Entered an aggressive possible ABCD yesterday evening - Hit target today for 134,00 pips. H{image} {image}
Ratios & Harmonics: a Different Way to Trade
- #13,322
- Feb 26, 2015 8:54pm Feb 26, 2015 8:54pm
- Joined Aug 2011 | Status: Trader | 4,956 Posts
As the lights go by so too do the shadows move
- #13,323
- Feb 26, 2015 10:12pm Feb 26, 2015 10:12pm
- Joined Aug 2011 | Status: Trader | 4,956 Posts
As the lights go by so too do the shadows move
- #13,324
- Feb 26, 2015 11:56pm Feb 26, 2015 11:56pm
- Joined Aug 2011 | Status: Trader | 4,956 Posts
As the lights go by so too do the shadows move
- #13,326
- Feb 27, 2015 3:25am Feb 27, 2015 3:25am
- Joined Aug 2011 | Status: Trader | 4,956 Posts
As the lights go by so too do the shadows move
- #13,327
- Feb 27, 2015 3:26am Feb 27, 2015 3:26am
{quote} It's good. There is a pattern within the pattern too. {image}
hehe
Trade Different
Multi 3000 All Time Pips:
23,606
- #13,329
- Feb 27, 2015 10:47am Feb 27, 2015 10:47am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
Have a great weekend everyone...........
Busy today mainly using an M1 and M5 chart to simply grab pips from 2 charts by following PA, OF and structure.
Works well!
See you all next week...........
Masterrmind...........
Busy today mainly using an M1 and M5 chart to simply grab pips from 2 charts by following PA, OF and structure.
Works well!
See you all next week...........
Masterrmind...........
Master your Mind then Master your Trades
- #13,330
- Feb 27, 2015 11:37am Feb 27, 2015 11:37am
After the news, we went on this long, the expectation was that to be rejected minimus D and W, would visit, HH makes MR, in 1218. The trigger input to 5M was after the news, the failed attempt to break down the HL, which in turn had reference, the MM200, and other EMAS, which as seen, acted support. + 54 pips. {image} {image} {image}
Have a great weekend everyone........... Busy today mainly using an M1 and M5 chart to simply grab pips from 2 charts by following PA, OF and structure. Works well! See you all next week........... Masterrmind...........
So today has been a green day
Most of the morning I was watching videos with an eye on the charts, marking out structure, looking at OF etc.
Trade 1 came as a retest of previous highs where there was a lot of structure. Also the OF was in favour of a direction change as momentum slowed moving to the per-determined point. My entry was quite agressive at the first stronger bear candle. There was also some news that came in towards the end which helped it down and I took profit at previous structure (glad to get some green pips lol). +15 pips
I then missed an entry. Price stalled out at structure as expected and I was looking at a close below expecting price to continue down. I should have entered at the close below creating a NSL but hesitated a little. This was because there was some slight structure I had drawn on (also taking into account the lows from yesterday not shown on the chart). It was this risk of trading into structure that put me off and then price went down as expected. I would have trailed quite aggressively due to a slight ranging of price but looking for it to drop near to previous lows. Price jumped up quite quickly which would have taken out a tight SL so should have had anything from 10-15 pips here.
OF changed and I watched it moving up, possibly missing out on some smaller swings but was not confident enough to take any. Then price came towards the previous high but I have also drawn out an AB=CD which was hit to the pip. Then came trade 3...
I entered on a strong bear candle again. I always have a SL of 15 pips and should move it more really, this was my mistake here. I should have had it above structure and then this would have been a winner but instead price tested the highs again and took me out. -15 pips.
Thing was my expectation was still the same so price stayed up there and looked to correct again. I entered short again but had a higher entry this time (about 7 pips). Price tested the highs again and I was a little worried but learned from my previous mistake and SL was above structure at 1.5463. Price eventually started down as expected and as it was reaching structure I had a decision to make, stay in and manage or get out.
Longer term OF was bullish due to a recent HL and NSH so I was against OF, plus it is getting late, after 5pm so I decided to get out for a profit of +20 pips.
I have to say I feel empowered again. I know all my reads were correct today, just an error with my SL cost me a net of 10 pips. After going through the recent videos and going back a few weeks and making dummy trades I felt I could read the charts a lot better. I know it is only 1 green day but I think my control was a LOT better, avoided emotion (well I think I did!!).
