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  • #161
  • Apr 18, 2016 7:52pm Apr 18, 2016 7:52pm
Quoting spyderman
Winston, Just stumbled on your thread this evening an read through it. Looking forward to reading the PDF as well Very interesting system here. I'm a fan of higher TF's. I look forward to contributing.
​Welcome!
  • #162
  • Apr 18, 2016 8:31pm Apr 18, 2016 8:31pm
Quoting spyderman
Winston, Just stumbled on your thread this evening an read through it. Looking forward to reading the PDF as well Very interesting system here. I'm a fan of higher TF's. I look forward to contributing.
What's really nice is that he uses true S/R and waits for the rejection. Nice, boring, trading!
If you are good at something, never do it for free--Joker
  • #163
  • Apr 18, 2016 11:42pm Apr 18, 2016 11:42pm
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  • #164
  • Apr 19, 2016 12:39am Apr 19, 2016 12:39am
I like this thread very much, clean and technical without indicators, great!!!
  • #165
  • Apr 19, 2016 8:00am Apr 19, 2016 8:00am
Quoting Winston Reed
{image} {image}

I actually took that trade last evening as well (Trade was live on different platform so doesn't show on pics. Entry at .9638). I was a bit unsure with that BuLBC to the left. What are your thoughts on that?
Trade note: I've moved to BE at + 20 due to my uncertainty...

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  • #166
  • Apr 19, 2016 8:52am Apr 19, 2016 8:52am
Quoting Winston Reed
{image} {image}
Red to Black, Black to Red! Good use of colors Winston, IMHO.
If you are good at something, never do it for free--Joker
  • #167
  • Apr 19, 2016 11:02am Apr 19, 2016 11:02am
Closed 3/5. Remaining 2/5 just shy of BE. The daily BuLBC is noted.
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  • #168
  • Apr 19, 2016 11:09am Apr 19, 2016 11:09am
Quoting spyderman
{quote} I actually took that trade last evening as well (Trade was live on different platform so doesn't show on pics. Entry at .9638). I was a bit unsure with that BuLBC to the left. What are your thoughts on that? Trade note: I've moved to BE at + 20 due to my uncertainty... {image} {image}
​The weekly BuLBC is still in play so we need to be aware that even though we have a proper daily signal in a weekly BeLBC that price may encounter support at any time. For example the daily BuLBC. I take some profit early just to get something locked in and leave a little in case price pushes through. It is almost always the case their will be some type of opposing forces at play. We just need to take note and be aware of them and take precautions.
  • #169
  • Apr 19, 2016 11:15am Apr 19, 2016 11:15am
The white rectangle denotes the Daily BuLBC where price is currently struggling. Since we are in a valid weekly BuLBC then if today's candle closed a hammer with a bullish close then I would not hesitate to buy. BUT I want a strong convincing candle.
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  • #170
  • Apr 19, 2016 3:42pm Apr 19, 2016 3:42pm
Quoting Winston Reed
The white rectangle denotes the Daily BuLBC where price is currently struggling. Since we are in a valid weekly BuLBC then if today's candle closed a hammer with a bullish close then I would not hesitate to buy. BUT I want a strong convincing candle. {image}
I have noticed that your chart is U/C. Do you prefer lower range currencies, or is this just a chart you chose today?
If you are good at something, never do it for free--Joker
  • #171
  • Edited 4:03pm Apr 19, 2016 3:51pm | Edited 4:03pm
Below is a revision of the first page. The rules are the rules. Please follow or go away. Thank you!
Unfortunately I have removed the skype room.

This thread has two purposes:

1. To illustrate a trading system I currently use that requires minimum time investment.
2. To post live trades to set an example to commercial members who almost never post live trades because they are a bunch of rip-offs.

This method identifies unconventional weekly support and resistance with entries on the daily time frame. This allows me to check my charts and plan trades around 2200 Mountain Standard Time which is when my Oanda (http://www.forexfactory.com/brokers.php?broker=oda) daily candle closes. This is about the London open.

The basic method:

1. Start with the weekly chart
2. Identify the most recent large bearish and bullish weekly candle bodies with bodies larger than the previous 2 or 3 weekly candle bodies. (the candle body is between the open and the close and not the high and the low). There will be one weekly bullish candle and one weekly bearish candle.
3. Identify the 50% level of the candle body.
4. For a bearish weekly candle place a rectangle from the high (yes the high) of the candle to the 50% level.
5. For a bullish weekly candle place a rectangle from the low (yes the low) of the candle to the 50% level.
6. After a long weekly candle closes we want to see price continue past then retrace back into the area of the rectangle.
7. Once price comes back into the rectangle we look for a daily reversal signal on the daily chart within the rectangle for entries. I use Japanese candlestick theory as taught by Steve Nison and Greg Morris to identify reversal signals.

