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Price Action Trading (PAT) - Amplifying Market Insights

  • #2,121
  • Feb 15, 2024 5:22am Feb 15, 2024 5:22am
Quoting Pat Chiko
{quote} GOLD Update set up{image}
GOLD

Partial TP
Positive Stop
Attached Image (click to enlarge)
Click to Enlarge Name: gold 025.jpg Size: 203 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #2,122
  • Feb 15, 2024 5:24am Feb 15, 2024 5:24am
Quoting Pat Chiko
{quote} GU Update scalping set up {image}

GU

add position on UK GDP data release confluence to pull back to Wave B.
Target Wave C
Attached Image (click to enlarge)
Click to Enlarge Name: gu 030.jpg Size: 165 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #2,123
  • Feb 15, 2024 6:20am Feb 15, 2024 6:20am
Quoting Pat Chiko
{quote} GU add position on UK GDP data release confluence to pull back to Wave B. Target Wave C {image}
GU

End of scalping.
GBP/USD is all over the place lately, not as smooth as other pairs for trading.
As observed from Janary, Pound is jumpy every week, making it hard to trade GBP/USD compared to other currencies.

Thus, better to find other pair/ instruments to trade.
Closed scalping
Attached Image (click to enlarge)
Click to Enlarge Name: gu 031.jpg Size: 193 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #2,124
  • Feb 15, 2024 6:57am Feb 15, 2024 6:57am
Quoting Pat Chiko
{quote} GOLD Partial TP Positive Stop{image}
GOLD

End of scalping.
all out,
Waiting for SHORT set up
Attached Image (click to enlarge)
Click to Enlarge Name: gold 026.jpg Size: 178 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #2,125
  • Feb 15, 2024 9:02am Feb 15, 2024 9:02am
Quoting Pat Chiko
{quote} GOLD End of scalping. all out, Waiting for SHORT set up{image}
GOLD

Reverse trades.
Bull still accumulating position as Internal structure broken


OCO
Closed Short
Open LONG
Attached Image (click to enlarge)
Click to Enlarge Name: gold 030.jpg Size: 222 KB





Nothing recorded here is in anyway a financial advice
- This is my technical analysis for this pair.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #2,126
  • Feb 15, 2024 9:36am Feb 15, 2024 9:36am
Quoting Pat Chiko
{quote} GOLD Reverse trades. Bull still accumulating position as Internal structure broken OCO Closed Short Open LONG {image} Nothing recorded here is in anyway a financial advice - This is my technical analysis for this pair.
GOLD

Setting scalping target.
Attached Image (click to enlarge)
Click to Enlarge Name: gold 031.jpg Size: 179 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #2,127
  • Feb 15, 2024 10:22am Feb 15, 2024 10:22am
Hey bro may I know which broker you use? Thanks.
Never stop learning. Improvise, adapt, overcome.
  • #2,128
  • Feb 15, 2024 11:46am Feb 15, 2024 11:46am
Quoting Srnz7
Hey bro may I know which broker you use? Thanks.
Octafx
  • #2,129
  • Feb 15, 2024 10:28pm Feb 15, 2024 10:28pm
Quoting Pat Chiko
{quote} GOLD Setting scalping target.{image}
GOLD

Updated set up for Friday.
POI is at weekly LQ zone

Attached Image (click to enlarge)
Click to Enlarge Name: gold 032.jpg Size: 134 KB

Attached Image (click to enlarge)
Click to Enlarge Name: gold 033.jpg Size: 165 KB

Attached Image (click to enlarge)
Click to Enlarge Name: gold 034.jpg Size: 158 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #2,130
  • Feb 15, 2024 10:37pm Feb 15, 2024 10:37pm
Quoting Srnz7
Hey bro may I know which broker you use? Thanks.
I cannot promote any broker.
Then, I go to your next question & answer.

It's important to explore your options and negotiate with your broker to find terms that align with your trading goals and budget.
Yuo may negotiate term of spread, or if ECN with lower commission, or can negotiate for swap free account.
Research other regulated brokers to understand the market landscape and strengthen your negotiation position.

Discuss your desired terms with your broker and explore what alternatives they might offer.
If, after open communication and negotiation, their terms don't meet your minimum requirements, then you can consider finding another broker that aligns better with your needs.
Withdraw your money and go find another broker.