I still have a long way to go and know there are a lot more opportunities I missed today. This should come with more time trading and reading the charts (correctly now though!). Got my daily target of 20 pips and I hope to get this with more consistency and even some higher days should come along too.
Have a great weekend everyone!!
- #13,332
- Feb 27, 2015 10:21pm Feb 27, 2015 10:21pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
{quote} Hi guys, it seems that my question was lost in this busy thread, can anyone please give me some advice on the question that i have asked? It will be much much appreciated.
As you know mastering the entry in the PRZ is vital!
You could still get stopped out of a very good trade setup and entry simply because the market decided to go against you (just enough to hit your SL).......... you can never win them all and you can never have an infinitely large SL either!
Manage your risk...manage your position!
But it can be a double edged sword.....leave the entry too late and you forfeit any extra pips in that trade.....go in too early and price can turn against you and head for your SL (this can also happen regardless of your entry strategy).
I always get as much probability as possible on my side before I enter a trade.....
(manage your risk...position size....and very importantly manage your trade from start to finish).
Before I place a trade I know exactly where my SL and TP will be located, what my risk on the trade is exactly, what my gain is should TP be the result (I know risk % loss if it goes bad and clearly what %gain on my account if it's a winner).
The market will do what the market wants to do.....we simply follow along and try to create setups (if using pattern completion setups) and wait for price to come to us...
when it does we never jump straight into the trade....never....
we watch PA.....we observe the current structure on the chart and look for possible breaks of the structure before an entry is even considered.
patience and timing is what helps to get the probability of winning the trade on your side.
I use my knowledge of PA, candlestick patterns and OF as well as S+R zones and pivots and market wit in general ie I get a feel for what PA might do or is likely to do (any potential obstacle on the chart..I want to know about it and what possible impact it could have on the entry of my potential trade or the progression of my active trade)...... my eyes are very busy when I trade.......focusing on the chart in front of me!
I look for weakness and a breakdown or transfer of strength from one side to the other...bulls to bears as the case may be....within the zone looking for weakness but this is far from easy.
It takes practice and then more practice!
Double tops and double bottoms or triples can make good entries so too bullish and bearish engulfing patterns but they are not and should not be the only reason for your entry.
We need to analyze the whole picture not just a small part of it.
A chart example using different entry techniques and triggers might be of some use than a whole bunch of text .... might try to throw a few together for next week!
Perhaps a few different traders might like to show examples using charts for the types of things they look for in an entry within the PRZ zone.
One thing for sure is that very rarely are all entries exactly the same....they are not!
Good trading,
Masterrmind............
Master your Mind then Master your Trades
- #13,333
- Feb 28, 2015 12:57am Feb 28, 2015 12:57am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
{quote} Nice trade
When you take the time to study the charts correctly and intensely....... you really do feel empowered!
Now just continue to build on it going forward and yes "control your risk....manage your trades and keep those emotions in check".
I like what I'm reading........
Masterrmind............
Master your Mind then Master your Trades
- #13,334
- Feb 28, 2015 8:50am Feb 28, 2015 8:50am
{quote} Nice trade
My two cents: formed a bearish BAT in 4H, so the expectation is bearish.
4H then the trend is down, broke the last bullish pivot reference, marked in a square, in turn broke, trendline. And leaves a great bassist mmtum with candlestick patterns 20/20. Ie without tails. In turn, the MM are beginning to point south.
In 1H, broke pivot, try to bounce upward, leaving a bullish candlestick pattern denied.
Ie great bull weakness and bearish strength, in the context of a bear bat, is the chance to go well leveraged short. SL on the sail entry and TP in the 1.5400 or the 1.5340, which are the AREAS OF DEMAND, strong in 1H.
Now is consolidating, he has broken the bearish pivot reference in red, but did not close above it.
If you break the upside, consolidation area, Retesting 1.5500, and if broken down run up to 1.5360.
The mmtum is bearish, so my first expectation is that, up until 1.5460, leave 4H bearish pivot and go short.
We'll see, it says PA. must be flexible, and have the two alternatives at hand.
In 15M, when your entry, the trend was bullish, bullish pivot marked in blue, who broke the last bearish pivot, marked in red.
