Dislikedbuying uj pre nfp. Will close if it doesnt see enough + movement before announcement {image}Ignored
- #30,762
- Edited 6:52am Jan 22, 2017 6:42am | Edited 6:52am
Thank God, IFMYANTE didn't create this thread. He trolls with forex factory members in his thread all the time, but he says others are trolls.
Thank god we have real master (RED) and his pubil's created community here. Enough for me
I understand why most of RTM thread contains fight, because he create fight with everyone and anyone.
Last post about him, sorry for non sense.
Thank god we have real master (RED) and his pubil's created community here. Enough for me
I understand why most of RTM thread contains fight, because he create fight with everyone and anyone.
Last post about him, sorry for non sense.
:
- #30,766
- Feb 22, 2017 6:43pm Feb 22, 2017 6:43pm
- Joined Feb 2009 | Status: Illegitimi non carborundum | 3,526 Posts
{quote} This thread is gold, I'm still at page 9 but learning alot!
Enjoy your journey. Many have.
Rufus
RELEASE
Illegitimi non carborundum - Noli pati a scelestis opprimi.
Hello all, just wanted to post some price configurations that l trade often. I am more or less a swing trader or range trader. They are essential enguilfing whipsaw patterns at key levels and and work well in my trading plan. I also reduce all noise from my charts as its just a distaction to me. Hope you see these too and take advantage. They occur on all tfs and any pair, Got some examples http://i42.tinypic.com/15zmp8z.gif http://i41.tinypic.com/24qsnrd.gif not sure if the links will work, first time l am posting anything....
Keep up the good work!
- #30,775
- Feb 27, 2017 7:16pm Feb 27, 2017 7:16pm
- Joined Feb 2009 | Status: Illegitimi non carborundum | 3,526 Posts
Illegitimi non carborundum - Noli pati a scelestis opprimi.
- #30,776
- Feb 27, 2017 7:56pm Feb 27, 2017 7:56pm
- Joined Mar 2012 | Status: Trader | 14,323 Posts
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
Goodmorning evrybody
I stumbled on this style of trading a couple weeks ago and found it VERY interesting.
Once you get the right level picking down you can clearly see entry points, SL and TP levels....
So. the name of the game is "picking the right levels"...of course related to the right market conditions.
So here is my practice take on the concept :
I'd like to build a methodology for having a couple of trades a day, so my first hint is to use 4H-1H-15m for multichart analysis, of course correct me if i am wrong!
Here is Eur/Usd chart from this morning my time (Germany).
Price is on a large bullish retracement (You can see the sequence of higher highs and lows on the H1 image) that did break the descending channel from a strong bear movement.
here is the H4 chart
From the H1 chart, I found a level around 1,0546 (the middle yellow stripe) that could act as a demand zone in the near future.
Confluences : 61,8% fib retracement from the last bullish swing + 88,6 fib fan + 1:1 harmonic completion from the latest sellout from the high (see the H1 picture for reference).
If the price come back to this level is also VERY possible that it will fall out the low Bollinger Band.
So In theory a "textbook" long....
I have a limit long at 1,05410, stop at 1,05277, and TP at 1,06078 for an unbelieveble RR 5:1!!
Again, you can see the levels on the chart...
And of course I am just a student, so basically my question is if this train of thoughs of mine can make any sense.
I am nowadays at the stage of isolating the good levels from the bad, and I DO NOT find the challenge that easy.
How did You do that guys? Is it just building the eye with tons of practicing and screen time?
Already a ton asked Sorry, but I am indeed a "passionate guy"
I thank you in advance if you will take the time evaluate and comment.
maxx
I stumbled on this style of trading a couple weeks ago and found it VERY interesting.
Once you get the right level picking down you can clearly see entry points, SL and TP levels....
So. the name of the game is "picking the right levels"...of course related to the right market conditions.
So here is my practice take on the concept :
I'd like to build a methodology for having a couple of trades a day, so my first hint is to use 4H-1H-15m for multichart analysis, of course correct me if i am wrong!
Here is Eur/Usd chart from this morning my time (Germany).
