Disliked{quote} Let's see how this one plays out... My "got it wrong" point will be a break of 1.12 {image}Ignored
Ratios & Harmonics: a Different Way to Trade
- #13,342
- Mar 2, 2015 4:36am Mar 2, 2015 4:36am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
EURJPY (M30 chart)
Looking for a possible short but the monthly and weekly pivots are obstacles that need to be addressed.
A bounce up is also likely so PA needs to be observed.
Time to be patient and watch!
Note: this trade setup is far more complicated due to the location of the pivots on the chart!!
Masterrmind.............
Looking for a possible short but the monthly and weekly pivots are obstacles that need to be addressed.
A bounce up is also likely so PA needs to be observed.
Time to be patient and watch!
Note: this trade setup is far more complicated due to the location of the pivots on the chart!!
Masterrmind.............
Master your Mind then Master your Trades
- #13,344
- Mar 2, 2015 5:43am Mar 2, 2015 5:43am
{quote} I apologize for the extensive case 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...
I tend not to look at too higher timeframes really, I am trying to keep things simple and I go up to the 15 min at the highest, mark out areas of structure to start off my day. Then I just stick to the 3 min chart and then look for ABCD type patterns and good entry points.
I hear a lot of talk about pivots and never have used them although I see from your posts and others here that price seems to react to those areas so I may want to add those to my strategy to help identify S/D areas.
I am currently on the sidelines watching the EU and Cable. Missed an entry to go long on the EU not too long ago but I felt the R:R was not favourable so left it, the right decision really as in my rules.
Currently looking for a short on the EU when it hits the highs of 1.1245-50 and the cable is just not moving anywhere at the moment.
- #13,348
- Mar 3, 2015 1:00am Mar 3, 2015 1:00am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
USDCAD (M5)
shorting opportunities .....
be aware that FF opens soon
watch the OF
Masterrmind...........
shorting opportunities .....
be aware that FF opens soon
watch the OF
Masterrmind...........
Master your Mind then Master your Trades
- #13,349
- Mar 3, 2015 1:34am Mar 3, 2015 1:34am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
USDCAD (M5) {image} shorting opportunities ..... be aware that FF opens soon watch the OF Masterrmind...........
Simply following OF watching the PA and being aware of the obstacles on the chart...
SL a few pips above the pivot.
TL's to assist in identifying possible levels of interest!
TP would have been at the 1 st cross of the downward sloping TL.
Masterrmind.............
Master your Mind then Master your Trades
- #13,350
- Mar 4, 2015 3:12am Mar 4, 2015 3:12am
A good day for me yesterday with +21 pips on the day, all from a single trade but a few BE trades taken and a small loss.
Trade 1 was on the cable with an aggressive C entry and I got in before the news (BoE chairman talking) and hoped to have it to BE before that but the market didn't move too much. I then moved SL to -3 pips when I was +5 just in case he said something that sent the market a little crazy, ended up getting stopped out at -3. Was looking for a 1:1 completion of 15-20 pips and could have reentered about 10 candles on after another strong rejection of the area highlighted, but missed it, not sure what I was doing.
Then my other trades were on the EURUSD. My first entry was a little late to the party and was looking for a quick 10 pips. I knew I was coming to the end of an AB=CD (larger image) so had an expectation of price to reach the PRZ, bottom yellow box. As I knew I was in a little late I moved it to BE as soon as I could (about 5-6 pips up). Unfortunately price came back up and took me out before moving towards the PRZ so a BE trade there.
Then I was looking to go long and as price didn't hit my PRZ I did not enter as would have been too early. Price started to rise and I expected a reaction to the area indicated by the top yellow box. Then I got an indication to enter so I got in and took it to just above the 61.8 of the last move. and took 24 pips.
My final trade was a short which I may have been a little late to. I also thought price would react to the same zone I got my last trade entry so moved to BE asap. I did not expect price to hit that zone and react so harshly as I had planned to see how it did there and decide to take a few pips or ride it down. Needless to say the reaction to this zone was a clear indication price was going up and I was taken out at BE.
Trade 1 was on the cable with an aggressive C entry and I got in before the news (BoE chairman talking) and hoped to have it to BE before that but the market didn't move too much. I then moved SL to -3 pips when I was +5 just in case he said something that sent the market a little crazy, ended up getting stopped out at -3. Was looking for a 1:1 completion of 15-20 pips and could have reentered about 10 candles on after another strong rejection of the area highlighted, but missed it, not sure what I was doing.
