Trading Focal Points -- "A Leap Of Faith"... | Page 22 | Forex Factory

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Trading Focal Points -- "A Leap Of Faith"...

  • #421
  • Apr 7, 2022 2:38pm Apr 7, 2022 2:38pm
Quoting parisboy
{quote} we were talking about Double Botoms (or Double Tops) a) you cannot master 32 configurations M & W patterns -which moreover are very close from each other. b) the question is not only to identify the most common patterns but to define "rules" (even of thumb) to use them for trading
So , waiting your rules
  • #422
  • Apr 7, 2022 2:38pm Apr 7, 2022 2:38pm
Today's overall performance of trading in XAUUSD. Some untested resistances are there and some are verified multiple times. Target price is not yet achieved
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD.png Size: 56 KB
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  • #423
  • Apr 7, 2022 3:14pm Apr 7, 2022 3:14pm
Quoting aahmad29
Today's overall performance of trading in XAUUSD. Some untested resistances are there and some are verified multiple times. Target price is not yet achieved {image}
Looking your charts aahmad, but aren't you kinda drifting away from the MAs? You are now selling and buying at sup//res and pivot points.

What role do the MAs still play in this?
  • #424
  • Apr 7, 2022 3:27pm Apr 7, 2022 3:27pm
Quoting FundedCoffee
{quote} Looking your charts aahmad, but aren't you kinda drifting away from the MAs? You are now selling and buying at sup//res and pivot points. What role do the MAs still play in this?
I am using this system for scalping in two ways.

1) I put limit orders at Target price (Yellow line). Sometimes Target price shows on both sides (long and short) so I put limit orders on both sides.

2) When Red line MA goes above all other MA’s and candle close above Red line MA , I placed sell order with target of pink line MA and sometimes I hold trade for long time to grab some extra pips if my trade is in trend direction.

For long position Red line MA supposed to be at bottom.

you can say that I am trying to identify overbought and oversold level with MA’s. I also set target with help of MA’s.

Remember this way of trading is not for all currency pairs. At this moment I am trading in AUDCAD and XAUUSD because of their restricted range.
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  • #425
  • Apr 7, 2022 3:44pm Apr 7, 2022 3:44pm
Quoting FundedCoffee
{quote} Looking your charts aahmad, but aren't you kinda drifting away from the MAs? You are now selling and buying at sup//res and pivot points. What role do the MAs still play in this?
May be you will easily understand with this screenshot. If you see all short positions are above Red line MA. Sometimes i close trade early so target is not fixed. I use pivot point, support and resistance areas for further verification and information.
Attached Image (click to enlarge)
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  • #426
  • Apr 7, 2022 7:49pm Apr 7, 2022 7:49pm
My pending order missed in Red area so made late entry and close at support area. I got greedy to get some more pips and waited for price to go in sell zone but i should have stay with my initial decision to have pending order at Yellow target line. I need to work more on my patience and discipline.
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Click to Enlarge Name: XAUUSD.png Size: 45 KB
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  • #427
  • Apr 8, 2022 2:25am Apr 8, 2022 2:25am
I think some unexpected price action is going to happen in GOLD because focal points are showing both bullish and bearish targets at same time and then disappear. Last time when this thing happened , XAUUSD had big candles. parisboy already explained the reason behind both targets keep popping up but I was just mentioning my observations of last time PA reacted.
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  • #428
  • Edited 6:00am Apr 8, 2022 5:36am | Edited 6:00am
MES 1min => Double Top

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The circle is complete
  • #429
  • Edited 6:23am Apr 8, 2022 6:09am | Edited 6:23am
Basically, not really difficult, about Double Top or Double Bottom.
Look...

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When you get the cross 2x in Double Top example, its time to look to sell...
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When you see third 3rd crossing, its time to look to exit
  • #430
  • Apr 8, 2022 6:35am Apr 8, 2022 6:35am
Quoting aahmad29
I think some unexpected price action is going to happen in GOLD because focal points are showing both bullish and bearish targets at same time and then disappear. Last time when this thing happened , XAUUSD had big candles. parisboy already explained the reason behind both targets keep popping up but I was just mentioning my observations of last time PA reacted.
As i suspected that PA will show some unexpected behaviour. Price went up and came down and then again up. My pending order got activated but i closed very early with small profit. Again i have to work on my patience level. Actually i had doubt that price has gone up activated my sell limit order but i was not sure that how much price will go down because yellow target line was below PP. I should have target set at PP. PA missed the target and rebound from PP. Lets see how it reacts before closing the market.
Attached Image (click to enlarge)
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  • #431
  • Apr 8, 2022 11:43am Apr 8, 2022 11:43am
My pending orders are survived and closed in Net Profit. Performance of Friday in GOLD is here.
Attached Image (click to enlarge)
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  • #432
  • Apr 8, 2022 11:23pm Apr 8, 2022 11:23pm
Quoting parisboy
{quote} 18 Months (78 Weeks) 9 Months (39 Weeks) 4.5 Months (19-20 Weeks) 10 Weeks 5 Weeks {image}
Finally version 2 ...
I simplified the formula, more right and accurated.

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  • #433
  • Apr 9, 2022 5:15am Apr 9, 2022 5:15am
Quoting js497
{quote} Finally version 2 ... I simplified the formula, more right and accurated. {image}
which formula?
  • #434
  • Apr 11, 2022 11:12am Apr 11, 2022 11:12am
As usual i setup 3 pending orders and third pending order is at/close to yellow line. Closed three positions in net profit. I should have close the positions at Blue line MA but i decided to close with 60% retracement.
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  • #435
  • Edited 12:07pm Apr 12, 2022 11:36am | Edited 12:07pm
Today on MES 1min chart (micro futures sp500)

Vertical line on the right, shows the moment where we are (its like a replay mode)

in the first time, 128CMA focal1 => 64CMA focal2

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second time, 256CMA focal1 => 64CMA focal2

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third time, 256CMA focal1 => 64CMA focal2

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  • #436
  • Edited 2:26pm Apr 12, 2022 11:39am | Edited 2:26pm
Quoting aahmad29
As usual i setup 3 pending orders and third pending order is at/close to yellow line. Closed three positions in net profit. I should have close the positions at Blue line MA but i decided to close with 60% retracement. {image}
Another successful use of target price(Yellow Line)
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  • #437
  • Apr 13, 2022 12:39am Apr 13, 2022 12:39am
Asian session was good
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  • #438
  • Apr 13, 2022 7:06am Apr 13, 2022 7:06am
So far NY session disappointed me. There is not much action. I only have one pending order (short position) activated.
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  • #439
  • Apr 13, 2022 3:22pm Apr 13, 2022 3:22pm
While holding short position in H4 time frame, i got small scalping opportunities for long position in M5 time frame so i took it.
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  • #440
  • Apr 13, 2022 3:31pm Apr 13, 2022 3:31pm
Here are different target prices in different time frames. Current Price of XAUUSD is 1978.

M5 target price (short) is 1973 and 1970

M15 Target price (long) is 1982

M30 No Target price

H1 Target price is 1980 which is already achieved.

H4 Target price (long) is 1989

so my scalping area is between 1970 to 1989
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