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  • #981
  • Feb 21, 2024 12:46am Feb 21, 2024 12:46am
now from new york open and after.
to be more down to earth and pragmatic, we look at each of the time frame from h4 down, each telling their own story.
depending on how skill the traders are, there are still money to be made or break even.
however when asia open, price went up until the frankfurt open.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #982
  • Feb 21, 2024 1:26am Feb 21, 2024 1:26am
what do you think? workable?
get that 1% per day equity return and go do what is important in your life.
whether it's 15 pips or 20 pips. need not stretch so long to 50 pips and staring at screen.
you can set up another account for h4 set and forget swing trades for that.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #983
  • Feb 21, 2024 1:54am Feb 21, 2024 1:54am
Quoting Inthebox
what do you think? workable? get that 1% per day equity return and go do what is important in your life. whether it's 15 pips or 20 pips. need not stretch so long to 50 pips and staring at screen. you can set up another account for h4 set and forget swing trades for that. {image}
so depending on you, this drop was about 17/18 pips.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #984
  • Feb 21, 2024 2:13am Feb 21, 2024 2:13am
just to show that i walked my talk.
target hit for the day. going to park to take a walk.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #985
  • Feb 21, 2024 3:27am Feb 21, 2024 3:27am
Exited at +4R
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Your trade order needs to be in the right place at the right time.
  • #986
  • Feb 21, 2024 6:30am Feb 21, 2024 6:30am
Still gettin use to it how r these?
E/u



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A/U
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G/U
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U/J
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G/J
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A/J
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entry is red arrow & im guessing cant enter all some at same time on chart.
Also question once we have a break retrace is that level still for later ie next day??
  • #987
  • Feb 21, 2024 7:27am Feb 21, 2024 7:27am
Quoting turnip15
{quote} Here we go. Hope this helps. 4 hour and 5 minute. (Left out in between for clarity) See how the levels condense around the US Open 5 minute chart I say US open as a figure of speech - The USA has a Bank Holiday today {image} {image}
Did it help you?
every Saint has a past. Every Sinner has a Future
  • #988
  • Edited 1:11pm Feb 21, 2024 9:07am | Edited 1:11pm
Quoting Islandfx911
Exited at +4R {image} {image}
Good morning/afternoon/evening traders,

Ran Rob's short back during the NY session, resistance zone test (double top). Was aiming for 7.5R but I closed 80% at 5R, remaining SL shifted to +1R.

Hopefully this answers this question:
"Also question once we have a break retrace is that level still for later ie next day??".

Another trade I took was EJ I wasn't sure which direction the open would give us, looking at before the open. So I waited for the open and the market gave us the direction after two candles. I hopped on the train at the next stop. Not the best RR given the larger SL but we still secured our minimum of 2.3R, exited 90% of the trade and shifted the SL to BE. Took more partials because we are heading into a potential triple top resistance.

Update: Exited GU runner @ 8.5R, EJ @ 4.5R
Update 2: Max travel (MT) for both pairs were (GU: 11.55R, EJ: 7.57)
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  • #989
  • Feb 21, 2024 10:23am Feb 21, 2024 10:23am
Hi, recently stumbled across this thread (been following Emmanuel7788 on another thread). Was mainly an equities trader but a recent injury has left me with more time to reflect.
Read through from the start to recent posts and took the plunge today. The first trade went well with a 1.5R, second stopped out. Charts below from EURUSD (sticking to one whilst I learn). Was my mistake on the 2nd shorting on the pinbar candle? My reasoning for entry was the long wick rejecting the zone(2nd candle, green box)

30m chart below. Colour boxes are the 90-minute windows from sessions opening. Orange lines are 4hr SR.
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  • #990
  • Feb 21, 2024 11:30am Feb 21, 2024 11:30am
Quoting Hanz99
Hi, recently stumbled across this thread (been following Emmanuel7788 on another thread). Was mainly an equities trader but a recent injury has left me with more time to reflect. Read through from the start to recent posts and took the plunge today. The first trade went well with a 1.5R, second stopped out. Charts below from EURUSD (sticking to one whilst I learn). Was my mistake on the 2nd shorting on the pinbar candle? My reasoning for entry was the long wick rejecting the zone(2nd candle, green box) 30m chart below. Colour boxes are the 90-minute...
you missed out including d1 resistant in your zone.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #991
  • Feb 21, 2024 11:36am Feb 21, 2024 11:36am
I've been absolutely loving the past few days since I started following this strategy and diving into the posts from other members - it's been a blast! I can't believe how much my trades have improved since then.
  • #992
  • Feb 21, 2024 12:54pm Feb 21, 2024 12:54pm
[quote=Inthebox;14764434]{quote} you missed out including d1 resistant in your zone. {image} {image}[/quote

Ahhh got it thanks, was blind to that looking too much into the 30min charts. So should the right move have been wait for the 1D zone as it was close and then focus on on the 30min driven zones when there was more distance?
  • #993
  • Edited 1:35pm Feb 21, 2024 12:58pm | Edited 1:35pm
Quoting Hanz99
Hi, recently stumbled across this thread (been following Emmanuel7788 on another thread). Was mainly an equities trader but a recent injury has left me with more time to reflect. Read through from the start to recent posts and took the plunge today. The first trade went well with a 1.5R, second stopped out. Charts below from EURUSD (sticking to one whilst I learn). Was my mistake on the 2nd shorting on the pinbar candle? My reasoning for entry was the long wick rejecting the zone(2nd candle, green box) 30m chart below. Colour boxes are the 90-minute...
I have marked out zones which i would have drawn if your chart was what I saw during each of the respective sessions.

