High Probability Insight: Day-Trade Daily Momentum on M1/M5TF | Page 56 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Daily Trading Strategy [ADR + RSI = High Probability] 904 replies

High probability trade setups for day trades and swing trades 4 replies

What is a 'high probability' trade? 7 replies

High Probability Trade Setups 212 replies

what can keep a working strategy to always have a high probability to win each trade? 9 replies

Attachments: High Probability Insight: Day-Trade Daily Momentum on M1/M5TF
Exit Attachments

High Probability Insight: Day-Trade Daily Momentum on M1/M5TF

  • #1,101
  • Jan 6, 2017 2:22pm Jan 6, 2017 2:22pm
Quoting kofix11
Thanks OJ !
You are welcome mate!

Feel free to ask questions and post your trade setups anything!
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #1,102
  • Jan 6, 2017 2:27pm Jan 6, 2017 2:27pm
U.S. Payrolls Rise 156,000 as Wages Increase Most Since 2009

The U.S. labor market turned in a solid performance at the end of 2016, sending job gains above 2 million
for a sixth year as paychecks rose by the most during the current expansion.

The 156,000 increase in December payrolls followed a 204,000 rise in November that was bigger than
previously estimated, a Labor Department report showed Friday in Washington.

The median forecast in a Bloomberg survey of economists called for a 175,000 advance. The jobless rate
ticked up to 4.7 percent as the labor force grew, and wages rose 2.9 percent from December 2015.

More Reading:

Note: We can easily use that information to build up our plan for the next week or the next weeks to come. Hope
some of you took advantage of that news and run with it.
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #1,103
  • Jan 6, 2017 2:29pm Jan 6, 2017 2:29pm
GBP/CAD, M30TF

That was my only safe bet, but I chickened out before going to bed. LOL!

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2017-01-06 14.27.15.png Size: 106 KB




Overall, the pairs selected did somewhat very well, especially during the U.S Open.....More pips to come yall!
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #1,104
  • Edited 1:58pm Jan 8, 2017 1:39pm | Edited 1:58pm
Hello Octave,

Finished reading all 56 pages. Liked this very simple idea of trading. But the thing i liked most is your consistency, for the past 1 & half year u followed the same routine & the same trading style. Congratulation mate. I wish i could, been with forex since July of 2015, but there was gap of 6 months or more because of my profession. Any way trying to gasp it. I tried scalping few days & was doing good, but later i found i cant cope up with it, requires enormous attention & for the whole session you have to stick your eyes to monitor. Also for my profession i wont be able to do that. Anyway i tried automatic trading through dashboards, trying that still. Manual trading is always great.

I liked your approach of choosing pairs & then using fundamentals, technicals together in a trade. Truly i never used fundamentals, trying to read & understand the news & how they impact. I will closely follow your news posting & the notes along with them. Hopefully i will be joining with the ride with you. I also want to give importance to the process not the ratio of win & lose or gaining pips.

I would like to suggest something, i mean what i found i want to share. Hope you wont mind, i saw you always welcome new ideas & opinions.
I used the Forexprofitsupreme metre along with csdash (settings as 1 day). They both give the same data. You can check on the Honestknave's csdash thread how it calculates the strength.
Attached Image (click to enlarge)
Click to Enlarge Name: dash.png Size: 101 KB

My suggestion is if we select csdash as 1 week it will give the 1 week strength of currencies. Beside if we use 1 day as settings, we can choose the pairs to trade & then monitor for better entry keeping an eye on the news.
Attached Image (click to enlarge)
Click to Enlarge Name: dash1.png Size: 73 KB


Any way, i will be following your everyday pairs & posts. You are doing great, keep it up mate.

Cheers.
How big can you think!
  • #1,105
  • Jan 8, 2017 9:29pm Jan 8, 2017 9:29pm
Quoting Aar
Hello Octave, Finished reading all 56 pages. Liked this very simple idea of trading. But the thing i liked most is your consistency, for the past 1 & half year u followed the same routine & the same trading style. Congratulation mate. I wish i could, been with forex since July of 2015, but there was gap of 6 months or more because of my profession. Any way trying to gasp it. I tried scalping few days & was doing good, but later i found i cant cope up with it, requires enormous attention & for the whole session you have to stick your eyes to monitor....

