MTF Trading MonocorFx

My trading is based on MTF chart setup from H4 to M15. Some times it is going to be clear H4 trade, some times I will move to M15 chart, to find a better entry.

Tools :

1. Trend
2. S/R
3. Round number ( 00, 50 )
4. Trend line
5. Classic pattern ( flag, triangle, etc)
6. Candlestick pattern
7. Fibonacci retracement level (38,50,61,76)
8. Divergence

8 Elements have to come together in order to find a trade, and profit from that trade.

Currency pairs which I follow : AUDCAD, AUDCHF, AUDJPY, AUDNZD, AUDUASD, CADCHF, CADJPY, CHFJPY, EURAUD, EURCAD, EURCHF, EURGBP, EURJPY, EURNZD, EURUSD, GBPAUD, GBPCAD, GBPCHF, GNPJPY, GPBNZD, GBPUSD, NZDCAD, NZDCHF, NZDJPY, NZDUSD, USDCAD, USDCHF, USDJPY

GJ trade from this week. Full MTF explanation. Trade started from H4 chart and trigger was based on M15.

H4 : Trend is up, as previous high was broken. Price made a retracement to previous lvl of resistance, which now become a support, and formed a pin bar with a divergence for up trend continuation. As strong lvl of resistance with fib lvl 38% at 172.50, I wouldn't trade that pin bar (hummer) by it self. So I moved to H1 chart.

H1: I marked lvl of strong support with grey rectangle. So now, I draw ( or start looking for a pattern), and waiting to see a trend line break, and after that a test, which gives me an entry. BPT - Breakout, Pull back , Test. After a test I want to enter above breakout, in this case we got a consolidation at the test. So I am moving to M15 chart, in order to have a closer look at that consolidation.

M15 : After break and pull back, we have consolidation in form of triangle, I am waiting for a triangle break out and trigger my trade. As shown on the M15 chart.

It is hard to find an entry, but it is even harder to exit. After triangle break out we have test of triangle and the move up to 175, at 175 it is about 50 pips, I move my SL to BE. And after that point I am following H1 chart and trailing my stop with EMA 13.

This trade would bring 500 to 600 pips. I closed this trade with profit in 600 pips.

Subscribed

Some of indicators which I use and Templ. Trend scanner identifying trend based on 3 SMA 30,50,100.

Looking forward to this thread...

I trade using M30 and M5, the ratio of 1:6 suits me. I think MTF trading is the way to go, it allows for smaller stops and greater risk reward....

Hi monocor, don't see trend scaner indicator on your chart.

I have separate window for TS

Sorry had a flue for a while and couldn't trade.

Trade from today still running.

H4 : All moving crossed on down side, trend is going south, price closed below support.
H1: The same story, trend is going south, plus we have triangle.
M15: Break and test of triangle. As priced reached 1,61, moved my SL to BE, to be on safe side. My target 1,6065 ( By the triangle and 9th of Sep low)

Closed for 21 pip, as GBP Service PMI will be in 10 min, and spread spike might hit my SL.

And news didn't have a big affect on the market, my target was reached by the price

I want to show this trade. One of my friends send it to me

H4 : trend is up, R become S
H1: Trend is up, consolidation in form of tringle
M15: Break and test of triangle

Exit : Price made Double top with doji on H1 chart, and couldn't break Tuesday High

Didn't post for long time.
Here is trade from today! Based on H1 time frame !

One of my biggest trades on this week. AU +140 pips. I think chart is self explanatory