study graph ( a bit over 5x) and Nikosk0 principles, add your own stuff and you are good to go. PS: Orange line - Tokyo open, Blue line - London open. {image}
I think that there is a strong suppot at the 1.3911 area. I mean, the triangle you designate is already projeted and concluded. Nowthe PA in progress seems to be more recent. The support is very likely to act as a magnet before releasing prices up.

If the current structure would be invalidated, then you should study the other one, but now I think these prices are not significant while the current PA is negotiated.
  • #895
  • Aug 2, 2021 3:58am Aug 2, 2021 3:58am
So, while the current dynamics are expanding above, the 1.39 area is cleared and a retest would imply lack of interest for it and a probable run of the PDL level that is so close. But for now I only see HHS and HLs.

The current highs are not a resistance and I think that a deeper penetration of these highs would probably be required, at least a fake upward breakout.

I am on holiday, so I am not checking my charts, just browsing the forum.
  • #896
  • Aug 2, 2021 12:43pm Aug 2, 2021 12:43pm
motorcycles are one passion, girls are another and FOOD is the dominant.

i love food and to satisfy my appetite i need to cook myself or go to highly expensive restorants. and i am not a millionare to do so....

spageti pesto genovese
pork with basiliko, 5 peppers, mountain salt, vasiliko first on the grill and finish on the oven.
mushrooms and onion rings grilled on the fat of the pork.

need some work on the presentation
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  • #897
  • Aug 4, 2021 4:07am Aug 4, 2021 4:07am
maybe its time for the big drop. worth the risk anyway even if it is not
us500

also us30 has the same setup i just think us500 could make a bigger correction
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  • #898
  • Aug 4, 2021 4:31am Aug 4, 2021 4:31am
Quoting nikosk0
maybe its time for the big drop. worth the risk anyway even if it is not us500 also us30 has the same setup i just think us500 could make a bigger correction {image}
Hey Nik! How you been?

Quick question- Your 1m trailing stop method, how does it work? You move your SL to the previous swing high after price breaks structure LL and creates another LL(In a sell situation)?
If that's it, how often does your stop get hit only to continue in your profitable trade direction?

Too many B.E trades these days for me especially after getting close to 2.5R.
  • #899
  • Aug 4, 2021 4:51am Aug 4, 2021 4:51am
Quoting Koop
{quote} Hey Nik! How you been? Quick question- Your 1m trailing stop method, how does it work? You move your SL to the previous swing high after price breaks structure LL and creates another LL(In a sell situation)? If that's it, how often does your stop get hit only to continue in your profitable trade direction? Too many B.E trades these days for me especially after getting close to 2.5R.

hy man. i only use it when entering on small timeframes for big moves during NY mainly.

HOPE the image below helps

so when break1 happens i put stop at break even
when break2 happens then trailing stop2
break break 3 happens trailing stop 3.
etc.
when structure shifts, i wait for either trailing stop to get hit or price to retest the low to exit.

each time we have a break of a low i put the stop above the previous high.

btw. getting almost 2r and eventually out at break even is almost criminal activity. you gotta secure some profit.
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  • #900
  • Aug 4, 2021 4:53am Aug 4, 2021 4:53am
Quoting nikosk0
maybe its time for the big drop. worth the risk anyway even if it is not us500 also us30 has the same setup i just think us500 could make a bigger correction {image}
It is still contract building up. It is not a break imo.

By only watching your chart I would anticipate a retracement, not a reversal to create a buy program while lowering prices. But inside the current structure shown at your chart. Maybe a retracement down to the 80% level (I mean a deep one). But for now, it would only be a preparation for a later rally.

If we see breaks of the highs instead before with structure above, then the story would be bearish. But for now the structure suggests a net long intention for me right now at this very minute and second I am watching your chart. I am not checking any data other than your screenshot.
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