Waited a little over an hour and changed brick size to 6 before trading today. Got 1 good move down and another move up. I am also long ago with S/L set at +5
I don't use mt4 or mt5 and never have. I also never used a cell for trading. The settings are for std. indicators which would be on any trading platform.
8 period EMA set for the high.
8 period EMA set for the low,
Renko Box setting up to you I use 4, 5 or 6.
Heiken Ashi candles.
MACD set for 8-17-9
ADX set for 6 periods(if you want to use it.)
I don't think MT4 allows you to use a hybrid Renko/Heiken Ashi candle. But you can use plain Renko, Range Bars or time based Heiken Ashi candles.
I don't use mt4 or mt5 and never have. I also never used a cell for trading. The settings are for std. indicators which would be on any trading platform. 8 period EMA set for the high. 8 period EMA set for the low, Renko Box setting up to you I use 4, 5 or 6. Heiken Ashi candles. MACD set for 8-17-9 ADX set for 6 periods(if you want to use it.) I don't think MT4 allows you to use a hybrid Renko/Heiken Ashi candle. But you can use plain Renko, Range Bars or time based Heiken Ashi candles.
Closed out for a nice win. {image}[/quote Was there a reason why you didn’t enter a short in the area where the macd crossed around 8:27?
Ignored
There had just been a long run up 160+ ticks. Usually at that point PA will poise and drift a little bit. Then you look to continue the trend and I went long again, but nope got a small loss. Now if you look left to where the +63 trade is and you'll 2 repeating candle stick formations which happen close together. The pattern is a full candle followed by a doji followed by a small candle that ends at same height as the first candle. Draw horizontal lines and you have a zone of resistance and you'll see I didn't trade until candle broke out of the zone. This pattern mainly works with reversals(obviously not always). Plus pattern should happen in pairs rapidly. There is only 1 candle between patterns here.
As expected after big moving day yesterday, today so far is slow and on the flat side. Got a good win on a market open trade. Probably only trading 8:30 my time have a bunch of errands to run today.
{quote} There had just been a long run up 160+ ticks. Usually at that point PA will poise and drift a little bit. Then you look to continue the trend and I went long again, but nope got a small loss. Now if you look left to where the +63 trade is and you'll 2 repeating candle stick formations which happen close together. The pattern is a full candle followed by a doji followed by a small candle that ends at same height as the first candle. Draw horizontal lines and you have a zone of resistance and you'll see I didn't trade
Ignored
...
Ignored
Thank you so much for the explanation. It is valuable for me to understand price action better if I know why you didn't enter certain trades. I have experienced losses twice in these areas, so I was curious about what I should be aware of next time. This information helps me a lot.
I love this thread, it really speaks to my trading style. I thrive on the excitement of the 1 to 5 minute chart, keeping my stop losses tight at around 7 pips. However, my win rate hovers around 30% and I am constantly looking for ways to improve. My ultimate goal is to compound my trades, meaning I need to consistently hit my take profit targets 3-5 times in a row. Despite trading for over a year, achieving this has not yet been realized
I have discovered that strategies centered around price action and volatility suit me best. Mastering the combination of risk to reward and win rate is crucial for my success. For instance, I may open a trade at 0.01 lots with a 12-pip stop loss and 36-pip take profit, resulting in a 3R win. When compounding, this means I should increase the lot size to 0.03 for the next trade. However, due to my win rate being around 30%, my trades often hit the stop loss.
I love this thread, it really speaks to my trading style. I thrive on the excitement of the 1 to 5 minute chart, keeping my stop losses tight at around 7 pips. However, my win rate hovers around 30% and I am constantly looking for ways to improve. My ultimate goal is to compound my trades, meaning I need to consistently hit my take profit targets 3-5 times in a row. Despite trading for over a year, achieving this has not yet been realized I have discovered that strategies centered around price action and volatility suit me best. Mastering the combination...
Ignored
Let me suggest a solution.
1. M10 APB closed green and above MA5
2. We look at M2 - the same entry conditions in the direction of M10.
Stop for the previous candle. This trade has a risk-reward ratio of 9 to 1 This is on simple candles HA
Williams%R, SAR X-over 15 minute candles
