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Mrs V's fave 1 min entry

  • #41
  • Edited 4:37am May 1, 2009 4:25am | Edited 4:37am
GM V & Mrs V.....well I couldn't resist downloading your template and setting up your chart to compare it with what I use on the 1 min TF.

I rarely post a 1 min chart, but feel that it may be appropriate to do so here.....and I'm also making a few comments hoping that you may find them useful.....

I'm always looking for equal or close to equal highs / lows where price basically fails to continue a move....here at the start of Frankies Hour - a dull one today as its a holiday in Europe - although not the UK.

The sell was confirmed by the bearish divergence on MACD.

Later the Brits supported the price again, this is seen as bullish divergence on MACD and price has moved up ~80 pips.....

I find that indicators just make it more difficult to watch the Price Action and that 3 MAs give me all the additional info that I need without having to look away from the PA - on the 1m TF I dont even have volumes....the slow aqua ema is the 5m 34ema (here a 170ema) and shows the trend off the next higher TF. The dark blue is the 1m 34ema and I'll be trading price breaks of this as my main entries after seeing the PA - especially around a SS level....the yellow 13 ema just helps as a guide for my trailing stop.

PS as I type at 9:15 GMTthe last push up was only +9 pips on the prior mini high and the yellow ema is flattening - a sign of bearish divergence http://www.forexfactory.com/images/icons/icon12.gif

PSS I now have a small short at 4872.....15 pip stop just above todays R3.....a cheeky entry...http://www.forexfactory.com/images/icons/icon11.gif

Edit: whoops - I soon realised that my pivots are different based on 5pm edt, so I closed that short for a wash
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Trading Levels with WRBs
  • #42
  • May 1, 2009 4:35am May 1, 2009 4:35am
Quoting costasouth
A question if I may? When you get either a buy or sell signal you wait for the next candle to go one pip above below for the entry.
If this is not achieved on the next candle do you abandon that signal and wait for the next set up.
Also with stotch would you abandon the entry if it is at or near 80 for a buy or 20 for a sell.

Thank you for your time.

Martin
Yes Martin I'd usually look for the next candle. If its longer than that chances are one of the indis will turn and give another signal later. So that trade would be abandoned for the later signal.

I'm not fussed really where stoch is on a 1 min chart. It can go from OB to OS in 10-15 pips. By way of example see the attached gbp chart.
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  • #43
  • Edited 5:06am May 1, 2009 4:56am | Edited 5:06am
Quoting Islander
GM V & Mrs V.....well I couldn't resist downloading your template and setting up your chart to compare it with what I use on the 1 min TF.

I rarely post a 1 min chart, but feel that it may be appropriate to do so here.....and I'm also making a few comments hoping that you may find them useful.....

I'm always looking for equal or close to equal highs / lows where price basically fails to continue a move....here at the start of Frankies Hour - a dull one today as its a holiday in Europe - although not the UK.

The sell was confirmed by the bearish...
Hi Izzy
Try as we might Mrs V and I are just not good enough to trade the way that you do. We simply are not able to consistently enough draw that line in the sand to trade specific levels on a chart. You are very skilled and your eyes tuned to trade that way. I've almost given up trying, almost.

We trade a few set ups, higher lows/lower highs, hammers/shooting stars at end of runs (if these line up with key levels and if they have divergence so much the better) and some vsa trades.

This 1 min set up is not the solution but it is a very viable option for the amount of opportunities it provides.

I do aspire to reach your level of skill and will keep plugging away. For now this method is producing consistent results.

I'd also suggest to anyone to follow your methods and trades in the above mentioned threads, you can only learn and benefit.
  • #44
  • May 1, 2009 5:13am May 1, 2009 5:13am
Quoting Vantage
Hi Izzy
Try as we might Mrs V and I are just not good enough to trade the way that you do. We simply are not able to consistently enough draw that line in the sand to trade specific levels on a chart. You are very skilled and your eyes tuned to trade that way. I've almost given up trying, almost.