Hello Aar,

This is incredible mate, I always wanted to find a dashboard that could give me enough data to maintain
a Trend for more than 3 days, and based on your suggestion, I think that csdash might be the candidate...

I did check Honestknave thread for a few minutes, but I still need to find the latest version tho... If you
don't mind, you can post it here so that I can give it a try and see its performance for the next 2-3 weeks or so.

There's something you said here that is very powerful, and not many people will agree with that....More too
often, we get so caught up on showing our gains and percentages, but failed to value the PROCESS itself.
The process gives us a certain level of clarity, and we know exactly what to do based on our expectations.

One of the reasons why I have been very consistent on my Daily Routine is because I wanted to treat Trading
as a Business and I allowed myself to be vulnerable so that I can learn every single day.

Despite my Approach on finding entries on M5TF and M1TF, I still do my analysis on Higher TF, so if you are not
a Big Fan of scalping ( so am I ), you can still trade the market the same exact way by keeping your eyes open
on the Daily Sentiment.

Btw, thanks for your kind words, and you are more than welcome to add values to this thread whenever you can.
I would really appreciate it if you focus more on the Weekly Trend so that I can compare notes....

Jay
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #1,106
  • Jan 9, 2017 12:42am Jan 9, 2017 12:42am
Hello Octave,

Thanks for the kind words mate. Yes that dashboard maybe the right candidate. Here is the latest version download link, this version will expire june 2017. Anyway still 6 months to go, then developer may extend its expiry, still great thanks to him for this excellent dashboard.
http://www.forexfactory.com/showthre...60#post9335960

I also respect forex as a business. As long as we respect the business, she will return the respect in good profit.

Anyway i started my scanning already. At the moment csDash 1day & 1 week showing same data. After 1 or 2 days you will see csDash 1 week is steady & 1 day is changing same like forexprofitsupreme meter.

I would like to see your scan report. I have chosen as follows:

Long Templates : UsdJpy, AudJpy, AudNzd
Short Templates : GbpUsd, GbpAud, NzdUsd

1 Aud medium impact news came out, where actual is greater than forecast & better than previous. Aud is sentiment is strong. Please correct me if i am reading correct mate.
Attached Image (click to enlarge)
Click to Enlarge Name: Aud news.png Size: 68 KB


GbpAud Daily chart seems a good possibility for short. I took a short entry based on M5.
Attached Image (click to enlarge)
Click to Enlarge Name: GbpAud daily.png Size: 57 KB

I took another short entry on GbpUsd, took 20 pips & then entered another short entry. Both GbpAud & GbpUsd short in progress.
Attached Image (click to enlarge)
Click to Enlarge Name: GbpAud m5.png Size: 57 KB

Attached Image (click to enlarge)
Click to Enlarge Name: GbpUsd m5.png Size: 61 KB


So far these are my entries. Looking for opportunities on the rest of the pairs. I will also check the GBP medium impact news that is coming in an hour or so & the london opening.

Cheers.
How big can you think!
  • #1,107
  • Jan 9, 2017 3:10am Jan 9, 2017 3:10am
Quoting Aar
Hello Octave, Thanks for the kind words mate. Yes that dashboard maybe the right candidate. Here is the latest version download link, this version will expire june 2017. Anyway still 6 months to go, then developer may extend its expiry, still great thanks to him for this excellent dashboard. http://www.forexfactory.com/showthre...60#post9335960 I also respect forex as a business. As long as we respect the business, she will return the respect in good profit. Anyway i started my scanning already. At the moment csDash 1day &...

Your Reading on AUD Strength was correct, and GBP/AUD was the perfect pair to trade during the Asian Session.
I did miss out on that move, because I was reading CsDash and by the time I scanned the market for Sunday
Night Watchlist, It was a bit too late to jump in...


Depending on where you got in, GBP/AUD drop more than 130+ pips....You must be enjoying that move mate. LOL!

