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MultiTimeFrame Trend Trading with Price Action

  • #141
  • Feb 23, 2015 5:07am Feb 23, 2015 5:07am
NZD/USD D1 Bearish Trade

EUR/USD D1 Bearish Trade

I've not posted much recently been busy with other things and wanted to take some time away from Trading.

I've been reading this Thread http://www.forexfactory.com/showthread.php?t=498942 it's by Fartist who has a very clear Plan of Action when it comes to Trading.

One of the many things I learned from reading the thread was the importance of allowing a Trade to run to it's maximum potential and not cutting a Trade off until it breaks my criteria for entering the Trade in the first place.

I'm going to look at a break and close above the 21 EMA as a possible exit criteria.

Another useful thing I learned was using 2 x 20 Day ATR for my Stop Loss level.

I also need to look at breakouts more as a means to getting me into Trades. Because, quite often, Trades can be missed when looking for PA at a specific level, that never materialises, where by entering after a breakout can lead to successful Trades as long as you are Trading with the Prevailing Longer Term Trend.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 23rd Feb 15 NZD:USD D1 Chart.png Size: 135 KB
Click to Enlarge Name: 23rd Feb 15 EUR:USD D1 Chart.png Size: 133 KB
  • #142
  • Mar 2, 2015 9:41am Mar 2, 2015 9:41am
The following charts should give an idea of what I'm looking for.

I'm still searching for a definitive way to Manage my Trades.

This, along with Money Management, is the most important piece of the puzzle.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2nd Mar 15 EUR:USD W1 Chart.png Size: 107 KB
Click to Enlarge Name: 2nd Mar 15 EUR:USD D1 Chart.png Size: 168 KB
Click to Enlarge Name: 2nd Mar 15 GBP:JPY W1 Chart.png Size: 97 KB
Click to Enlarge Name: 2nd Mar 15 GBP:JPY D1 Chart.png Size: 172 KB
  • #143
  • Mar 2, 2015 10:03am Mar 2, 2015 10:03am
USD/JPY D1 Bullish Trade
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2nd Mar 15 USD:JPY W1 Chart.png Size: 119 KB
Click to Enlarge Name: 2nd mar 15 USD:JPY D1 Chart.png Size: 134 KB
  • #144
  • Mar 2, 2015 4:17pm Mar 2, 2015 4:17pm
EUR/JPY D1 Bearish Trade
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2nd Mar 15 EUR:JPY W1 Chart.png Size: 93 KB
Click to Enlarge Name: 2nd Mar 15 EUR:JPY D1 Chart.png Size: 117 KB
  • #145
  • Mar 3, 2015 5:39am Mar 3, 2015 5:39am
Nice to see you back posting them charts. Smart idea with those blue rectangles, I've been doing something very similar and helps segment the market for a much clearer view.
  • #146
  • Mar 3, 2015 1:19pm Mar 3, 2015 1:19pm
Quoting saruhn
Nice to see you back posting them charts. Smart idea with those blue rectangles, I've been doing something very similar and helps segment the market for a much clearer view.

Hi saruhn;

Yes, it helps to highlight a possible deeper Pullback or a reversal of the Primary Weekly Trend or the continuation of the Primary Weekly Trend when Trading the Daily TF.
  • #147
  • Mar 5, 2015 11:05am Mar 5, 2015 11:05am
AUD/USD D1 Bearish Trade

Five Trades now running
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 5th Mar 15 AUD:USD W1 Chart.png Size: 94 KB
Click to Enlarge Name: 5th Mar 15 AUD:USD D1 Chart.png Size: 139 KB
  • #148
  • Mar 7, 2015 8:34am Mar 7, 2015 8:34am
Finding Levels of Interest on the Weekly TF can provide a lot of information when Trading the Daily TF.

