Pivots + RSX + Stochastic on M15 & M30 - Intraday rangebound

im not a fan of timeframes lower than h1 ; p

anyone here traded the payrolls release? good supply rejected the movement @ 3495 for 20 pips and @3517 for 40 pips, very nice trades

blah blah never trade em, ull lose in the long run....anyway back to topic,this thread isnt about scalping

450 pips ....



it's that easy

it's not scalping.. s&d with overbought rsx on a 30m-1h timeframe :-??

well but youre catching 20 pips on m1 frame, this is scalping

s/d m30 -h1 isnt, true.

jonas

will this be a good set up for short? Or some more time is needed for overbought condition?

hey buddy,

try to zoom out to get a better and clearer overview.

Yes sure. is there any other confirmation required for going short USDCHF?

1.4000 BRN level + major supply level , was good for 250 pips

i dont trade chf pairs anymore since chf bank fixed rates.... theres no volatilitiy at all....better switch to other pairs.

regards
Jonas


ps : never stop asking

....call me chief

missed that one days ago :

simple buy at weekly demand..... damn it ; p

we had massive demand at the 1.000 area, stops would've been below previous low.


1.0000 nice support ofc.

and because charts tell the story i just keep posting them ;-P

i gonna sell again around 0.7900 - 0.8000 level with stops above 0.8050-70

well, phanti beautiful charts like always...but i like to see live trades also (from the other guys too), did you trade the Daily and H4 frames?

Because trading that stuff is much more difficult than the historic charts looks like...

Anyway keep the good work on

ill trade some live trades next week if i have time.

have a nice weekend !

Jonas

It's soooo fuckin rainy and cold outside that im gonna post some stuff about my trading.

How i trade? How i search for possible setups? Why i dont take setup A but take B instead? etc....

first of all i will show you how i start to analyze pair-X. In the following example i will take AUDCAD.

Seriously we need about 1000 pips a month to make a living out of this business.... in my humble opinion. Sure there might be others that need 100 pips a month .... should be ok,if you trade 100 standard lots and more ;-p ....

1000 pips x 1.0 standard lot = ~ 10 000 units - taxes - charges/fees = pretty ok i guess ?! isnt it?

So thanks to god, Chuck Norris or anyone else who created this wide spread of pairs, we can choose the most volatile, comfortable and easiest pairs/setups.

Why stick to EURUSD if there's no real setup ? Why dont just switch to GBPJPY if price reaches a major demand level there to buy some units ?

I dont get it why most traders say s.th like :,, I only trade EURUSD, GBPUSD and EURJPY'' etc..... ok there might be fundamental reasons, but if you dont scalp the M1 or M5 you do have enough time to screen at least 30 pairs.
Me personally only trade the H4,daily and weekly timeframe.

Swingers > Scalpers

I search for the very major setups to get comfortable trading situations and solid and steady profits.
Sure there are days i dont have at least one trade, but there are weeks i have 7-8 trades earning 200-250 pips on average.

Alright, lets go back to AUDCAD.

First of all i open a weekly timeframe of AUDCAD,



what do we see? price reacted to the previous high circled on the left, there were 3 possible ( A turn, B turn and C turn ) sell opportunities at this peak. ( ill go into detail later on the daily and h4 timeframe.)

Price dropped in the past at this level, means sellers exceeded buyers and pa reversed, so we expect that this gonna happen in the future again. At such points we get giga r:r ratios.

Now we got our level where we want to sell by watching the weekly timeframe, so we switch to the daily timeframe to go more into detail,search for more supply/demand levels and possible confirmation patterns of a reversal like a Bearish engulfing outside bar, bearish engulfment or dojis.

i marked the A turn, B turn and C turn levels from the weekly chart with an A, B, and C on the daily. Note : it's the same setup,just a different timeframe and zoom level.



at point A price kissed the previous top close to the pip at 1.0555 (compare it with the weekly level line above .... easy sell at this point because price usually doesnt break such a previous major turning point at the first retest.
We sell, set stop to be as soon as possible,bank a 1/3 and let the other 2/3 run for another 150-200 pips.
B and C turned earlier, showing us that theres no pressure to the upside left. Price made two LHs on the daily as well. So we try to pick a nice price as close as possible to the previous turning point at A and set stops above the previous high.

1.0200 is possible target level, go along the line and check previous action at this level, price turned pretty often. i circled some of them for you.

Now ill show you the single turns in detail on the H4 timeframe.

Lets start with A ( note again that this is still the same setup,just another timeframe and zoomlevel, we still sell the 1.0555 level) :



We got a Doji on the H4 at the high and sell the close of this bar with target at the already mentioned 1.0200 level, right circle shows target hit.
Stop would be above 1.0555 level with a 10-20 pip puffer.

next one is B :

price ranged about 36 hours in between this h4 bar box before it dropped pretty hard and quick towards target lvl.
Our line wouldve been as follows :
We see that a range box was forming right below the major supply level at 1.0555, so we sell high in the box to get a good price.

stops again above 1.0555 level. Ill show you the bix in the h1 chart :

small circles possible short entries in the mentioned range right below the 1.0555 level ,



and last but not least setup c :



left box is b range. then we got another box at c with 2 possible shirt entries, bars circled black. right fat circle wouldve been our target again.

so we had 3 trades for approx. 300 pips each. easy trading, easy stop level, safe setups. if price dont reach target we have at least a BE trade in 9/10 cases.


Please ask any

regards
Jonas

Awesome Dude! Thanks for the hard work...I have a couple of questions...

Well the trading the H4 and D1 is honestly very hard for me. I try this for a few times, but dont`t get confident yet whit it. The challenging thing is still the big SL and TP that you have to set for this timeframes. My account is still very small ( i trade micro lots ) and my moneymanagement don`t allow me to set SL bigger than 50-60 Pips. What do you think about that?

Do you use hard SL and TP in your trading or set stops every time over last highs/lows?

Do you use trailingstop in your strategy?

The other thing is holding on a position very long to finally hit the Target...i don't have the best patience yet ...but thats a thing a have to work on me

Anyway, great Post! Honestly, i am sure its very helpful for all the other guys, because for me it does... I see many great traders in this thread, i have learned a lot in the last days and its make me hopeful to use this system furthermore.