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GBP/USD M5 Trading

  • #341
  • Jul 6, 2022 2:21am Jul 6, 2022 2:21am
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  • #342
  • Jul 6, 2022 3:20am Jul 6, 2022 3:20am
Quoting senjamerah
{image}
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  • #343
  • Jul 6, 2022 8:50pm Jul 6, 2022 8:50pm
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Brake-quick retest-entry
  • #344
  • Jul 6, 2022 11:19pm Jul 6, 2022 11:19pm
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  • #345
  • Jul 7, 2022 12:07am Jul 7, 2022 12:07am
Quoting senjamerah
{image}
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  • #346
  • Jul 7, 2022 8:29pm Jul 7, 2022 8:29pm
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observation
  • #347
  • Jul 7, 2022 9:54pm Jul 7, 2022 9:54pm
Quoting senjamerah
{image} observation
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  • #348
  • Jul 7, 2022 11:30pm Jul 7, 2022 11:30pm
Quoting senjamerah
{quote} {image}
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  • #349
  • Jul 8, 2022 2:22am Jul 8, 2022 2:22am
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Quoting senjamerah
{image}
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  • #350
  • Jul 11, 2022 8:23am Jul 11, 2022 8:23am
Quoting senjamerah
{image} {quote} {image}
Hi, Senjamerah
The following is Nat Gas chart. If you were trading this, I guess A could be Sell entry which ended up loss trade and B could be Buy entry. Am I correct? Any comment? Actually, big players made a fake move trapping gap players, which is very common.
Thanks,
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Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #351
  • Jul 11, 2022 8:36am Jul 11, 2022 8:36am
Quoting heispark
{quote} Hi, Senjamerah The following is Nat Gas chart. If you were trading this, I guess A could be Sell entry which ended up loss trade and B could be Buy entry. Am I correct? Any comment? Actually, big players made a fake move trapping gap players, which is very common. Thanks, {image}
So small candle. You don't try WTI ?
  • #352
  • Jul 11, 2022 8:44am Jul 11, 2022 8:44am
Quoting ThiefKid
{quote} So small candle. You don't try WTI ?
Obviously, you have no idea how nat gas market is volatile.......
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #353
  • Jul 11, 2022 9:34am Jul 11, 2022 9:34am
Quoting heispark
{quote} Hi, Senjamerah The following is Nat Gas chart. If you were trading this, I guess A could be Sell entry which ended up loss trade and B could be Buy entry. Am I correct? Any comment? Actually, big players made a fake move trapping gap players, which is very common. Thanks, {image}
Attached Image (click to enlarge)
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IMHO, the PA at point A is not attractive comparing to point B

Quoting senjamerah
{quote} {image}IMHO, the PA at point A is not attractive comparing to point B
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double wicks (in circle) a sign of rejection..i will avoid to sell unless price penetrate that level....point B is a very good buy setup IMO...good luck pal...
  • #354
  • Jul 11, 2022 10:20am Jul 11, 2022 10:20am
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an example of simple PA that effective for gold scalp..mostly i'm not trading LO-NY hour..
  • #355
  • Jul 11, 2022 10:44am Jul 11, 2022 10:44am
Quoting senjamerah
{quote} {image}IMHO, the PA at point A is not attractive comparing to point B {quote} {image}double wicks (in circle) a sign of rejection..i will avoid to sell unless price penetrate that level....point B is a very good buy setup IMO...good luck pal...
Thank you for your feedback. I believe you are one of the real profitable traders in FF, which is rare.....
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #356
  • Edited 11:55am Jul 11, 2022 11:40am | Edited 11:55am
With only being able to Trade around Frankfurt Open and around London Close I am missing all the best Setups to Trade.

