Today is Non-Farm Payroll release. Be careful how you trade. Market may range leading to the time when the news would be released. So trade with caution!!!.
I see in some pairs that you use trend lines for entries and some you don't use trend lines at all (but use S&R levels). How do you determine which ones to use (trendlines or S&R)? and which ones would you consider a stronger point of entry?
Entry at trendline is good. But entry at support and resistance is better. For those pairs I use trendlines, that was the closes area where price may experience reversal and so I use it. If S/R is the close, I use it.
Ochuko, looking at your charts, it seems you are using 3 S/R lines. S/R on daily fractals, S/R on 1 HourTF and TL.Am I right? About the TL, do you use long term/medium term TL or just the short term TL?Thanks!
Ochuko, looking at your charts, it seems you are using 3 S/R lines. S/R on daily fractals, S/R on 1 HourTF and TL.Am I right? About the TL, do you use long term/medium term TL or just the short term TL?Thanks!
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You are right.
I use all types of trendlines, be it long term, medium or short. But it is based on the hourly time frame. The stronger the trendline (trendline touched 2 times) the better.
{quote} For USDCAD my entry would have been around 1.0783, but price did not retrace to that region. So there was no valid set up on the hourly time frame. {image}
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Hope you made good pips from USDCAD? I was seriously watching it closely but never knew when price left me behind. In the picture below was my purported entry. Hope i an correct about it. Thanks
Hey ochuko, new to the forum and found your thread very interesting and very similar to how I trade, I had a question though about detecting change in market flow. I saw that you had two areas marked already on the chart (thin lines), but left out a few other changes in trend according to breaks in fractals...I guess my question is why leave out all these other (thicker lines) possible changes in trend?
Hey ochuko, new to the forum and found your thread very interesting and very similar to how I trade, I had a question though about detecting change in market flow. I saw that you had two areas marked already on the chart (thin lines), but left out a few other changes in trend according to breaks in fractals...I guess my question is why leave out all these other (thicker lines) possible changes in trend? {image}
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The picture above is just for illustration purpose to demonstrate how to detect change in market flow. All the lines illustrated in the chart are all valid. If I had illustrated all market flow change plus description, it would cause the chart to be over filled. Refer to the live trade examples to get a grip of what change in market flow really is.
Hey guys, I did a video showing you how to determine market flow change on the daily time frame and how to find your trade entry on the 1Hr time frame. In this video, you will watch live trade examples. This is aimed at deepening your understanding of this strategy and applying it daily to your trade. You can choose to co-opt it to your existing trading system or trade it as it is.
Hey guys, I did a video showing you how to determine market flow change on the daily time frame and how to find your trade entry on the 1Hr time frame. In this video, you will watch live trade examples. This is aimed at deepening your understanding of this strategy and applying it daily to your trade. You can choose to co-opt it to your existing trading system or trade it as it is. http://youtu.be/wKmw_v2LgsI
