Attachments: Tim Morge (horizontal)

Tim Morge (horizontal)

#21
Aug 17, 2016 2:01pm Aug 17, 2016 2:01pm

stevepatt
Joined Dec 2010 | Status: Never Stop Learning | 7,326 Posts

Quoting ramkirshnava

Disliked

{quote} Steve, On what basis do you set the TARGET. Is it only if you get any Shift in Structure in M1 will you be out of the trade?

Ignored

Hi Ram;

I look to be able to gain 2R before hitting a Swing Level.

I find 2R is a good Target because I want to hit my TP before encountering a Pullback or change of Structure.

Sometimes, after I exit, it continues in my Trade direction if this happens I wait for a Pullback and get into another Trade.

I prefer to take regular small profits without allowing the Market to take away my profit.

#22
Aug 18, 2016 1:08am Aug 18, 2016 1:08am

ramkirshnava
| Joined Jan 2015 | Status: Trader | 99 Posts

Quoting stevepatt

Disliked

{quote} Hi Ram; I look to be able to gain 2R before hitting a Swing Level. I find 2R is a good Target because I want to hit my TP before encountering a Pullback or change of Structure. Sometimes, after I exit, it continues in my Trade direction if this happens I wait for a Pullback and get into another Trade. I prefer to take regular small profits without allowing the Market to take away my profit.

Ignored

Thanks Steve,

When you are entering/re-entering in a pullback how do you know PB is over. Is your entry based on cross over or orderblocks in M1.

Here is what I am referring

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#23
Aug 18, 2016 2:35am Aug 18, 2016 2:35am

stevepatt
Joined Dec 2010 | Status: Never Stop Learning | 7,326 Posts

Quoting ramkirshnava

Disliked

{quote} Thanks Steve, When you are entering/re-entering in a pullback how do you know PB is over. Is your entry based on cross over or orderblocks in M1. Here is what I am referring {image}

Ignored

Hi Ram;

The Market isn't always going to give us what we want to see.

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Name: 18th Aug 16 USD:CAD M5 Observations.png
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#24
Aug 18, 2016 3:38am Aug 18, 2016 3:38am

ramkirshnava
| Joined Jan 2015 | Status: Trader | 99 Posts

Quoting stevepatt

Disliked

{quote} Hi Ram; The Market isn't always going to give us what we want to see. {image}

Ignored

Agreed. So when we see several retests or slow down of buyers in your snapshot - USDCAD) before the expected area for pull back, we should consider that for start of the another leg down?

#25
Edited 12:07pm Aug 18, 2016 10:46am | Edited 12:07pm

stevepatt
Joined Dec 2010 | Status: Never Stop Learning | 7,326 Posts

Quoting ramkirshnava

Disliked

{quote} Agreed. So when we see several retests or slow down of buyers in your snapshot - USDCAD) before the expected area for pull back, we should consider that for start of the another leg down?

Ignored

Hi Ram;

We want to see Market Momentum Break Structure and then wait for a Test of that Market Structure.

We don't know which Swing Level will have significance until we see it on our charts.

We also want to be aware of the HTF Trend so we are more cautious when Trading Counter Trend.

You can see from the Chart below why I like to Target around 2R.

The more Screen Time you have the easier it becomes to be in tune with the rhythm of the Market for the different pairs.

Attached Image (click to enlarge)

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Name: 18th Aug 16 USD:CAD M5 Observations.png
Size: 202 KB

#26
Aug 18, 2016 11:49am Aug 18, 2016 11:49am

stevepatt
Joined Dec 2010 | Status: Never Stop Learning | 7,326 Posts

Quoting stevepatt

Disliked

{quote} Hi Ram; We want to see Market Momentum Break Structure and then wait for a Test of that Market Structure. We don't know which Swing Level will have significance until we see it on our charts. We also want to be aware of the HTF Trend so we are more cautious when Trading Counter Trend. You can see from the Chart below why I like to Target around 2R. The more Screen Time you have the easier it becomes to the rhythm of the Market for the different pairs. {image}

Ignored

It doesn't matter which TF you Trade the same things happen on all TFs, the Market is Fractal by nature.

Setups are a lot quicker to materialise on the Shorter TFs and I am able to Trade with the natural rhythm of the Market.

When Trading the Lower TFs it's important to be aware of the Longer Term Trend so when taking a Trade, on the Shorter TFs, you know whether you are with or against it.

Watch the Charts and you will see it for yourselves.

#27
Aug 18, 2016 2:21pm Aug 18, 2016 2:21pm