Lather rinse repeat .. move the SL to the new LH.
26 pips locked in now. MACD starting to green.
26 pips locked in now. MACD starting to green.
If I had entered on the Bearish LTF SETUP (tempting) I would be going against the H1 trend. That is dangerous. I would be heading towards the Alligator (same thing - dangerous.)
Have a look at the chart. We have an hourly trends shown by the original bullish H1 SETUP.
Alligator moves up and price moves up out side the Alligator in impulse waves with Counter Trends pulling back into the Alligator.
We get the HH HL sequence in H1.
When you spot a bearish SETUP here don't risk it. When you Spot a LTF bullish SETUP (like the small LTF one shown in blue) it tells you you can go long as you are going away from the Alligator back in step with the overall H1 long Trend. The trend that started back at the break of that original H1 E Line.
Also use the AO to help. In this case Green AO is a smaller trend up and red AO is a counter trend. AO will mostly stay above zero in a long trend as well.
Now having said all that. look at the chart and you see a LTF bearish SETUP has formed. See if you can identify it and think about how to handle it.
I will clean up the chart and post my thoughts on it in the next post.
Have a look at the chart. We have an hourly trends shown by the original bullish H1 SETUP.
Alligator moves up and price moves up out side the Alligator in impulse waves with Counter Trends pulling back into the Alligator.
We get the HH HL sequence in H1.
When you spot a bearish SETUP here don't risk it. When you Spot a LTF bullish SETUP (like the small LTF one shown in blue) it tells you you can go long as you are going away from the Alligator back in step with the overall H1 long Trend. The trend that started back at the break of that original H1 E Line.
Also use the AO to help. In this case Green AO is a smaller trend up and red AO is a counter trend. AO will mostly stay above zero in a long trend as well.
Now having said all that. look at the chart and you see a LTF bearish SETUP has formed. See if you can identify it and think about how to handle it.
I will clean up the chart and post my thoughts on it in the next post.
- #92
- May 17, 2017 9:33am May 17, 2017 9:33am
- Joined Jan 2015 | Status: Trader | 1,005 Posts
Wab,
Trading LTF with so many pips and without scalping but keeping the same trading method as in HTF is a rare thing, indeed. I would have freaked out and toyed around with the SL until I would have lost the trade with too many "what ifs".
Kudos.
I was trying to lay the SETUP onto my charts today, not sure how it went, hope I'll get home early enough to post something up before crashing into bed.
[EDIT]
How many charts are you trading/watching?
And what size/resolution is your monitor? Even zooming out extensively, I can't get mine to show so many bars as yours with good size on the bars, eventually, everything is wither enlarged or turns into ant p**p on my screen.
And on a side note, I'm sure it was the live trade speaking but we're dealing with AO and not MACD
Trading LTF with so many pips and without scalping but keeping the same trading method as in HTF is a rare thing, indeed. I would have freaked out and toyed around with the SL until I would have lost the trade with too many "what ifs".
Kudos.
I was trying to lay the SETUP onto my charts today, not sure how it went, hope I'll get home early enough to post something up before crashing into bed.
[EDIT]
How many charts are you trading/watching?
And what size/resolution is your monitor? Even zooming out extensively, I can't get mine to show so many bars as yours with good size on the bars, eventually, everything is wither enlarged or turns into ant p**p on my screen.
And on a side note, I'm sure it was the live trade speaking but we're dealing with AO and not MACD
I cleaned off all the extra labels on the EURJPY H1 chart. (When our charts get messy we can't see the important stuff. Look what I didn't see until I had a thorough look.)
We find the most recent bearish SETUP on the H1.
Our H1 E line has arrived!
Now here is something else you have to deal with. Is the H1 in phase with the HTF, H4, Daily, Weekly etc. ?
If we go short on the H1 are we trading into an Alligator on a HTF?
We are trading back towards that long term trend line so be aware of that.
Always try to trade in the direction of the HTF trend.
We want to trade in HTF direction as much as possible.
There is a LTF SETUP hidden inside every fractal (look left for a couple outline in blue.)
Don't take every SETUP - look to that bigger trend picture.
We find the most recent bearish SETUP on the H1.
Our H1 E line has arrived!
Now here is something else you have to deal with. Is the H1 in phase with the HTF, H4, Daily, Weekly etc. ?
If we go short on the H1 are we trading into an Alligator on a HTF?
We are trading back towards that long term trend line so be aware of that.
Always try to trade in the direction of the HTF trend.
We want to trade in HTF direction as much as possible.
There is a LTF SETUP hidden inside every fractal (look left for a couple outline in blue.)
Don't take every SETUP - look to that bigger trend picture.
Is it a good configuration for a SELL? {image}
Here is an M1 (live trade) I just took, that shows what I mean. (So much for going for breakfast.)
Trade SETUP in the direction of the open Alligator.
I am going to let my trade manager run this and I am actually going for breakfast now.
- #99
- May 17, 2017 1:33pm May 17, 2017 1:33pm
- Joined Jan 2015 | Status: Trader | 1,005 Posts
OK,
So time for a chart of mine.
USDJPY, H4
I spotted this SETUP around noon, there are some buy trades on it after it started to go downward as I don't know when a trend reverses and before I spotted the SETUP.
I hope I'll be able to spot it easier as I evolve.
First trade was too early at the E point, second one was after the U, a much cleaner entry.
USDJPY, H1
I was able to drill down into H1 but no further because I was using my phone and was at work so....... trying to minimize the use of it when I'm at work so I have a minute or so to set everything up but all in all, it was a very good trade and setup, in my opinion.
Going further down to lower TF also showed a good SETUP that I was actually able to take earlier than I did but no complaining.
I was also able to add another trade after a small/short counter trend.
So time for a chart of mine.
USDJPY, H4
I spotted this SETUP around noon, there are some buy trades on it after it started to go downward as I don't know when a trend reverses and before I spotted the SETUP.
I hope I'll be able to spot it easier as I evolve.
First trade was too early at the E point, second one was after the U, a much cleaner entry.
USDJPY, H1
I was able to drill down into H1 but no further because I was using my phone and was at work so....... trying to minimize the use of it when I'm at work so I have a minute or so to set everything up but all in all, it was a very good trade and setup, in my opinion.
Going further down to lower TF also showed a good SETUP that I was actually able to take earlier than I did but no complaining.
I was also able to add another trade after a small/short counter trend.