Broker are desperate for business, you make the call.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #2,131
  • Feb 15, 2024 11:21pm Feb 15, 2024 11:21pm
GJ

Mapping for scalping trades

Attached Image (click to enlarge)
Click to Enlarge Name: gj 001.jpg Size: 131 KB

Attached Image (click to enlarge)
Click to Enlarge Name: gj 002.jpg Size: 104 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #2,132
  • Feb 15, 2024 11:52pm Feb 15, 2024 11:52pm
Quoting Pat Chiko
GJ Mapping for scalping trades {image} {image}
GJ

Continue with counting
Attached Image (click to enlarge)
Click to Enlarge Name: gj 003.jpg Size: 135 KB

Attached Image (click to enlarge)
Click to Enlarge Name: gj 004.jpg Size: 157 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #2,133
  • Feb 16, 2024 5:09am Feb 16, 2024 5:09am
Quoting Pat Chiko
{quote} GOLD Updated set up for Friday. POI is at weekly LQ zone {image} {image} {image}
Hey man
It's always a pleasure to read you. frankly the short in gold H4 you have to explain to me how you understood it. I took the two long ones which seemed much lighter to me. In this period it is very easy to trade even US100 so any ideas from you would be greatly appreciated.
Good life stay well.
  • #2,134
  • Feb 16, 2024 8:11am Feb 16, 2024 8:11am
Quoting 19monza64
{quote} Hey man It's always a pleasure to read you. frankly the short in gold H4 you have to explain to me how you understood it. I took the two long ones which seemed much lighter to me. In this period it is very easy to trade even US100 so any ideas from you would be greatly appreciated. Good life stay well.

Hi Bro.

Attached chart,
We start with this first.
And I will clarify if you got question.

The thought process of getting into Gold trades.
Not possible to put everything on chart, we start with some basic first.

The short was based on few item on chart
Fib retracement
Wave Count
TL with LQ grab

Hope this helps to get you some ideas on how my thought process was.
Attached Image (click to enlarge)
Click to Enlarge Name: gold 035.jpg Size: 156 KB

Attached Image (click to enlarge)
Click to Enlarge Name: gold 036.jpg Size: 179 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #2,135
  • Feb 16, 2024 8:35am Feb 16, 2024 8:35am
Pat, I'm sorry for reposting your blog again, but I just promised someone the most valuable guideline on FF on how to approach the trading business.

The most important knowledge to be a good forex trader is to understand Support & Resistance.
If you master this, you can understand any system (with or without indicator).

Find your own method to trade, everyone trades differently.
If may find my system is not suitable for you.

Stay with one system, no system hopping. A different system every week. The rule seems to be "If you get three losing trades in a row, then your system is no good. Time to go find another one."
This is so sad because so many traders fail to recognize two things.

First, and I've said this many times on this forum, is that individual trades are meaningless.
Only a long series of trades has meaning.
It makes no difference whether an individual trade is a winner or a loser.

Second, traders fail to stay with one system long enough to allow its unique statistical edge to manifest itself, nor do they stay with one system long enough to know it inside out, forwards, and backward. I use S&R and thaat's my edge.

A system is not the Holy Grail.
A trader is not the Holy Grail.
Money management is not the Holy Grail.

A system and a trader and money management together are required to create a Holy Grail.

There is no one Holy Grail.
There are an infinite number of them.
As many as there are combinations of system-money management-trader.

There are many good systems available for free. Pick one.
There are many good money management methods for free. Pick one.
There are many bad traders. Fix one, preferably yourself.

IMHO, the reason most traders fail is that they do not correctly identify where the real problem is and take steps to fix the real problem.
From the paragraph above it should be clear that the problem is not with the system, but that's what everyone focuses on.
When one system doesn't work, they try another, and then another, and another.
Well of course changing systems isn't going to fix the problem!

"My car doesn't run. It must be the tires. Let's try some Goodyear tires.
Nope, still doesn't run. Let's try some firestone tires.
Nope, still does run." A dozen tire brands later, the car owner has lost all his money switching tires and gives up on ever being able to drive.
It never occurred to the owner to charge the battery.

Tires are systems.
The charge on the battery is the traders' mindset, emotions, persistence, and consistency.

Do you want step-by-step instructions on how to build your own personal Holy Grail? Okay, here goes:
Combine the following:
ONE system.
ONE currency.
ONE micro lot per trade (live, NOT demo)
ONE trader (that would be you)

Begin trading. After 20 trades, if you haven't made a profit.
Then look at what is wrong with the trader and fix it.
Leave the system, currency, and micro lot per trade alone.
THEY ARE NOT BROKEN, SO DON'T FIX THEM.

