DislikedLet me try to explain the logic behind entry after a false breakout. let us analyse the trade i am in now. {image} After a nice uptrend, there is a breakdown (price trading below TE 51 according to our criteria). When price reached support area (aqua horizontal line), the buyers tried to push it up 3 times. The price went above the TE 51 for brief moment but fell again. The sellers were absorbing all these buyers and not letting the price to go up. The price finally broke the support when fresh and strong sellers entered the market. That is our...Ignored
- #582
- Edited 4:02am Jul 17, 2024 3:38am | Edited 4:02am
- Joined Feb 2019 | Status: Trader | 1,019 Posts
{quote} If you want to trade on M15 (and M5 or M1), it is recommande to follow the trend in higher timeframes (H1, H4, Daily, etc...). All this higher timeframes trend must be in the same direction. Open only buy signal in M15 if all timeframes (H1, H4, Daily, etc...) are up and vice versa.
- #583
- Jul 17, 2024 3:43am Jul 17, 2024 3:43am
- Joined Feb 2019 | Status: Trader | 1,019 Posts
{quote} you enter your trade below the 50 level is this okay it should be supposed to enter short rsioma must above 50 level?
Let me try to explain the logic behind entry after a false breakout. let us analyse the trade i am in now. {image} After a nice uptrend, there is a breakdown (price trading below TE 51 according to our criteria). When price reached support area (aqua horizontal line), the buyers tried to push it up 3 times. The price went above the TE 51 for brief moment but fell again. The sellers were absorbing all these buyers and not letting the price to go up.( area between two blue vertical lines) The price finally broke the support when fresh and strong sellers...
- #586
- Jul 17, 2024 4:09am Jul 17, 2024 4:09am
- Joined Feb 2019 | Status: Trader | 1,019 Posts
A failed breakdown possible in AUDUSD.
Worth to keep eye on.
Worth to keep eye on.
- #588
- Jul 17, 2024 8:41am Jul 17, 2024 8:41am
- Joined Feb 2019 | Status: Trader | 1,019 Posts
A followup of USDCHF trade
got both targets easily.
got both targets easily.
- #589
- Jul 17, 2024 8:43am Jul 17, 2024 8:43am
- Joined Feb 2019 | Status: Trader | 1,019 Posts
{quote} Thankyou so much !! whats your exit/TP strategy/
Book profit at R:R 1:1 or more .
Second lot with deep target/ trail/ opposite APB candle.
Go through the documents in first post.
- #592
- Jul 17, 2024 9:47am Jul 17, 2024 9:47am
- Joined Feb 2019 | Status: Trader | 1,019 Posts
A failed breakdown possible in AUDUSD. {image} Worth to keep eye on.
1) It is important / mandatory to let the candle close.
2) will you take a short trade here? Looks like first pullback and continuation pattern on main chart.
yes/no ?
The answer is here https://www.forexfactory.com/thread/...8#post14934208
- #596
- Jul 17, 2024 10:21am Jul 17, 2024 10:21am
- Joined Feb 2019 | Status: Trader | 1,019 Posts
Hi Walvekarraje, Thank you so much for sharing such a great trading system. It's incredibly generous of you to share for free what looks like a successful system I am still learning this strategy and started using it on a small live account. I started trading your system on 10th July and I share a screenshot of my results so far. I need to learn to be patient and ride the profitable moves and not close out too early. Thanks again and God Bless you. {image}
{quote} The failed breakdown did not workout as expected. But the entry was not triggered. {image} 1) It is important / mandatory to let the candle close. 2) will you take a short trade here? Looks like first pullback and continuation pattern on main chart. yes/no ? The answer is here https://www.forexfactory.com/thread/...8#post14934208
- #598
- Jul 17, 2024 10:47am Jul 17, 2024 10:47am
- Joined Feb 2019 | Status: Trader | 1,019 Posts
Let me take this opportunity to explain the diffrence between flag trades and failed breakout trades. The same chart of USDCHF i profited today.
Notice the flag long entries in the uptrend. Valid and profitable trades obviously. Notice the APB candles after the flag. They are small but bullish.
The reason is, there should be a strong buyer to move the price up and pumping money in. The stoploss orders of sellers can take the price up but not forever.
In the failed breakout, the amount/number of trapped buyers is huge. once the support is broken, the SL orders will push the price down irrespective of any strong sellers. The momentum of SL orders will push the price down in long bearish move.
The system is based on sound logic and understanding of price action and still fine tuned for a newbee to trade without understanding the logic behind it.
Hope you understand.
Notice the flag long entries in the uptrend. Valid and profitable trades obviously. Notice the APB candles after the flag. They are small but bullish.
The reason is, there should be a strong buyer to move the price up and pumping money in. The stoploss orders of sellers can take the price up but not forever.
In the failed breakout, the amount/number of trapped buyers is huge. once the support is broken, the SL orders will push the price down irrespective of any strong sellers. The momentum of SL orders will push the price down in long bearish move.
The system is based on sound logic and understanding of price action and still fine tuned for a newbee to trade without understanding the logic behind it.
Hope you understand.
- #599
- Jul 17, 2024 10:50am Jul 17, 2024 10:50am
- Joined Feb 2019 | Status: Trader | 1,019 Posts
{quote} Thank you Doctor for this wonderful system, I was actually waiting for sell audusd possibly it may happen 2 am tonight. I'm Watching
- #600
- Jul 17, 2024 10:51am Jul 17, 2024 10:51am
- Joined Feb 2019 | Status: Trader | 1,019 Posts
{quote} Thank you Doctor for this wonderful system, I was actually waiting for sell audusd possibly it may happen 2 am tonight. I'm Watching