Simple Setups To Trade

Look at this think the big boys are loading up at 1.4250 for big push down?

I'm already in on trendline break.

Lets see what happens?

went 10 pips up so moved stop to break even just in case this is a typical London fake out, but looks pretty good now.

Won't be making same mistake as yesterday, stop will stay where it is at break even.

Did you notice all the orders going in at 1.4250 area? I didn't notice till after I entered otherwise the best entry when you see that situation is to wait for price to come up to as close to the level as possible, in this instance 1.4250 and enter with a tight stop the other side. Then if that level is broken you want out asap!

Lets see how this trade goes, hoping for some good pips and will look to load on every pullback on 1 min as my first 2% risked is now safe.

Happy Trading

Retest of that 1.4250 line going on so its an opportunity to get in if you like the look of it?

But wait for stoch and CCI to turn down and a trendline break.

Because it might just keep going up from here?

Sorry retest of resistance not support!!!

Could go either way here!

Fingers crossed its our way? Heads or tails?

Oh well that didn't work out, London fake out then a drive in the other direction!

Sorry, back to the drawing board!

Great charts Clive....enjoying your trade ideas very much. I don´t trade the 1m but if and when I see something on 1h and 4h I`ll post.

Good trading to all.



_______________
michael

Thanks Michael its nice to get some feedback, thanks

Looking forward to seeing your charts from your profile I assume you are a price action man like myself?

The only reason I trade the 1 min is that when there is a strong move going on then the 1 min chart behaves very well and gets me in with relatively small stops. The idea, when I catch one, is to move up through the timeframes as the trade progresses and manage it on the higher timeframes with the ultimate goal of getting the trade onto a Daily chart.

Thats why I am constantly trying to catch a trade in the direction of the daily charts. Hence I am looking for sell opportunities int eurchf, usdchf, which are strongly trending down pairs.

When that happens I could be in for a 20 pip risk (2% of account) and maybe a 1000 pip trade??? 50:1 reward risk? Not bad???? As I use 2% risk on every trade then that would be a 100% return for one trade!!!

Well thats the plan, but of course doing it is another thing all together!!! Of course I keep an eye on the trade and if I see a reversal happening on say the 5 min chart then I come out, but it still gives me some very nice returns.

Last week was my first week using this system "Live" and I increased my account by 25%. Beginners luck I'm sure but time will tell.

The great thing about this system and entering on 1 min charts is I very often don't even lose my 2% because I can get my stop to break even very quickly, so the trade either goes my way or I get stopped out at break even.

I've only just started trading the 1 minute charts so its a steep learning curve, but I feel I am getting there. The secret is to only trade it when there is a strong move going on and the price action is very clear. My favourite setup is the one that Jon started this thread with, that is, wait for a strong move then enter on first pullback.

Look at yesterdays 1 minute chart of EURUSD as a fine example of classic entries on pullbacks.I've marked every entry with a red vertical line clearly showing the right CCI and Stochastic crosses down. By the way I use Hieken Ashi candles as they make the price action so much clearer. Every little line of green candles is an entry signal. Simple.

All I do is put on the trendline wait for CCI to go above 100, this signals a good pullback , stochastics to go over 80. Waiting for these two levels on both these indicators helps to keep me out of false trendline breaks.

When the first red candle appears check for cross downs on CCI crosses down through 100 and stochs cross back down through 80 level.Then if a clear break of the trendline, hit the trigger with a fixed 20 pip stop. Sometimes I move this stop down to last high as soon as I'm in.

The last 2 entry signals on the chart are as good as it gets, memorise them and when you see it, hit the trigger quick and hold on tight!!!!

Move stop to break even when 5 to 10 pips up sit back and watch the fun!!!

If you want quick bucks exit when the next pullback comes along easily identified by 2 or 3 green candles or if you want to take it further use those same pullbacks to add to the trade.

I'm developing an idea to exit on each pullback say after 3 green candles, then as long as that pullback doesn't take out the last lower high re-enter with method above. Obviously if it takes out last lower high or a reversal is on the cards, don't re-enter!!! Keep your money in your pocket. Dead simple!

Using this method on yesterdays EURUSD chart below you could of made 200 plus pips!!!! And God knows how much you would have made if you just added at every pullback?????

But remember very important to pick the right pair for this method, it must be moving down or up strongly!!!!

Well thats it in a nut shell but as I say I am constantly reviewing my trades and developing my plan accordingly.

Any thoughts you have would be welcome. Why not try it on your hourly pairs and let me know how you get on. Here's an idea when you see your hourly signal to enter drop down to the one minute chart like mine and find yourself an entry on the first pullback that comes along? W

Just a thought, have fun. Clive.

Once again thanks for your comments, its very much appreciated.

Come on anyone else got any thoughts or setups to share?

Here's a wedge setting up on EURCHF of course it might break out the top but I'm not interested in that so won't enter that way, be careful if you see that happen as 9 times out of 10 it will come straight back and out the other side!!!

2 ways to enter either

1) Sell as close to the top of the wedge as possible with tight stop above and move to break even asap after handful of pis so by the time it hits the other side if it comes back you are safe.

2) wait for break of bottom trendline then either enter on break or super cautious (or is it super sensible) watch break wait for retest of bottom of wedge and enter.

Of course the problem with latter methoid is it could be gone without you

Have fun!

Careful here this is setting up well but price action a bit slow so be wary of false breakout I would like to see my CCI and stoch come up a bit first.

This probably won't happen properly now until our friends from New York join the party.

Still watching though!

Well stoschastic and CCI are up where I wanted them if they turn down now could be a good entry but if you do go for it move stops to break even very quickly within 5 pips or so!

I'm in!

Stop at break even!

Lets see what happens this time?????

Need this to break out of the bottom of the wedge?

Where's the Calvary?????

Stopped out break even! Too many Indians and no sight of that bloody calvary!!

They always are late to a good fight!!!

THis wedge is getting tight its got to go somewhere? But where??????

Having tried to get in 3 times now and been stopped out 3 times, I think it is time for a change of tact.

Wait for breakout and trade the first pullback, especially if its downwards!

Wait for it to pullback onto the wedge would be a great entry!!

Don't be fooled by this break upwards, I wouldn't go near it with a barge pole!!!

Wait to see if it comes back and gets support off wedge first then maybe enter if you are so inclined but I'm for selling this pair only.

I wouldn't be surprised to see this come back into the wedge and drop out the other side.

But as we don't know which wait for it to show us direction then jump on first pullback!

Thats my plan.

hi to every one


entry at 1.4267

st at 1.4413

tp at 1.3986

Don't rush into this breakl either as price has been a bit up and down just sit tight and wait for the proper break and inevitable retest of support as resistance (bottom of wedge hopefully)

I've got ot dash out and pick up my kids but hopefully will be back in time to catch retest?

Good luck and be patient just wait for first pullback which ever way it goes.

Happy Trading catch you later.

With a wedge this tight we gotta make some money surely? If we can just get the direction right?

I want it down for sure, but the market doesn't care two hoots what I want!

I might take the break now or if I miss it trade the first pullback.

Lets see what happens next?