I'm fighting a losing battle with the Markets and only coming out at BE+

It's really not worth the risk taking live Trades with limited time to Trade

I have been looking at the M1 TF and have found something quite basic but gives a positive result

I'm using the 30 60 120 and 240 EMAs on M1 this represents the a 1 EMA on these TFs which gives me Direction

I just wait for a PullBack to the 30 and 60 EMA mostly and sometimes I take Trades from the 120 and even 240 depending on how Price behaves at them

I look for Engulfing Candles etc to take Trades from the EMAs a combination of 1M Structure Levels makes for more confluence

EDIT I've added a closer look at Price (17.42 BST)

There are plenty of Setups so no need to take chances

I am only aiming for +10 Pips and using a +20 Pip Stop Loss

I know I'm risking 20 Pips to only make 10 but the Strike Rate is high

I've been doing this mainly on Think Traders Trader Gym which is a simulation of Price

It's a useful tool just google it if you are interested

If anyone is interested run it through Traders Gym to get an idea of how it works for YOU
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  • #357
  • Jul 11, 2022 12:04pm Jul 11, 2022 12:04pm
Quoting stevepatt
With only being able to Trade around Frankfurt Open and around London Close I am missing all the best Setups to Trade. I'm fighting a losing battle with the Markets and only coming out at BE+ It's really not worth the risk taking live Trades with limited time to Trade I have been looking at the M1 TF and have found something quite basic but gives a positive result I'm using the 30 60 120 and 240 EMAs on M1 this represents the a 1 EMA on these TFs which gives me Direction I just wait for a PullBack to the 30 and 60 EMA mostly and sometimes I take...
Hi Steve

Are you using the above strategy because of time like you mention or you have found it to be good. It makes sense, is combining multiple candles into 1

Thanks
Kind regards
  • #358
  • Jul 11, 2022 12:36pm Jul 11, 2022 12:36pm
Quoting stevepatt
With only being able to Trade around Frankfurt Open and around London Close I am missing all the best Setups to Trade. I'm fighting a losing battle with the Markets and only coming out at BE+ It's really not worth the risk taking live Trades with limited time to Trade I have been looking at the M1 TF and have found something quite basic but gives a positive result I'm using the 30 60 120 and 240 EMAs on M1 this represents the a 1 EMA on these TFs which gives me Direction I just wait for a PullBack to the 30 and 60 EMA mostly and sometimes I take...
I think you had a reason why you removed MAs from your chart since you ditched TDI. There are times when market is choppy and MAs are useless. I guess if you stick to your current naked pure PA based strategy, MAs won't be a big help (even worse, you may miss some good opportunities due to MAs). If you don't find time for scalping, why don't you just trade on higher TFs such as 1H or daily. Or, you can learn futures spread tradings or options tradings. There are many ways to make money from tradings except directional bettings.

By the way, I marked two potential losing trades in your pictures. I guess you would have taken it if you were in front of the PC screen. Thank you for any comment on that.
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Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #359
  • Jul 11, 2022 12:36pm Jul 11, 2022 12:36pm
Quoting Frag8383
{quote} Hi Steve Are you using the above strategy because of time like you mention or you have found it to be good. It makes sense, is combining multiple candles into 1 Thanks Kind regards
Hi Frag,

I'm always looking for new ideas and have wanted to find a way to Trade the M1 Chart without reference to other TFs

The EMAs allows me to do this

It looks promising I have only looked at the GBP/USD

The best thing, if you are interested, is to run it through Think Traders Trader Gym to see if you can make it work for you

It does need some knowledge of Price the more practice you do the better it will get

See what Stop and TP Levels will work for you
  • #360
  • Jul 11, 2022 12:47pm Jul 11, 2022 12:47pm
Quoting stevepatt
{quote} Hi Frag, I'm always looking for new ideas and have wanted to find a way to Trade the M1 Chart without reference to other TFs The EMAs allows me to do this It looks promising I have only looked at the GBP/USD The best thing, if you are interested, is to run it through Think Traders Trader Gym to see if you can make it work for you It does need some knowledge of Price the more practice you do the better it will get See what Stop and TP Levels will work for you
As far as I know 50 EMA on 1M chart isn't identical to 10 EMA on 5M chart. They are slightly different. If they are the same, people wouldn't make MTF version of indicators.
Regarding Think Traders Gym, chart replay features are common to most modern platforms. Of course we don't expect this from Metatrader piece of shit.
Simplicity is the ultimate sophistication - Leonardo da Vinci
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