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

Quoting aahmad29

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XAUUSD Here are three different time frames and their targets. Current Price - 1950 M15 - Bearish 1945 H1 - Bearish 1926 H4 - Bullish 1986 It means price is gonna fluctuate between 1926 and 1986. So i have setup pending orders at Target prices because target prices are always nice point of rebound. I think cycle is complete at target price so that's why it is nice point of rebound. Lets see what happen? {image} {image} {image}

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Quoting parisboy

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{quote} Excellent methodology

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Quoting aahmad29

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{quote} Thanks. Now question is that how do I know that how much will be rebound? Is it going to complete another cycle or not? My methodology is different for setting Take profit. I am giving an example of above posted scenario. I have two bearish target and that’s why I use Pivot point with resistance and support. I found that my first bearish target is close to S1. Second bearish target is close to S3. I added third pending order at S2 because some time price rebound in between two Target prices / yellow lines. If price rebound from S1 then my...

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Quoting aahmad29

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XAUUSD Here are three different time frames and their targets. Current Price - 1950 M15 - Bearish 1945 H1 - Bearish 1926 H4 - Bullish 1986 It means price is gonna fluctuate between 1926 and 1986. So i have setup pending orders at Target prices because target prices are always nice point of rebound. I think cycle is complete at target price so that's why it is nice point of rebound. Lets see what happen? {image} {image} {image}

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Quoting aahmad29

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{quote} M15 Bearish Target has been hit @1945 but price is holding for a moment at 1938 and H1 bearish target @1926 is not achieved yet. H4 time frame is giving signs of bullish move because MA's are showing oversold price. Lets see if price hit H1 bearish target before it travel towards H4 bullish target @1986. I got some pips during this time but i am still holding one long position and adding two more @1939 and @1926 so that i can get some more pips tonight or tomorrow. {image}

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Quoting aahmad29

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XAUUSD Here are three different time frames and their targets. Current Price - 1950 M15 - Bearish 1945 H1 - Bearish 1926 H4 - Bullish 1986 It means price is gonna fluctuate between 1926 and 1986. So i have setup pending orders at Target prices because target prices are always nice point of rebound. I think cycle is complete at target price so that's why it is nice point of rebound. Lets see what happen? {image} {image} {image}

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Quoting jullian29

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hello all, anyone planning to make an ema focal point indi?

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Quoting parisboy

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{quote} do it yourself !

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Quoting aptx

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Hi Parisboy, I have constructed the MAs as per your model. I can also spot 2 convergences/ focal points in yellow circles. The current time frame - blue circle has no intersections since the MAs are all backshifted. So how does one take buy/ sell decisions based on lagging intersections ? For example in the chart posted below what action would you have taken based on the chart below ? Thanks{image}

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Quoting parisboy

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{quote} {image}{image}

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Quoting parisboy

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{quote} {image}{image}

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Quoting aptx

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{quote} Same instrument on 1 minute chart gave a similar pattern after some time. Only problem was the double top was much lower than expected. Again let me know if the understanding is correct. {image}

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Quoting parisboy

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{quote} You ALWAYS have "similar patterns" . That is why they are labeled "patterns" Trade on a demo account Develop your strategy (hypoyhesis) check the results Analyze why it has failed If the double top is lower than you expected (what it means exactly) it is that for now Price Action is downtrending. Hint second top is slightly lower than the first

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