After making adjustments to the trader, complete another 20 trades.
Repeat this cycle until the trader is fixed.
Once the trader is running properly, then and ONLY THEN may you try a different system or currency or position size.

It is not the system.
It is you.
Quit focusing on the system and do exactly what you've done here.
Honest, painful self-evaluation.

And yes, go ahead and have a pity party and make statements that you know perfectly well are false about trading.
Do all this. Get it out of your system. Vent.

Despair, depression, defeat, and a profound sense of total worthlessness? You are the poster child!

Got ONE-ONE-ONE as above and with great care and fifty tons of discipline,
See how you can grow the account.
By that time, you will regain confidence.
You have to "fix" yourself by eliminating your problem of using high leverage.

Anyone can fix themselves.
I still find broken parts of my trader self, and when I identify them, I fix them. I don't muck with my system and I don't muck with my money management. I fix the problem where it lies. Inside me, the trader.

Pat CHIKO.
Always trade your own plan...I don't provide trading signals.
  • #2,136
  • Feb 16, 2024 8:48am Feb 16, 2024 8:48am
Hey Pat and CoreG

Very nice thread and appreciate all posts! Here is a trade that I took that unfortunately ended up in a loss.

What can i improve? Most of my trades look like this, I look at movement, liquidity sweeps, volume, and continuations after a sweep, but im not even profitable..

Thanks alot guys! Appreciate it once again.
Attached Image (click to enlarge)
Click to Enlarge Name: FFFFF.PNG Size: 16 KB
  • #2,137
  • Feb 16, 2024 9:09am Feb 16, 2024 9:09am
Quoting dinpappa
Hey Pat and CoreG Very nice thread and appreciate all posts! Here is a trade that I took that unfortunately ended up in a loss. What can i improve? Most of my trades look like this, I look at movement, liquidity sweeps, volume, and continuations after a sweep, but im not even profitable.. Thanks alot guys! Appreciate it once again. {image}
Wait for the close in D1 volume gap (ICT concept you can see that last week in Nasdaq) and wait for go short
My 2 cents.
Good luck
  • #2,138
  • Feb 16, 2024 9:11am Feb 16, 2024 9:11am
Quoting Pat Chiko
{quote} Hi Bro. Attached chart, We start with this first. And I will clarify if you got question. The thought process of getting into Gold trades. Not possible to put everything on chart, we start with some basic first. The short was based on few item on chart Fib retracement Wave Count TL with LQ grab Hope this helps to get you some ideas on how my thought process was. {image} {image}
Thank man.
Your explanation are simple but perfect as always
  • #2,139
  • Feb 16, 2024 10:29am Feb 16, 2024 10:29am
Quoting dinpappa
Hey Pat and CoreG Very nice thread and appreciate all posts! Here is a trade that I took that unfortunately ended up in a loss. What can i improve? Most of my trades look like this, I look at movement, liquidity sweeps, volume, and continuations after a sweep, but im not even profitable.. Thanks alot guys! Appreciate it once again. {image}
dinpappa, before earnings the stock was in the downtrend on the 4H chart. The stock gapped down (read about gaps and understand why it appears) big after earnings. This alone should tell you the big players' perception changed about stock performance in the near future (at least). Possible counter-trend trade at the crossover of cyan TL for the second leg- BC move, (read about the measured move). At C point I would look for the reason for short trade-continuation- (trigger, what is telling me that advanced to the upside will be stopped?). The second short entry at the recross of the maroon TL. Target at prior low after earnings, min. or 127.2% extension of 0C move.
Attached Image (click to enlarge)
Click to Enlarge Name: 2024-02-16-ATSG_CHARTS.png2.png Size: 43 KB
Always trade your own plan...I don't provide trading signals.
  • #2,140
  • Feb 17, 2024 8:35am Feb 17, 2024 8:35am
Quoting Pat Chiko
GJ Mapping for scalping trades {image} {image}
Well, you did not share your trades, so I hope you dont mind me sharing my view on where the orders should be placed.

H1 chart: price broke Daily, Weekly highs.

Attached Image (click to enlarge)
Click to Enlarge Name: 1 GBPJPYH1.png Size: 12 KB


We look for orders on M30 timeframe.

First order should be placed here:

Attached Image (click to enlarge)
Click to Enlarge Name: 2 GBPJPYM30.png Size: 13 KB



Second order should be placed here:

Attached Image (click to enlarge)
Click to Enlarge Name: 3 GBPJPYM30.png Size: 13 KB
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