We trade a few set ups, higher lows/lower highs, hammers/shooting stars at end of runs (if these line up with key levels and if they have divergence so much the better) and some vsa trades.

This 1 min set up is not the solution [b]but...
I guess that after spending 12,000+ hours looking at charts - mainly cable - many things have finally embedded themselves in my grey matter!!

However, you're absolutly correct when you find a set of rules - the simpler the better - that work for you and that you can "see" in real time looking at the right of the screen - lol, we all see them 20 candles later ......

Many good pips to both of you.....
Trading Levels with WRBs
  • #45
  • May 1, 2009 5:22am May 1, 2009 5:22am
Quoting Islander
I guess that after spending 12,000+ hours looking at charts - mainly cable - many things have finally embedded themselves in my grey matter!!

However, you're absolutly correct when you find a set of rules - the simpler the better - that work for you and that you can "see" in real time looking at the right of the screen - lol, we all see them 20 candles later ......

Many good pips to both of you.....
Cheers, I suppose what helps is we have decided from higher level charts what direction we are looking for. We are then solely focused on entry and the 3 indi's lining up on 1 min.

This morning in Frankies hour for whatever reason I cannot remember we decided ej was the better option compared to gbp and got in on a very nice trade shown above.

It was only after UK news that for us gbp showed a nice opportunity.
  • #46
  • May 1, 2009 5:41am May 1, 2009 5:41am
Good thread, Vantage. Thanks for posting the templates, it makes it much clearer to follow along with your reasonings. A question or two about the mechanics of following 3 pairs... (are you able to post a screenshot of what your desktop layout looks like?) Do you have more than 1 monitor? do you have just 1 window open per pair, and cycle through the time frames, or does each pair have a couple of windows, spread across a few monitors. Or maybe you run more than 1 instance of MT4, one per pair?
  • #47
  • Edited 12:51pm May 1, 2009 5:52am | Edited 12:51pm
Quoting Royston
Good thread, Vantage. Thanks for posting the templates, it makes it much clearer to follow along with your reasonings. A question or two about the mechanics of following 3 pairs... (are you able to post a screenshot of what your desktop layout looks like?) Do you have more than 1 monitor? do you have just 1 window open per pair, and cycle through the time frames, or does each pair have a couple of windows, spread across a few monitors. Or maybe you run more than 1 instance of MT4, one per pair?
I have 4 screens, 1 for the 3 hourly charts. Then 1 screen for each currency where I have 5 and 1 min charts side by side.

If I only had 1 screen I think I'd have a profile for each time frame but leave the 1 min open most of the time with the 3 currencies up. If you have a clear move up/down of the 34 ema I'd then focus on that currency. I hope this may help.

Added a screenshot. This is how 1 screen looks.
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  • #48
  • May 4, 2009 9:07am May 4, 2009 9:07am
Took a break today with UK holiday, pity lots of opportunities in US session. Both gbp and ej had pushes up on 1 hr from their 50% of y's range and eu showing hammers. Just showing by way of example.
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  • #49
  • May 5, 2009 1:16am May 5, 2009 1:16am
GM V and Mrs V.....hope you guys caught these nice little trades, both worth ~20 pips - that's all I expect to get around Frankies Hour.....hit and run.....http://www.forexfactory.com/images/icons/icon12.gif
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Trading Levels with WRBs
  • #50
  • Edited 7:49am May 5, 2009 4:32am | Edited 7:49am
Quoting Islander
GM V and Mrs V.....hope you guys caught these nice little trades, both worth ~20 pips - that's all I expect to get around Frankies Hour.....hit and run.....http://www.forexfactory.com/images/icons/icon12.gif
Missed Frankie completely had an unexpected visitor this morning. Was only able to start looking when UK was well underway.

