The initial graph is fine, but I don't understand the examples. Maybe just mark one trade on a chart, so we can see what is being done
A quick question. I am already seeing the value in your posts and cannot wait for the rest of it as it is a complement to my own strategy or fine tunes it. Can this strategy or technique be used in lower than 15m esp 5m or 1m and why not? Like earlier member suggested, take one chart and explain the entries (if possible). Thanks again..
Yes you will see this price behaviour on all time frames. If you are not a consistently profitable trader I would not look at a timeframe less than 15m. I hate to be a douche but you wrote 'I am already seeing value in your posts'. The only value you will see from my posts is if you followed the steps I wrote exactly and there physcially has not been enough time for you to have done that. You will only see value once you completed 50+ demo trades and studied 50+ of your own examples in excrutiating detail - that is value to you. Value is not what I or anyone else says on the internet. Secondly you mention that you want to use this to complement your own strategy. If your current strategy is profitable you should not be reading this thread, this thread is for losing traders only. If you are already profitable you should be working to improve your existing profitable strategy. If you current strategy is not profitable and you are losing money with it then you should stop using it immediately. Lastly did you read post 3, the one I marked as the most important one. Under the heading Lack of focus on one market nuance. If you are adding this strategy to your existing strategy you are very much in the 'mix/match/distort' camp. This is a fundamental mistake and personally I dont think it will ever work for you if you dont understand this fully. In short I would use this material alone or something else, don't mix/match/distort.
The examples are marked exactly the same way as the initial chart. If you do not understand the examples you should keep going over them until you do. I cant make it any simpler than that sorry. I have deliberately not put entries onto the charts. Your entries should be close to where you know you are wrong and I have laid out where price should not go if you are right with the trade. It is up to the trader to find their own examples of this price behaviour (I suggest 50+), screenshot them and study. You will then work on your way to define entries and study the nuances of prices after the conditions have been met and triggered. You must study how price moves after the trigger point to its targets (or not to its targets as case may have it). You must make this your specialism, your niche, the code you understand better than everyone else to milk the market. When you are wrong its a small loss and you never revenge trade, you listen to what the market is telling you about the setup (its failing if price goes where it is not supposed to). If price goes where it shouldn't you dont trade that setup any more you leave it and look for the next one. Again <5% can do this and will double/triple down and join the losing traders club.
Thanks again for your reply. Points noted. Any particular reason you say to that FX crosses to be avoided? Due to their high volatility or any other specific reason?
When I say crosses I mean EURGBP AUDNZD and not major pairs. In my experience they behave differently as they don't have unique order flow.
Merry Xmas Surf. Did you miss post 1 where I drew a picture of the future. Lol. This thread is for losers only.