Over the past few weeks I've been struggling to pull the trigger....some of that is because of poor focus and limited time.....but that's another story. So I've spent the weekend reassessing how I pull the trigger and have gone back to a method that just works for me.
The point of this thread is to offer a method to time your entry, although on reflection, it's an approach that can be traded all on it's own.
Step one...identify a trade you want to take....maybe a trendline break, support or resistance test, fib retrace...whatever.
Step two...time your entry.
The timing is quite simple and involves the use of GANN over three timeframes...M15, M5 and then M1.
Essentially it is as follows:
1. Wait for GANN to cross on m15 and m5...
2. Take first candle the GANN crosses on M1
There are lots of times it makes sense to wait for the candle to close and other times not. That's a decision you must make in the moment of the trade and can't be set down with a hard set of rules. So it's not so much a trading system per se, but a guideline for helping you pull the trigger and stay on the right side of immediate trend. And there are lots of variations to this.
Attached is the template that can be used on each of M1, M5 and M15...and an example. The example does not show all possible entries...just a couple of good example based on M5 price action..
I've also included an H1 GANN on the template. You decide whether that is something you want to use or not.
Cheers
CanuckCT
The point of this thread is to offer a method to time your entry, although on reflection, it's an approach that can be traded all on it's own.
Step one...identify a trade you want to take....maybe a trendline break, support or resistance test, fib retrace...whatever.
Step two...time your entry.
The timing is quite simple and involves the use of GANN over three timeframes...M15, M5 and then M1.
Essentially it is as follows:
1. Wait for GANN to cross on m15 and m5...
2. Take first candle the GANN crosses on M1
There are lots of times it makes sense to wait for the candle to close and other times not. That's a decision you must make in the moment of the trade and can't be set down with a hard set of rules. So it's not so much a trading system per se, but a guideline for helping you pull the trigger and stay on the right side of immediate trend. And there are lots of variations to this.
Attached is the template that can be used on each of M1, M5 and M15...and an example. The example does not show all possible entries...just a couple of good example based on M5 price action..
I've also included an H1 GANN on the template. You decide whether that is something you want to use or not.
Cheers
CanuckCT
