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  • #1,201
  • Edited 3:22am Mar 4, 2024 3:00am | Edited 3:22am
Quoting Mellifluous
Hello, would this of been a valid set up please? Thankyou {image} {image}
I would sit out or look at other pairs for better opportunities, reasoning annotated on my provided screenshot. A very short or no wick when the candle closes suggests strong price movement in the direction (bull or bear). The subsequent candle could carry that same momentum in that direction. The wick is proof that at one point in that timeframe the price went there but ultimately closed below/ above that price, hence the "rejection".

A candle that does not have a noticeable wick or none is just "bullish / bearish rejection" if you catch my point. "Thrust" candles are just a term Rob gave to these candles with little to no wicks, because of a lack of "rejection". You can refer to post #87, #93, #94 where a similar question regarding candle selection was answered by Rob on post #94.
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  • #1,202
  • Mar 4, 2024 3:13am Mar 4, 2024 3:13am
Quoting lolxhaha
{quote} I would sit out or look at other pairs for better opportunities, reasoning annotated on my provided screenshot {image}
Beautiful, thank you so much
  • #1,203
  • Mar 4, 2024 4:23am Mar 4, 2024 4:23am
USD CHF London open. A big 1-2-3. +4R
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  • #1,204
  • Mar 4, 2024 5:57am Mar 4, 2024 5:57am
Quoting Evaldas321
USD CHF London open. A big 1-2-3. +4R {image} {image}
Well done! Good trade but I just wanted to clear your misconception of the 1-2-3, it is correct in the sense that there is a 1-2-3 present just that the numbering is slightly incorrect.

(1) refers to an impulse, which in your chart would have been the bullish move origin all the way till the recent swing high

(2) is the pullback from the recent swing high to where your entry candle is

(3) is the supposed continuation of the (1) impulse move which begins with the subsequent candle when your entry candle closed

so how does the correct 1-2-3 look like?

in your chart you just need to replace where it was stated 2 with 1 and 3 with 2. All other numbers can be removed 3 is at where your entry candle would be.

This does not take away anything from a good trade which you entered, I just wanted to clear up the misconception in case others who saw your chart may become confused or pick up on the misconception
  • #1,205
  • Mar 4, 2024 6:05am Mar 4, 2024 6:05am
Quoting lolxhaha
{quote} Well done! Good trade but I just wanted to clear your misconception of the 1-2-3, it is correct in the sense that there is a 1-2-3 present just that the numbering is slightly incorrect. (1) refers to an impulse, which in your chart would have been the bullish move origin all the way till the recent swing high (2) is the pullback from the recent swing high to where your entry candle is (3) is the supposed continuation of the (1) impulse move which begins with the subsequent candle when your entry candle closed so how does the correct 1-2-3...
Okay, thanks for your note! Will have that in mind
  • #1,206
  • Mar 4, 2024 6:57am Mar 4, 2024 6:57am
Used Friday last week to re-read the thread - it helped having tried this for a few days to add context to comments made.
Took AU trade at the start of the Asain session and closed during London for 3R.

It felt like an advanced trade with price spiking above 4hr SR (orange line) and hitting resistance just above it from Friday - however reflected Rob's comments about the price rising pre-market to fill the order to then drop and example from trading pre-market open. I am not sure that 4HR SR is correctly placed, would welcome any thoughts on that (2nd screenshot)
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  • #1,207
  • Edited 7:30am Mar 4, 2024 7:11am | Edited 7:30am
Long EURUSD NY session

Update: Stopped out
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  • #1,208
  • Mar 4, 2024 7:17am Mar 4, 2024 7:17am
Quoting emmanuel7788
{quote} 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. {image} ...
I cant 't see an obvious move materialising so tight sit this one out. 4HR zoom looks tight following Friday spike - think I'm looking to hard for something that might not be there.

Wonder if the below 123 might play out through NY session.
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  • #1,209
  • Mar 4, 2024 7:27am Mar 4, 2024 7:27am
Long | EUR/AUD | Session - L |
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  • #1,210
  • Edited 8:52am Mar 4, 2024 8:32am | Edited 8:52am
Quoting lolxhaha
Long EURUSD NY session Update: Stopped out {image} {image}
Spotted a re-entry candle on the M15 after initial long got stopped. Price hit 4R which I exited 80% of my position to cover my first entry and then some while leaving the rest to run at BE, target is the initial target of the first entry.

Update: Runner hit TP target @ 12R.

There is a very fine line between a valid re-entry vs revenge trading.
If you are looking for re-entries after your first trade has been stop hunted, do note the following:

- re-entries should still follow the system rules
- wait for clear indication that your first entry (direction is going in your favour, PA will be your confirmation for this)

If you are not sure of the market direction, it is better to stay out and let the market play out. Being stopped out and then having the trade go in your direction is a good loss in my opinion. Because this is a problem which you can fix that is within your control.

If you have find yourself often re-entering trades, it might be a sign that your SLs have been consistently too tight/ shifting SLs too early. You will only be able to notice if you have been journaling your trades.

Treat the root cause (fix your SL setting) and not the symptoms with band-aids (often re-entering).
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  • #1,211
  • Mar 4, 2024 9:04am Mar 4, 2024 9:04am
I reread the entire thread during the weekend and rewrote my step-by-step plan to avoid uncertain and bad trades. I am now limiting myself to 2 trades per session max. That way I choose my trades more carefully and I only place trades when everything seems perfect, not just fine.

