Praxis Step-by-Step Method

Hello traders.

I will be posting charts and detailed explanations here as I go on my trading journey using a unique combination of price action, TD Sequential, harmonic patterns and Elliot wave theory.

Some of these well known patterns are confusing at best so I decided to modify them into these:
1. One-Step
2. Two-Step
3. Three-Step
4. Spring

I will use the daily charts as my major time frame to spot potential entries and plot support and resistance lines

while I will use the 4H and lower as my entry time frame(s) where i plot my fibonacci and TD sequential and watch out for confirmations in terms of pin bars, chart patterns etc.

this Method is a simple retracement that moves in a counter trend fashion.

we look for a viable entry going down to a lower time frame.

we look out for pin bars and fibonacci confluence. we use the TD sequential to look out for consolidations and breakouts from the TDST

LONG

1. we identify the short term trend direction (up)
2. wait for a retracement of at least 3 candles before the formation of a pin or any reversal candle pattern you know
3. verify that the reversal pattern is higher than a previous swing low point (preferably at a fib retracement of 38.2%-78.6% of the prior up move)
4. you can buy at the next candle open
(reverse rules for shorts)

this is the One-Step method in a nutshell. going down to the lower time frame will involve some tweaking that we will see as we move along together.

thanks