Therefore, to go with the trend, was to wait for a reversal in this case was deep, and in the area of demand for 15M, left a candlestick pattern BT, engulfing.
Then leave a 1to1, 15M, where you can find the 38% and then 61%.
In 5M, the trend was downward, and was very good your entry, I should have had as TP, demand area marked.
Let's keep in touch, learning from each other,
Attached, that is my way of trade, a bullish divergence in 5M regularly marked on the graph and ITC.
It is only, to share strategies, and of course GREEN DAYS.
regards
- #13,336
- Mar 1, 2015 11:35am Mar 1, 2015 11:35am
{quote} Thank you Mastermind for insight on my question, Yes some charts for entry will be super helpful. Thank you again, cant wait to see those charts. Two more question, where is Mr. Pip ? and are your in charge of this thread now ?
1. Look for the main swing.
2. Look for where it breaks any previous structure within that swing and the reaction to it.
3. Mark the reaction level and look to trade it - if and when price returns. ( in this case the ftr )
In my chart I have marked the break of structure and the failure to return (Ftr) ie price tried
to go higher but got rejected. This was a desiscion point for price to go lower - and it will often get
a second test.
Hope this helps
Hans
"The future is already written in the past"
- #13,337
- Mar 2, 2015 12:16am Mar 2, 2015 12:16am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
{quote} Thank you Mastermind for insight on my question, Yes some charts for entry will be super helpful. Thank you again, cant wait to see those charts. Two more question, where is Mr. Pip ? and are your in charge of this thread now ?
Running a thread is also very time consuming with answering the multiple PM's and questions on a daily basis.
My guess would be that late last year and then earlier this year trading can be a little quiet before the year gets off to full swing which means this probably freed up some time for Mr Pip allowing him to be more active on the thread.
If you watched some of the latest videos you'd appreciate that following PA and OF on a 233 tick chart (NJ) is something that you could probably only capture by actively recording the session or posting "after the fact" charts. It is not always easy to post away just before you enter the trade if the market is moving along quite fast and doing so can be a little distracting to the traders thought processes.
Remember we are playing for keeps in this business when trading live!
Note: I am certainly NOT in charge of this thread but simply a contributor just the same as you!
Good trading,
Masterrmind...............
Master your Mind then Master your Trades
- #13,338
- Mar 2, 2015 2:51am Mar 2, 2015 2:51am
- Joined Nov 2014 | Status: Trader | 1,300 Posts
Good morning everyone.
Looking at a potential short EU, provided that price makes a weak test of the blue area.
Wishing everyone a successful week!
Looking at a potential short EU, provided that price makes a weak test of the blue area.
Wishing everyone a successful week!
- #13,340
- Mar 2, 2015 3:44am Mar 2, 2015 3:44am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
GU M5 chart long opportunity.....come and gone!
Posted to show PA activity within the PRZ zone.
Note the spike down......where was that headed to test?
Easy!
Check structure by looking left because structure leaves clues.
GU (H1 chart) gives the answer......note it does not need to be the H1 chart but that's what I'll use to show the support level.
Note: I saw this trade well before the fact but unfortunately missed the trade due to other reasons so I did not trade this setup.
No problem there will be countless other opportunities!
Check for clues as to where price could and is likely to go based on structure (it will tell you a lot!)
What I'm saying is don't be in a hurry to enter a trade simply because price has entered the PRZ.....check for structure, look for the clues and simply watch PA within the PRZ zone before you take action............
Masterrmind........... :nerd:
Posted to show PA activity within the PRZ zone.
Note the spike down......where was that headed to test?
Easy!
Check structure by looking left because structure leaves clues.
GU (H1 chart) gives the answer......note it does not need to be the H1 chart but that's what I'll use to show the support level.
Note: I saw this trade well before the fact but unfortunately missed the trade due to other reasons so I did not trade this setup.
No problem there will be countless other opportunities!
Check for clues as to where price could and is likely to go based on structure (it will tell you a lot!)
What I'm saying is don't be in a hurry to enter a trade simply because price has entered the PRZ.....check for structure, look for the clues and simply watch PA within the PRZ zone before you take action............
Masterrmind........... :nerd:
Master your Mind then Master your Trades