True Trading Tactics

Ah, that makes sense, since I did watch a Webinar or 2 of his, via CompassFX, got another 6 indicators if anyone interested, not sure what they all do...

use at your own risk as they say

Signed up just for this thread, so I will be watching and learning with interest.

For the first time in ages, I cant wait to spend Sunday afternoon back testing!
Thank you Kraven

Thanks for the share Erebus (and your right use them at your own risk)

but remember what i said in post 39 about indicators...i would like to keep this simple and true.

No problems liamg, glad you and a few others like it. Remember there is no 'holy grail', there will be losses, also some of the best hrly trades happen after the ADR has been exceeded and a retracement is due.

Thanks .
Subscribed .
Simple approach . Nice.

mixter.

Thanks for sharing this system kravin I have been going back through a few major currency pairs on the 1 hour just looking at the reversal candle and am amazed at how consistent it works .You may get the odd double bottom ( or top ) after the reverse candle but that is just further confirmation to reenter if you get stopped out .The whole approach makes sense from a supply demand perspective as well please keep sharing

nice and clean method - well most likely it looks like a trigger. but combined with some s/r zones can be very powerfull

keep up the good work

thanks for the positives comments...I post here only to help others, so even if you take one thing away from this thread then your on a winner.

here are 2 upto data random charts (USD/TRY lol)...one is the daily the other the hourly. What i'm trying to do in the hourly is to show the need to look for the ADR being hit or at the very least only trade a 'reverse candle' if it's at the current high or low for the day . Now i'm not trying to predict the high or low, i'm taking the reversal candle only if it's at the high or low of the day at that time.

***********forgot to add this....On the daily when the day closes after entry, if you move to BE...you'll have a few BE's, a few big wins but only a few, if any losses***************


good luck with your trading this week. be weiry of the small sunday candle and get involved, post some of your entries here.

same principle applied to the GU 1hr....only if the reversal candle is at the current high or low of the day...the numbers are pips the move achieved at the max of the move for the day (ish). not saying you'd get them all

as i said i'm not a fan of indi's but the yellow line is 100EMA..it's going up nicely at a good steady angle indicating an uptrend....I use it sometimes to increase my targets...e.g. in the pic it would keep me in Buy's longer and and Sell's shorter

Really good point, if we use this awesome system with s/r and some volume knowledge it will be extremely effective.

Just to be clear... about the ADR Indicator posted in here, as shown by Purple arrow on chart, please watch the Price Action during the day, to learn what it can do for you.

From the open, it will draw 2 dotted lines, 1 from the CURRENT Low to projected HIGH, the other from CURRENT High to projected LOW.

When price moves during the day, obviously, the CURRENT High or Low will change, hence 1 of the lines will move at any one time during the day.

IF the ADR is met, the line will go SOLID to indicate this, your trading action is up to you.

I have shown another ADR indicator on this chart, all it does is show the ADR projected from the open, half up & half down, sometimes, price is contained by this, but sometimes not.

Good luck, E.

has anyone has a WEEKLY ADR indicator??

Hello

Please can you tell me when you say daily high or low you mean previous day high or low or high low based on ADR?

Is ADR high and low used in daily charts or just 1hr?
Thanks for your great thread

Mohamed

adler i mean if we get a reverse candle and it's at a high of that day then enter it...however if the pair has made a high, then drops and then comes up to make a lower high but we have a reversal candle then be cautious. same for lows.

now if we have a good run that day and the ADR is hit and we get a reversal candle then it's more likely that the big move of the day is over and we are about to reverse.

adler the ADR has to be used on the 1hr, it'll not work on the daily as it the average daily range.

If anyone has an AWR...average weekly range then please post

hope this helps

Is there any statistical proof that price is likely to reverse if it exceeds the ADR?
If not (and I don't believe there is) why worry about it?

I think you have happened onto a good, simple and predictive price pattern. I'm also afraid it will wind up being lost in a maze of indicators.

The tweaking squad has moved in.

bill if all the indicators start appearing i'll ditch the thread. i want to keep this simple, but logical.that's why i brought it to forumers attention.

there probably isn't any proof, just common sense. if the ADR is 100 and we get a reverse candle at 150 then i'd be confident of a good move..remember 2 or 3 pairs, two or three good trades each week = . but as you said why worry, if you go through the GU 1hr for xxxx days you'll be hard pushed to find one or two clear loosers.

Entered short couple hours ago. Will keep the trade open until a new reversal candle or no newer lows.

i tend to wait until sundays/monday mornings over...gapping,order fills etc.
i'll start tomorrow but good luck

if you exit at the first 'wrong' candle then you may want to wait until it's closed and then if the next candle breaks it's high exit. as sometimes its a small pullback, then continues down again...but profit taking is an individual call, hell 20pips is good at this time.

Hi Kraven

Thanks for sharing. In the attached EU 1H chart, please ref to the circled area - would that be a valid short entry (resulting in SL)?

Thanks for clarifying

as i stated i wouldn't trade yet. here's my EU1hr and no trade there., note even though you'd think all 1hr charts would look the same they don't, note your second candle today finished down (red), mine up (green)

sorry msood, ignore the last pic...

the area you circled would be a failed sell, but i'd be looking to exit at the top of the 'breakout candle' for about -15pips......simply the power of the previous move would have made me cautious...beside the move at the bottom could have netted you 70pips