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The Importance of Multiple Set-ups... 14 replies

Attachments: (binned per thread starter’s request) Place to organize my set-up
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(binned per thread starter’s request) Place to organize my set-up

Third type
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Third type
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Quoting Ihlas
I think I will start the third set-up, step by step when it's forming! So far three steps are formed and now we have left is, it shouldn't break the High before breaking Low. The entry should start below Friday's Low Also Friday Low break should happen on Monday. {image}
Waiting for this type of set-up
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Third type
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Blue box is the day when the entry should happen
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I will remember this situation, it looks like third type, but there is a detail that doesn't opt it for third type.
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Quoting Ihlas
{quote} Waiting for this type of set-up {image}
Compare with this above post, days are different
Quoting Ihlas
This is something I'm testing Like simple math 4-2=2 and simple logic if a isn't true b = true (bool) After seeing the EURNZD set-up, I think this should also work EURNZD might drag GBPNZD with itself {image}
If it works it might be a proof that algo is driving the FX market
JUST THOUGHTS
Now look at this working third type.
I willl not forget about EURNZD.
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  • Post #50
  • Quote
  • Edited 3:53am Mar 12, 2023 3:26am | Edited 3:53am
Quoting Ihlas
{quote} If it works it might be a proof that algo is driving the FX market JUST THOUGHTS
I have tested it on few pairs; it works, but let's see if it really works in real time
  • Post #51
  • Quote
  • Edited 7:38am Mar 12, 2023 7:24am | Edited 7:38am
Quoting BWilliam
{quote} Hi Ihlas, you wrote it's very dangerous to rely only on candlesticks. I agree with you 100%. 1. Candlestick patterns, 2. types of candlestick(eg. pinbar, marubeni candle), and 3. Price action(candlesticks in action) All 3 fall under candlesticks. Somewhere in retail sector trading history some people introduced and popularised this form of technical analysis. It had captured the imagination of the retail traders, and it has become a main go to tool in their trading toolbox which they can't live without. Almost every trader is a screen staring...
Hi BWilliam,
Do you use Daily O/C (or it's same 4H close in FX also) and 4H close as a benchmark?

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The day close is also below of that 4H

One more example

EG red line is 50% of week H/L
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  • Post #52
  • Quote
  • Edited 9:47am Mar 12, 2023 9:24am | Edited 9:47am
Quoting Ihlas
{quote} Hi BWilliam, Do you use Daily O/C (or it's same 4H close in FX also) and 4H close as a benchmark? {image} The day close is also below of that 4H One more example EG red line is 50% of week H/L {image}
Conclusion (EURGBP): If EG can't break the low of 1st MARCH (expiry date after London Open), then we have space to test up to March 8th. Also EG has three days to break; maybe after that it can be considered to sell again
I think I have posted CHFJPY wrong direction, If CJ can't break the low as shown above (after London Open), it has space to break up
Trying to do something with recent posts (after quoting BWilliam) as they show mostly 50%
Quoting Ihlas
{quote} Hi BWilliam, Do you use Daily O/C (or it's same 4H close in FX also) and 4H close as a benchmark? {image} The day close is also below of that 4H One more example EG red line is 50% of week H/L {image}
Hi Ihlas, I continuously track market intent from the larger timeframe down to the lowest.
https://www.forexfactory.com/thread/post/14357363#post14357363
Trade the value
Quoting BWilliam
{quote} Hi Ihlas, I continuously track market intent from the larger timeframe down to the lowest. https://www.forexfactory.com/thread/post/14357363#post14357363
Obviously you're using proxy for intent/direction/momentum?
Quoting Ihlas
{quote} Obviously you're using proxy for intent/direction/momentum?
Correct, no primitive candlesticks and price action for me. 😊 Cheers
Trade the value
Quoting BWilliam
{quote} Hi Ihlas, I continuously track market intent from the larger timeframe down to the lowest. https://www.forexfactory.com/thread/post/14357363#post14357363
Why do you focus on timeframes and charts when you said candlesticks are useless?
Or have i misunderstood?
Quoting dinpappa
{quote} Why do you focus on timeframes and charts when you said candlesticks are useless? Or have i misunderstood?
Hi D, you don't see candlesticks on my chart. MT4 is timeframe formatted, it serves the purpose of a clock. Cheers
Trade the value
Quoting BWilliam
{quote} Correct, no primitive candlesticks and price action for me. 😊 Cheers
Whats the difference between lines and candlesticks though? or you dont pay attention to the chart at all?
Because i see you are having lines on your charts, why is that better than the candlesticks?
Quoting dinpappa
{quote} Whats the difference between lines and candlesticks though? or you dont pay attention to the chart at all? Because i see you are having lines on your charts, why is that better than the candlesticks?
Hi, candlesticks give useless info. Lines tell me where price has gone and where it is now. I look at proxies most of the time. Cheers
Trade the value
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