No Indicator Trading System | Page 58 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

AUD/JPY, EUR/JPY, AUD/USD

Similar Threads

Please suggest a simple & effective Method/System of "Trading System" Forum to newbie 182 replies

HYBRID: trading system within a trading system 31 replies

WatchMyZone trading system - WMZ system 7 replies

Day Trading system - Simple system to make money 51 replies

Trapping System: Way to Fully-Automated Trading System 47 replies

Attachments: No Indicator Trading System
Exit Attachments

No Indicator Trading System

  • #1,141
  • Feb 28, 2024 7:27pm Feb 28, 2024 7:27pm
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}
AUDUSD Asia opening hour.

Attached Image (click to enlarge)
Click to Enlarge Name: F15010D7-A10C-4314-B36C-5A52CD900AC0.jpeg Size: 650 KB
  • #1,142
  • Feb 28, 2024 7:56pm Feb 28, 2024 7:56pm
Quoting Islandfx911
{quote} Very helpful charts Em. Thanks for continually posting.

I will contribute from trading @eelfranz ' 5-Method without indicator and adding your rejection candle and R-concept.

AU Feb 29

- I start the trading day with my Daily chart and knowing the market type conditions and recent swing level

- then on my trading timeframe during the first 3 - 4 hours of the Syndey-Tokyo open, I look for trade opportunity with small Stop Loss

Daily Line chart

Attached Image (click to enlarge)
Click to Enlarge Name: AU Feb29 Daily'Line 29-2-2024 9-47-34 am.png Size: 24 KB



Daily candlestick chart

- note the Daily range candle high-low
- yesterday broke the low
- price stopped at Daily SnR

- note today open GAP down ... trade 'fill-the-gap' belief ...

Attached Image (click to enlarge)
Click to Enlarge Name: AU Feb29 Daily CS 29-2-2024 9-48-04 am.png Size: 21 KB



M15

- today M15 rejection candle at Daily SnR

- +7R profit

Attached Image (click to enlarge)
Click to Enlarge Name: AU Feb29 m15 reject od Daily SnR 29-2-2024 9-49-41 am.png Size: 19 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #1,143
  • Feb 28, 2024 8:04pm Feb 28, 2024 8:04pm
Quoting tommydoginti
{quote} AUDUSD Asia opening hour. {image}

@tommydog....

- you should follow the OP' post#1

- start the day with Daily support and resistance with Daily Line chart


Daily Line chart SnR

Attached Image (click to enlarge)
Click to Enlarge Name: AU Feb29 Daily'Line 29-2-2024 9-47-34 am.png Size: 24 KB


then next, move down to the 4H and do the same,

- note how close the 4Hr SnR to the Daily SnR

Attached Image (click to enlarge)
Click to Enlarge Name: AU Feb29 4H SnR 29-2-2024 10-02-59 am.png Size: 21 KB


next zoom down to the 1Hr
- this exercise you need to continue work on your own
- no spoon-feeding here



...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #1,144
  • Feb 28, 2024 8:17pm Feb 28, 2024 8:17pm
Hi Traders,
Took 5R on GJ at minor support level. 7.5R reached for those holding longer.
This was a tough to spot for the beginner.
Attached Image (click to enlarge)
Click to Enlarge Name: GJ 29 02 2024.png Size: 16 KB


4hr Chart
Attached Image (click to enlarge)
Click to Enlarge Name: GJ 29 02 2024 4hr .png Size: 18 KB
Your trade order needs to be in the right place at the right time.
  • #1,145
  • Feb 28, 2024 8:22pm Feb 28, 2024 8:22pm
Damn the JPY X'S are falling like rocks
  • #1,146
  • Feb 28, 2024 8:23pm Feb 28, 2024 8:23pm
Quoting craigl76
Damn the JPY X'S are falling like rocks
Sure are
Your trade order needs to be in the right place at the right time.
  • #1,147
  • Feb 28, 2024 8:27pm Feb 28, 2024 8:27pm
Quoting craigl76
Damn the JPY X'S are falling like rocks

you missed the news ... what these two gentlemen spoke on ... and created the rejection candle


Attached Image (click to enlarge)
Click to Enlarge Name: Ueda and Suzki.png Size: 179 KB

M30 rejection candle closed the 1Hr candle ...