Here's CsDash in Action:

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2017-01-09 03.08.35.png Size: 89 KB
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #1,108
  • Jan 9, 2017 3:10am Jan 9, 2017 3:10am
Gbp medium impact news came out, which is actual>forecast . As a result GBP getting strong in sentiment.
Attached Image (click to enlarge)
Click to Enlarge Name: Gbp news.png Size: 63 KB


My both GbpUsd & GbpAud shorts are in progress. Gbp is getting stronger, will keep an eye, may have to exit if she becomes very strong.

Cheers.
How big can you think!
  • #1,109
  • Jan 9, 2017 3:19am Jan 9, 2017 3:19am
Quoting Aar
Gbp medium impact news came out, which is actual>forecast . As a result GBP getting strong in sentiment. Gbp news.png;2131271 My both GbpUsd & GbpAud shorts are in progress. Gbp is getting stronger, will keep an eye, may have to exit if she becomes very strong. Cheers. {image}

Based on the Current Market Sentiment, GBP is still weak and if there's going to be a turning point in the market,
this indicator will help you to see it coming, and my template will confirm it as well...

So, If you don't have that indicator yet, just add it to your arsenal.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2017-01-09 03.16.25.png Size: 80 KB
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #1,110
  • Jan 9, 2017 3:26am Jan 9, 2017 3:26am
Here's what I am looking at on GBP/AUD now:

Daily Target has been reached and maybe if there's still momentum to the downside, we might see more
action.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2017-01-09 03.22.21.png Size: 108 KB
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #1,111
  • Jan 9, 2017 3:34am Jan 9, 2017 3:34am
Current Market Condition/Sentiment: ( Observation ONLY )

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2017-01-09 03.30.30.png Size: 107 KB



Note: I am a bit too late to the party, but I will observe the market for a bit before going to bed...
Think of Monday as a construction day, it will tell you exactly where the market wants to go throughout
the week, so if you missed out on some pips like myself, just be patient and wait for the next wave.
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #1,112
  • Jan 9, 2017 3:47am Jan 9, 2017 3:47am
Monday, January 9th @ 3:43amCST


Trend Direction and Strength ( Low TF Market Bias )

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2017-01-09 03.45.08.png Size: 81 KB



Here's My Current Watchlist for the Day:

(Note: It's best to pick a watchlist at the Beginning of each Session)


Upload LongTradeONLY Template on:

AUD/USD, M5TF
NZD/USD, M5TF


Upload ShortTradeONLY Template on:

GBP/AUD, M5TF
GBP/NZD, M5TF
GBP/JPY, M5TF
USD/JPY, M5TF


Default Settings: -25pip Risk / +(25 or 50)pip Reward / +15pip Trail Stop [Manual Activation is needed]

Trading Hours: 17:00GMT -20:00GMT

Note: Market Sentiment can change at any given moment, and it's important that you follow your rules of
Engagement before placing any trades.
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #1,113
  • Jan 9, 2017 3:48am Jan 9, 2017 3:48am
Hello Octave,

Thanks mate. Yes mate both shorts are running good. Currently GbpAud at +125 & GbpUsd at +45. As long as the process is the priority pips are nothing.
Thanks mate, ok i will add that indi to the arsenal. But how will you get the turning point, if the short term arrows turnover.
Ok mate, have a good sleep, will see the party in the US session. Ok i will observe too, will look for your suggestions.
Right, patience is important, because opportunities will be there always.

Cheers.
How big can you think!
  • #1,114
  • Jan 9, 2017 4:06am Jan 9, 2017 4:06am
Alright mate, indicator added to the arsenal & loaded the templates on the pairs. Looking for suitable entry.

Cheers.
How big can you think!
  • #1,115
  • Jan 9, 2017 4:12am Jan 9, 2017 4:12am
Quoting Aar
Hello Octave, Thanks mate. Yes mate both shorts are running good. Currently GbpAud at +125 & GbpUsd at +45. As long as the process is the priority pips are nothing. Thanks mate, ok i will add that indi to the arsenal. But how will you get the turning point, if the short term arrows turnover. Ok mate, have a good sleep, will see the party in the US session. Ok i will observe too, will look for your suggestions. Right, patience is important, because opportunities will be there always. Cheers.

