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  • #861
  • Feb 15, 2024 8:59am Feb 15, 2024 8:59am
if at all, i would have only taken this buy signal at GU today after IM (impulsemove).

however, i would have rather waited for a better price, close to the pink buy zone.
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trading is like dancing, don't think and just listen to the music!
  • #862
  • Feb 15, 2024 9:29am Feb 15, 2024 9:29am
Quoting Genkat
EUR/USD {image}
can you explain your entry?
i do no see a retest of a bullish 123 break to the upside.
instead i saw a retest of a bearish 123 break to the downside.
ITB - Seeing Orderliness amongst 'Randomness'
  • #863
  • Feb 15, 2024 11:10am Feb 15, 2024 11:10am
Was this a valid entry? The H4 lines appear to be more prominent than the M30 lines, so it seems like I'll stick to them as I'm still learning the ropes. Whenever the M30 lines are drawn, there is always a question regarding which line price will react to.
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  • #864
  • Feb 15, 2024 11:32am Feb 15, 2024 11:32am
Quoting Inthebox
{quote} can you explain your entry?
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  • #865
  • Edited 12:28pm Feb 15, 2024 11:56am | Edited 12:28pm
Quoting Genkat
{quote}{image}
why not sell?
we have to know that the trade we take is a A+ trade.
because many others are also learning.
whether it is the right thing to learn or not.
but trading on a single horizontal line without careful analysis can be a 50/50 chance of winning and losing.
it can be buy and it can also be a sell as shown in the m1 chart.
it is correct that this is a buy zone. why?
the answer can be found in the first 22 posts.
do we have the eagle eyes to pick out the 3 points to note before placing of trades?
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ITB - Seeing Orderliness amongst 'Randomness'
  • #866
  • Feb 15, 2024 2:40pm Feb 15, 2024 2:40pm
Quoting birdland
if at all, i would have only taken this buy signal at GU today after IM (impulsemove). however, i would have rather waited for a better price, close to the pink buy zone. {image}
Hello Birdland,
How did you get the line chart over your candlesticks please?
Thank you
  • #867
  • Feb 15, 2024 3:26pm Feb 15, 2024 3:26pm
Quoting birdland
if at all, i would have only taken this buy signal at GU today after IM (impulsemove). however, i would have rather waited for a better price, close to the pink buy zone. {image}
Previous sell zones (drawn in red) can become buy zones (drawn in blue) as it was respected on the movement down, I have annotated over your original chart which could have provided a sharper entry if we entered on the subsequent bearish rejection over the one you marked with the blue upward arrow than your original box in purple . Do keep in mind that we dislike pinbars/ hammers because the SL needed to trade them are usually large as the wick is further away from the zone.
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  • #868
  • Feb 15, 2024 6:45pm Feb 15, 2024 6:45pm
Quoting Mellifluous
{quote} Hello Birdland, How did you get the line chart over your candlesticks please? Thank you

Line chart is Simple Moving Average Peridod(1) applied to the Close price.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #869
  • Feb 15, 2024 7:10pm Feb 15, 2024 7:10pm
Quoting lolxhaha
{quote} Previous sell zones (drawn in red) can become buy zones (drawn in blue) as it was respected on the movement down, I have annotated over your original chart which could have provided a sharper entry if we entered on the subsequent bearish rejection over the one you marked with the blue upward arrow than your original box in purple . Do keep in mind that we dislike pinbars/ hammers because the SL needed to trade them are usually large as the wick is further away from the zone. {image}
Hi Lolxhaha,

Happy belated Chinese New Year.

From his previous posts and charts, Island also uses Limit Order when wick is >10 pips. But in this case it would be same outcome as your analysis, the entry would be at 2nd candle.

Quoting Islandfx911
{quote} Hi T, Thanks for the advice. I use limit orders if the wick creates a SL > 10 Pts as 10 Pts is my max SL size. All other orders I enter at market. I am planning on just trading the Asian session from now on so I only spend 1.5hrs trading a day. I may look into alerts as it could work for me. Thanks again for your consideration Regards Rob
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  • #870
  • Feb 15, 2024 7:44pm Feb 15, 2024 7:44pm
Quoting tommydoginti
{quote} Hi Lolxhaha, Happy belated Chinese New Year. From his previous posts and charts, Island also uses Limit Order when wick is >10 pips. But in this case it would be same outcome as your analysis, the entry would be at 2nd candle. {quote} {image}

@tommydog....

You limit your view to those charts posted and what you see ...

You should look at your own independent charts. This way you will see the Daily and H4 SnR levels much clearer and the storyline. After he two previous day 4Hr impulse candle move down, what do you see on your chart zoom out further .

If there is no trade setup that fits the method taught by Islandfx911 then simply there is not trade.

No matter how much hindsight after-the-fact analysis will do you any good in learning this method.