Price is on a large bullish retracement (You can see the sequence of higher highs and lows on the H1 image) that did break the descending channel from a strong bear movement.
here is the H4 chart
From the H1 chart, I found a level around 1,0546 (the middle yellow stripe) that could act as a demand zone in the near future.
Confluences : 61,8% fib retracement from the last bullish swing + 88,6 fib fan + 1:1 harmonic completion from the latest sellout from the high (see the H1 picture for reference).
If the price come back to this level is also VERY possible that it will fall out the low Bollinger Band.
So In theory a "textbook" long....
I have a limit long at 1,05410, stop at 1,05277, and TP at 1,06078 for an unbelieveble RR 5:1!!
Again, you can see the levels on the chart...
And of course I am just a student, so basically my question is if this train of thoughs of mine can make any sense.
I am nowadays at the stage of isolating the good levels from the bad, and I DO NOT find the challenge that easy.
How did You do that guys? Is it just building the eye with tons of practicing and screen time?
Already a ton asked
Sorry, but I am indeed a "passionate guy" I thank you in advance if you will take the time evaluate and comment.
maxx
If you quit, it is NEVER going to happen...
{quote} Thumbs up to you. the traditional way shown here was just to fade at origin of spikes. You seen this for just a couple of weeks & you have seen what many have missed. By using fibs + inner trendlines. you have increased your edge severely. Add another condition to take only with-trend (higher tf trend) trades, will filter for higher probability / R:R trades.
As a matter of fact, i was referring at the swing marked AB on the 4H chart as the SD curve....at that moment price happened to fload somewhere in the middle...so maybe not the best conditions to trade.
The result was NOT satisfaying, my order was filled and stopped out straight away, here is the updated chart
Price has rallied to retest the recent high (negating the 1:1 harmonic completion) and then sold massively till piercing the Yellow zone like butter.
Like I said before, really not that simple to isolate the good zones from the bad ones (note there was also additional confirmation from price falling outside the BB)
Probably the zone I marked was not a demand but a swing low on the 1H, since there was not consolidation at the level, no basing candles, and also the low wicks were relatively long.
And although there was basing candles on the 15m chart, I based my case for entry mostly on convergence........Any suggestion and critics are very welcome
Thank You
maxx
If you quit, it is NEVER going to happen...
here is another i'm lookin at right now
gold is coming down swiftly from the high at 1263,66
the demand i am watchin at is the one in grey.
Confluence : 1,987 fib ext from the first correction from the high + inner trendline + price probably out of the lower bollinger at the reach of the level.
You can see the levels of the buy limit on the chart. In this case also we are around a nice RR 5:1 (this is something i like so much in this metodology)
A look at the 4H
what I am concerned here is the confluence of 61,8 fib retr with the 88,1 fib fan straight on my SL level (look nr 3).....the other two crosses are straight on my entry level (look nr 1 and 2)
right now price is on the upper half of the 4h curve...but will be around the middle if my entry gets hit.....something to take into consideration?
The original demand on my radar is here also visible enough (the grey rectangle), and looks fresh AND original.
Ok, ready to rock! I would really appreciate any help to a deeper understanding and grow...one of my biggest goal, like any of us I am sure, is to give back as soon as possible
Thank You
maxx
gold is coming down swiftly from the high at 1263,66
the demand i am watchin at is the one in grey.
Confluence : 1,987 fib ext from the first correction from the high + inner trendline + price probably out of the lower bollinger at the reach of the level.
You can see the levels of the buy limit on the chart. In this case also we are around a nice RR 5:1 (this is something i like so much in this metodology)
A look at the 4H
what I am concerned here is the confluence of 61,8 fib retr with the 88,1 fib fan straight on my SL level (look nr 3).....the other two crosses are straight on my entry level (look nr 1 and 2)
right now price is on the upper half of the 4h curve...but will be around the middle if my entry gets hit.....something to take into consideration?
The original demand on my radar is here also visible enough (the grey rectangle), and looks fresh AND original.
Ok, ready to rock! I would really appreciate any help to a deeper understanding and grow...one of my biggest goal, like any of us I am sure, is to give back as soon as possible
Thank You
maxx
If you quit, it is NEVER going to happen...