Attached Image (click to enlarge)
Click to Enlarge Name: UJ Feb29 M30 rejct candle 29-2-2024 10-16-04 am.png Size: 24 KB



...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #1,148
  • Feb 28, 2024 8:56pm Feb 28, 2024 8:56pm
Quoting Mellifluous
{quote} Hi Lolxhaha, I hope you dont mind me asking, but where was the 123 for this one please? Thanks

I have annotated over the line charts. Note the re-entry was only spot-able on the M15
Attached Image(s) (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 27 KB
Click to Enlarge Name: screenshot.png Size: 28 KB
  • #1,149
  • Feb 28, 2024 9:46pm Feb 28, 2024 9:46pm
Quoting Hanz99
Not a great day my side down -2R. EURUSD Took a short on US session from what seemed a bullish rejection but stopped out few candles later for -1R. GBPUSD Took a short at London open which hit 2R. Short in the US session hit SL. Net +1R AUDUSD Took two long trades on bearish rejection candles during US and London, both hit SL. Net -2R I'm not quite sure what to make of today, was confident in my levels, perhaps I am forcing trades looking for that first 7R. Don't think I can accurately call the 123s either still. {image} {image} {image}
Both the EURUSD and GBPUSD are correlated, notice how the line charts are very similar. Take note of the key levels on your MTF and HTF.

I like your trade in the second chart, it was a good trade. I suppose your TP was somewhere around the key level you marked out in orange. If you took partials around the key area you should be in a good position (if you set your SLs properly, it should have easily netted you +3R). Perhaps you can look into how you placed your SL. Shifting BE to +2R is alright but before you do that do take some partials first.

For the AUDUSD, the NY session opened with the price sandwiched between the ADR on top and the key level below. If you look the market open till 90minutes into the session, the NY session was trying to bounce off the London lows to go up but was quickly rejected at the ADR. I would be wary of entering trades where the market is not sure of which direction to go.

Do include your ticker names, I could tell the last was AUDUSD but between your first two charts i couldn't really tell which was GU and which was EU since they are very similar
  • #1,150
  • Feb 29, 2024 12:51am Feb 29, 2024 12:51am
Quoting Hanz99
Not a great day my side down -2R. EURUSD Took a short on US session from what seemed a bullish rejection but stopped out few candles later for -1R. GBPUSD Took a short at London open which hit 2R. Short in the US session hit SL. Net +1R AUDUSD Took two long trades on bearish rejection candles during US and London, both hit SL. Net -2R I'm not quite sure what to make of today, was confident in my levels, perhaps I am forcing trades looking for that first 7R. Don't think I can accurately call the 123s either still. {image} {image} {image}

hi @Hanz99

with hindsight I can write long story with your charts.

what is important is what you see at the start of your trading day.

remember we are day trading... so start with the same process in post #1.

EU Daily Feb29

- Daily has not clear direction, it can continue to chop up and down
> do you want to pick top and bottom?

- I see the big range candle and most recent Daily SnR level

Daily Candlestick chart
Attached Image (click to enlarge)
Click to Enlarge Name: EU Feb29 Daily SnR 29-2-2024 2-41-35 pm.png Size: 21 KB


Daily Line chart

Attached Image (click to enlarge)
Click to Enlarge Name: EU Feb29 Daily Line chart 29-2-2024 2-42-01 pm.png Size: 22 KB

4Hr

- green lines are 4Hr SnR

- H4 is not trending and is in consolidation big candle and smaller candles...

