Lawgirl and gang,
I'm very interested in your method, however I cannot find yet your entry rules for the BO entries. I'm so sorry but reading the 900 pages is almost impossible.
I wonder if someone can outline some simple basic rules? Like waiting for a H1 candle close above/below the BO lines, then move to smaller timeframe and enter at specific price action.
Lawgirl and gang,
I'm very interested in your method, however I cannot find yet your entry rules for the BO entries. I'm so sorry but reading the 900 pages is almost impossible.
I wonder if someone can outline some simple basic rules? Like waiting for a H1 candle close above/below the BO lines, then move to smaller timeframe and enter at specific price action.
Thanks a lot
Ignored
The H1 4 candle breakout set-up:
A. This is a price action (PA) trade and the weekly RSI direction does not need to match the direction of the trade. Because this is considered a "fast" trade...meaning over in a few hours at the longest...only the H4 and H1 candles need to confirm direction, but they will do that if PA moves in the desired direction.
B. You will be looking at the bodies of the first four H1 candles of a new trading day., whenever that is for you. Disregard the tails (wicks). Period seperators MUST to be placed on the chart.
C. Place horizontal lines at the highest high of these four candles' bodies (not including the tails, if any) and the lowest low of these four candles' bodies, again, disregard the tails. These lines are really just R/S lines.
D. Wait for a breakout in the direction of the bias.
E. Enter from the M15 chart, when at least one candle has completely cleared the R/S line in the desired direction. The entry takes discretion, as the quality of the candles is important to observe.
NOTE: You can set this up several hours after the fourth candle that you are observing. For example: My first four candles are from 2:00 pm - 6:00 pm. I may not get to the set-up until 8 or 9 p.m. That is ok, in fact, that gives time to observe PA. Do verify the directional bias again, however.
PLEASE SEE POSTS #1029 - 1032 ON PAGE 69 FOR COMMENTARY AND CHART EXAMPLES
A. This is a price action (PA) trade and the weekly RSI direction does not need to match the direction of the trade. Because this is considered a "fast" trade...meaning over in a few hours at the longest...only the H4 and H1 candles need to confirm direction, but they will do that if PA moves in the desired direction.
[size=3][font=Cambria]B. You will be looking at the bodies of the first four H1 candles of a new trading day., whenever that is...
Ignored
Thanks a lot lawgirl,
Will have a read to the mentioned posts.
Trade What You See - Almost Naked Trading