It's about having a systematic approach to finding these Weekly Levels.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 7th Mar 15 EUR:USD W1 Chart.png Size: 95 KB
Click to Enlarge Name: 7th Mar 15 EUR:USD D1 Chart.png Size: 145 KB
Click to Enlarge Name: 7th Mar 15 GBP:JPY W1 Chart.png Size: 93 KB
Click to Enlarge Name: 7th Mar 15 GBP:JPY D1 Chart.png Size: 136 KB
  • #149
  • Mar 8, 2015 9:25pm Mar 8, 2015 9:25pm
Quoting stevepatt
Finding Levels of Interest on the Weekly TF can provide a lot of information when Trading the Daily TF. It's about having a systematic approach to finding these Weekly Levels. {image} {image} {image} {image}
Is your method limited to Daily chart trading?

Can someone do it like..
Analyzing Daily chart to trade H4 chart..or..
H4 to trade H1 ?

-RR
i worshipped... Momentum
  • #150
  • Mar 8, 2015 10:19pm Mar 8, 2015 10:19pm
Quoting RockRobb
{quote} Is your method limited to Daily chart trading? Can someone do it like.. Analyzing Daily chart to trade H4 chart..or.. H4 to trade H1 ? -RR
Unless you're a 1M or 5M scalper, you want to watch MN, WK, D chartts for 4H or 1H trading. Top-down analysis is the key for success IMHO.
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #151
  • Mar 9, 2015 2:02am Mar 9, 2015 2:02am
Quoting RockRobb
{quote} Is your method limited to Daily chart trading? Can someone do it like.. Analyzing Daily chart to trade H4 chart..or.. H4 to trade H1 ? -RR

Hi RockRobb;

This isn't limited to Trading the Daily TF you could look at Daily chart to Trade the H4 or H1 TFs, I wouldn't go lower than the Daily TF to look for a Failure to make a New Low or New High though.

The important thing is to be aware of the Direction of the Longer Term, Weekly-Monthly, Primary Trend so you can adjust your Trade Expectancy if Trading against the Primary Trend.
  • #152
  • Mar 9, 2015 3:01am Mar 9, 2015 3:01am
Quoting heispark
{quote} Unless you're a 1M or 5M scalper, you want to watch MN, WK, D chartts for 4H or 1H trading. Top-down analysis is the key for success IMHO. [IMG]file:///C:\Users\User\AppData\Local\Temp\msohtmlclip1\01\clip_image001.gif[/IMG]
I'm not scalper
Agree
Top Down analyzis play an important role

Quoting stevepatt
{quote} Hi RockRobb; This isn't limited to Trading the Daily TF you could look at Daily chart to Trade the H4 or H1 TFs, I wouldn't go lower than the Daily TF to look for a Failure to make a New Low or New High though. The important thing is to be aware of the Direction of the Longer Term, Weekly-Monthly, Primary Trend so you can adjust your Trade Expectancy if Trading against the Primary Trend.
Thanks for your further explanation, steve..
i worshipped... Momentum
  • #153
  • Mar 9, 2015 8:10am Mar 9, 2015 8:10am
AUD/JPY D1 Bearish Trade
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 9th Mar 15 AUD:JPY W1 Chart.png Size: 105 KB
Click to Enlarge Name: 9th Mar 15 AUD:JPY D1 Chart.png Size: 154 KB
  • #154
  • Mar 15, 2015 6:10am Mar 15, 2015 6:10am
The direction the Market Breaks out affects my Trade decision.

But I must be aware of the Primary Trend if Counter Trend Trading always be more cautious of obvious levels of Resistance/Support.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 15th Mar 15 GBP:USD W1 Chart.png Size: 126 KB
Click to Enlarge Name: 15th mar 15 GBP:USD D1 Chart.png Size: 131 KB
  • #155
  • Mar 15, 2015 5:26pm Mar 15, 2015 5:26pm
Trade update

My Stop Loss has been hit on NZD/USD D1 Bearish Trade for +80.6 pips +0.46R.