Other trading methods may show up possible setup ... for example Rob Smith' 2-1-3-2 is a price Action setup and you wont need a 10pips SL. You will still get a -1R SL and +5R profit
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #871
  • Feb 15, 2024 9:28pm Feb 15, 2024 9:28pm
How do you approach trading at resistance levels? I recently took a trade and positioned the stop loss just below the latest H4 support level. Now, I am closely monitoring the progress of the trade and eagerly observing its reaction to the support and resistance levels.
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  • #872
  • Edited 10:13pm Feb 15, 2024 10:03pm | Edited 10:13pm
Quoting ProfitStream
How do you approach trading at resistance levels? I recently took a trade and positioned the stop loss just below the latest H4 support level. Now, I am closely monitoring the progress of the trade and eagerly observing its reaction to the support and resistance levels. {image}
refer
https://www.forexfactory.com/thread/...0#post14667890
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ITB - Seeing Orderliness amongst 'Randomness'
  • #873
  • Feb 15, 2024 10:42pm Feb 15, 2024 10:42pm
Quoting emmanuel7788
{quote} Line chart is Simple Moving Average Peridod(1) applied to the Close price.
An interesting visual can be produced by using the 1 MA ... if you have the indicator MA In Color by FXSniper and Robert Hill
Use it for your Line Chart 1 MA as mentioned above and set its 3 different colors.
  • #874
  • Feb 15, 2024 11:08pm Feb 15, 2024 11:08pm
Hi Traders,
End of the week, I hope some of you got some winners and especially some 7.5R's.
Here is a display option using separate window for line chart.
Have a good weekend.
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Attached File(s)
File Type: ex4 Moving Averages_SeparateWindow.ex4   17 KB | 557 downloads
Your trade order needs to be in the right place at the right time.
  • #875
  • Edited 1:19am Feb 16, 2024 1:06am | Edited 1:19am
Quoting Islandfx911
Hi Traders, End of the week, I hope some of you got some winners and especially some 7.5R's. Here is a display option using separate window for line chart. Have a good weekend. {image} {file}

hi Rob

Good to see your post.

I have closed many trades but none of them 7.5R. Only a few average ~3.8R overall +9.9%.

On you chart, I I start with Daily SnR, then 4H Snr, and H1 Snr,
I see your setup was near where the most recent 4Hr Snr and H1 SnR were,

the question is which candle is the rejection candle.
I think most people here have problem with the rejection candle concept.


Attached Image (click to enlarge)
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...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #876
  • Feb 16, 2024 1:18am Feb 16, 2024 1:18am
Quoting Lou
{quote} An interesting visual can be produced by using the 1 MA ... if you have the indicator MA In Color by FXSniper and Robert Hill Use it for your Line Chart 1 MA as mentioned above and set its 3 different colors.
for more than 30 years ago I learned to trade the line chart but tehn I only trade the Daily charts.

slowly things evolve with more timeframes and swing levels SnR
Monthly is Violet
Weekly is Orange
Daily is Red
H4 is Green
H1 is Blue

and then years later came Rob Smith' jargon with candlesticks and I tried blending all these when I read my charts.... my head is like a 'spinning top' ...

and on lower timeframe like this M15 below, I see the Daily, H4 and H1 swing level SnR, while the Weekly Snr are farther away.

Attached Image (click to enlarge)
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...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #877
  • Feb 16, 2024 1:32am Feb 16, 2024 1:32am
Quoting emmanuel7788
{quote} for more than 30 years ago I learned to trade the line chart but tehn I only trade the Daily charts. slowly things evolve with more timeframes and swing levels SnR Monthly is Violet Weekly is Orange Daily is Red H4 is Green H1 is Blue and then years later came Rob Smith' jargon with candlesticks and I tried blending all these when I read my charts.... my head is like a 'spinning top' ... and on lower timeframe like this M15 below, I see the Daily, H4 and H1 swing level SnR, while the Weekly Snr are farther away. {image} ...
i like it very much, this is an important part of my intraday approach;-) thx emmanuel for this good input



by the way, i would like to recommend the profit factor to everyone here.

with this you can check the robustness of your system or trading regardless of the percentages, loss days and R:R.

i would say roughly everything above two is very good and you are on the right track in the long term. above 3 is sensational;-)
trading is like dancing, don't think and just listen to the music!
  • #878
  • Feb 16, 2024 1:50am Feb 16, 2024 1:50am
London Session opens in about 15 minutes, have spotted a potential entry for Gold. One that has alignment across HTFs -> LTFs. Will not be jumping the gun and only enter upon candle close.
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  • #879
  • Feb 16, 2024 2:02am Feb 16, 2024 2:02am
GU Feb16 H1 London open

- I see the FO candle is a pull-back and rejection of 4H and Daily SnR

- buy I would rather wait now

Attached Image (click to enlarge)
Click to Enlarge Name: GU Feb16 London Open H1 reject 16-2-2024 4-00-14 pm.png Size: 26 KB



...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #880
  • Feb 16, 2024 2:23am Feb 16, 2024 2:23am
Quoting lolxhaha
London Session opens in about 15 minutes, have spotted a potential entry for Gold. One that has alignment across HTFs -> LTFs. Will not be jumping the gun and only enter upon candle close. {image} {image} {image} {image}
good observation
ITB - Seeing Orderliness amongst 'Randomness'
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