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Support and Resistance, Swing / Long term trading

  • #201
  • Jan 16, 2024 7:06am Jan 16, 2024 7:06am
Thanks for sharing your strategy. It's simple and easy to follow. I have only been watching since I don't have any questions and don't swing trade on such high timeframes.
Feel free to continue to share if you like, but what you've shared so far has been very insightful.
  • #202
  • Apr 5, 2024 11:49am Apr 5, 2024 11:49am
For intraday price action signals i use MAS and fractals for support resistance its the only thing i found that was addaptive enough. Longer term i allways look at angles.
But i do have a problem with fractals
Lik reading them straight of is no problem but often wou want to see the price action behind it at a glance.
I Usually have to scroll trough the chart to see the levels and the bottom fractal indicator has one problem and that is the numbers of bars is not customizable per timeframe as ususally lower timeframes needs more bars than the higher.
Does anyone know if there is anything similair that allows you to set the number of bars of each timeframe?
Man that would be super useful.
The indicators name is FFX_Fractals by FerruFx is old and trusthworthy and is seen on the bottom part of the screen dump.
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  • #203
  • Apr 5, 2024 12:13pm Apr 5, 2024 12:13pm
I Also have a question relating to RSI.
I Dont know if this is possible i do know how RSI works but not its levels.
Thoose static levels is there possible to draw them on chart based on the level numbers like say you have the setting 30-70 or 20-80 classics and you want to see this levels on the chart as a horizontal line?
The reason i ask is becouse i have it on tradeview but i do not know the calculations to create this levels and if its possible to have them redrawn as levels that probably needs to repaint?
  • #204
  • Apr 5, 2024 12:21pm Apr 5, 2024 12:21pm
Quoting TheCardinal
{quote} I didnt understand everything you just said, but the rules are highlighted in the very first post of this thread. Here is a copy paste: 1. Respect first and foremost. 2. The charts have to be higher time frame (H1 and above). If you trade M15 or m5, great for you, but this is not the thread to share your charts. 3. Charts have to be clean. We must see price action. A cluttered chart filled with lines and indicators will be removed. 1. I couldnt have known your charts were Daily, H4 an d H1 because it wasnt written anywhere... 2. Rule #3...

Cardinal..

I Cannot trade this method long term it burns me out.
Its based on spotting harmonic waves addaptivly as they are created its the only way to spot every single pattern.
Meaning super glare on the charts every second and comparing calculating and not missing the patterns wich is a few lol.
But i cant do it long time its to demanding.
Works but not for nomal brain lol
Mas is way more relaxing for me. Angles though wery important it will allways be important as the market is fractal by nature..
  • #205
  • Apr 5, 2024 5:50pm Apr 5, 2024 5:50pm
Quoting Pipchaser45
{quote} Cardinal.. I Cannot trade this method long term it burns me out. Its based on spotting harmonic waves addaptivly as they are created its the only way to spot every single pattern. Meaning super glare on the charts every second and comparing calculating and not missing the patterns wich is a few lol. But i cant do it long time its to demanding. Works but not for nomal brain lol Mas is way more relaxing for me. Angles though wery important it will allways be important as the market is fractal by nature..
Hi pipschaser,

Thats good for you, but I dont think you are asking your questions in the right thread.

I do not trade with indicators, as I said, charts have to be higher time frame and we have to see PA.

Your charts arent high time frame and they are cluttered with indicators. Im sure you will have better luck in another thread.

Godspeed
  • #206
  • Apr 6, 2024 6:19pm Apr 6, 2024 6:19pm
Yes true. I Only use higher timeframe indicators not charts so really don't look at them at all, because no need i just fallow price becouse the market is fractal by nature ,with this method but sometimes switch to scope larger image especially if its choppy because also easy to stare yourself blind when so much information to handle. But to much information to make it practical long term without burnout . For some instances it can ease example squeeze situations are simple with that method especially with crypto.

