If you don't build your DREAM, Someone will hire to help build theirs ...
GBPCAD: D1: Re-entry phase after the extreme H4: Extreme H1: MLV Your comments are really appreciated {image}
Looking at the weekly timeframe there has been a huge rejection candle at a very extended extreme and on the daily there was a rejection candle indicating a downward movement soon.
It might go higher - it might plummet down - we will find out
- #183
- Mar 16, 2025 10:04pm Mar 16, 2025 10:04pm
{quote} I have jumped into your GBPCAD trade, but only as a countertrend trade on the 4 hour - planning TP at the 50 sma. Looking at the weekly timeframe there has been a huge rejection candle at a very extended extreme and on the daily there was a rejection candle indicating a downward movement soon. It might go higher - it might plummet down - we will find out
But your approach is much safer.
If you don't build your DREAM, Someone will hire to help build theirs ...
- #187
- Mar 17, 2025 7:16am Mar 17, 2025 7:16am
I've sold on USDCHF. Using smaller TF for the TP because I'm a bit nervous how far price is from the MA50 line on Daily. D1{image}H4{image}H1 {image}
- #191
- Edited Mar 18, 2025 2:57am Mar 17, 2025 4:48pm | Edited Mar 18, 2025 2:57am
MLV Setup 1
1. Price is no longer able to reach the top or low of the BB.
2. Wait for the reversal candle (conformation) and mark the bodies of the MLV candle and the reversal candle.
(Price can be outside the 510 zone but within top or low BB)
3. Wait for the test candle to the line or MA5 high/low and take entry.
Features:
- an extreme event should have occurred before MLV
- BB should have a curve
- cancel the setup if candle closes above top BB (sell setup) or below low BB (buy setup)
- set SL over top BB (sell setup) or low BB (buy setup)
H4
MLV Setup 2
1. Price is no longer able to reach the top or low of the BB.
2. Wait for the reversal candle (conformation) and mark the bodies of the MLV candle and the reversal candle.
(Price can be outside the 510 zone but within top or low BB)
3. Switch one TF further down and wait for CSD and take entry
4. Layer orders along the path of the test candle to line and MA5
Features:
- an extreme event should have occurred before MLV
- BB should have a curve
- cancel the setup if candle closes above top BB (sell setup) or below low BB (buy setup)
- set SL over top BB (sell setup) or low BB (buy setup)
H4
H1
1. Price is no longer able to reach the top or low of the BB.
2. Wait for the reversal candle (conformation) and mark the bodies of the MLV candle and the reversal candle.
(Price can be outside the 510 zone but within top or low BB)
3. Wait for the test candle to the line or MA5 high/low and take entry.
Features:
- an extreme event should have occurred before MLV
- BB should have a curve
- cancel the setup if candle closes above top BB (sell setup) or below low BB (buy setup)
- set SL over top BB (sell setup) or low BB (buy setup)
H4
MLV Setup 2
1. Price is no longer able to reach the top or low of the BB.
2. Wait for the reversal candle (conformation) and mark the bodies of the MLV candle and the reversal candle.
(Price can be outside the 510 zone but within top or low BB)
3. Switch one TF further down and wait for CSD and take entry
4. Layer orders along the path of the test candle to line and MA5
Features:
- an extreme event should have occurred before MLV
- BB should have a curve
- cancel the setup if candle closes above top BB (sell setup) or below low BB (buy setup)
- set SL over top BB (sell setup) or low BB (buy setup)
H4
H1
You mean GAMBLE???.... Thats all the market is, ONE GIANT CASINO!!!
- #194
- Mar 18, 2025 3:17am Mar 18, 2025 3:17am
I'll just link Oma Ally's video here, and maybe HazHazHaz can help with the translation or check if I understood it correctly.
. But as a sharing, I made a pdf based on the 2 videos.Also, I personally don't think I will be attempting this Extreme approaches anytime soon. It's easy to see on hindsight, but in an actual trading environment, it's just too risky and does not have enough confirmations for my liking.
PDF:
{quote} Most of what you have shared in post #188 is accurate
Thank you
You mean GAMBLE???.... Thats all the market is, ONE GIANT CASINO!!!
