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MultiTimeFrame Trend Trading with Price Action

  • #161
  • Apr 2, 2015 4:24am Apr 2, 2015 4:24am
Quoting saruhn
Awesome. {quote} Not at all, your chart analysis is quite logical and straight forward as much as possible i think. {quote} 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.

Hi saruhn;

It's good to get some feed back so I know people are understanding what I'm trying to do, I'm glad you are finding the charts helpful.

Just using the Monthly Levels of Support/Resistance can be frustrating.

I find the Weekly Failure to make a New High or New Low quite often lines up with a Major Monthly Level.

I'm always looking for PA within these Weekly Failure Levels to Trade in line with the Primary Trend.
  • #162
  • Apr 4, 2015 9:22am Apr 4, 2015 9:22am
GBP/JPY W1/D1 Chart

Here's how I'm seeing the GBP/JPY Pair at the moment last Weeks failure to make a New Weekly Low could signal a return to Bullish PA next week.
Attached Image (click to enlarge)
Click to Enlarge Name: 4th Apr 15 GBP:JPY W1:D1 Chart.png Size: 173 KB
  • #163
  • Apr 6, 2015 7:28am Apr 6, 2015 7:28am
EUR/USD W1/D1 Chart

The chart below demonstrates how much easier it is to find Levels of Support/Resistance on the Monthly Chart, that are significant right now, by using the Weekly Chart to find them.

These Weekly Levels are also good places to look for PA to take Trades in line with the Primary Trend.
Attached Image (click to enlarge)
Click to Enlarge Name: 6th Apr 15 EUR:USD W1:D1 Chart.png Size: 171 KB
  • #164
  • Apr 6, 2015 8:08am Apr 6, 2015 8:08am
GBP/USD W1/D1 Chart

Here's the view of GBP/USD
Attached Image (click to enlarge)
Click to Enlarge Name: 6th Apr 15 GBP:USD W1:D1 Chart.png Size: 133 KB
  • #165
  • Apr 13, 2015 3:23am Apr 13, 2015 3:23am
Quoting stevepatt
EUR/USD W1/D1 Chart The chart below demonstrates how much easier it is to find Levels of Support/Resistance on the Monthly Chart, that are significant right now, by using the Weekly Chart to find them. These Weekly Levels are also good places to look for PA to take Trades in line with the Primary Trend. {image}
EUR/USD D1 Chart Sell Trade

Took an Entry on this pair after Monday 6th April's failure to close higher.
Attached Image (click to enlarge)
Click to Enlarge Name: 13th Apr 15 EUR:USD W1:D1 Chart.png Size: 161 KB
  • #166
  • Apr 13, 2015 3:28am Apr 13, 2015 3:28am
Quoting stevepatt
GBP/USD W1/D1 Chart Here's the view of GBP/USD {image}

GBP/USD D1 Sell Trade

Took an entry on this pair after Monday 6th April's failure to close higher.
Attached Image (click to enlarge)
Click to Enlarge Name: 13th Apr 15 GBP:USD W1:D1 Chart.png Size: 159 KB
  • #167
  • Apr 13, 2015 3:39am Apr 13, 2015 3:39am
Quoting stevepatt
GBP/JPY W1/D1 Chart Here's how I'm seeing the GBP/JPY Pair at the moment last Weeks failure to make a New Weekly Low could signal a return to Bullish PA next week. {image}

GBP/JPY W1/D1 Chart

No Trades on this pair until at least the Weekly and Daily Trends are in alignment.
Attached Image (click to enlarge)
Click to Enlarge Name: 13th Apr 15 GBP:JPY W1:D1 Chart.png Size: 132 KB
  • #168
  • Apr 17, 2015 12:34pm Apr 17, 2015 12:34pm
Quoting stevepatt
{quote} EUR/USD D1 Chart Sell Trade Took an Entry on this pair after Monday 6th April's failure to close higher. {image}

EUR/USD D1 Short Trade

Exited this Trade with +102 pips +0.64R
Attached Image (click to enlarge)
Click to Enlarge Name: 17th Apr 15 EUR:USD D1 Chart.png Size: 118 KB
  • #169
  • Apr 17, 2015 12:35pm Apr 17, 2015 12:35pm
Quoting stevepatt
{quote} GBP/USD D1 Sell Trade Took an entry on this pair after Monday 6th April's failure to close higher. {image}

GBP/USD D1 Short Trade

Taken out of this Trade for (-152) pips (-1R)
Attached Image (click to enlarge)
Click to Enlarge Name: 17th Apr 15 GBP:USD D1 Chart.png Size: 117 KB
  • #170
  • Apr 21, 2015 1:38am Apr 21, 2015 1:38am
EUR/USD D1 Shot Trade