It does make the price action visual but also overload of brain It has given me new understanding of the harmonic patterns as they also set boundaries as they appear important understand mechanics to why they appear and what they mean not always what is visible at first glance atleast i might have use with it in future i think it has relation with murrey angles as i see it appear everywhere. But way way to much info to handle no matter how good charting eyes is there. I Set out creating it with trying to visualize highter tf indis in the swings as much as possible thus the clutterly style had to add colors and colors and even more colors to distinguish them. There are other methods that can be utulised for the same logic. Because actually sure harmonic patterns are patterns but still fractal by nature no matter what people call them there is still the same math behind them all . Thus there is a mathematical pattern in them all. I Do use parts of it with mas to especially trendlines of the fractals as the angles are wery important.
At tops if i use it intraday i can run 2 weeks before a burnout.
I Rather skip some smaller trades and relax more burnout is not worth it, takes to long recover and that brainfog lingers and ruins focus ahead.
Maybe with stimulants but that would burn me out even more afterwards-
  • #207
  • Feb 23, 2025 4:51pm Feb 23, 2025 4:51pm
Its been a while since I've wrote something in this thread or any other one, but I thought I'd share an interesting set up thats happening right now.

Monthly Chart: we are at a major support level

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Weekly chart: no set up, but we are in oversold territory (seen by the green arrow, I use custom settings on the RSI for extreme conditions that happens very rarely) and we see some nice bullish rejection/pressure.

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Daily chart: The "COOF" set up is present (change of order flow):

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Good news is; most USD pair are at a major support level AND present the same kind of bullish set up. As a confluence, the #1 correlation with AU is NU and the same pattern is also on this chart as well. I think its a very good opportunity to enter early in what might be a MAJOR trend reversal happening. I may be wrong, who knows. What I do know is:

1. We hit a major level of support
2. My edge is present with a very identifiable pattern (COOF)
3. I have a confluence on a correlated pair that presents the same bullish characteristics.
4. I play the odds and take the trade. Pending order at 61.8% Fib
  • #208
  • Feb 27, 2025 9:10pm Feb 27, 2025 9:10pm
Triggered. No after the fact trade here.

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SL is as shown
TP Isnt fixed. I will trail if I get some profits.
Now we wait
  • #209
  • Feb 27, 2025 10:19pm Feb 27, 2025 10:19pm
Quoting wealthcp
Check the is: {image} {file} {file}
What's that supposed to be? What are you trying to show us?
  • #210
  • Mar 2, 2025 9:14am Mar 2, 2025 9:14am
Quoting TheCardinal
Hi guys, I wanted to start a different, new thread from this one https://www.forexfactory.com/thread/...-vs-technicals and the reason being is that Im not a fundamental trader. I've created this thread to illustrate a point and I think I did. Now, I just want to share how I trade. I cant call that my "trading method" because its just support & resistance trades with some fancy (not) price action, mainly Pinbar, Engulfing, market structure, basics things like that. A little bit of background about myself....
I really respect your transparency and honesty about your trading journey. It’s refreshing to see someone openly share both their struggles and progress without sugarcoating things. Trading is a tough game, and your perspective on it being like an academic journey makes a lot of sense.
Your approach to risk management and account scaling is solid—many traders blow up accounts because they don’t grasp these concepts early on. The fact that you’ve survived, learned, and are now mostly breaking even shows real growth.
I also appreciate the structure of your new thread—keeping things clean, focused on higher timeframes, and fostering respectful discussions. I’m sure many traders, especially those still navigating the learning curve, will find value in your insights.
Looking forward to seeing your charts and discussions. Wishing you continued progress on your journey to the top!
  • #211
  • Edited 8:57am Mar 3, 2025 8:42am | Edited 8:57am
Quoting AbdullahBin
{quote} I really respect your transparency and honesty about your trading journey. It’s refreshing to see someone openly share both their struggles and progress without sugarcoating things. Trading is a tough game, and your perspective on it being like an academic journey makes a lot of sense. Your approach to risk management and account scaling is solid—many traders blow up accounts because they don’t grasp these concepts early on. The fact that you’ve survived, learned, and are now mostly breaking even shows real growth. I also appreciate the...
Thank you for the kind words Abdullah. It is a long and difficult journey, but well worth it in my opinion.