A few pointers to note:

  1. Zones are drawn from the wicks to the candle body (see post #27/ post #83 as examples for both S/R zones)
  2. If you have difficulties identifying the peaks/troughs/spikes, they usually become clearer when you switch the chart type from candlesticks to line.

As to your doubts on trade entries, nothing wrong with the first, it was the one Rob posted but I struggle for the following:

(1) see how your zone in cyan was drawn (which candles did you pick, specifically)
(2) given how "squished" your chart was, I wasn't able to identify the correct candles/wicks that would have led to your first entry

The first trade looks similar to the one from post #77 of this thread, if you need an example (note the similarities in how the zone was identified in the M5 candlestick chart, not the candles)

For your line chart, may I suggest you drag along the price line (y-axis of your charts) to make the peaks/troughs/spikes more apparent?

Regarding your second entry based on the resistance zone I had drawn and used for the first entry, I wouldn't take it because of the following reason:

  1. Candle body have invalidated the zone, with it going over and closing above zone drawn for the first entry


I believe you took the trade because of the cyan zone you drew, which incidentally was also the zone you used to take your first trade. This brings me back to the pointers I stated above for the first entry.

The mistake for the second entry was not due to the pinbar candle (in red, that is a bearish candle, not a bullish rejection candle), but because of the zones (middle cyan) being drawn incorrectly. Additionally, we would not take the trade if the candle body closed within the zone, it has to be below for a resistance zone (as per system rules).

As you can see from the first entry, there isn't obvious reverse direction movement prior to each of the sessions open candle (no obvious gradual push of prices up prior to session open in order to sell it), instead it is a continuation of direction that occurred prior to the entry. Echo-ing what Rob has mentioned, take the trade based off the signals the market provide in accordance to the rules. Not always will you get a strong pullback into the previous S/R levels right before the session open, and sometimes you even get the move happening before it, the sessions just provides additional volume to push it up/down.

Good attempt for trying your hand at applying the system shared with trades of your own, keep trying with focus and discipline and you will soon reap the rewards

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  • #994
  • Feb 21, 2024 1:36pm Feb 21, 2024 1:36pm
This correct?
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  • #995
  • Edited 2:22pm Feb 21, 2024 1:48pm | Edited 2:22pm
Quoting majidmas
This correct? {image}
Zone (yellow box) is largely correct, however do take note that it is drawn from wicks to candle body (if the zone was drawn from HTFs, do adjust them on LTF or draw a secondary zone)

Entry candle is a bullish rejection candle (setup valid), but I would not enter into the trade for the following reasons:

1) While the candle is not a pin bar, the wick has quite a distance from the zone (SL too big, poor RR)
2) The wick of the bullish rejection candle did not go beyond the upper boundary of the zone (yellow box).
3) If we treat the red news (FOMC) like a market session, the opening candle was a very very bullish one with strong volume. Note that the opening candle usually marks the direction of the session, as such I would prefer looking for a bullish continuation, rather than a bearish continuation.
4) The zone you marked as potential resistance has not been tested (no double/triple tops)

If I was looking for a bearish continuation I will wait for more candles to show until I get one that is:
1) Closer to the potential resistance zone
2) The wick of the bullish rejection candle goes beyond the upper boundary of the zone (yellow box).

Of course, the following has to also adhere to system rules:
1) entering only on candle close from respective timeframes
2) trade taken during open to 90m of open
3) All other rules as already mentioned before
  • #996
  • Feb 21, 2024 1:56pm Feb 21, 2024 1:56pm
Quoting majidmas
This correct? {image}
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ITB - Seeing Orderliness amongst 'Randomness'
  • #997
  • Feb 21, 2024 2:24pm Feb 21, 2024 2:24pm
Quoting lolxhaha
{quote} Zone (yellow box) is largely correct, however do take note that it is drawn from wicks to candle body (if the zone was drawn from HTFs, do adjust them on LTF or draw a secondary zone) Entry candle is a bullish rejection candle (setup valid), but I would not enter into the trade for the following reasons: 1) While the candle is not a pin bar, the wick has quite a distance from the zone (SL too big, poor RR) 2) The wick of the bullish rejection candle did not go beyond the upper boundary of the zone (yellow box). 3) If we treat the red news...
Market has done what we'd like it to do, wait for candle close before entering on long
Yellow zones are M15, red zones are M30. I overlayed them on the same chart.
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  • #998
  • Feb 21, 2024 2:42pm Feb 21, 2024 2:42pm
Quoting Inthebox
{quote} {image}
I took the train at the next station. SL a bit further than I liked
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  • #999
  • Feb 21, 2024 7:55pm Feb 21, 2024 7:55pm
Quoting lolxhaha
{quote} I took the train at the next station. SL a bit further than I liked {image}
if you find that the m15 SL too big, after the m15 bullish candle closed that broke the resistant
switch to smaller time frame m5 to reduce SL.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,000
  • Edited Feb 22, 2024 2:12am Feb 21, 2024 9:43pm | Edited Feb 22, 2024 2:12am
Quoting Inthebox
{quote} {image}
check out the reactions at those levels.

with updates.
the frankfurt and london open finally blasted the previous day and week high.
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ITB - Seeing Orderliness amongst 'Randomness'
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