TEB: Daily Strength/Weakness Trading

I couldn't find a trade yesterday - with the counter trade thing happening
But today lots of trades !!

I tried some real short term trades - strength/weakness trading on the hour and 5 minute

Hi TEB,
I take it your timezone is EDT. I'm just trying to pinpoint your entry on the NZD/USD trade above.

From what I can see on the chart attached is that you enter on the break of the low of the retrace starting point of the trending pair?

Or do you take other information into consideration before you place a trade?
Thanks,
David.

I am on the wrong computer for my charts
my entry is a VSA enrty kind of
I watch volume but I may not use it always
I think you have the right place but not the reason I did
(but yours is a good one)
Here was mine

To Sell
I determined the trend
Based on the hour by Strength/Weakness
It was Down on this pair

Then I moved to the 5 minute charts
(1) I want the 5 SMA to be arching down
(2) I want Price over the 5 SMA
(3) I want price to break under the 5 SMA
(4) I want price to close 2 to 4 pips below the low of (3)
(5) I love very small or very large candles on very small or very large volume - Pick any two.
(6) if I miss a trade, I wait for price to revisit the area of (3) and/or (4)
(7) I place a stop based on the last Swing high
(8) I watch the round numbers as well for stops and targets
(9) I normally look to a 3 to 1 RRR
(10) but in this case I was doing 1+ spread to 1 RRR
(11) I set and forget until...
(12) on small trades I would close before noon


TEB

Hello TEB. After regarding your rules for your short on NZD/USD, here is a screenshot of the entry I would have made if I did trade that pair at that time at around same price.

1) Weakness in the background as price is moving downward and 5 SMA slope is down on 5 min chart.
2) First arrow candle close 4 pips under 5 SMA. We then wait for a VSA sign to confirm our entry. (I love VSA stuff to pinpoint background, justification of trade and entry.
3) 3 candles later we got our entry signal and the 2nd arrow. A No demand in the form of a doji. Narrow spead with volume less then the previous 2 candles.
4) I would have entered on the opened of next candle at 0.6469 which is the 3rd arrow.
5) Exit would have been on the 4th arrow candle as candle closed as another doji (which can shows some uncertainty) and a narrow spread on volume less then the previous 2 candles (no supply candle).

InnerGrowth

A long time to find trades today

tomorrow is NFP

be careful

I am done for the week didn't do NFP

I have not been on this thread for a time
I really only trade two system right now
(I am working on and testing a 3rd a hedging system)

In the summer I do a strength/weakness trading because the pros or off
most of the other time I use more of a price action trading
cheers

TEB

Attachment

watching for a change

I am looking at doing only VSA - strength and weakness
if anyone wants to post or watch they can
keep it simple - VSA only

there are a lot of ways to trade we will only use VSA
some rules -
Tools
1. Bars or candle (best HCL Bars)
2. One MA on the charts
3. Volume
4. MA on Volume (I use BBand to show high and low)
5. Its ok to run some kind of scan to find pairs - I may post my scans from time to time
6. Best to use multi time frame - 3 time frames

here are the terms I use

Change of Behaviour maybe forming on the hour and 4 eurusd and pound - worth watching