About risk management, it is really the key. I cant even count the number of traders I've seen that blew NUMEROUS account. It seems like some of them take some kind of pride in that: "Oh I blew 7 accounts". You should NEVER blow multiple accounts. I did manage to lose that first account in the end (my first one), but it was a small one and because I was still learning ABOUT risk management (as said in the first post, went down from 2k to 500 in 2 years , pretty hard to come back from that specially if you apply risk management).

Dont risk 20k if you cant break even on a 2k account.

Anyway, feel free to post charts
  • #212
  • Mar 3, 2025 8:53am Mar 3, 2025 8:53am
If I had the account to take that trade, I would. We do not see that pattern often and its a pretty reliable one.

Outside Bar on the weekly charts at the all time high AND outside of the norm volatility (I use my own indicator for my specific patterns highlighted in my second post. Outside bar are just stronger Engulfing).

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But this trade requires (in my opinion), 7000 pips to cover the swing high. It might very well pull back deep before dropping (if it drops*). I use 50% retracement on these patterns. Again, Im not taking that trade because I cant (Full transparency here). 0.01 lot would represent 100$ SL. Out of my league in terms of risk per trade.
  • #213
  • Mar 3, 2025 9:40pm Mar 3, 2025 9:40pm
Quoting TheCardinal
If I had the account to take that trade, I would. We do not see that pattern often and its a pretty reliable one. Outside Bar on the weekly charts at the all time high AND outside of the norm volatility (I use my own indicator for my specific patterns highlighted in my second post. Outside bar are just stronger Engulfing). {image} But this trade requires (in my opinion), 7000 pips to cover the swing high. It might very well pull back deep before dropping (if it drops*). I use 50% retracement on these patterns. Again, Im not taking that trade because...
If some of you took that trade, you would be in. I wouldnt wait too long to move my stop to BE, specially with the macro environment we have currently.
  • #214
  • Mar 4, 2025 7:35pm Mar 4, 2025 7:35pm
Quoting TheCardinal
Triggered. No after the fact trade here. {image} SL is as shown TP Isnt fixed. I will trail if I get some profits. Now we wait
This is usually a pretty good sign: Outside bar outside of Bollinger Bands (so out of the norm move). Remember that Bollinger Bands with a standard deviation of 2 represents 95% (approximately) of price action on that given timeframe. So when price goes outside, its considered "uncommon". And an Outside bar is just a stronger version of an Engulfing. On the Daily timeframe combined with an initial entry of my COOF set up (change or order flow = break of structure), all this points towards more upside, but eh, who knows. I might be wrong and lose on both trades lol

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I will move my Stop of the initial position under the low of the OB, and I am adding a new position as so:

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  • #215
  • Mar 5, 2025 8:29am Mar 5, 2025 8:29am
Quoting TheCardinal
{quote} This is usually a pretty good sign: Outside bar outside of Bollinger Bands (so out of the norm move). Remember that Bollinger Bands with a standard deviation of 2 represents 95% (approximately) of price action on that given timeframe. So when price goes outside, its considered "uncommon". And an Outside bar is just a stronger version of an Engulfing. On the Daily timeframe combined with an initial entry of my COOF set up (change or order flow = break of structure), all this points towards more upside, but eh, who knows. I might be wrong...
The 2 positions are in profits. Here is the plan on how to manage these positions:

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I will wait for a WEEKLY close above that blue line unless we see some sketchy price action on the Daily chart. So essentially, I'm waiting for a break of structure on the weekly chart to move my SL to BE and then trail based on weekly swing lows. Since I believe we might see a Monthly reversal of price, im in for the long run. Let your profits run as they say.
  • #216
  • Mar 5, 2025 7:40pm Mar 5, 2025 7:40pm
Quoting TheCardinal
{quote} The 2 positions are in profits. Here is the plan on how to manage these positions: {image} I will wait for a WEEKLY close above that blue line unless we see some sketchy price action on the Daily chart. So essentially, I'm waiting for a break of structure on the weekly chart to move my SL to BE and then trail based on weekly swing lows. Since I believe we might see a Monthly reversal of price, im in for the long run. Let your profits run as they say.
Looks like its going to be an easy straight move up. Anyone else took this trade?

