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Simple Market Flow Trading System

  • #101
  • Jan 11, 2014 5:39am Jan 11, 2014 5:39am
wow! great video and strategy. Its so simple. Thanks for sharing.
  • #102
  • Jan 11, 2014 6:44am Jan 11, 2014 6:44am
As a follow up on this beautiful and simple strategy, here is my proposed plan /analysis for the week. Will post more of these as i get through with them. thanks everyone, your criticisms are highly welcomed.
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  • #103
  • Jan 11, 2014 7:06am Jan 11, 2014 7:06am
Hi Ochuko, nice trading plan, just reading through, haven't got to the TP part yet.

With regards you daily bias, what is actually going on is a confirmed weekly SR...

let me post a chart to explain.

here's your 2 charts from earlier of EU and USD/CHF showing daily bias change:
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and here's the same 2 charts on weekly TF
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tradewith60
  • #104
  • Jan 11, 2014 7:17am Jan 11, 2014 7:17am
Quoting 60minuteman
Hi Ochuko, nice trading plan, just reading through, haven't got to the TP part yet. With regards you daily bias, what is actually going on is a confirmed weekly SR... let me post a chart to explain. here's your 2 charts from earlier of EU and USD/CHF showing daily bias change: {image}{image} and here's the same 2 charts on weekly TF {image}{image}
Hi 60minuteman, i think i can give a reply on the issue of TP. Ochuko is in video posted, specifically informed and reiterated the use of support and resistance as take profit or on the other way round, you could determine your TP by multiplying the number of pips of stop loss by 2, though that would depend on your risk to reward ratio.

This is just a temporary response while Ochuko answers by himself.
Thank you.
  • #105
  • Jan 11, 2014 7:48am Jan 11, 2014 7:48am
Here is another analysis... Thank you
Attached Image (click to enlarge)
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  • #106
  • Jan 11, 2014 8:23am Jan 11, 2014 8:23am
Quoting omoluabii
{quote} Hi 60minuteman, i think i can give a reply on the issue of TP. Ochuko is in video posted, specifically informed and reiterated the use of support and resistance as take profit or on the other way round, you could determine your TP by multiplying the number of pips of stop loss by 2, though that would depend on your risk to reward ratio. This is just a temporary response while Ochuko answers by himself. Thank you.
wasn't actually a question Omol but thanks for your reply anyway
tradewith60
  • #107
  • Jan 11, 2014 8:30am Jan 11, 2014 8:30am
Quoting ochuko
Trade Set Up For GOLD This trade have already triggered Bullish set up {image} {image}
i like this strategy very much

but i have a question about this example

in the 1 hr time frame why you use support line only and don't use the trend line also as the previous examples ???
  • #108
  • Jan 11, 2014 8:39am Jan 11, 2014 8:39am
Quoting ochuko
AUDCAD Bias: Bullish {image} {image}

that one too
why we don't consider the trend line in the 1 hr time frame ???
  • #109
  • Jan 11, 2014 8:41am Jan 11, 2014 8:41am
Quoting ochuko
See a good example on EURUSD Price is close to resistance A bearish pin bar has formed We would be placing a trade based on that pin bar. {image}
sorry for my many quistion i only want to understand the strategy completly

the entry here is below the low of the pin bar or from the close ???? and where is the stop ??
  • #110
  • Jan 11, 2014 8:47am Jan 11, 2014 8:47am
Quoting lucariga
{quote} Crystal clear. What are your rules for Pin Bars entry? Breakout of the low? SL above Pin's high?
sorry this seem to be the answer to my third quistion
  • #111
  • Jan 11, 2014 8:48am Jan 11, 2014 8:48am
Quoting 60minuteman
{quote} wasn't actually a question Omol but thanks for your reply anyway
You welcome.
  • #112
  • Jan 11, 2014 8:58am Jan 11, 2014 8:58am
Quoting ochuko
EURNZD Market Flow Set Up {image} {image}

in this example in the 1 hr

before the pin bar that trigger the trade there was a big bearish engulf candle ? why you didn't consider this engulf as the signal and take the pin bar instead ??
  • #113
  • Jan 11, 2014 9:03am Jan 11, 2014 9:03am
Quoting ochuko
NZDCAD Market Flow Set Up {image} {image}
this one too

why no trendline on 1 hr ???
  • #114
  • Edited 9:59am Jan 11, 2014 9:04am | Edited 9:59am
Quoting zelenko
{quote} in this example in the 1 hr before the pin bar that trigger the trade there was a big bearish engulf candle ? why you didn't consider this engulf as the signal and take the pin bar instead ??
Because there wasn't a break of the engulfing candle and even if there was the SL would be too large before hitting the first support level. Hope this helps.
  • #115
  • Jan 11, 2014 9:13am Jan 11, 2014 9:13am
Quoting ochuko
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.
i guess this point answer many of my questions but can you please illustrate it more
  • #116
  • Jan 11, 2014 9:28am Jan 11, 2014 9:28am
Quoting ochuko
here is a live trade for eurnzd. Though the first trade was lost. But re-entered to cover lose and in profit now. {image}
what is the entry here ??? The close of the harami ( inside bar ) ???
and what is the stop ?? Is it above the high of the harami ?? How many pips above the high ??
  • #117
  • Jan 11, 2014 9:33am Jan 11, 2014 9:33am
Quoting stevepatt
{quote} because there wasn't a break of the engulfing candle and even if there was the sl would be too large before hitting the first resistance level. Hope this helps.
good points thanks
waiting for the master replay also
  • #118
  • Jan 11, 2014 9:58am Jan 11, 2014 9:58am
nice work ochoku will follow the thread very simple to see but bit difficult to apply.

are you using any indicator for trend lines or you are doing it manually.

thanks
MRMALIK1
  • #119
  • Jan 11, 2014 10:18am Jan 11, 2014 10:18am
Hi Ochuko,

Your strategy is highly applauded.Although there are some grey areas i need further clarification
  • #120
  • Jan 11, 2014 11:29am Jan 11, 2014 11:29am
Very nice trading strategy simple and clean. As my name goes I love Price Action and this kind of trading strategy is what I am looking for. good to add RN and BRN for confluence. Just my 2 cents.
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