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  • #1,181
  • Edited 9:26am Mar 1, 2024 9:16am | Edited 9:26am
Treating the news like a session in itself, glad it didn't blow up in my face

Will exit 80% for all trades after the current candle and shift all SLs to BE.
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  • #1,182
  • Mar 1, 2024 9:35am Mar 1, 2024 9:35am
Quoting lolxhaha
Treating the news like a session in itself, glad it didn't blow up in my face Will exit 80% for all trades after the current candle and shift all SLs to BE. {image} {image} {image} {image} {image} {image}
Well Played. I squeezed so AU Longs in and took some nice profit.
Your trade order needs to be in the right place at the right time.
  • #1,183
  • Mar 1, 2024 9:53am Mar 1, 2024 9:53am
Quoting lolxhaha
Treating the news like a session in itself, glad it didn't blow up in my face Will exit 80% for all trades after the current candle and shift all SLs to BE. {image} {image} {image} {image} {image} {image}
Some of the more experienced traders probably know this but I thought it would be helpful to newer traders.

I hypothesised that news(red) could be treated like separate sessions by looking at volume of past news. Here are some screenshots on today's trade that support my hypothesis.

Although I'm not too sure how long does the "news effect" last, for simplicity sake you may treat them as a session (90mins since news).

For those on tradingview, you can hover over the candles and if your settings are not changed you should be able to see them in the top left side of your charts on the tickers with the OHLC information.

For MT4/5 users, charts by default come with a volume indicator as well. Note that indicators aren't allowed so you will not see them in future charts.

Just keep a mental note whenever you see news upcoming.
21:00/ 9pm is my local time that corresponds with the NY open for those confused.
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  • #1,184
  • Mar 1, 2024 11:54am Mar 1, 2024 11:54am
Quoting Islandfx911
Hi Traders, There were a couple of trades that you could have entered today. AJ long, a text book setup at Asian open and GJ 1hr short during Euro session. My SL for GJ is at +4 Seems that other than a few dedicated traders. This thread is getting quiet. It appears people like indicators. {image} {image} {image}
Not necessarily
I prefer to don't use any indicator and like a lot non discretionary PA strategies.
  • #1,185
  • Edited Mar 2, 2024 3:12am Mar 1, 2024 5:09pm | Edited Mar 2, 2024 3:12am
Quoting lolxhaha
Spotted a gold continuation trade and took it. If you look at the 4H chart the zone is there, but notice we did not have a bearish rejection candle, but note that H4 candles are made of multiple LTF candles. Using the H4 zone overlaid onto the H1 chart the bearish candle shows itself. If you were scanning for entries using M30/M15 zones it would have failed the rules. I thought it is a good reminder that H1 charts are also usable for entries. The LTFs are there for you to enter at the right place without a humongous SL. Thought I shared a H1 example...
Lolxhaha, this is very helpful
  • #1,186
  • Mar 1, 2024 5:37pm Mar 1, 2024 5:37pm
Hi all,

I've been following this thread since first few pages. Just registered my account and decided to start interacting with you all.

Hit SL with XAU yesterday 1st Mar. What rules I missed? Please feel free to comment.
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  • #1,187
  • Mar 1, 2024 10:17pm Mar 1, 2024 10:17pm
Quoting bigjjnem
Hi all, I've been following this thread since first few pages. Just registered my account and decided to start interacting with you all. Hit SL with XAU yesterday 1st Mar. What rules I missed? Please feel free to comment. {image}
Hi B,
I would suggest you use higher timeframe analysis to identify clear support and resistance zones.
I am not going to write to much about it as it is all in this thread.
Hope this chart helps.
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Your trade order needs to be in the right place at the right time.
  • #1,188
  • Mar 2, 2024 9:55pm Mar 2, 2024 9:55pm
Hi, I joined the forex factory because of Island formerly just a gust account. I wonderful how the system able to make a profit. Even though I just a rookie, the confident that system build to me is insane. I am continue learning. Thank you very much Island and folks. cheers
No one cares about your efforts, only the results
  • #1,189
  • Mar 3, 2024 3:34am Mar 3, 2024 3:34am
from the first 5 relevant posts of islandfx, i have made a summary from my point of view.
if you can fully digest and understand them, and then further able to apply proficiently,
then these can be yours to take to make a living out of it.

