Trading is as simple as ABCD

just when it falters for the first time just bank half move other half to BE if you haven't already, could be as little as 5 pips,the idea being no more entries without some profit. Then let other half run especially first thing in morning when we can expect some bigger moves to start..

The other way is alla Pres78 when he use to take say 10 pips from the first pust then move his other halfa stop to -10 or whatever he had banked. That way you've got a nett BE trade but allowing it to pullback to your entry without stopping out. This also allows you to put stop behind the original level you traded so every chance of it surviving, whereas when I move stop to BE on my entry theres no such level to protect my stop...

Try both out see what happens....

Also if you have caught the start of a trend and it continues to give you a 2nd entry then you've banked one whole position and you are holding a whole one going forward..

Just banked half on this move for a nice 15 pips , a bit late entering as distracted by work this morning, shame because the right entry was 5 pips lower. I think entering in right place is important for getting to BE quickly and then surviving the resulting retest of entry.. Might move my stop back 15 pips and see if it survives???

Banked 30 pips from GBPJPY earlier and took a bit of a punt on this GBPAUD sold the double top on hrly chart so worth a go , cost me a bit to get in but thats the trouble with punts....

post news trade on GBPCAD wonder how far this might go???

Took a quick 30 there....more news on CAD shortly so just bank some profit..

If it breaks this level we're away, will it or won't it?? At BE as a strong level to break but you never know????

One more on EU. Entered bit late because the quarter line made me nervous. Instead I took the breakout, Clive's most dreaded trade.

Ha Ha yea just love those breakout trades.....

Mind you those are the setups where they do work well as theres been a bit of support biult up to breakout from so they tend to work well and get away from your entry as yours did...Just took one myself on GBPJPY but its not really breaking out so at BE lets see what happens...

Why did you close out at 7 pips??? Can't see a sign of it faltering until the next 25 level, you gotta have a little more belief in your strong trend behind you, I usually wait until it falters at least a little bit....

Mind you who am I to talk about believing in your strong trend behind you???

Took 30 pips out of this GBPCAD move but there was more like 80 available and the trend din't look dented did it???



GBPCAD still top trender and has been since the news release, just gotta have a bit more belief...

Mind you who m I kidding next time it will spin round and I'll be out for nowt and claiming we have to grab orphans..

Guess the answer is to just be happy if you come out in front regardless of what happens afterwards, hindsight is a powerful tool for sure, get em right everytime with hindsight....

Still licking my wounds I guess. I left a lot of pips on the table in the GU trade earlier too. Need to get more exact in these entries, then go from there.

Here is an excellent short read on exits. I like the premise of it. https://therethinkgroup.net/nailing-better-trade-exits/

Thoughts?

GBPAUD setting up well especially if it gets back to that 1.9400 level gotta go from there?????

Didn't get that low but thats why I have pending orders just above the price as it pulls back just in case it goes early...

Just having a play with the Sydney open....



Not a top trender but I'm getting more and more interested in just taking those first two CCI signals after the 120HMA turns over.. Thinking that might be the way to bigger winners..

One of the things we are always trying to do is identify the hrly signals and trade them on the 1 minute chart , well have a look at this HRLY chart of GBPJPY today and the ABCD move inside the white box...



Now look at the 1 min chart zoomed right out showing the same 1 hr ABCD, see how the 120HMA turns are the 1 hr signals??? So if we can identify the 120HMA turns that are HL's or LH's on the 1 hr top trenders then take first 2 CCI signals we've got a chance of some bigger RR's....



Trouble is of course we don't know which 120HMA turn is going to be the one to start the hrly move, always very clear afterwards but not so clear durring the move, so we have to just take them all on a strong trending HRLY chart...

Strong hrly trenders..



Top HRLY Trender GBPUSD showing that the first 2 moves are the best would of been nice traded on the 1 min today I'll bet, so just look for an hrly 120HMA turn and the hrly CCIs signal drop down to the 1 min and when the 1 min 120HMA turns up take first two entries...



Heres the top 4 hrly trenders from today see how the first 2 signals work??? Of course we don't know they are going to develop into top trenders but guess we're just have to take the 120HMA turns on the hrly and see what happens when we drop down to the 1 min charts...



Works on all timeframes....

Trouble is I haven't got the patience to trade it.....

Just to let you know I've edited the previous post with some more charts etc...

I've been looking at a lot more hrly charts and trying to see how the 1 min turns shape up and I'm not convinced its that easy, theres a lot of signals that simply just don't work, just like any other timeframe...

The thing that is starting to shine through is to trade these 120HMA turns on the 1 minute if they appear to be "C" points on a higher timeframe ABCD move, so I'm thinking more and more about qualifying the 120HMA turns that we trade. Want to see a nice strong AB move then a shorter BC move so now we can believe its a higher timeframe ABCD move and trade the CD move on our 1 min chart.

Like I've said many times before I'd rather take the 120HMA turn get to BE and then look up to see what I've caught. If it appears to be a higher timeframe CD move then target our TP from the AB=CD equation..

heres a chart to explain what I mean of GBPUSD which we now know was a good chart to trade today but how could we of identified it at the time???



We can see the AB move of about 100 pips, then the 120HMA turns back down for the pullback BC leg. When it turns back up about 50% retrace then we have a clue theres a possible CD leg of 100 pips coming so we take that turn, it qualifies as the BC leg being shorter than the AB move up.

Take the first 2 CCI signals that you can get to hold and then target AB=CD , I've put the FIB extension of 100 on the chart, but this move falls a few pips short but close enough. Thats the only way I think we can realistically trade higher timeframe moves from our 1 minute charts, other than that its "Hug an Orphan" every time...

EDIT: I still think there will be a lot of heart break trying to trade these higher timeframe signals as they look cleasr enough after the fact but so many that setup will in fact let us down and thats the problem... Can we trade through that frustration????

Wheres my little Orphan gone????

I would have jumped ship at the first little retrace on the C-D leg. Unless I had a lot of faith in a fib reading or a MACD reading from a higher timeframe. What did a higher timeframe CCI look like below that retrace?

Yes thats the issue to be honest for me too.. Its almost impossible to hold through a pullback and be 100% confident its going to go back with your trend. Thats the big issue with exits and holding through pullbacks. We never know when that pullbacks gonna go just a few more pips and all of a sudden you're staring at a full blown reversal and all your profits are blown too...

I regularly look into this higher timeframe moves but to be honest I'm not convinced its possible to take the higher timeframe runs off of the 1 min entries as theres just too much waving up and down and retracing more than 100% so constantly at BE... Even though its a fact that every hrly run must start with a 1 min turn in that direction its very hard to actually catch that last turn down that sticks..more often than not its not the last turn down, in fact too often if I'm honest so again I'm firmly coming to the few just stick to the ABCD move and just try to workout where D is probably going to be and if price falters, then bank.....

Then just take the next ABCD setup and see what you get , but more importantly just be content if its a winner....

Heres a quick example of higher timeframe qualification of a 120HMA turn, this 1 min chart signal looks good to go on the higher timeframe picture but its against our daily trend???

But its looking like a HL on hourly trend so worth trading for the bigger move, lets see what happens??



And the bigger picture HL??