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  • #217
  • Mar 10, 2025 11:37am Mar 10, 2025 11:37am
Quoting TheCardinal
{quote} Looks like its going to be an easy straight move up. Anyone else took this trade? {image}
Alright so here are the developments:

I was kind of expecting the move with the "path tool" in black to happen. Right now, it doesnt seem as straight forward as last week. Since I am betting against the Major Trend, even if we had a COOF set up on the Daily, it doesnt change the fact that AUDUSD has been trending down since 2021. I would like to avoid having 2 positions long unprotected right now, so I am making a discretionary decision to move my SL on my second position up a bit as you will see below.

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If I get SL out of both positions, this will represent 1% loss (the risk of a single position). I think that if AUDUSD would go up, it wouldnt break past below the 61.8% Fib of the Daily leg up. If it breaks that 61.8%, I think we could see a break of structure to the downside and a possible continuation of the downtrend. I still think the set up is valid. Im leaving the SL of the first position as it is.
  • #218
  • Mar 12, 2025 7:27pm Mar 12, 2025 7:27pm
Quoting TheCardinal
{quote} Alright so here are the developments: I was kind of expecting the move with the "path tool" in black to happen. Right now, it doesnt seem as straight forward as last week. Since I am betting against the Major Trend, even if we had a COOF set up on the Daily, it doesnt change the fact that AUDUSD has been trending down since 2021. I would like to avoid having 2 positions long unprotected right now, so I am making a discretionary decision to move my SL on my second position up a bit as you will see below. {image} If I get SL out of both positions,...
Both positions now BE. I dont think the move will be sustained if it goes back to my entries. Price COULD retest my second entry for a double bot & take me out @ BE, but if it goes back to support, it might very well break it.

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No partials until blue line is reached. I will be looking for further add ons as price moves up from here
  • #219
  • Mar 17, 2025 4:39am Mar 17, 2025 4:39am
Quoting TheCardinal
Hi guys, I wanted to start a different, new thread from this one https://www.forexfactory.com/thread/...-vs-technicals and the reason being is that Im not a fundamental trader. I've created this thread to illustrate a point and I think I did. Now, I just want to share how I trade. I cant call that my "trading method" because its just support & resistance trades with some fancy (not) price action, mainly Pinbar, Engulfing, market structure, basics things like that. A little bit of background about myself....
I really appreciate your transparency and the honesty in sharing your trading journey. It’s inspiring to see how you’ve evolved over time, especially with the challenges you've faced and learned from. Trading is definitely a marathon, not a sprint, and I think your comparison to being a professional athlete is spot on – the dedication, persistence, and constant learning it requires are key.
The way you approach risk management, sticking to reasonable risk per position, and managing expectations is something a lot of traders can learn from. It's refreshing to hear someone highlight the reality of trading – that losses are part of the process.
I also love the fact that you’re looking at trading as an academic pursuit. It's all about continuous learning, and your mindset will undoubtedly help you improve as you progress. Excited to see where your journey takes you! Thanks for creating a space to share and learn together.
Best of luck with your Master’s degree in trading!
  • #220
  • Edited 5:14pm Mar 17, 2025 2:05pm | Edited 5:14pm
Quoting Limelight2
{quote} I really appreciate your transparency and the honesty in sharing your trading journey. It’s inspiring to see how you’ve evolved over time, especially with the challenges you've faced and learned from. Trading is definitely a marathon, not a sprint, and I think your comparison to being a professional athlete is spot on – the dedication, persistence, and constant learning it requires are key. The way you approach risk management, sticking to reasonable risk per position, and managing expectations is something a lot of traders can learn from....
Thank you for your kind words Limelight. I wanted to created a thread where transparency would be put forward. Everyone knows what happened, after it happened. Everyone is a professional trader when you only show trades after the fact. Once everything unfolded, showing in “backtest replay mode” where you would have entered and how to make money is easy. We can all do it. This is why I only post live trades. This field would be better off if people wouldn’t hesitate to show losers. In a game where 95% lose, it seems like the 5% of winners all hang around forexfactory lol (sarcasm). Do not hesitate to contribute to the thread and show your charts
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