1. drawing higher time frames support resistant to map out the key levels and direction of trades.
2. wait patiently for price to arrive at the key levels during markets open / sessions.
3. wait patiently for lower time frames support resistant trade set up to align with those of higher time frames.

if you still cannot achieve the consistency of 75% winners, then you have to further
scrutinize on your own discipline, patience and consistency in following the rules to achieving success.
these nobody can help you.

of course there will be some exceptions where some traders no matter what,
still cannot spot the set ups. then you have to admit that this is not for you.
ITB - Seeing Orderliness amongst 'Randomness'
  • #1,190
  • Mar 3, 2024 5:02am Mar 3, 2024 5:02am
Where should i set my stoploss. I set it a little above the wick and it got hit. Can anybody help me with this.
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  • #1,191
  • Mar 3, 2024 5:35am Mar 3, 2024 5:35am
Quoting Fantomslayer
Where should i set my stoploss. I set it a little above the wick and it got hit. Can anybody help me with this. {image}
Hi FS,
Its a nice pullback to resistance however, I would not be trading AJ coming into the Euro Session with my system.
Your entry candle is prior to market open unless you are 100% familiar with this system
If you are taking 7.5R winners you will need to get used to be stopped out
I would go back over the thread and get your questions answered from studying it.
Trade Well
Your trade order needs to be in the right place at the right time.
  • #1,192
  • Mar 3, 2024 10:03am Mar 3, 2024 10:03am
Quoting Islandfx911
{quote} Hi FS, Its a nice pullback to resistance however, I would not be trading AJ coming into the Euro Session with my system. Your entry candle is prior to market open unless you are 100% familiar with this system If you are taking 7.5R winners you will need to get used to be stopped out I would go back over the thread and get your questions answered from studying it. Trade Well
Thank you for answering.
  • #1,193
  • Mar 3, 2024 6:36pm Mar 3, 2024 6:36pm
Quoting emmanuel7788
{quote} XAU Feb21 H4 UPDATE: - there was a pull-back and it did not reach the last H4 SnR level - is this a case of what is also known as "missed SnR" ? {image} ... {image}

XAU Mar04 week

- market broke Weekly 2075.36

- next buy target is the Monthly high 2145ish

- look for test of LTF support and resistance 4Hr and 1Hr

> Price Action is king and the only leading indicator.

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...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #1,194
  • Mar 4, 2024 12:04am Mar 4, 2024 12:04am
Dobrý den . Mohl by mi někdo poradit . Jak tímto systémem hledáte obchody na DAX a NASDAQ.
Děkuji. Beri29
  • #1,195
  • Mar 4, 2024 12:25am Mar 4, 2024 12:25am
Quoting Beri29
Dobrý den . Mohl by mi někdo poradit . Jak tímto systémem hledáte obchody na DAX a NASDAQ. Děkuji. Beri29
Přečti si vlákno a budeš vědět
Your trade order needs to be in the right place at the right time.
  • #1,196
  • Mar 4, 2024 12:39am Mar 4, 2024 12:39am
Quoting Islandfx911
{quote} Přečti si vlákno a budeš vědět
Promiňte za hloupý dotaz .
  • #1,197
  • Mar 4, 2024 12:51am Mar 4, 2024 12:51am
Quoting Islandfx911
{quote} Přečti si vlákno a budeš vědět

Quoting Beri29
{quote} Promiňte za hloupý dotaz .
żDesde cuándo se convirtió en un hilo espańol?
Success = Practice + Patience + Persistence
  • #1,198
  • Mar 4, 2024 1:23am Mar 4, 2024 1:23am
Quoting fxpider
Quoting Islandfx911 {quote} Přečti si vlákno a budeš vědět {quote} żDesde cuándo se convirtió en un hilo espańol?

it's Czech
  • #1,199
  • Mar 4, 2024 2:28am Mar 4, 2024 2:28am
Quoting fxpider
Quoting Islandfx911 {quote} Přečti si vlákno a budeš vědět {quote} żDesde cuándo se convirtió en un hilo espańol?
Ni Idea
Your trade order needs to be in the right place at the right time.
  • #1,200
  • Mar 4, 2024 2:44am Mar 4, 2024 2:44am
Hello, would this of been a valid set up please? Thankyou
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