LBC= long bodied candle
BeLBC =Bearish long bodied candle
BuLBC = Bullish long bodied candle

I will post live setups and trades with a live account. No demo.

Posting Rules
1. If you want to contribute and you don't have a high impact status you will need to PM me.
2. Study the PDF carefully and read this entire thread before you ask to post.
3. No claims of making pips are allowed unless accompanied by a chart documenting the trade. Demos are ok.
4. Charts must be relatively indicator-free. No trade should ever be taken at the direction of an indicator.
5. Post your weekly chart and your daily chart.
6. Don't ask if this method works on lower time frames and don't post lower time frame charts. I don't care.


I am comfortable with my method as it is explained in the PDF and not open to modifications so please don't ask.
  • #172
  • Apr 19, 2016 3:58pm Apr 19, 2016 3:58pm
Hi Winston,

Thank you for the update. I have a question: I tried to install a Panda demo account. But I can only log in into servers with ny close. The server -5find should be the right server with 6 candles each week right? That's a problem.... Does somebody now another broker which offers the same candle time like Winston uses?

Thank you in advance.

Kind regards

Ben
  • #173
  • Apr 19, 2016 4:03pm Apr 19, 2016 4:03pm
Quoting kleybenny
Hi Winston, Thank you for the update. I have a question: I tried to install a Panda demo account. But I can only log in into servers with ny close. The server -5find should be the right server with 6 candles each week right? That's a problem.... Does somebody now another broker which offers the same candle time like Winston uses? Thank you in advance. Kind regards Ben
​
Can you get an Oanda demo?
  • #174
  • Apr 19, 2016 4:06pm Apr 19, 2016 4:06pm
Closed it out.
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  • #175
  • Apr 19, 2016 4:12pm Apr 19, 2016 4:12pm
Quoting jmn5611
{quote} I have noticed that your chart is U/C. Do you prefer lower range currencies, or is this just a chart you chose today?
​I'm not sure what you mean by "lower range currencies".

These are the pairs I follow: EurUsd, GbpUsd, EurGbp, AudUsd, NzdUsd, UsdChf, UsdCad, UsdJpy, GbpJpy, EurJpy

If there is a proper setup and signal I'll take the trade. The daily range is inconsequential.
  • #176
  • Apr 19, 2016 4:43pm Apr 19, 2016 4:43pm
Quoting Winston Reed
{quote} ​I'm not sure what you mean by "lower range currencies". These are the pairs I follow: EurUsd, GbpUsd, EurGbp, AudUsd, NzdUsd, UsdChf, UsdCad, UsdJpy, GbpJpy, EurJpy If there is a proper setup and signal I'll take the trade. The daily range is inconsequential.
Wow, those are the exact same pairs I follow. Highlight that if you will, because I have come to believe that veteran traders follow a limited amount of pairs. Newbies are trying to trade everything. One exception is Davit on this forum, he trades exotics well. The rest of us are either unwilling or unable to trade those.
If you are good at something, never do it for free--Joker
  • #177
  • Apr 19, 2016 5:57pm Apr 19, 2016 5:57pm
Quoting jmn5611
{quote} Wow, those are the exact same pairs I follow. Highlight that if you will, because I have come to believe that veteran traders follow a limited amount of pairs. Newbies are trying to trade everything. One exception is Davit on this forum, he trades exotics well. The rest of us are either unwilling or unable to trade those.
​I limit the pairs to limit the time needed for analysis. I'm not desperate to trade. I could care less if I don't trade for a week even two. When you start searching out trades rather than let the trades come to you mistakes get made.
  • #178
  • Apr 19, 2016 6:14pm Apr 19, 2016 6:14pm
Quoting Winston Reed
{quote} ​I'm not sure what you mean by "lower range currencies". These are the pairs I follow: EurUsd, GbpUsd, EurGbp, AudUsd, NzdUsd, UsdChf, UsdCad, UsdJpy, GbpJpy, EurJpy If there is a proper setup and signal I'll take the trade. The daily range is inconsequential.
I closed out my EURNOK (for a loss) - I'll stick to the pairs you mentioned in future..
  • #179
  • Apr 19, 2016 6:20pm Apr 19, 2016 6:20pm
Quoting BubaYaga
{quote} I closed out my EURNOK (for a loss) - I'll stick to the pairs you mentioned in future..
​The pair is one thing but your "gap" entry was the real problem.
  • #180
  • Apr 19, 2016 6:51pm Apr 19, 2016 6:51pm
​Entries occur in the preferred trading area. For example if there is a weekly BuLBC we wait for price to retrace within the weekly BuLBC. We observe this retrace on the daily chart. The signal is based on using Japanese reversal candle/patterns. When a proper daily reversal candle/pattern occurs in the preferred entry area then an entry is entertained. The candle/pattern or market structure provide the SL. Nothing magical about it.

Not every reversal will work.
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