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Keroro0o0o's S&D + PA trading

  • #101
  • Dec 20, 2013 11:02am Dec 20, 2013 11:02am
Quoting Balhana
Sold GA and closed 2/2 for +90 pips. {image} {image} {image} {image}
Oh man Balhana, you really are a freakin machine!!! hats off for your amazing trading!!

@gembel, I bliv u're applying Alfonso's trading methods, and using his indicators. Well, I'm not a big fan of charts with plenty of "arts". It really clouds my vision/judgement. Also, the EU trade you posted, you drew a falling wedge, and price broke out of it. That is a PA for a long (rising wedge = sell, falling wedge = buy), but you took a long. I'm don't really understand your charts/thought process. And the USDX you showed, the bull trap to the supply you drew didn't look like a strong one to me, more like a spike. PA is important, but they show alot more clues when they're at strong/significant SD zones. Always keep that in mind, and it'll do wonders to your trading
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #102
  • Dec 20, 2013 11:10am Dec 20, 2013 11:10am
Quoting Balhana
Sold GA and closed 2/2 for +90 pips. {image} {image} {image} {image}
Maybe next week (if it gives me a chance....)
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  • #103
  • Dec 20, 2013 11:07pm Dec 20, 2013 11:07pm
Quoting keroro0o0o
{quote} well noted. I noticed you draw the horizontal lines based on important Weekly/Daily/H4 candle closes and use different colors to differentiate. Really insightful and logic trading from you. Thanks for the tip
Let me explain my approach called "TIME" including how to draw horizontal lines based HTF candle closes.

(1) Top-down analysis

"Entry based on LTF PA @ HTF SD - High Probability"

I believe your trades should be based on LTF PA at HTF SD in order to increase your win rate. Do intraday traders need to check monthly charts? I think yes. Monthly/Weekly/Daily zones are too wide for intraday traders (like me) to hide SL. Then how to use HTF SD?

Take a look at the current monthly chart of EURJPY.
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  • #104
  • Dec 20, 2013 11:09pm Dec 20, 2013 11:09pm
Quoting Balhana
{quote} Let me explain my approach called "TIME" including how to draw horizontal lines based HTF candle closes. (1) Top-down analysis "Entry based on LTF PA @ HTF SD - High Probability" I believe your trades should be based on LTF PA at HTF SD in order to increase your win rate. Do intraday traders need to check monthly charts? I think yes. Monthly/Weekly/Daily zones are too wide for intraday traders (like me) to hide SL. Then how to use HTF SD? Take a look at the current monthly chart of EURJPY. {image}
I'm all ears!! here comes the golden nuggets
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #105
  • Dec 20, 2013 11:15pm Dec 20, 2013 11:15pm
Quoting Balhana
{quote} Let me explain my approach called "TIME" including how to draw horizontal lines based HTF candle closes.
(2) Impactful patterns

Try to find strong impactful patterns like "Bull/Bear Traps", "Whipsaw Engulfing", "Spike Base", "Quasimdo", and so on.

You can see two bull traps on EJ 30M.
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  • #106
  • Dec 20, 2013 11:26pm Dec 20, 2013 11:26pm
Quoting Balhana
{quote} (2) Impactful patterns Try to find strong impactful patterns like "Bull/Bear Traps", "Whipsaw Engulfing", "Spike Base", "Quasimdo", and so on. You can see two bull traps on EJ 30M. {image}
(3) Momentum analysis
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  • #107
  • Dec 20, 2013 11:42pm Dec 20, 2013 11:42pm
Quoting Balhana
{quote} (3) Momentum analysis {image}
(4) Engulf

Need to check bullish/bearish engulfing before pulling the trigger.

(Bearish engulfing in the EJ case was made too quick to get in. I couldn't catch it. I took UJ short instead. )
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  • #108
  • Dec 20, 2013 11:49pm Dec 20, 2013 11:49pm
Quoting Balhana
{quote} (4) Engulf Need to check bullish/bearish engulfing before pulling the trigger. (Bearish engulfing in the EJ case was made too quick to get in. I couldn't catch it. I took UJ short instead. ) {image}
very educational Bal. Thanks alot for your time and efforts in posting. Deeply appreciated.
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #109
  • Dec 21, 2013 12:00am Dec 21, 2013 12:00am
Quoting keroro0o0o
{quote} very educational Bal. Thanks alot for your time and efforts in posting. Deeply appreciated.
You are welcome. I hope it helps.

