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No Indicator Trading System

EG Long Demo, was too late for entry, price has moved way too much already to enter.
With a Red wick at 4 pips, Target is 30 pips
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audusd

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EJ Short 7.5R from base of wick, but due to Spread, a bit less.

I think this will do as examples of where my trading mindset is situated at these early stages.
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Quoting SolidRockk
EJ Short 7.5R from base of wick, but due to Spread, a bit less. I think this will do as examples of where my trading mindset is situated at these early stages. {image} {image}
dangerous to short as it had recently bounced up from daily support.
even the h4 resistant is a distant away.
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ITB - Seeing Orderliness amongst 'Randomness'
Quoting Inthebox
{quote} dangerous to short as it had recently bounced up from daily support. even the h4 resistant is a distant away. {image} {image}
Thank you for your advice ITB.

When looking at my Daily chart, is the way in which I set one of my SR zones incorrect, or do we pay more heed to a more recent SR zone?
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Quoting SolidRockk
{quote} Thank you for your advice ITB. When looking at my Daily chart, is the way in which I set one of my SR zones incorrect, or do we pay more heed to a more recent SR zone? {image}
it is the most recent one to the current market price.
however sometimes there is none to be found, then look at the historical one or at other higher time frames.
ITB - Seeing Orderliness amongst 'Randomness'
[quote=SolidRockk;15115333]

AC Long 7.5R from base of Red bar, but due to Spread and time of entry its a bit smaller RR

Trade review: TP hit. I feel the entry bar was identified properly, late entry and will improve upon this as we go.

RR was not the same as 7.R as I am trying to deal with my head in the Spread taking me out with pullbacks in the past couple of weeks, and then the trade hitting the TP. 29.2 : 13.5 = 2.16R
**edit**, entry price with wick pips at entry to the high & not including the Spread in setting SL or TP was 9R
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Just checking please.

a 1 pip wick is invalid for an entry?
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Quoting SolidRockk
EG Long Demo, was too late for entry, price has moved way too much already to enter. With a Red wick at 4 pips, Target is 30 pips {image} {image}
TP+30 hit = 7.5R if not including Spread for buffer of 1R
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Quoting SolidRockk
EJ Short 7.5R from base of wick, but due to Spread, a bit less. I think this will do as examples of where my trading mindset is situated at these early stages. {image} {image}
Review:

SL hit. ITB posted as to why the trade was not in an ideal place & has clarified where my SR zone was incorrectly applied in this trade.
-1R + Spread
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EA Long
Retest of SR with a Rejection
wick is 8 pips = R
R x 7.5R = 60 as target.
Spread is around 4.5 pips so added to SL it is set to -12.5
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Quoting SolidRockk
{quote} TP+30 hit = 7.5R if not including Spread for buffer of 1R {image} {image}
Hi SR,
Well done on posting your trades. You are utilizing the line chart / SnR / Candle charts as they should be used.
In regards to how much wick on a rejection bar should be, I like to see 2 pips as a minimum and 10 pips as a maximum.
AU trades I use a 2 or 3 pip SL and for example GJ would be a 10 pip SL. Being in mind I pay commission on my trades so no spread to deal with.
I noticed on your EA chart that the spread is 4.2 pips where as mine is 0.7 pips. I have recently opened an account that had a spread instead of commission and I dislike it immensely. I have had more stop being hit as they widen the spread as market activity increases.
You will be better off with a commission broker in my opinion.
I have attached the spreads from each broker.
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Your trade order needs to be in the right place at the right time.
Hi SR,
This is the 4 hr line chart of EA. It shows clearly at what price you should get a reaction / rejection from.
I shorted EA this morning.
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Your trade order needs to be in the right place at the right time.
Quoting Islandfx911
{quote} Hi SR, Well done on posting your trades. You are utilizing the line chart / SnR / Candle charts as they should be used. In regards to how much wick on a rejection bar should be, I like to see 2 pips as a minimum and 10 pips as a maximum. AU trades I use a 2 or 3 pip SL and for example GJ would be a 10 pip SL. Being in mind I pay commission on my trades so no spread to deal with. I noticed on your EA chart that the spread is 4.2 pips where as mine is 0.7 pips. I have recently opened an account that had a spread instead of commission and I...
Thank you Island. I happen to have a Live a/c with one of those companies as well. Your indicators (set at defaults) and template is now properly installed, with the ADR & Spread actually working etc.
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Quoting Islandfx911
Hi SR, This is the 4 hr line chart of EA. It shows clearly at what price you should get a reaction / rejection from. I shorted EA this morning. {image}
Yes. As you saw in my chart, my SR's are similarly placed to your own.
After yesterdays EJ continuance of a trend, I was observing what I thought was a similar situation. However, ITB's clarification of the most recent SR is of higher weight and therefore my having a Short bias should have been my plan prior to pulling the trigger. ie: yesterday's chart between EJ & today's EA are not similar.
Thank you for your clarity.
stopped out
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Plan
15-1-25
EJ
ADR @ start of session 138. Market has moved approx 100

Daily is low 40 pips or so from Support.
H4 also near the same Support
m30 similar to above 2 charts. A minor support rejection seems to have formed at open of this No Indicator session. I will disregard this bar.

Bias is Long at Support. Wait for rejection bar, if it happens this trading session.

Adjustment: If market hits Support, the ADR of 138 will be hit
**all of my ADR on all charts are saying 138, so the indicator must not be currently working properly for me as yet.**

End of Session.
Review: Entry requirements not met. No trade taken.
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reentered and hit 5RR
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Quoting direction
reentered and hit 5RR {image} {image}
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Your trade order needs to be in the right place at the right time.
Love the thread!

I have been reading through and just wondering how you define an impulse move, sorry if it’s a silly question. I can see it’s a large move that breaks a high or low, just wondered if you have any actual requirements for the move?
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