Re-entered short on this pair
Attached Image (click to enlarge)
Click to Enlarge Name: 20th Apr 15 EUR:USD W1:D1 Chart.png Size: 139 KB
  • #171
  • Apr 22, 2015 1:45am Apr 22, 2015 1:45am
I'm watching USD/CAD for any Bearish PA at Resistance Level
Attached Image (click to enlarge)
Click to Enlarge Name: 22nd Apr 15 USD:CAD W1:D1 Chart.png Size: 150 KB
  • #172
  • Apr 22, 2015 1:56pm Apr 22, 2015 1:56pm
Quoting stevepatt
{quote} GBP/JPY W1/D1 Chart No Trades on this pair until at least the Weekly and Daily Trends are in alignment. {image}
GBP/JPY W1/D1 Chart

Missed the Long opportunity on this pair now waiting for the market reaction at the Level marked on the chart to take a, Counter Trend, Bearish Trade.

Patience is the key.
Attached Image (click to enlarge)
Click to Enlarge Name: 22nd Apr 15 GBP:JPY W1:D1 Chart.png Size: 165 KB
  • #173
  • Apr 23, 2015 7:04pm Apr 23, 2015 7:04pm
Thank you Steve for your valuable stuff here! People should come and learn 'real' trade in this tread. I myself learned a lot.
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #174
  • Apr 24, 2015 12:43am Apr 24, 2015 12:43am
Quoting heispark
Thank you Steve for your valuable stuff here! People should come and learn 'real' trade in this tread. I myself learned a lot.

Hi heispark;

I'm happy you've found some value in what I'm doing.
  • #175
  • Apr 25, 2015 8:09am Apr 25, 2015 8:09am
Here's something worth considering when Trading.

The market rarely has enough Buy/Sell Orders to sustain Momentum for long.

Eventually it will have to look for a new Supply of Buy/Sell Orders for the market to continue what it needs to do.

As Traders we need to be able to anticipate where these Levels of Pending Buy/Sell Orders will be waiting.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 25th Apr 15 GBP:JPY W1 Chart.png Size: 131 KB
Click to Enlarge Name: 25th Apr 15 USD:CAD W1 Chart.png Size: 133 KB
  • #176
  • Apr 26, 2015 7:06am Apr 26, 2015 7:06am
Quoting stevepatt
EUR/USD D1 Shot Trade Re-entered short on this pair {image}

EUR/USD D1 Short Trade

Taken out of this Trade for (-135) pips (-1R)
Attached Image (click to enlarge)
Click to Enlarge Name: 26th Apr 15 EUR:USD D1 Chart.png Size: 112 KB
  • #177
  • May 5, 2015 7:49am May 5, 2015 7:49am
Hey Steve, could you attach your latest TPL pls?

Thanks!
  • #178
  • May 21, 2015 9:27am May 21, 2015 9:27am
It's been a while since I've posted anything.

I've been re-thinking my whole Trading methodology, the chart below shows my recent results, which apart from two EUR Trades have not been good. Twice within these latest results my account had increased by 10% only for me to let that gain turn into a loss.

It's not that Trend Trading doesn't work it's just been my poor Trade Management that has given me below average results. To Trend Trade you need to be prepared to take a series of losing Trades before getting into the Trend Trades that will wipe out your losses and take you into profit. I don't think I have the psychology to allow for this run of losing Trades before hitting the Winning Trades.
Attached Image (click to enlarge)
Click to Enlarge Name: 21st May 15 Results Chart.png Size: 48 KB
  • #179
  • May 21, 2015 10:15am May 21, 2015 10:15am
As a result of this self discovery I've decided to revert back to Swing Trading the Daily Chart.

I'm using Candle formation alone, with no Indicators, to determine Daily Swing Points. I've tried using various Indicators to help with this but the easiest way is the Candles themselves.

I'm looking for Candles that change colour and fail to make a New High/New Low - Engulfing Candles - Pin Bars - Inside Candles ect I'm looking for a positive close of a Candle with little or no wick, it's a more discretionary way to Trade.

What i like about this, though, is that I have a pre-defined Entry - Stop Loss - Move Stop Loss to BE +10 - Exit

The only other thing that can take me out of a trade is if I get a Reverse Setup.

If anyone is interested in this method of Trading do some back testing for yourselves and you should see how effective it can be.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 21st May 15 EUR:USD D1 Chart.png Size: 201 KB
Click to Enlarge Name: 21st May 15 EUR:JPY D1 Chart.png Size: 158 KB
  • #180
  • May 21, 2015 11:46am May 21, 2015 11:46am
Here's an example of what I'm looking for.

By moving the SL to BE +10 after 0.5R has been reached means even if the Market reverses I at least make something from the Trade.

I
Attached Image (click to enlarge)
Click to Enlarge Name: 21st May 15 EUR:USD D1 Chart.png Size: 134 KB
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