The remaining five Trades are still running.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 15th Mar 15 NZD:USD D1 Chart.png Size: 137 KB
Click to Enlarge Name: 15th Mar 15 EUR:JPY D1 Chart.png Size: 161 KB
  • #156
  • Mar 17, 2015 7:44am Mar 17, 2015 7:44am
Quoting stevepatt
Trade update My Stop Loss has been hit on NZD/USD D1 Bearish Trade for +80.6 pips +0.46R. The remaining five Trades are still running. {image} {image}
Open trades from february !!! Good job.
It's very useful to read your explanation.
Thanks for your journal.
  • #157
  • Mar 27, 2015 5:53pm Mar 27, 2015 5:53pm
I hope this will help Pips92 who PM me about Support/Resistance.

Primary Trend, for me, Equals Market Trading Below/Above 21 and 55 EMAs on Monthly/Weekly/Daily TFs.

Look for Weekly Candles failure to make a New High or New Low, depending on Bullish/Bearish Primary Trend.

After this happens look for PA to continue in the Primary Trends Direction.

I( hope the Charts helps to explain this clearly.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 27th Mar 15 AUD:USD W1 Chart.png Size: 113 KB
Click to Enlarge Name: 27th Mar 15 AUD:USD D1 Chart.png Size: 96 KB
Click to Enlarge Name: 27th Mar 15 AUD:USD W1 Chart 2.png Size: 110 KB
Click to Enlarge Name: 27th Mar 15 AUD:USD D1 Chart 2.png Size: 97 KB
  • #158
  • Mar 28, 2015 4:40am Mar 28, 2015 4:40am
Here's some more charts explaining what I'm looking at.

Am I making it clear or is it confusing everyone?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 28th mar 15 AUA:USD MN Chart.png Size: 111 KB
Click to Enlarge Name: 28th Mar 15 AUD:USD W1 Chart.png Size: 144 KB
Click to Enlarge Name: 28th Mar 15 AUD:USD D1 Chart.png Size: 127 KB
  • #159
  • Mar 28, 2015 11:08am Mar 28, 2015 11:08am
More charts explaining why I place more significance on a Weekly Failure to make a New High or New Low for finding Levels of Interest than using Monthly Support/Resistance.

The strongest Trades are found, on the daily TF, when the market is Trading below the 21 and 55 EMAs on both the Weekly and Monthly TFs, this is a very Strong Primary Trend.

After a Weekly Pullback I'm looking for Daily PA to get me into Trades that are in Line with the Primary Trend.

If, after a Weekly Pullback, the Market Breaks in the opposite direction to the Primary Trend I will consider Counter Trend Trades if I see Strong PA to do so. I must be aware that I am Trading Counter Trend and adjust my expectancy and keep my SL tighter.

The hardest thing, for me, at the moment is finding the best method to extract as much as possible from the Trades I take.

It's finding a balance between allowing a Trade room to Develop and not giving up too much Profit once a Trade starts to Turn Around.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 29th Mar AUD:USD MN Chart 2.png Size: 109 KB
Click to Enlarge Name: 28th mar 15 AUD:USD D1 Chart 2.png Size: 151 KB
  • #160
  • Mar 30, 2015 7:02am Mar 30, 2015 7:02am
Awesome.

Quote
Am I making it clear or is it confusing everyone?

Not at all, your chart analysis is quite logical and straight forward as much as possible i think.

Quote
More charts explaining why I place more significance on a Weekly Failure to make a New High or New Low for finding Levels of Interest than using Monthly Support/Resistance.
The strongest Trades are found, on the daily TF, when the market is Trading below the 21 and 55 EMAs on both the Weekly and Monthly TFs, this is a very Strong Primary Trend.

I really liked this part because it would be almost impossible to trade taking into consideration every sup/res found on higher TF's. Hunting for new highs or lows really filters out the market for a better picture i think...

Thanks for the charts once again Steve.
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