Turning Point?

Basically, A Bullish Divergence on M5TF will give you a Heads-up, but it won't mean anything until the Arrow Signal(BuySignal) changes
in combination with Deep Bar Indicator....

Congrats on your Massive Profits mate, clearly you were at the right time and at the right place. HAHA!

Later then!

Jay
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #1,116
  • Jan 9, 2017 4:15am Jan 9, 2017 4:15am
Quoting OctaveJay509
{quote} Turning Point? Basically, A Bullish Divergence on M5TF will give you a Heads-up, but it won't mean anything until the Arrow Signal(BuySignal) changes in combination with Deep Bar Indicator.... Congrats on your Massive Profits mate, clearly you were at the right time and at the right place. HAHA! Later then! Jay
Thanks mate, ok i will check.

Haha, see you mate.
How big can you think!
  • #1,117
  • Jan 9, 2017 6:52am Jan 9, 2017 6:52am
Entered short UsdJpy, was waiting for this suitable point. Came out with 1:1. Waiting for another entry.
Attached Image (click to enlarge)
Click to Enlarge Name: UsdJpy 1.1.png Size: 63 KB


My previous shorts on GbpAud (currently at 1:3, max reached 1:4), GbpUsd (currently at 1:1, max reached 1:2.5) still in progress.
I took 2 more short entries on GbpNzd & GbpJpy.

GbpAud, GbpUsd, GbpNzd, GbpJpy they all showing good possibility on daily chart.
Attached Image (click to enlarge)
Click to Enlarge Name: GbpUsd daily.png Size: 54 KB

Attached Image (click to enlarge)
Click to Enlarge Name: GbpAud daily.png Size: 55 KB

Attached Image (click to enlarge)
Click to Enlarge Name: GbpNzd daily.png Size: 57 KB

Attached Image (click to enlarge)
Click to Enlarge Name: GbpJpy daily.png Size: 53 KB


10 minutes to NewYork open.

Cheers.
How big can you think!
  • #1,118
  • Jan 9, 2017 8:03am Jan 9, 2017 8:03am
Quoting Aar
Entered short UsdJpy, was waiting for this suitable point. Came out with 1:1. Waiting for another entry. UsdJpy 1.1.png;2131625 My previous shorts on GbpAud (currently at 1:3, max reached 1:4), GbpUsd (currently at 1:1, max reached 1:2.5) still in progress. I took 2 more short entries on GbpNzd & GbpJpy. GbpAud, GbpUsd, GbpNzd, GbpJpy they all showing good possibility on daily chart. GbpUsd daily.png;2131635 GbpAud daily.png;2131637 GbpNzd daily.png;2131639 GbpJpy daily.png;2131642 10 minutes to NewYork open. Cheers. {image} {image} {image} {image}...

I don't think the market was READY for your aggressiveness mate, you are KILLING it right now....HAHA

I had the same SellEntry on USD/JPY and got out with a quick 30+pips. Great Job on your part.

When I look at the Daily Chart on GBP/AUD and GBP/NZD, the drop today is really nothing compare to what's
coming... I am talking about a Massive STORM. ( I did predict it about a week ago....Theresa May, UK Prime Minister
is losing her mind)

Since you are involved in several GBP pairs, you need to focus on managing your RISKS and protect some profits
in the process.
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #1,119
  • Jan 9, 2017 8:08am Jan 9, 2017 8:08am
Trend Direction and Strength Update ( 8:07amCST ) - Low TF Market Bias


Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2017-01-09 08.07.16.png Size: 80 KB
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #1,120
  • Jan 9, 2017 8:28am Jan 9, 2017 8:28am
Quick Update on GBP/AUD:

The Second Target has been Hit ( 1.65500ish )....Price Action needs to take a Break

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2017-01-09 08.27.14.png Size: 104 KB
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
1 trader viewing now