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Price Action Trading with Indicators! The Freebie System

  • #6,221
  • Feb 1, 2012 12:51pm Feb 1, 2012 12:51pm
Quoting iwan73
My H4 candle has closed just 10 min ago. It is HH (only few pips but HH anyway) than previous semaphore.
How manage this situation because LH, LL sequence is disturbed now?
I think we should wait for clarification (new LH) to start looking for short on M15 TF. Am i right?

Dred, if i am asking questions in wrong way tell me how to do it, because as i see it is so easy to be moved to ignore list. I have read first post milion times and taken notes from whole thread, but still cant catch this "something" to fully understand system.
In my opinion we are up against solid resistance at 1.3215. I would not class that 4hr swing as a HH. You need to wait for a LH on the 15m chart to begin thinking about shorting.

D
  • #6,222
  • Feb 1, 2012 5:12pm Feb 1, 2012 5:12pm
Last High on H4 is 4 pips higher than previous. Can we say that it is HH (if it would be lets say 20 pips we can of course)?
To enter Short should we wait for clear LH on H4 and on M15 next LH and other rules ?
OR
LH and other conditions on M15 it would be enough to enter S?
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  • #6,223
  • Edited 8:54pm Feb 1, 2012 7:19pm | Edited 8:54pm
So far, all in green. Will continue to also sharpen skills in the simulator as well as live trading.
BE on g/u, +pips on e/u and a/u. Seems a little more challenging to trade Asia session
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  • #6,224
  • Feb 2, 2012 2:53am Feb 2, 2012 2:53am
I'm getting discouraged, this system is not mechanical as it seems.
I can't find logic behind my trades, thus i don't know how to correct them.
It's nice to see people come in this thread and get everything right on the first try while i can't.
  • #6,225
  • Feb 2, 2012 3:09am Feb 2, 2012 3:09am
Quoting trashPIP
I'm getting discouraged, this system is not mechanical as it seems.
I can't find logic behind my trades, thus i don't know how to correct them.
It's nice to see people come in this thread and get everything right on the first try while i can't.
Been there myself but a bit more screentime and you start to see the leaves from the trees. Make sure you understand the cycles within cycles if you know what I mean. It is not completely mechanical but does give you a great edge. If you struggling with trend add a 20 and 50 ma to the 4hr chart.

Its a great system and once you get the hang of it you will be able to trade almost naked charts (albeit with HA)

D
  • #6,226
  • Feb 2, 2012 4:42am Feb 2, 2012 4:42am
Quoting Cubbybgood
The reason I'm posting is that I couldn't agree more about what you've been saying about repainting. So people just don't understand that repainting indicators can actually been useful in trading if used correctly. My system threads are full of the same kind of complaints about repainting. I mean if one indicator out of the 5 in my system is repainting it's like all hells broken lose! It's ridiculous!
I don't get it either. Repainting indicators are not a problem. They are reality. If the reason you are against repainting because of testing then just download a simulator and then you can test it like you would have seen it live.
  • #6,227
  • Edited 2:07pm Feb 2, 2012 9:32am | Edited 2:07pm
We have HL on D1 (green dot) so trend is UP. Entry on H1. The only think i am worry about is LH, LL sequence on H1 TF.

I quite sure i should wait for PA (HL on H1) to enter.
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  • #6,228
  • Feb 2, 2012 12:04pm Feb 2, 2012 12:04pm
Just wanted to share......Up 6.5% for the day. Made a couple of mistakes. And got out a couple of times when I lost faith only to be thinking of the pips I lost out on. But hey--6.5% dang--

Thanks D
  • #6,229
  • Feb 2, 2012 12:20pm Feb 2, 2012 12:20pm
Quoting rossobonks
Been there myself but a bit more screentime and you start to see the leaves from the trees. Make sure you understand the cycles within cycles if you know what I mean. It is not completely mechanical but does give you a great edge. If you struggling with trend add a 20 and 50 ma to the 4hr chart.

Its a great system and once you get the hang of it you will be able to trade almost naked charts (albeit with HA)

D
Thanks for the support,i'm going to look deeper into Elliot Wave theory,so i can understand what's happening and why i'm wrong.
  • #6,230
  • Feb 2, 2012 1:39pm Feb 2, 2012 1:39pm
Well guys here's my Nzd/Usd daily chart. As you will see im still waiting on my sell signal so hopefully it won't be much longer before it happens. I have a gut feeling my sell signal will come anyday now cause I need some bill money!!!!
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  • #6,231
  • Feb 2, 2012 2:46pm Feb 2, 2012 2:46pm
Quoting Checkz
Well guys here's my Nzd/Usd daily chart. As you will see im still waiting on my sell signal so hopefully it won't be much longer before it happens. I have a gut feeling my sell signal will come anyday now cause I need some bill money!!!!
AU is setup very similar. Potential turning point on the weekly chart so dropping down to the daily gives a similar chart to NZDUSD. Red heiken and a break of the candle and I will be in. Could NFP day tomorrow be the trigger for a shorting week next week.

