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  • #1,101
  • Feb 27, 2024 1:44pm Feb 27, 2024 1:44pm
No good trades for me today; ended -1R.
USDJPY BE trade, took short during the Asian session, and moved to BE after 2R reached, the mistake here was that move as it then missed out on the big drop through to the London Session. I was sticking to 30min views only but saw something on 15min worth a take.

EURUSD -1R. Didn't take the trade lolxhahah took as it wasn't by definition a bullish rejection. Maybe this is where I need to look closer at 4hr lines. I also noticed we have different zones marked out for 30 mins.

Reflection for today was zones - I was using the last few days to mark out the 30m zones which created lots of zones and more noise. How far back on LTF do others go back when gauging their zones?
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  • #1,102
  • Edited 3:43pm Feb 27, 2024 3:33pm | Edited 3:43pm
Help required from Inthebox and Lolxhaha
Quoting Inthebox
gold buy {image}
Quoting lolxhaha
{quote} Still quite a way to go before closing in on 10 day ADR, if close above the highs can look for continuations

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This is the daily chart of UJ where I have added blue lines of support and resistance

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This is the 4HR chart without any adjustments

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This is the 4HR chart after I moved the blue lines to the nearest peaks and troughs

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Now this is my 30m chart without any adjustments
Question1: On your 30m and 15m charts there are always multiple lines and rectangles touching peaks and troughs but as you can that on my chart there is only 1 line, so what is the process of adding more support and resistance lines? are they supposed to be directly added to 30m charts or are they added to some other time frame?

Question2: Do you mark your support and resistance lines on a daily basis or just once over the weekend? and when you do mark them do you remove all the previous lines and start fresh?
  • #1,103
  • Feb 27, 2024 7:23pm Feb 27, 2024 7:23pm
GBPUSD Feb28

- three days narrow range Feb 23, 26 and 27.

- Daily Triple Inside Bar candles

- a breakout of the narrow range can happen any time

- better wait for London Open

Attached Image (click to enlarge)
Click to Enlarge Name: GU Feb28 m15 Daily DIB 28-2-2024 9-19-43 am.png Size: 23 KB



...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #1,104
  • Feb 27, 2024 8:44pm Feb 27, 2024 8:44pm
Quoting machiyara
Help required from Inthebox and Lolxhaha {quote} {quote} {image}
using multi time frames trading.

q2. i prefer to see a clean chart every start of day.
i use d1 and h4 in your example as my directional bias
from the time you go to your computer and open a chart, the focus is on current market price.
draw 2 lines closest to current market price, one support and one resistant in each time frame.
so now you have 4 lines.
where is price now relative to the above 4 lines that you had drawn?
clean clear chart no multi lines to clutter my view.

q1. using your m30 as entry chart.
again the focus is on current market price.
again where is price now relative to the 4 lines that you had drawn?
above? below? in the middle?
the only job now is to patiently wait for the entry set up.
whether it is a line or a box according to the eyes of the individual that bring comfort.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,105
  • Feb 27, 2024 9:22pm Feb 27, 2024 9:22pm
Quoting Islandfx911
Hi All, I am posting my no indicator intraday system for you to use as your own. I will go through the system from start to finish and when completed I will post live trades and answer any questions you have. The system is based on support and resistance of which I can use daily, 4hr, 1hr, 30m and 15m to establish a trade entry. I do not get it right everyday so no promises. All support and resistance is marked up / plotted on a line chart. {image} Lets look at some different time frames so you get the general idea. Plot horizontal lines on the...
Good sharing, and I think it will be even better if accompanied by the understanding that price movements are limited by time. For example, when you see several candlesticks arranged to form a unidirectional movement in the H4 time frame, it will have the strength to form one candle in the D1 time frame, but this still cannot guarantee that one candle in the D1 time frame will be confirmed as a bull candle or bear candle while today's market has not closed. To get an easier understanding, you only need to switch to a higher time frame to compare the achievement of the high price, low price and closing price between a candle that is currently moving and a candle that has previously formed.
  • #1,106
  • Feb 27, 2024 9:46pm Feb 27, 2024 9:46pm
Quoting tommydoginti
{quote} AUDJPY setup at Asia open. {image}
AUDUSD at Asia open.

0.649 has been a historical S/R zone upper boundary from the S/R flip since Feb19.

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  • #1,107
  • Feb 27, 2024 10:41pm Feb 27, 2024 10:41pm
Quoting tommydoginti
{quote} AUDUSD at Asia open. 0.649 has been a historical S/R zone upper boundary from the S/R flip since Feb19. {image}
Thanks for your contribution.
Your trade order needs to be in the right place at the right time.
  • #1,108
  • Feb 27, 2024 11:12pm Feb 27, 2024 11:12pm
Quoting Hanz99
No good trades for me today; ended -1R. USDJPY BE trade, took short during the Asian session, and moved to BE after 2R reached, the mistake here was that move as it then missed out on the big drop through to the London Session. I was sticking to 30min views only but saw something on 15min worth a take. EURUSD -1R. Didn't take the trade lolxhahah took as it wasn't by definition a bullish rejection. Maybe this is where I need to look closer at 4hr lines. I also noticed we have different zones marked out for 30 mins. Reflection for today was zones...
For the EU short, yes you are right that on the M30 there would have been no entry. Mine was found on the M15. As for the question of how far back on the LTF do we go back when gauging zones, no strict rules sometimes price will respect a very recent zone created hours before, sometimes price will respect a zone 3 days ago. If lets say the price is exploring a new area (i.e when you look left of the candle its very "empty", then you should keep looking back until you find something unless its at all time highs / lows. When the price is not exploring a new area, then prioritise your zone to have multiple touches, or zones has been confirmed to be s/r flips. The line chart will be your best friend for this.

