Rainbow Magic with CRB charts

Nice little 15 pip scalp this morning. As you can see from the chart this trade was based on a break of resistance down following a huge down move in US session. Reason to take the trade was: I checked 1hr charts and it gave a long down candle with a series of small candles forming a downward arc. This formation often results in a break of the large candle following the direction of the arc. Trade exit at the 100% fib level of yesterdays market. Yes it could go further but I expected it to pause and it did, so I took my profits.

I am a scalper thru and thru.

Todays trade. Thought I'd trade naked just for fun. Nice 10 pips. I waited till the market went sideways. Placed a buy and a sell stop. Market took up my sell stop. Thank you. 10 pip target because I've a busy day ahead so I wanted a quick trade. Easy peasy. Off till next week.

Today's trade. Nice little 8 pip scalp whilst doing other things. Trend line break heading for a breakout trade. Took my money and ran.
Till next time.

Two trades this morning. First one a small loss. I exited when it wasn't following through. Second one. Nice little trade made my wages for today.
Now off to do other work. Bye.

Well here's my trade AUD/USD today. I saw that the RBA governor was going to speak. I had no idea which direction the market would choose. So I waited till it went flat and straddled the market. 5 pip trailing stop 14 pip take profit. Came back after lunch to see that there was another nice profit (full 14pip) in my account. Cancelled the inactive trade. Off to do other things now.

I'm getting slack. Here's yesterdays trade marked in blue box. +10% to my account again.

Today's AUD/USD Trade nice 16.5 pips. All late Asian market. Took till Open of Frankfurt to mature. But it made nice Pips

AUD/USD. Looks like a slow start to the day. On 1hr I see a possible triple top with some TDI divergence, also an ascending triangle and note that the last 5 hours have been inside bars.
Market is waiting..........in 2 hours CPI figures come out. Expect some action then. Couple of ways I could handle this. Wait till market moves or place a straddle above and below the 1hr outside bar and let market decide the outcome.My bias is for an up move due to ascending triangle..... on the other hand.......need more data to make a decision.

OK so here's what I decided to do. I placed a straddle trade above and below the 1hr outside bar Hi and Lo. I caught the spike nicely. The sell trade was activated and I cancelled the up trade after gaining a nice 25 pip profit. Take the rest of the day off.

Todays buy trade on A/U. Took profit too early again. But none the less up 10% on capital again.

Today's trade. Sell A/U exit at fib expansion. Left a lot on the table again. However profit is profit, better in my pocket than elsewhere.
Thinking this thru perhaps better exit strategy would be move stop to B/E at fib expansion and then trail it from there or keep original bigger target of next resistance level in place.

Today's trade nice profit again on home approvals announcement.

Today's A/U trade. Simple method. Check the charts all time frames. Then check indi's note the signal take the trade. Doubled my account in 15 days.

Today's trade a 10pip buy on A/U Took profit at M2 level when market seemed to stall.

The backbone of my current system "See yellow and go opposite":

OK attached are all the indicators and the template. Download the zip file and extract it. If you don't know how to extract files Google it! (Click on the file and your computer should work it out for you!!)

Indicators go into the Mt4 indicator file.(click on : My Computer, Local Disk C, Program Files, your MT4 folder, Indicators).
Templates go into the MT4 template file (note this is NOT the template file found within the indicators folder it is a separate file found under your MT4 folder when you first open it from your My Computer, Local Disk C, Program Files, your MT4 folder. Click on that folder and you will see Templates.)

Trading method.
I only trade AUD/USD Asian session 5 min charts. (This suits my lifestyle, other sessions and currencies work just as well, practice a while you'll get it!) From this template (see yellow go opposite.tmp). I look for movement around the market opening times especially. I'll wait around awhile if needed.

However I also have basic charts just showing candles on A/U all the way up to 1 day. When I start trading each day I look at them all and draw trend lines etc to get a big picture of market direction. I also use Forex Factory Calendar to check what announcements are coming up each day. Yes I do trade announcements.

Once I've got the picture in mind I look at my AUD 5min chart with template.
Method is simplicity itself:

Wait for semafor yellow dot to appear, I know this repaints.......It just gives a heads up that a reversal may be about to take place. On a big trending day that yellow dot will move up or down all day. Deal with it. Change your strategy for big trends if you need to. It's nice if the yellow semafor coincides with something else: big round number, trend line, fib level, announcement etc.

Once that dot is there start looking for a change in trend, long or short term, all I need is 10pips. This is confirmed by MA candle changing color and Trendline MTF histo (at the bottom of your chart changing color at the same time, yes colors are to be the same!). Wait for the bar to close as it may change color again. Once bar is closed both MA bar and histo stay the same color. I check traders dynamic index; is it in agreement ie red above green for a buy, red below green for a sell. If there is divergence in the TDI as well that help me feel even more confident in the trade. (divergence is price making new high but TDI NOT making new high for a sell and the opposite for a buy. Draw lines on your chart. It helps.)

I place my S/L a few pips above/below the yellow semafor and my TP is about 10 pips or the next pivot level (pivot levels are the horizontal lines on your chart labelled M,S or P). Alternatively use your fib expansion tool on the last hi/lo swing (you work out where that is!!!)and it will also give you a target. Position size - well depends on your appetite for risk. Not all trades win but most do. I'll martingale my next trade if the first looses. Takes balls, get some!

That is the backbone of my trading. I make my profit and quit for the day, life is too short to spend starring at a screen all day. Go find something else positive to do.
Yes there are other trades I take. If market is sideways I'll straddle trade it, especially announcements, also I look for breakout trades, but the amazing thing is how often these trades are also signals given by the "see yellow go opposite" indi's.

Blessings to all.

First trade a looser. (Didn't pay attention to the fact that an announcement was due......must remember to only do one thing at a time multi tasking is not my forte!!)
Second trade on retail figures release made the loss back and gave me a profit.
This trade was an example of the change in strategy which is required if the see yellow go opposite method didn't work. What I did here was when it seemed that my trade would not come to fruition I placed a with the trend trade the other direction. All good.

Nothing new. Just storing my file where I can find it.

I missed this trade today. But would like to note the setup.

Look at the blue rectangle on the chart. Market flat and TDI flat.
As the green line in TDI broke out of TDI blue volatility band to the downside this indicated an excellent entry point for the trade. 39 pips at least. Very nice.

Nice little scalp on change of trend. Exit on first hesitation.

Dealing with a trending market. Using see yellow go opposite method. This method will give false signals in a strongly trending market.
The best way to deal with this is to sin bin yourself from trading if your trade fails. Just stop for the session or day and try again next session or day.
The attached chart shows two signals for the Asian session so far. Both were valid at the time. I took the first one and it failed. Applying the sin bin rule avoided the second failure as the market was trending down.(obvious in hindsight but not at the time!!!)
If I have time will come back and look at charts in Frankfurt open.