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}
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With this system, we don't look at the weekly time frame to confirm S/R. The system is very straight forward. We determine market flow on daily time frame, next we look for our entry on 1Hr time frame using S/R and trend line as our area of focus. The S/R and trend line is drawn on the hourly time frame.
I'd advice you to read the beginning of this thread to gain futher understanding of this system.
As for the TP issue, omoluabii has given you a better response.
I hope this answers your questions?
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. {image} {image}
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Please check the AUDUSD daily time frame first before looking out for trade set up on the hourly time frame.
Consider this chart below;
{quote} 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 ???
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This could be discretional at times. And also depends on how you draw your trendline.
{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 support level. Hope this helps.
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
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For now, I am doing it manually. It's simple to apply once you take your time to read from the first thread and study the live trade set ups.
{quote} 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 ??
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The entry was at the close of the harami
The Stop Loss was based on the mother candle.
I hope this answers your questions?
Please try to study candle stick patterns, I assume you have some knowledge of it.
Maybe I missed it in the thread, but do you move to 1 hour time frame as soon as price goes beyond fractal price on daily, or must daily be closed first?
{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 ??
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My trade here was based on the harami as I indicated in the chart.
Maybe I missed it in the thread, but do you move to 1 hour time frame as soon as price goes beyond fractal price on daily, or must daily be closed first?
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As I explained in the video, price MUST CLOSE beyond a fractal price before considering it as a change in MARKET FLOW. Like I also said, we dont consider highs/low, but only close as a condition for market flow change.
Hope this answers your question?
Just want to thank you ochuko for a great system
I really apriciate all the time and effort you put into the explenation and the video
we apriciate you
will give feedback later- but still learning how to upload charts and such.
Live today like theres no tomorrow-- Prioritize like you will die today
Hi Ochuko Your system looks very good and easy to implement. You do need patience though for the trade to come to you. I noticed it is very good for long term trades. There is a very nice trade setting up on GBPCHF support fractal line which could give you over 100 pips. One to watch for Sunday. {image}
I have seen alot of these fractal threads come and go. What typically everyone points out is the repainting nature of the fractals. My questions are does this fractal indicator repaint and how many bars on either side of the swing high or swing low does it required before it doesn't repaint. Fractal strategies look great in hindsight but the reality of trading them in real time is another story.
Ochuko I have seen alot of these fractal threads come and go. What typically everyone points out is the repainting nature of the fractals. My questions are does this fractal indicator repaint and how many bars on either side of the swing high or swing low does it required before it doesn't repaint. Fractal strategies look great in hindsight but the reality of trading them in real time is another story.
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Hi Ozziedave,
A fractal swing low needs at least two higher bars to the left and at least two higher bars to the right before it is a confirmed fractal.
A fractal swing high needs at least two lower bars to the left and at least two lower bars to the right before it is a confirmed fractal.
With Ochuko's method, most of the time, the fractals will have been well confirmed it's just a matter of being sure you have at least two bars either side of the fratcal
Just want to thank you ochuko for a great system I really apriciate all the time and effort you put into the explenation and the video we apriciate you will give feedback later- but still learning how to upload charts and such.
{quote} Hi Ozziedave, A fractal swing low needs at least two higher bars to the left and at least two higher bars to the right before it is a confirmed fractal. A fractal swing high needs at least two lower bars to the left and at least two lower bars to the right before it is a confirmed fractal. With Ochuko's method, most of the time, the fractals will have been well confirmed it's just a matter of being sure you have at least two bars either side of the fratcal {image}