p.s On your charts the text annotations are a tad too small to be read, do increase the size of them
  • #1,109
  • Feb 27, 2024 11:20pm Feb 27, 2024 11:20pm
Quoting tommydoginti
{quote} AUDUSD at Asia open. 0.649 has been a historical S/R zone upper boundary from the S/R flip since Feb19. {image}

@tommydog....

what 0.649 are you talking about

and Feb 19 did not go anywhere that 0649 level

06503 is an old Monthly SnR which goes back to May 01,2023.

I think your mobile screen is too small to see the historical data


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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #1,110
  • Feb 27, 2024 11:27pm Feb 27, 2024 11:27pm
Quoting machiyara
Help required from Inthebox and Lolxhaha {quote} {quote} {image} This is the daily chart of UJ where I have added blue lines of support and resistance {image} This is the 4HR chart without any adjustments {image} This is the 4HR chart after I moved the blue lines to the nearest peaks and troughs {image} Now this is my 30m chart without any adjustments Question1: On your 30m and 15m charts there are always multiple lines and rectangles touching peaks and troughs but as you can that on my chart there is only 1 line, so what is the process of adding...
Hi Machiyara, on top of the fantastic explanation ITB has provided on MTF and the drill down exercise, I would like to point you to post #691 as well as #697 as the questions are of a similar nature and Rob has taken the time to explain them in detail with examples.

Additionally, D1 usually does not change too much in the context of this system. But H4 charts you have to review them on a weekly basis (on weekends) and if needed (based on price movement) you may have to either adjust the lines to fit the new data coming into throughout this week, or remove and add new ones if there is significant up / down movements such that the current market price on the H4 has exceeded either your H4 support / resistance. I hope this answers your question.
  • #1,111
  • Feb 27, 2024 11:28pm Feb 27, 2024 11:28pm
Hey i think Tommy meant 0.6549
  • #1,112
  • Feb 27, 2024 11:49pm Feb 27, 2024 11:49pm
Quoting emmanuel7788
GBPUSD Feb28 - three days narrow range Feb 23, 26 and 27. - Daily Triple Inside Bar candles - a breakout of the narrow range can happen any time - better wait for London Open
Attached Image (click to enlarge)
Click to Enlarge Name: GU Feb28 m15 Daily DIB 28-2-2024 9-19-43 am.png Size: 23 KB



{image} ...

happened too early it fell from 4Hr SnR 12677 ... that is least expected ... LOL

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...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #1,113
  • Feb 27, 2024 11:58pm Feb 27, 2024 11:58pm
Quoting Inthebox
{quote} using multi time frames trading..............
Wonderful explanation. However, just wondering about the reasons not to select the pointed resistance even though they are closer to the CMP, compared to the selected resistance.

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Success = Practice + Patience + Persistence
  • #1,114
  • Feb 28, 2024 12:07am Feb 28, 2024 12:07am
UJ Feb28

- reject of Daily SnR

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #1,115
  • Feb 28, 2024 12:19am Feb 28, 2024 12:19am
Quoting craigl76
Hey i think Tommy meant 0.6549
thanks for pointing out the typo. Is 0.6549.

About the SR flip from Feb19

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  • #1,116
  • Feb 28, 2024 12:22am Feb 28, 2024 12:22am
Quoting fxpider
{quote} Wonderful explanation. However, just wondering about the reasons not to select the pointed resistance even though they are closer to the CMP, compared to the selected resistance. {image}
very close to one another.
minute difference.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,117
  • Feb 28, 2024 12:37am Feb 28, 2024 12:37am
Quoting craigl76
Hey i think Tommy meant 0.6549


... more like 0.65398

Daily swing high reversal is one of 5-Method setup on Daily

Attached Image (click to enlarge)
Click to Enlarge Name: AU Feb26 Daily swing high reversal candle closed 28-2-2024 2-34-20 pm.png Size: 13 KB




...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #1,118
  • Feb 28, 2024 12:40am Feb 28, 2024 12:40am
GU Feb28 M15 London 6am

- also a possibility @4Hr SnR 12662

Attached Image (click to enlarge)
Click to Enlarge Name: GU Feb28 M15 4Hr SNR 28-2-2024 2-39-03 pm.png Size: 24 KB



...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #1,119
  • Feb 28, 2024 12:58am Feb 28, 2024 12:58am
Quoting emmanuel7788
{quote} ... more like 0.65398 Daily swing high reversal is one of 5-Method setup on Daily {image} ...
Wrong.

read page 1 of this thread.
  • #1,120
  • Feb 28, 2024 1:06am Feb 28, 2024 1:06am
Quoting tommydoginti
{quote} Wrong. read page 1 of this thread.

Daily candles don't lie. There is the reversal ... and the Daily Inside candle breakout.

Open , High, Low and Close are there to see... that's post#1

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Click to Enlarge Name: AU Feb26 Daily swing high reversal candle closed 28-2-2024 2-34-20 pm.png Size: 13 KB


and Line chart is for you to the the Daily SnR,

your mobile is too small and to switch between candlestick and line chart is not so easy as using PC MT4.


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...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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