Think about it. I still see many many people take so-called patterns blind without momentum analysis.
  • #110
  • Dec 21, 2013 12:01am Dec 21, 2013 12:01am
Quoting Balhana
{quote} You are welcome. I hope it helps. Think about it. I still see many many people take so-called patterns blind without momentum analysis.
It sure does.
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #111
  • Dec 21, 2013 12:55am Dec 21, 2013 12:55am
Quoting keroro0o0o
{quote} It sure does.
One more example of my TIME approach.
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  • #112
  • Dec 21, 2013 8:58am Dec 21, 2013 8:58am
nice chart balhana.
thx for your explanation, really open my mind now..
keep posting yo..
  • #113
  • Dec 21, 2013 10:48am Dec 21, 2013 10:48am
Quoting keroro0o0o
{quote} It sure does.
many thanks for explaining!
  • #114
  • Edited 1:11pm Dec 21, 2013 1:00pm | Edited 1:11pm
Hi Keroro0o0o and Balhana
Nice tip for timing entries

Just an idea I use is when drawing htf s/r lines I drop into line mode for the 1st view with a quick check with candles after but I can see instantly breaks closes and re-tests in line mode been proving very fruitful lately njoy and thanks D

I dont often draw that many added 1hour as an example

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  • #115
  • Edited 10:01pm Dec 21, 2013 9:47pm | Edited 10:01pm
MT4 new version very great.
It have mt5 features.
http://forum.mql4.com/59477
  • #116
  • Dec 21, 2013 10:00pm Dec 21, 2013 10:00pm
Quoting photize
Hi Keroro0o0o and Balhana Nice tip for timing entries Just an idea I use is when drawing htf s/r lines I drop into line mode for the 1st view with a quick check with candles after but I can see instantly breaks closes and re-tests in line mode been proving very fruitful lately njoy and thanks D I dont often draw that many added 1hour as an example {image} {image}
Hey Photize, indeed using line charts to draw SR's will make things alot easier, but it's always a good idea to draw first using line charts, and switch back to Candlesticks to spot multiple touches by wicks, and also candle clusters. those are the ones that we wouldn't want to miss out. Line chart simplifies things, but at the same time, they miss out too much information. Use it to as a base to draw your lines, and use Candlestick charts to fine tune them.

Hope it makes sense. We learn together, and we share together. keep'em coming guys!

Chao
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #117
  • Dec 21, 2013 10:11pm Dec 21, 2013 10:11pm
Quoting entheos
MT4 new version very great. It have mt5 features. http://forum.mql4.com/59477
Hey entheos,

very impressive build I must say, PLENTY of updates. Look forward to the official release.


Thanks for the info.
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #118
  • Dec 22, 2013 2:41am Dec 22, 2013 2:41am
hiii keroo and balhana...
happy weekend...

just wanne drop some analysis regarding balhana explanation yesterday...
i would like ask, did you always put bull close candle(monthly) line as resistance if price move from below to upper....or viceversa if price goes down,
bear closed candle(montly) line as support....

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hopefully u guys understand what i mean..(sry for my bad english)lol
CMIIW..
thx & rgds
  • #119
  • Dec 22, 2013 3:06am Dec 22, 2013 3:06am
Quoting keroro0o0o
{quote} Hey entheos, very impressive build I must say, PLENTY of updates. Look forward to the official release. Thanks for the info.
You don`t have to wait official release.
I can`t find any bugs.
I did trade with new version build 563 last week.

1.tool-option-sever: demo.metaquotes.net:444 <----input.
2.restart.
3.new account open.you must select metaquote server.
4.If platform completed upddate, It will restart automatically.
  • #120
  • Dec 22, 2013 7:05am Dec 22, 2013 7:05am
Quoting gembel
hiii keroo and balhana... happy weekend... just wanne drop some analysis regarding balhana explanation yesterday... i would like ask, did you always put bull close candle(monthly) line as resistance if price move from below to upper....or viceversa if price goes down, bear closed candle(montly) line as support.... {image} {image} {image} hopefully u guys understand what i mean..(sry for my bad english)lol CMIIW.. thx & rgds
I don't have any rigid rules. You can check how prices reacted to such engulfed zones using plenty of charts that are readily available.

Let me give you an example. Take a look at the chart below.
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