There’s been lots of winners lately but remember that the strike rate is somewhere in the area of 40-60% which means we’re due for some losers. To be successful traders , we have to accept these losses and understand it’s inevitable. However if you stick with the plan you will be profitable. Always keep your RR 1:3 and you’ll see results
If I am wrong, you can correct me.
Since the fractal happens in bullish candle which means lower fractal happened first and then top fractal.
So, NFT happened at bullish side. And if you take most recent low and high fractal then price is in premium zone which means it is a sell setup.
My understanding could be wrong,please let me know how it turned out.
{quote} I understand that, while I was backtesting I entered a trade keeping in mind 1:3 RR and spread. The trade ran for 3 days without hitting TP and went to as far 2.43 RR, then reverses in a major news day,hit my SL and run on to hit the original TP. I am newbie trying to find out what should to do in that scenario. Should I close the trade after it clears the whole internal liquidity if it runs more than 2 days. Should I close the trade before major news day? This scenario doesn’t happen everyday I know but it’s a unique situation could happen...
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Maybe this is a discretionary method you can add to your system. There’s no right or wrong, make the system as profitable as it can be for you. We can all learn
{quote} If I am wrong, you can correct me. Since the fractal happens in bullish candle which means lower fractal happened first and then top fractal. So, NFT happened at bullish side. And if you take most recent low and high fractal then price is in premium zone which means it is a sell setup. My understanding could be wrong,please let me know how it turned out.
Once again for clarification.. on H4 if you have follow through and move your range to the new appropriate high/low.. and then.. time goes on and your range never gets interacted with but a new h4 fractal pops up , maybe on the candle that created the follow through, you don’t restart, continue to use that follow through. Only once the external range is interacted with do you restart looking for new follow throughs.
this is why sometimes you can have 2.3,4 15M setups within the same range
{quote} If I am wrong, you can correct me. Since the fractal happens in bullish candle which means lower fractal happened first and then top fractal. So, NFT happened at bullish side. And if you take most recent low and high fractal then price is in premium zone which means it is a sell setup. My understanding could be wrong,please let me know how it turned out.
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My range was the previous fractal high and low (as demarcated by the red dotted line). Therefore, the NFT candle is new and has made a sweep at the range's low.
Thank you very much for previous explanation. I was shortsighted there.
In his June trade video the author took 5 trades.2 trend trades,3 counter trend trades.
1st one : 4H FT, discount zone, long trade
2nd one : 4H FT,premium zone,short trade
3rd one : 4H SFT, premium zone,long trade
4th one : 4H SFT, premium zone, short trade, counter trend trade
5th one : 4H SFT, premium zone, short trade, counter trend trade
Interestingly the 4th and 5th trade made it profitable.
I don’t have explanation for 4th and 5th since it were in a SFT bias.
Hope to get some explanation from @FireScape.
Thank you very much for previous explanation. I was shortsighted there. In his June trade video the author took 5 trades.2 trend trades,3 counter trend trades. 1st one : 4H FT, discount zone, long trade 2nd one : 4H FT,premium zone,short trade 3rd one : 4H SFT, premium zone,long trade 4th one : 4H SFT, premium zone, short trade, counter trend trade 5th one : 4H SFT, premium zone, short trade, counter trend trade Interestingly the 4th and 5th trade made it profitable. I don’t have explanation for 4th and 5th since it were in a SFT bias. Hope to get...
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counter trend is an advanced methodology you can use when you are very comfortable with normal system
Essentially when you have let’s say for example a NFT to the upside (bearish bias), but price drops all the way back into discount..you can actually buy back into premium, because we’re assuming price will come back to premium
{quote} counter trend is an advanced methodology you can use when you Lee very comfortable with normal system Essentially when you have let’s say for example a NFT to the upside (bearish bias), but price drops all the way back into discount..you can actually buy back into premium, because we’re assuming price will come back to premium
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Thank you. I understand if it is NFT you can take counter trend trade in discount/premium.
But,if it is SFT you take trend trade as per explanation.
I attached images. In the box he took 1 trend trade and 2 counter trade even though it is SFT bias.
Sorry to bugging you again.
