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  • #21
  • Edited 12:33pm Mar 14, 2024 11:16am | Edited 12:33pm
John a suggestion - you need an option in the indi to auto delete the FVG once it's been mitigated.
  • #22
  • Mar 14, 2024 11:49am Mar 14, 2024 11:49am
Quoting handy148
Juhn a suggestion - you need an option in the indi to auto delete the FVG once it's been mitigated.
Thanks H for the suggestion will look into it. I tend to use the FVG Button only which does remove blocked FVGs. The multi FVG is just an add on at prsent to see if confluence of FVG from different timeframes adds any value.
  • #23
  • Mar 14, 2024 11:54am Mar 14, 2024 11:54am
Quoting handy148
{quote} Yes we all have days like that
Yip, not enough sleep! So went Oliver Velez and added a 20 / 200 sma as training wheels
  • #24
  • Mar 15, 2024 6:44am Mar 15, 2024 6:44am
Trades today so far as busy:

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Trade going up is a buy stop entered by accident and cancelled. trade not taken.
  • #25
  • Mar 15, 2024 6:54am Mar 15, 2024 6:54am
Quoting Ronin-
Trades today so far as busy: {image} Trade going up is a buy stop entered by accident and cancelled. trade not taken.
hi mr ronin, may i know indicator name as i highlight on chart
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  • #26
  • Mar 15, 2024 7:02am Mar 15, 2024 7:02am
Next trades:

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  • #27
  • Mar 15, 2024 7:03am Mar 15, 2024 7:03am
Quoting fxdragon
{quote} hi mr ronin, may i know indicator name as i highlight on chart {image}
Hi fxdragon, thanks for the interest.

The indicator is one of my support and resistance indicators. I'm just sorting out the code and will share.
  • #28
  • Edited 8:22am Mar 15, 2024 7:05am | Edited 8:22am
This is a tease of Method 2:

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Ced74 and Kraneos (https://www.forexfactory.com/kraneos)will like this one.

TMA Channel for direction
SR Direction indicator for direction and trade entry (above / below SR Direction indicator horizontal lines)
Zigzag 25% to see if HL or LH in the direction of overall trend. This zigzag has lines that are 25% from the high and low and can used for trade entry instead of using SR Direction.
Look for HL of the SR Direction Indicator & ZigZag in the uptrend and LH in the down trend.
Another option for entry is my modified Donchian Channel (blue channel lines on chart), not shared yet. As we all know zigzag, SR Direction and TMA will repaint.
We have options, so we can all test and see what works best.
  • #29
  • Mar 15, 2024 7:14am Mar 15, 2024 7:14am
For Method 1, in the process of testing a few indicators to make the method easier.

Will provide update if they work out.
  • #30
  • Edited 8:12am Mar 15, 2024 7:40am | Edited 8:12am
Next set of trades:

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Not quite to the rules on this occassion could see the bears.

Back to rules for next trades
  • #31
  • Mar 15, 2024 7:58am Mar 15, 2024 7:58am
This is an example of where I have doubts about entering a trade:

Price has been in an up trend for awhile. There is a nice bounce off the last blue FVG. But price in general appears to be moving down with a couple of lower highs. So short term direction for the 2 pip trades is not clear. As there is doubt, wait for the next set up.

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  • #32
  • Mar 15, 2024 8:27am Mar 15, 2024 8:27am
Ok price decided we are going down:

Waited for another red FVG to confirm move and enough room before running into blue FVGs below. Have enough information / story to enter trades. Need to be patient and let the trade come to us.

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  • #33
  • Mar 15, 2024 8:37am Mar 15, 2024 8:37am
Done for the day. Got my +40 pips, no losses.

Have a great weekend everyone.
  • #34
  • Mar 15, 2024 8:45am Mar 15, 2024 8:45am
Quoting Ronin-
This is an example of where I have doubts about entering a trade: Price has been in an up trend for awhile. There is a nice bounce off the last blue FVG. But price in general appears to be moving down with a couple of lower highs. So short term direction for the 2 pip trades is not clear. As there is doubt, wait for the next set up. {image}
This is an example of where I have doubts about entering a trade

One suggestion would be to use a momentum oscillator (RSI for example) and look for divergence.
  • #35
  • Edited 7:10pm Mar 15, 2024 5:35pm | Edited 7:10pm
Why multiple trades & small take profit?

Answer: Probability and risk.

The probability of achieving 1-3 pip take profit has the highest probability (taking into account spread). If there is high confidence in the setup and can see price is trying to reach a level TP can be moved accordingly (like in post 13). Look at https://www.forexfactory.com/thread/1267765-unstoppable for example; 1-2 pips every time.

The risk is managed by using a small lot size (based on account balance) and the number of trades entered. The number of trades depends on confidence of the setup. Low confidence equals one trade and close quickly if not working out (cut trade short, there will always be another trade setup). High confidence equals multiple trades and patience. Obviously this is my opinion, takes a lot of practice and others will disagree. Each to their own.
  • #36
  • Mar 15, 2024 8:30pm Mar 15, 2024 8:30pm
Quoting Ronin-
Done for the day. Got my +40 pips, no losses. Have a great weekend everyone.
Well done Ronin...Consistency is Paramount.

R
Ronnie Renko
  • #37
  • Mar 16, 2024 3:02pm Mar 16, 2024 3:02pm
Quoting Ced74
{quote} Well done Ronin...Consistency is Paramount. R
Agree and Thank you. Still have a long way to go. Lets see what happens next week.
  • #38
  • Edited 8:36pm Mar 16, 2024 8:04pm | Edited 8:36pm
FVG Rejection zip file updated. Now version 1_2.

 

  1. Includes addition of Support and Resistance Horizontal Indicator 1_1 as requested by fxdragon.
  2. Template updated: FVG Button & Multifvg position changed due to different screen sizes.
  3. See post 1 for updated zip file.

  • #39
  • Mar 17, 2024 12:55am Mar 17, 2024 12:55am
Quoting Ronin-
FVG Rejection zip file updated. Now version 1_2. Includes addition of Support and Resistance Horizontal Indicator 1_1 as requested by fxdragon. Template updated: FVG Button & Multifvg position changed due to different screen sizes. See post 1 for updated zip file.
thank you mr ronin
  • #40
  • Edited 6:06pm Mar 17, 2024 5:44pm | Edited 6:06pm
Entered trade 2 hrs before market close; good setup but not sure why. Never a good idea on a Friday as market volume became minimal and spread huge.
Luckily gained positive swap over weekend and got out of trades in profit (+5.6 pips).

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Could have left the trade longer....... but need sleep.

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