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USDCAD Aug09

- News day trading
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M15 Daily SnR

- Previous day OHLC has confluence with historical Daily SnR
- plus also H4 SnR and the RN level,

- I'll be looking for 1Hr and/or 4Hr setups for the higher probability trades with small SL and RR1to5.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
USDCAD Aug09 - News day trading {image} M15 Daily SnR - Previous day OHLC has confluence with historical Daily SnR - plus also H4 SnR and the RN level, - I'll be looking for 1Hr and/or 4Hr setups for the higher probability trades with small SL and RR1to5. {image}
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USDCAD Aug 09

- M15 with M30 Close

- 7 pips SL is good for taking some risk

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
{quote} USDCAD Aug 09 - M15 with M30 Close - 7 pips SL is good for taking some risk {image} ... {image}

USDCAD Aug 09

- 123 confirmation of a possible down leg

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Closed the trade for +3,2R because high-impact news are coming.

Also, I decided to stop posting because I feel an emotional pressure to win so I could post my results here. I want to be detached emotionally from FX as much as possible to avoid hype and disappointment. See you all some time later. Wish you luck everyone, I'll keep checking out this thread!
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Hi, I really like your system as it is really simple and it has a clean chart, breathe of a fresh air. I mean this in no disrespect but if u dont mind, may i ask how is your strategy worked out for you so far? How much % have u made each month?, thank you for your time.
Loving this thread. Thank you for sharing Island and thank you Emmanuel7788, IntheBox, lolxhaha and Evaldas321 for your clarifications and examples.

Will start using this method Monday onwards :-)
Hi Guys

Would welcome your thoughts on my understanding of some charts for Asian open about 11am AEST 12/08/24.
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AUDUSD - So we have an uptrend bias. Where I have placed the arrow we have a rejection candle on support @0.65682 which follows from an impulse move 4 candles earlier (1hour). So we trade next candle after arrow.


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EURUSD - So we have a downtrend bias. At 1.66 (blue line) we have support. There is an impulse move down but the up candle below my first down arrow has no rejection wick. So no trade at the moment. There is then an impulse move through the next level of support @1.6573. The second arrow shows our entry point once we confirm bull candle with rejection wick.

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AUDCAD - Up bias. At first arrow @0.90198 support (0930 AEST) we have a decent entry but it is pre-market so not sure if valid entry for this system. We get another possible setup at second arrow which is correct time market open but no clear rejection of support @0.90198 so no trade.

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AUDJPY - Up bias. Trade at arrow after bear candle with rejection wick.

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EURJPY - - Up bias. Trade at arrow after bear candle with rejection wick. In this case I would have been stopped out.

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GBPAUD- down bias. Would like to have entered at arrow but no rejection wick. Previous rejection wick an hour earlier was before market open.


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AUDCAD - Up bias. Would have liked to enter at arrow but previous bear candle has small wick and quite far away from support @0.90195.
AU Aug12 M30 Frankfurt Open hour

- likely setup at Weekly SnR

- but I need to see a 1Hr or a 4Hr price action

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
AU Aug12 M30 Frankfurt Open hour - likely setup at Weekly SnR - but I need to see a 1Hr or a 4Hr price action {image} ...

AU Aug12 M15 London Open 1Hr

- a 6 pips SL can be good attempt

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting shertiger
Hi Guys Would welcome your thoughts on my understanding of some charts for Asian open about 11am AEST 12/08/24. {image} AUDUSD - So we have an uptrend bias. Where I have placed the arrow we have a rejection candle on support @0.65682 which follows from an impulse move 4 candles earlier (1hour). So we trade next candle after arrow. {image} EURUSD - So we have a downtrend bias. At 1.66 (blue line) we have support. There is an impulse move down but the up candle below my first down arrow has no rejection wick. So no trade at the moment. There is then...
Hi Shertiger,
This is the trade you needed to be on today. Use your line chart for peak / trough clarification.
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Your trade order needs to be in the right place at the right time.
Thanks for confirming. Will take a look now to see if any viable setups and post results later.
Missed a setup a couple of days ago when I was away from the computer. So far today (oz time) haven't seen setups on AUDUSD, GBPAUD, USDCHF, EURUSD, EURGBP and EURJPY. Will check at London open.
watch whether closes above level during europe open
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ITB - Seeing Orderliness amongst 'Randomness'
GU Aug15 M30 London 9am

- Daily Inside Bar

- looking for possible rejection candle 1Hr and 4Hr setup

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Daily
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US data later at 1:30PM London


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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
GU Aug15 M30 London 9am - Daily Inside Bar - looking for possible rejection candle 1Hr and 4Hr setup {image} Daily {image} US data later at 1:30PM London {image} ...

GU Aug15 review with hindsight,

- 'big news' move the market


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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
{quote} GU Aug15 review with hindsight, - 'big news' move the market {image} ...
The price wipe out the news like really look like a strong base fundamental.
Quoting Inthebox
watch whether closes above level during europe open {image}
results
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ITB - Seeing Orderliness amongst 'Randomness'
continuation to long.
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ITB - Seeing Orderliness amongst 'Randomness'
My understanding is that you dont draw S/R lines on the timeframe that your executing your trade?
i.e. you trade at the zones drawn from the higher time frame.
Do you also add other S/R lines that you see on lower time frames i.e. from daily to 4hr you see other S/R lines on 4hr which aren't too clear on the daily?

Thanks
I was in a -14R losing streak and this trade has broken that streak.
+3.5R for the day
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