Then my other trades were on the EURUSD. My first entry was a little late to the party and was looking for a quick 10 pips. I knew I was coming to the end of an AB=CD (larger image) so had an expectation of price to reach the PRZ, bottom yellow box. As I knew I was in a little late I moved it to BE as soon as I could (about 5-6 pips up). Unfortunately price came back up and took me out before moving towards the PRZ so a BE trade there.
Then I was looking to go long and as price didn't hit my PRZ I did not enter as would have been too early. Price started to rise and I expected a reaction to the area indicated by the top yellow box. Then I got an indication to enter so I got in and took it to just above the 61.8 of the last move. and took 24 pips.
My final trade was a short which I may have been a little late to. I also thought price would react to the same zone I got my last trade entry so moved to BE asap. I did not expect price to hit that zone and react so harshly as I had planned to see how it did there and decide to take a few pips or ride it down. Needless to say the reaction to this zone was a clear indication price was going up and I was taken out at BE.
- #13,351
- Mar 4, 2015 6:23am Mar 4, 2015 6:23am
My first 2 trades of the day.
First was a loss and I inadvertently traded into some news. Went long after a show of rejection in the zone marked off and went long. SL was below structure and I lost for 8 pips. Looking at it now it was not a great trade as we had just had a LH so the short term OF was telling me it wanted to go down.
My second was at the second rejection of the lows, SL was below structure and my TP was at the 61.8 which was just below some structure. Took 20 pips there leaving me +12 on the day so far.
Time for lunch and then back on it.
First was a loss and I inadvertently traded into some news. Went long after a show of rejection in the zone marked off and went long. SL was below structure and I lost for 8 pips. Looking at it now it was not a great trade as we had just had a LH so the short term OF was telling me it wanted to go down.
My second was at the second rejection of the lows, SL was below structure and my TP was at the 61.8 which was just below some structure. Took 20 pips there leaving me +12 on the day so far.
Time for lunch and then back on it.
- #13,352
- Mar 4, 2015 8:49am Mar 4, 2015 8:49am
My third trade for the day was a BE trade off of the PRZ following the completion of a larger and smaller AB=CD. Pattern completed with strong rejection and took my trade. Price went up the the area of resistance and then started to drop. As this was against OF I moved my SL to BE when price reacted with the resistance area.
Price still in and about the area so may look for another long entry.
Price still in and about the area so may look for another long entry.
- #13,354
- Mar 4, 2015 11:02am Mar 4, 2015 11:02am
Think I am about done for the day. I missed the rally down helped by the news and did not want to get into any trades in the news as been burned too many times lol!!
I have had a couple BE trades at the bottom of this run but price normally went 5-8 pips in favour and then took me out at BE. Always moved them to BE quick as against OF.
Still, another green day with 12 pips up on the day.
I have had a couple BE trades at the bottom of this run but price normally went 5-8 pips in favour and then took me out at BE. Always moved them to BE quick as against OF.
Still, another green day with 12 pips up on the day.
- #13,359
- Mar 5, 2015 10:10am Mar 5, 2015 10:10am
Well today I tried something a little different after news. I went down to the 1 min chart and did a few scalpes following order flow.
The first trade was with order flow after a higher high then higher low, and took 10 pips.
Then I missed the next leg up as was doing something and was tempted but too late so if in doubt sit it out!!
My next trade was a short as price had slowed in momentum, then created a lower high and I entered on the lower low after a strong bear candle. Again took this for 10 pips.
So all in all I am really happy with my day, 2 trades, both winners and not much time at the charts today. I have done better in less time than other days lol!!
Might do another trade but not sure as getting to the end of my work day.
Happy trading.
The first trade was with order flow after a higher high then higher low, and took 10 pips.
Then I missed the next leg up as was doing something and was tempted but too late so if in doubt sit it out!!
My next trade was a short as price had slowed in momentum, then created a lower high and I entered on the lower low after a strong bear candle. Again took this for 10 pips.
So all in all I am really happy with my day, 2 trades, both winners and not much time at the charts today. I have done better in less time than other days lol!!
Might do another trade but not sure as getting to the end of my work day.
Happy trading.