Attached Image (click to enlarge)
Click to Enlarge Name: EU Feb29 H4 CS SnR 29-2-2024 2-43-49 pm.png Size: 19 KB




M30 trading chart for setup candles,

Attached Image (click to enlarge)
Click to Enlarge Name: EU feb29 M30 waiting 29-2-2024 2-44-27 pm.png Size: 20 KB


> anything can happen today
> the most dangerous hours are the Frankfurt Open and London Open , then the Tokyo Close hour...
> most fakeys are during these hours.
>


...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #1,151
  • Feb 29, 2024 1:54am Feb 29, 2024 1:54am
GU Feb29 M30 London 7:50am

- wait for the push then a pull-back for a possible 123

- may or may not happen during this 4hour window

Attached Image (click to enlarge)
Click to Enlarge Name: GU Feb29 m3029-2-2024 3-50-23 pm.png Size: 22 KB

...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #1,152
  • Feb 29, 2024 1:58am Feb 29, 2024 1:58am
Quoting lolxhaha
{quote} I have annotated over the line charts. Note the re-entry was only spot-able on the M15 {image} {image}
Beautiful, thank you
  • #1,153
  • Feb 29, 2024 2:15am Feb 29, 2024 2:15am
123 patterns do not always look like textbook pictures ...


Attached Image (click to enlarge)
Click to Enlarge Name: 1-2-3 patterns.png Size: 30 KB




...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #1,154
  • Feb 29, 2024 2:18am Feb 29, 2024 2:18am
dare to do it or not. that is the question.
be thick skinned, whether win or lose.
choose your targets drawn above current market price.
let's do the forward observation without tons of hindsight.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 24 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #1,155
  • Feb 29, 2024 2:23am Feb 29, 2024 2:23am
This was a very clear trade to take. Took 50% partials at 3.5R.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 26 KB
Click to Enlarge Name: screenshot.png Size: 29 KB
  • #1,156
  • Feb 29, 2024 4:16am Feb 29, 2024 4:16am
Anyone wanna share swing trading strategy that works? Do you mix with news? Hoping to get some hints...backtesting is a lot of work.
Teerex
  • #1,157
  • Feb 29, 2024 4:35am Feb 29, 2024 4:35am
Quoting Godisawoman
Anyone wanna share swing trading strategy that works? Do you mix with news? Hoping to get some hints...backtesting is a lot of work.
Hi G,
There is a winning system here, you just need to learn it like so many others have.
The are no free tickets and I find it insulting that you have come to this thread expecting to be given a profitable system without you putting any effort in.
Let me know when you have read all the posts and when you start asking the right questions you will get help.
Your trade order needs to be in the right place at the right time.
  • #1,158
  • Feb 29, 2024 5:07am Feb 29, 2024 5:07am
Quoting Islandfx911
{quote} Hi G, There is a winning system here, you just need to learn it like so many others have. The are no free tickets and I find it insulting that you have come to this thread expecting to be given a profitable system without you putting any effort in. Let me know when you have read all the posts and when you start asking the right questions you will get help.
Excuse me? There are so many threads with so many posts. I'm not expecting to be given anything I asked a simple question. You could have simply said there a sys tem here that works...we don't do swing trading here. I already have a system that works I'm not looking for a free ticket. Just doing research.
Teerex
  • #1,159
  • Feb 29, 2024 5:42am Feb 29, 2024 5:42am
Quoting Islandfx911
{quote} Hi G, There is a winning system here, you just need to learn it like so many others have. The are no free tickets and I find it insulting that you have come to this thread expecting to be given a profitable system without you putting any effort in. Let me know when you have read all the posts and when you start asking the right questions you will get help.
I just read your thread from the beginning. Sorry my bad. I see it from your point of view now
Teerex
  • #1,160
  • Feb 29, 2024 6:17am Feb 29, 2024 6:17am
Quoting emmanuel7788
{quote} hi @Hanz99 with hindsight I can write long story with your charts. what is important is what you see at the start of your trading day. remember we are day trading... so start with the same process in post #1. EU Daily Feb29 - Daily has not clear direction, it can continue to chop up and down > do you want to pick top and bottom? - I see the big range candle and most recent Daily SnR level Daily Candlestick chart {image} Daily Line chart {image} 4Hr - green lines are 4Hr SnR - H4 is not trending and is in consolidation big candle and smaller...

EU Feb29 M30 123

- I waited too long for this to show

- because the H4 is sideways with that big candle this need at minimum a H1 confirmation

Attached Image (click to enlarge)
Click to Enlarge Name: EU Feb29 m30 123 H1 completion 29-2-2024 8-06-33 pm.png Size: 46 KB



...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
14 traders viewing now