RBBM - Road to Success

Nothing magic but most of time it works for me...

Thank you kindly

Most of main pairs reached their ADR and will be in range now I guess, will continue Bounce tomorrow..

Hello the eurgbp signal that happens bearing fruit, range Monday, Tuesday stretch, Wednesday more stretch and contraction. I always have a question: what would be the tp range on Monday?

News are Random - Maybe not?

If you havent noticed yet... on Wednesday we often have major news which will move the Market by alot.

.... think about the direction we want to trade on wednesdays and which direction the Market moves on/after the news...

Do you see it?

there is more to come..

hey Anxo!

We will get to a simple risk management plan soon...

This Week topics

Variations - Plan B
Risk Management

Yes. The pairs I had on my watchlist for the RBBM pattern all moved in the direction of the bounce on Wednesday!
Just my question will be, how do we refine the entry point? Do you use break of trendline and retest?

All three pairs won. so far banked 658 pips this week
Watching following
E/U
U/J
A/U
E/A
CH/J
E/J
A/CA

Thursday Model Bounce continuation

GBPCAD entered sell at Support turned to Resistance

Entered Gold as continue movement from Wednesday (after Stretch)

GBPUSD

Cycle Example

Here is GBP/USD I have taken a Wednesday bounce sell and a continuation/setup stretch on Thursday...

It got be right about 4% of Profits.... if I took tuesday setup as well I would be at around 6% now..

This is trading a single Pair, but focusing on the perfect Cycle I have taught on page 1.

Attached Image (click to enlarge)

Attached Image (click to enlarge)

That's amazing, UST!
May I know any signal you look for entries? So that you can enter at the best price?

As for Tuesday, will you take any breakout trade from consolidation?

In case price failed to bounce, will you trade the continued stretches?

Thanks!

Trendlines gives the signals.

However UST - how would you trade the thursday? I think I would not trade it. If there are not a clear trend South at NY, then it is forbidden land. Right? Or can we trade it when Asien trend is broken South??

By the way you also have a Double Top, which is a very strong confirmation of the wednesday South adventure has started.

When to enter a Trade - Timing Timing Timing

Certainly, here's a revision of your initial text with minimal changes:
No matter what way you're trading, the time of day will always be a very important factor in your trading. And if it wasn't important before, it definitely should be now.
For FX, I have two different Entry Time Zones (ETZ). The London (LETZ) period is from 8 am to 11 am, and the New York (NETZ) period is from 2 pm to 4 pm UTC+2 Time.
This is when the market moves the most in general, and as traders, we want and need the volatility it provides when entering a trade. During the London and NY open, a lot of money flows into the market, giving us a lot better opportunities than at any other time.


When analyzing a chart during the ETZ's, I use a checklist:

1. How far have we moved away from the Asian Range?
2. Have we hit Previous Daily/Weekly highs/lows?
3. Are we at Support/Resistance from HTF?
4. How far have we moved looking at ADR (we get back to this, once I finished coding a script)

Now, I'll elaborate more on Point 1:
If we haven't moved far from the Asian Range, but a Setup is present (details below Point 1), then I opt for a tighter SL.
If we have moved far from the Asian Range and a Setup occurs (details below Point 1), then I choose a wider SL.
Here's why:

1. If a setup forms near the Asian Range, the market is less likely to make deep stretches or bounces. It often follows a zigzag pattern before deciding its direction.
2. If a setup occurs far from the Asian Range, we're likely to see a large move (Wednesday bounce/Thursday continuation). However, timing entry on these is trickier due to market fluctuations. This approach helps avoid early entries, which can be detrimental. Thus, I choose a wider SL. Additionally, since we expect a larger move, it's beneficial and allows for potential position additions.

What's my Target (TP)?
My default TP is 2R of my initial Entry/TP, meaning if I risk 1%, I aim for 2%. If there's a closer target that makes more sense, I opt for 1.5% instead. It's simple math that works in our favor.
This strategy aligns with the principle of "cut losers short, let winners run." You don't need to exit a trade early if it goes negative; instead, focus on maintaining a positive Risk-Reward Ratio.

You can use anything else of course as confirmation.. whether its a Trendline or something else.

I personally like to get an Entry as early as possible, because that gives me the chance to have a wider SL in exchange.
This is again where the Rubberband logic comes into play... If you are able to enter early into the bounce (as an example) then you can have a wider SL, as you got a good price to enter on. So now with a wider SL, you give the Market the chance to move further into the "wrong" direction, which makes the Band stretch more.. till it bounces.. if it already stretched far... how much further can it go? Likely not too far.. but this way you give the Market a bit of a playground. Worse case.. you have your SL in place.

- Thursday continuation

I usually look for a pullback above/below the Asian Range

so as an example..

GU bounced on Wednesday to the downside.. so I am looking for a short Trade on thursday.. what I wait for then is a push above the Asian Range.

See what happens depending how far we go outside the Asian Range..
See what happens when we enter ETZ's...

Yes exactly same question I understand entry point for Wednesday but not the other 2 for Thursday.

watch post above

I entered on GBPCAD on Thursday (#Post 210) due to: 1. Having a clear direction from the Wednesday Bounce. 2. Having a clear Support turning into Resistance.

Also, I know you are asking about GBPUSD, but I thought I would share. Usually what I notice is, for a currency, like GBP here, there will be one pair that shows a "super clear, very textbook" pattern for that week, and the others are not so clear. Try to find the one that is clearest to you and focus on that... a reminder for me too