Had a perfect example of the kinds of set ups and entries that we are looking for. On hourly chart GBP in firm uptrend. Had a higher low close as shown on 5 min, took 1st entry after that on 1 min. Nice 40 odd pips up to 1.51. The line on 1 min candle shows close of 5 min hl candle.
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  • #51
  • May 5, 2009 4:33am May 5, 2009 4:33am
Quoting Islander
GM V and Mrs V.....hope you guys caught these nice little trades, both worth ~20 pips - that's all I expect to get around Frankies Hour.....hit and run.....http://www.forexfactory.com/images/icons/icon12.gif
Oh what I did want to mention I'll be looking a lot closer at GBP 80/20 psych levels during Frankies hour, thanks.
  • #52
  • May 5, 2009 4:45am May 5, 2009 4:45am
Was focused on gbp so didn't trade ej. A very similar scenario.

Last few days we have been trending up. Showing clear divergence on 5 min macd histo. On 5 min chart the lines I have shown show a hl and another hl at 11.15. The red line on 1 min shows close of 11.15 candle and 1 st buy signal thereafter.

Again this is exactly how we want to trade this entry method. Get the trend from higher level and use 1 min for entries.
Attached Image(s) (click to enlarge)
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  • #53
  • May 6, 2009 7:45am May 6, 2009 7:45am
Earlier this morning gbp was quite choppy with 3 small range hammers/dojis in a row on 1 hr. Ej and eu had nice hammers so I was looking at ej that moves a little more than eu normally.

The red lines on 5 min shows the 2 nice hl's. The red lines on 1 min charts shows the close of the respective 5 min hl candles. Entries shown with arrows.
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  • #54
  • May 11, 2009 4:06am May 11, 2009 4:06am
I missed this trade on ej at the top with divergence on 5 min chart but this set up and subsequent lh's that followed gave good 1 min entry.

Got 50 odd pips in these two trades. The first trade I exited just above the purple line at 133.58, the D pivot. The second trade I exited just above the yellow line at 133.24, 50% of Fri's range.

There was a signal to left of first trade which did not confirm by going on 1 pip, so no trade. There were also 2 signals after my 2nd trade which did not confirm by going on. There was a 3rd signal at 133.25 which did confirm by going on but we decided not to take it.
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  • #55
  • May 11, 2009 8:02am May 11, 2009 8:02am
For what its worth the trade I didn't follow through with and another trade that occurred a little later, I was out at the time. The x's on the left chart are for trades where 3 indi's lined up but price doesn't follow through to confirm.

Just showing examples.
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  • #56
  • May 12, 2009 3:58am May 12, 2009 3:58am
GU had a nice hl close above 1.51 and ej a hl close above 132.50 earlier this morning setting up these moves, 5 min chart .

Its amazing how often these picture perfect step ups occur. Lots of opportunities before the UK news.

Got to get a flat tyre changed so I might trade again after US news. Or might just be finished for the day.
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  • #57
  • Edited 6:01am May 12, 2009 4:05am | Edited 6:01am
The gu and ej 5 min hl closes that started the previous posts moves.
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  • #58
  • Edited 7:02am May 12, 2009 6:51am | Edited 7:02am
Got back from having tyre fixed. GU wasn't finished, another 3 signals with the last 1 failing. I think in that whole run up there was only 1 other signal that failed with numerous opportunities for pips.

A trade is where 3 indi's line up and price moves on beyond signal candle to confirm.
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  • #59
  • May 12, 2009 6:57am May 12, 2009 6:57am
Again whilst I was out. Just showing the numerous opportunities for pips, ej following a nice lh on 5 min.

Eu had same kind of move but as usual ej ran a little more.
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  • #60
  • Edited 4:30am May 13, 2009 3:20am | Edited 4:30am
Entry from lh on 5 min chart shown as first red line on the left of this 1 min chart, see http://www.forexfactory.com/showthre...=1#post2730287.

Didn't take entry from 1 min. The first signal that qualified was just above 132. Even though day after day in and around LO these signals prove to be very good I still hate trading right on an even number. I'd rather wait and take the first signal after the move through the even number and the inevitable re-test.

95% of my trades are lh/hl from 5 min chart as per the above thread and as mentioned here from 1 min chart. The other few are the odd bounce from key levels and Frankies hour psych levels trades ala Islander.
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