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Simple Trendline Orderflow System

  • #241
  • Aug 25, 2021 2:51am Aug 25, 2021 2:51am
I want to mention that the most common mistake I commit is related to FOMO. It happens more often than I would like and I am not going to say that it is caused by causes extrinsic to me necessarily.

This is one of these trades I am regretting about.
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So what I do is just to close it or diminish the lot size asap and to take profits in recovery mode, just to avoid loses.

Here, the fact is not that it could either be or not a valid short, but that I ignored signals telling me that prices were going to move higher and now my RRR is one half of the one I would have got if I had followed a more disciplined entry.

Anyways, I do not like the level, it is not the ideal high level I usually take when shorting. I mean, good for quick scalps, but unpleasant for long shorts to me.
  • #242
  • Aug 25, 2021 2:56am Aug 25, 2021 2:56am
GBPUSD H1
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  • #243
  • Aug 25, 2021 3:01am Aug 25, 2021 3:01am
Quoting scherzi
I want to mention that the most common mistake I commit is related to FOMO. It happens more often than I would like and I am not going to say that it is caused by causes extrinsic to me necessarily. This is one of these trades I am regretting about. {image} So what I do is just to close it or diminish the lot size asap and to take profits in recovery mode, just to avoid loses. Here, the fact is not that it could either be or not a valid short, but that I ignored signals telling me that prices were going to move higher and now my RRR is one half...
We must find a way to tame our trading vices. You are right about the upper level

Quoting EngineerFx
{quote} We must find a way to tame our trading vices. You are right about the upper level
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Trading should not be difficult
  • #244
  • Aug 25, 2021 3:06am Aug 25, 2021 3:06am
Quoting scherzi
I want to mention that the most common mistake I commit is related to FOMO. It happens more often than I would like and I am not going to say that it is caused by causes extrinsic to me necessarily. This is one of these trades I am regretting about. {image} So what I do is just to close it or diminish the lot size asap and to take profits in recovery mode, just to avoid loses. Here, the fact is not that it could either be or not a valid short, but that I ignored signals telling me that prices were going to move higher and now my RRR is one half...
Hi Scherzi

Thanks for the honest post, confused on these 1,2 and 3 levels.
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"Exchange of hands"
  • #245
  • Aug 25, 2021 3:21am Aug 25, 2021 3:21am
Quoting bilal1947
{quote} Hi Scherzi Thanks for the honest post, confused on these 1,2 and 3 levels. {image}
I try not to be too biased by predefined names (UK session, support, ...). When we need to look at another place headfirst is because the PA is not talking by itself. We need to flow with the chart.
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We have this on GU and nothing else. I think a top-down aprroach is better, so if the overall chart is not telling you anything clear, then I think you should go for another chart and/or timeframe.

Regarding the levels, what third parties say is always biased and nothing guarantees they are going to be able to express what they think or that you are going to understand what they intend to. The UK session is not part of this thread's scope, so it is irrelevant as well.

Does this chart of the same asset tells you anything?

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Can you see know which is the only level you need to care about today?
  • #246
  • Aug 25, 2021 4:51am Aug 25, 2021 4:51am
Not enough value for me but reacted perfectly to the level:

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  • #247
  • Aug 25, 2021 7:49am Aug 25, 2021 7:49am
Quoting bilal1947
{quote} Hi Scherzi Thanks for the honest post, confused on these 1,2 and 3 levels. {image}
By luck, it pans almost exact, the trend line break can be a point of reference for tomorrow.
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"Exchange of hands"
  • #248
  • Aug 25, 2021 8:03am Aug 25, 2021 8:03am
Please did you have telegram group....thanks
  • #249
  • Aug 25, 2021 8:27am Aug 25, 2021 8:27am
Quoting bilal1947
{quote} By luck, it pans almost exact, the trend line break can be a point of reference for tomorrow. {image}
Luck? That was a clean nice setup.

Always good to zoom out to see bigger picture
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Trading should not be difficult
  • #250
  • Aug 25, 2021 8:32am Aug 25, 2021 8:32am
Quoting Seunboi4u
Please did you have telegram group....thanks
No pls
Trading should not be difficult
  • #251
  • Aug 25, 2021 8:34am Aug 25, 2021 8:34am
Quoting EngineerFx
{quote} Luck? That was a clean nice setup. Always good to zoom out to see bigger picture {image}
Amazing mate , i may not have noticed that.

this thread name should be one shot one kill

thank you
"Exchange of hands"
  • #252
  • Aug 25, 2021 9:28am Aug 25, 2021 9:28am
Quoting bilal1947
{quote} By luck, it pans almost exact, the trend line break can be a point of reference for tomorrow. {image}
price didnt wait till tomorrow:
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"Exchange of hands"
  • #253
  • Aug 25, 2021 10:06am Aug 25, 2021 10:06am
Not a great imbalance between buyers and sellers but overall buying momentum was strong:

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  • #254
  • Aug 25, 2021 12:40pm Aug 25, 2021 12:40pm
Quoting EngineerFx
{quote} Luck? That was a clean nice setup. Always good to zoom out to see bigger picture {image}
hi.Thanks for the great setup. Do you work rtm?
  • #255
  • Aug 25, 2021 12:56pm Aug 25, 2021 12:56pm
Quoting amir65
{quote} hi.Thanks for the great setup. Do you work rtm?
virtually every method out there
Trading should not be difficult
  • #256
  • Aug 26, 2021 3:05am Aug 26, 2021 3:05am
Ok, I took this trade today.

I had to close it early because I entered by mistake 5% of risk, so I closed it with only effective ~5:0.25 RRR of profit to avoid being exposed to markets with such a high degree of risk.

But the configuration is quite clear. Nothing is guaranteed, but there was a compression area and other confluences there to go long. And it also fits within this thread's basic idea.
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I also took it late, simply because I was looking too many charts and saw it at that point (reason why I opened the trade too fast and did not notice the trading assistant had the default 5% iof my lower risk level that is never higher that 1%).

I have to write again to the author of the tool to ask him to change that feature.
  • #257
  • Aug 26, 2021 3:17am Aug 26, 2021 3:17am
Some nice opportunities this morning:

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  • #258
  • Aug 26, 2021 5:38am Aug 26, 2021 5:38am
Looks like a great system. I did some back testing on the 15 minute time frame and was quite impressed. I will give a good try.
  • #259
  • Aug 26, 2021 10:25am Aug 26, 2021 10:25am
Engineer - if you get a chance I'd be interested to know if this trade fits the criteria of what you are showing here. My guess it's not although you'll probably understand why it worked.

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  • #260
  • Aug 26, 2021 11:44am Aug 26, 2021 11:44am
Quoting Alien2021
Engineer - if you get a chance I'd be interested to know if this trade fits the criteria of what you are showing here. My guess it's not although you'll probably understand why it worked. {image}
I'd say it is very much in line with the criteria. See annotations on chart
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Trading should not be difficult
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