{quote} Hi alterchristo, if I may ask, why don't you consider this FTR? thank you in advance {image}
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Hi Fex, that's a good FTR but I put more value on FL (FTR that holds the price up/down) especially when it has a great history on the left.
anyway, it was a very very risky trade, I set close TG for each
{quote} I think his key levels are similar to selfcontrols as I have backtested both and seen the same. But at the same time matrix2017 also has another variation of FTRs which I can see in some of his trades and he's also mentioned it in his post.
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Hi Afgg,
What are those key levels? Would you like to share with us?
{quote} Hi Afgg, What are those key levels? Would you like to share with us?
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What i understood key levels are left shoulders that were significant that had multiple touches , the FTR is similar to the kink around those key levels, and we trade the first time back to them.
so basicaly they are flag limits or kinks or Order blocks or sup/demand or decision points or DBDS/RBRS around SR levels or swap levels or left shoulders or previous swing highs lows , they are all the same thing just with different terminology
{quote} Hi Afgg, What are those key levels? Would you like to share with us?
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I deleted my previous comment as I am not sure if what I said was correct because I do not want to assume how matrix or anyone here trades. I just trade what I learnt from these posts and my own backtest.
{quote} What i understood key levels are left shoulders that were significant that had multiple touches , the FTR is similar to the kink around those key levels, and we trade the first time back to them. so basicaly they are flag limits or kinks or Order blocks or sup/demand or decision points or DBDS/RBRS atound SR levels or swap levels or left shoulders or previous swing highs lows , they are all the same thing just with different terminology {image}
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Thank you Benadil.. This was my understanding as well.. wanted to confirm the types of key levels he uses
I want to jump in this discuss and tell you guys, that maybe it looks like quite easy, but it's not. Same matrix said that his strategy is based on iQM, but also on 8 steps to confirm trade, one of them is surely engulf, there is no doubt. I've been trying to solve this puzzle which concerns matrix strategy since months.
Btw. the chart is full of left shoulders, tell me why exactly these works...
I want to jump in this discuss and tell you guys, that maybe it looks like quite easy, but it's not. Same matrix said that his strategy is based on iQM, but also on 8 steps to confirm trade, one of them is surely engulf, there is no doubt. I've been trying to solve this puzzle which concerns matrix strategy since months. Btw. the chart is full of left shoulders, tell me why exactly these works...
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nothing works all the time in trading , the holy grail doesnt exist , the key levels were areas in the past where market acivity(buying and selling) was around them, the FTRs around those levels become significant , they basically become decision points that may turn price in the future when price visits them first time, a key level can be a swap RS level, a quasimodo level , an ignored QM level. think of the FTRS around key levels as potential support and resistance levels , offcourse they can be broken. you may add approach PA,or reaction pa to have extra confirmation on them, you may use multitime frame study if you like to only trade in the direction of your bias. trading any price action method will remain subjective, manage your risk, plan your trade, and trade your plan, dont lose confidence after a losing streak, and dont be overconfident after a winning streak,thats it ,nothing more nothing less.
{quote} nothing works all the time in trading , the holy grail doesnt exist , the key levels were areas in the past where market acivity(buying and selling) was around them, the FTRs around those levels become significant , they basically become decision points that may turn price in the future when price visits them first time, a key level can be a swap RS level, a quasimodo level , an ignored QM level. think of the FTRS around key levels as potential support and resistance levels , offcourse they can be broken. you may add approach PA,or reaction...
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Good points made. Trading is also very personal. As long as you find something that suits your personality and ofc a strategy with an edge, you're good to go. There's a ton of useful information on this thread that you can backtest and make a solid strategy from.
Also, what you drew are key levels according to RTM. They have a setup there where they trade FTRs at key levels.
[quote=matrix2017;14474167]GN H1 , key level and FTR in low TF , I zoom in supply day. key level of this set up difficult to judge , but I risk 7 pips. {image}[/quot
close.
nice trades ,for targets, do you take partials?, do you take off 50% at your first conservative target? and for entries do you touch trade? or you wait for confirmation entries or approach pa? and do you take trades with your directional bias or you just trade your levels irrelevant of the market direction.
I know too many questions but congratulations for the trades.
here are some of my trades today:
ReadtheMarket - Supply and Demand with Price Action
