Trading should not be difficult
Simple Trendline Orderflow System
- #282
- Edited 8:50am Aug 27, 2021 8:11am | Edited 8:50am
Short on m15, I used m5 for entering.
Closed at next support area.
I think the shells can be reloaded here.
The closest high should be the maximum drawdown, I think.
So I have closed it. That reminds me the importance of verifying in ltf.
Saved by the SL lol
Closed at next support area.
I think the shells can be reloaded here.
The closest high should be the maximum drawdown, I think.
So I have closed it. That reminds me the importance of verifying in ltf.
Saved by the SL lol
questions on chart for anyone interested {image}
Green line must be some level from before. Also looks like it was respected as resistance before as well.
This one is harder.
- #290
- Aug 27, 2021 9:27am Aug 27, 2021 9:27am
questions on chart for anyone interested {image}
With regards to the the lower level we have different feeds but, on my feed it's a classic QM level. On your feed it's a rather unappealing FB level (i.e. it's an FB level but not one that I would ever trade off). I should add that many traders would do - it's just not currently what I'm looking for.
- #295
- Aug 28, 2021 4:35am Aug 28, 2021 4:35am
{quote} very good responses to the question. All are valid responses, but from the perspective of this trading approach the annotations from this chart are my explanations. {image} {image}
Interestingly, a very similar situation occurred just prior to it (hopefully the chart makes sense):
- #296
- Aug 28, 2021 4:39am Aug 28, 2021 4:39am
{quote} This was one of the many things which, at the time, put me off: {image} Interestingly, a very similar situation occurred just prior to it (hopefully the chart makes sense): {image}
- #297
- Edited 6:29am Aug 28, 2021 5:44am | Edited 6:29am
{quote} Whilst looking at EG also spotted this horizontal range from Friday: {image}
In that area, I see this.
Regarding why price bounced dow off that level, I have found these significant confluences:
1- Two candles at the same level forming support:
2 - An old breakout trendline translated to a new swing low:
3 - This rare breakout. According to this thread, one could assume that old orders being accumulated in that compression area are being retested.
4 - This is the micro-breakout area on the m1 timeframe.
5 - I was doubting about posting this last coincidence. See the m1 structure confluence with the nearest round number at the breakout inside the candle bodies. One can consider wicks as delaer's spread just to simplify the idea. To understand the significance of that m1 area, one can verify how the highest high corresponds to the 100% expansion of that area.
{quote} TP hit nicely. Gave me more than I requested. {image}
TL breakout lines/Zones are strong swap zones that attract/repel prices. They are the best supply and demand zones.
{quote} For anyone wondering why my TP was there and why price bounced off from that level yesterday, this is the reason. Price went very bullish from that level yesterday TL breakout lines/Zones are strong swap zones that attract/repel prices. They are the best supply and demand zones. {image}
Trading should not be difficult