I am done for today. I had 4 trades over EU and NY sessions: -1R, +4R, +3R, and +7R. There was a high chance that GBPUSD will reach 26800 level, so I thought I'll go BE and see what happens. As with EURJPY, I thought the price may hit the red S/R at least once more, so I didn't want to place TP above it, which led to 3R. I hope I'll experience more days like this with this stricter approach.
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  • #1,212
  • Mar 4, 2024 9:51am Mar 4, 2024 9:51am
Quoting Evaldas321
I reread the entire thread during the weekend and rewrote my step-by-step plan to avoid uncertain and bad trades. I am now limiting myself to 2 trades per session max. That way I choose my trades more carefully and I only place trades when everything seems perfect, not just fine. I am done for today. I had 4 trades over EU and NY sessions: -1R, +4R, +3R, and +7R. There was a high chance that GBPUSD will reach 26800 level, so I thought I'll go BE and see what happens. As with EURJPY, I thought the price may hit the red S/R at least once more, so...
Well done! Sometimes less is truly more
  • #1,213
  • Edited 10:18am Mar 4, 2024 10:05am | Edited 10:18am
Quoting Mellifluous
Hello, would this of been a valid set up please? Thankyou {image} {image}
if you were looking for a sell, there was no valid m30 sell set up.
you were using a h4 and m30 combo.
you had drawn a h4 resistant but the m30 did not form any 123 sell during london open.
your 123 was very far apart. your point 1 was from 2 days ago.
your focus should be watching whether the current market price form a 123 during market open.

same thing for new york open.
see the 123 is current for entry time frame, not formed far far away from the past.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,214
  • Mar 4, 2024 10:30am Mar 4, 2024 10:30am
Quoting Hanz99
Used Friday last week to re-read the thread - it helped having tried this for a few days to add context to comments made. Took AU trade at the start of the Asain session and closed during London for 3R. It felt like an advanced trade with price spiking above 4hr SR (orange line) and hitting resistance just above it from Friday - however reflected Rob's comments about the price rising pre-market to fill the order to then drop and example from trading pre-market open. I am not sure that 4HR SR is correctly placed, would welcome any thoughts on that...
Response annotated on the chart attached.

"Rob's comments about the price rising pre-market to fill the order to then drop and example from trading pre-market open."

This might have been taken out of context. It is important to note what the market is doing before the market open. "Big players need to manipulate prices in order to fill big orders" This is true, and zones tend to be a fairly good area that provides liquidity, but prices does not always hit a zone and bounce in the opposite direction during the open.

As you can see the move (sell-off) already happened before the market open, so the open is just a continuation of that sell-off with volume.
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  • #1,215
  • Mar 4, 2024 10:39am Mar 4, 2024 10:39am
gu h4 resistant.
h4 m15 combo.
just watch patiently whether there is a valid m15 current market price sell set up or not.
be aware that we are outside of market open.
please do not trade, just observe.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,216
  • Mar 4, 2024 10:58am Mar 4, 2024 10:58am
Quoting lolxhaha
{quote} Response annotated on the chart attached. "Rob's comments about the price rising pre-market to fill the order to then drop and example from trading pre-market open." This might have been taken out of context. It is important to note what the market is doing before the market open. "Big players need to manipulate prices in order to fill big orders" This is true, and zones tend to be a fairly good area that provides liquidity, but prices does not always hit a zone and bounce in the opposite direction during the open. As you can see the move...
Thanks Lolxhaha - thought it was probably a more advanced trade for my level.

the bottom chart isnt an indicator, its the line chart of above, i used the file Rob shared in post #874.
  • #1,217
  • Mar 4, 2024 11:52am Mar 4, 2024 11:52am
Quoting Hanz99
{quote} Thanks Lolxhaha - thought it was probably a more advanced trade for my level. the bottom chart isnt an indicator, its the line chart of above, i used the file Rob shared in post #874.

Ahhh, i saw the SMA and instantly thought of it as an indicator. Just saw the period (1)
  • #1,218
  • Mar 4, 2024 5:59pm Mar 4, 2024 5:59pm
Quoting Evaldas321
I reread the entire thread during the weekend and rewrote my step-by-step plan to avoid uncertain and bad trades. I am now limiting myself to 2 trades per session max. That way I choose my trades more carefully and I only place trades when everything seems perfect, not just fine. I am done for today. I had 4 trades over EU and NY sessions: -1R, +4R, +3R, and +7R. There was a high chance that GBPUSD will reach 26800 level, so I thought I'll go BE and see what happens. As with EURJPY, I thought the price may hit the red S/R at least once more, so...
Hi Evaldas,
Your trades and positive approach have shown what is possible with this system.
A huge well done.
Your trade order needs to be in the right place at the right time.
  • #1,219
  • Mar 4, 2024 9:01pm Mar 4, 2024 9:01pm
Quoting Inthebox
gu h4 resistant. h4 m15 combo. just watch patiently whether there is a valid m15 current market price sell set up or not. be aware that we are outside of market open. please do not trade, just observe. {image}
the result
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,220
  • Mar 5, 2024 12:28am Mar 5, 2024 12:28am
Quoting Inthebox
{quote} the result {image}
update
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ITB - Seeing Orderliness amongst 'Randomness'
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