Preliminary impulse direction determination | Forex Factory

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Preliminary impulse direction determination

  • #1
  • First Post: Feb 16, 2016 6:33pm Feb 16, 2016 6:33pm
Hello everyone!
Im a day trader. I operate major currency pairs intraday.
Lets share some trading experience of preliminary impulse direction determination and its rate range in a short-term period and intraday in this thread.
I will share and discuss my own methods and treatments with everybody who are interested.
  • #2
  • Feb 16, 2016 9:00pm Feb 16, 2016 9:00pm
Plz go ahead
  • #3
  • Feb 16, 2016 10:15pm Feb 16, 2016 10:15pm
I am subscribed
  • #4
  • Feb 19, 2016 3:00am Feb 19, 2016 3:00am
Sometimes for preliminary momentum determination according to technical analysis figures such as “head and shoulders”, “double bottom/high” etc… I use fractals indicator is configured to 9 and 12 bars for the timeframe H4. Patterns from 12 bars fractals are more convincing than 9 bars fractals.
When price chart has formed two or more fractals I build a ray through highs marked by fractals. The ray is an “neck line” analog in “head and shoulders” figure.
I’ll write in a next post about confirming signals that give specific reference points for market entry and exit.
  • #5
  • Feb 21, 2016 7:45pm Feb 21, 2016 7:45pm
When the price starts to brake through the build on a fractals level on H4 timeframe I switch on a M15 timeframe. I tried another timeframe combinations and found out H4 and M15 are fit the most.
I’m tracking to M15 line brake through. Waiting for correlation recoil back to the line and movement restart to brake through level.
Entry signal - price passing by further the first momentum level on M15.
Loss – price is outside first momentum level correlation on M15.
Profit – price in front average projection level. A projection is made as always in common tech analyze figures such as: “head and shoulders”, “double buttom/high” etc.
  • #6
  • Feb 22, 2016 9:54am Feb 22, 2016 9:54am
Hi!
It's a little bit hard for my understanding. But still I want to puzzle it out.
Could you please attach some screenshot with similar situation to help me find out the point.
Thank you!
  • #7
  • Feb 22, 2016 6:17pm Feb 22, 2016 6:17pm
Quoting Succesman
Hi! It's a little bit hard for my understanding. But still I want to puzzle it out. Could you please attach some screenshot with similar situation to help me find out the point. Thank you!
Hi! It's quite simple. OK. I will prepare screenshots with explanations. Added to this thread.
  • #8
  • Feb 23, 2016 7:13pm Feb 23, 2016 7:13pm
As I promised attaching screenshots
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Image1.png Size: 46 KB
Click to Enlarge Name: Image2.png Size: 42 KB
  • #9
  • Feb 23, 2016 7:57pm Feb 23, 2016 7:57pm
Great method Stewart, thanks for sharing it.
I am subscribed.
  • #10
  • Feb 24, 2016 5:34am Feb 24, 2016 5:34am
What is the P/L ratio in your method? At the screenshots the profit and the loss levels almost the same...
  • #11
  • Feb 25, 2016 9:38pm Feb 25, 2016 9:38pm
Quoting StewartWarr
I use fractals indicator is configured to 9 and 12 bars for the timeframe H4. Patterns from 12 bars fractals are more convincing than 9 bars fractals.
Hi.
12 bars of fractals doesn't happen. Usually an odd number. Maybe you confused number ?
  • #12
  • Feb 26, 2016 2:32pm Feb 26, 2016 2:32pm
Quoting Darryl
Great method Stewart, thanks for sharing it. I am subscribed.
Darryl, you are welcome! Take your time.
  • #13
  • Feb 26, 2016 2:35pm Feb 26, 2016 2:35pm
Quoting moneykiller
What is the P/L ratio in your method? At the screenshots the profit and the loss levels almost the same...
Hello moneykiller.
It’s only one example on the screenshot. The method is accurate algoritm of levels definition for the position. A profit and loss ratio depend on situation and change also. Every situation for order is individual trader’s choise.
  • #14
  • Feb 26, 2016 2:36pm Feb 26, 2016 2:36pm
Quoting AlSmirnoff
{quote} Hi. 12 bars of fractals doesn't happen. Usually an odd number. Maybe you confused number ?
Hello AlSmirnoff.
You are definitely right. Thank you for notification. I messed with numbers a little bit. 11 bars is the right one. I’ll fix it!
  • #15
  • Feb 28, 2016 10:47pm Feb 28, 2016 10:47pm
Quoting StewartWarr
{quote} Hi! It's quite simple. OK. I will prepare screenshots with explanations. Added to this thread.
Thank you!
  • #16
  • Feb 29, 2016 10:50pm Feb 29, 2016 10:50pm
As I can see on screenshots there is a typical “head and shoulders” figure and its working off. Is that always like that fractals form classical technical analysis patterns?
  • #17
  • Mar 1, 2016 12:15pm Mar 1, 2016 12:15pm
Quoting StewartWarr
{quote} Hello AlSmirnoff. You are definitely right. Thank you for notification. I messed with numbers a little bit. 11 bars is the right one. Ill fix it!
OK. Now all became clear.
  • #18
  • Mar 2, 2016 12:34pm Mar 2, 2016 12:34pm
Quoting highwolf
As I can see on screenshots there is a typical head and shoulders figure and its working off. Is that always like that fractals form classical technical analysis patterns?
Hi!
Almost whole price chart consist from technical analysis figures. Fractals help you to separate those one that have more chances to work for you. Meanwhile there are situations in which figures work without fractals. Also to find a figures helps correction moment on M15 timeframe. I use this moment to build signals. And it shows me the ratio of potential profit\loss and a position expediency.
  • #19
  • Mar 2, 2016 5:46pm Mar 2, 2016 5:46pm
Quoting StewartWarr
{quote} Hi! Almost whole price chart consist from technical analysis figures. Fractals help you to separate those one that have more chances to work for you. Meanwhile there are situations in which figures work without fractals. Also to find a figures helps correction moment on M15 timeframe. I use this moment to build signals. And it shows me the ratio of potential profit\loss and a position expediency.
Thanks for the answer! Maybe you can make more screenshots for clarifying all variants? The method is interesting and helpful. Want to figure everything out in it... Thank you again
  • #20
  • Mar 2, 2016 9:57pm Mar 2, 2016 9:57pm
Quoting StewartWarr
{quote} Hello moneykiller. Its only one example on the screenshot. The method is accurate algoritm of levels definition for the position. A profit and loss ratio depend on situation and change also. Every situation for order is individual traders choise.
As for me I always try to determine my profit and loss levels. It's about discipline. I try to make it p/l - 2/1. It's not exact, just something around that.
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