D
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  • #6,232
  • Feb 2, 2012 6:05pm Feb 2, 2012 6:05pm
Quoting trashPIP
I'm getting discouraged, this system is not mechanical as it seems.
I can't find logic behind my trades, thus i don't know how to correct them.
It's nice to see people come in this thread and get everything right on the first try while i can't.
BLAH BLAH BLAH.........how about posting a chart with your trade..not a past chart of a trade you might have took...A LIVE TRADE. You say you can not get it but yet you can not even show how you are trying to use the system.

If your not going with the trend or you can not see the trend with a indicator then you need to stop trading and start reading. Learn to identify trend......then learn to use this system to define your entry into the market.
  • #6,233
  • Feb 3, 2012 1:27am Feb 3, 2012 1:27am
Long entry. Price has made HL(last green semaphore)
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  • #6,234
  • Feb 3, 2012 5:14am Feb 3, 2012 5:14am
Quoting Dredding82
BLAH BLAH BLAH.........how about posting a chart with your trade..not a past chart of a trade you might have took...A LIVE TRADE. You say you can not get it but yet you can not even show how you are trying to use the system.

If your not going with the trend or you can not see the trend with a indicator then you need to stop trading and start reading. Learn to identify trend......then learn to use this system to define your entry into the market.
have you try making a EA with your system?
  • #6,235
  • Feb 3, 2012 10:33am Feb 3, 2012 10:33am
I try to show you how i understand this system. Tell me if i am on right way.

Left chart is TF=D1. I see down trend because of LL,LH,LL,LH sequence.
Thats why i try to find short trade on lower TF.

Right chart is TF=H1. It is HL, HH sequence what is not good for short trades. To have an opportunity to enter short we need a down move (white lines on screen) and next up move to make LH (red cycle on screen). And in yellow rectangle we can enter short if it will be semaphore, red candle, stoch crossed.
Am i right?
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  • #6,236
  • Feb 3, 2012 12:50pm Feb 3, 2012 12:50pm
Quoting iwan73
I try to show you how i understand this system. Tell me if i am on right way.

Left chart is TF=D1. I see down trend because of LL,LH,LL,LH sequence.
Thats why i try to find short trade on lower TF.

Right chart is TF=H1. It is HL, HH sequence what is not good for short trades. To have an opportunity to enter short we need a down move (white lines on screen) and next up move to make LH (red cycle on screen). And in yellow rectangle we can enter short if it will be semaphore, red candle, stoch crossed.
Am i right?
that sounds like a valid entry, however i don't think the LL,LH,LL,LH sequence isn't necessarily "required" by the system, you just trade with the trend and this is one convenient way of determining the most immediate.
  • #6,237
  • Feb 3, 2012 1:28pm Feb 3, 2012 1:28pm
Quoting neuron
i don't think the LL,LH,LL,LH sequence isn't necessarily "required" by the system
I dont mean that this exact sequence ( LL,LH,LL,LH) is necessary to state it is down trend. I said this kind of sequence is typical for down trend, not for up trend or ranging market.
  • #6,238
  • Feb 3, 2012 2:09pm Feb 3, 2012 2:09pm
Quoting iwan73
I try to show you how i understand this system. Tell me if i am on right way.

Left chart is TF=D1. I see down trend because of LL,LH,LL,LH sequence.
Thats why i try to find short trade on lower TF.

Right chart is TF=H1. It is HL, HH sequence what is not good for short trades. To have an opportunity to enter short we need a down move (white lines on screen) and next up move to make LH (red cycle on screen). And in yellow rectangle we can enter short if it will be semaphore, red candle, stoch crossed.
Am i right?
Iwan

I agree with you 100%. This is how I trade this system albeit on the 15m with 4hr chart.

D
  • #6,239
  • Feb 3, 2012 3:33pm Feb 3, 2012 3:33pm
Quoting rossobonks
Iwan

I agree with you 100%. This is how I trade this system albeit on the 15m with 4hr chart.

D
Thanks for reply.
But what about a situation marked with A letter on 1H chart. It is HL, HH and... big drop. There is no LH to indicate weakness.
  • #6,240
  • Edited 4:25pm Feb 3, 2012 3:58pm | Edited 4:25pm
Quoting iwan73
Thanks for reply.
But what about a situation marked with A letter on 1H chart. It is HL, HH and... big drop. There is no LH to indicate weakness.
I think it occurred in a smaller timeframe within the H1 candle


M15:
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