Menu
Sister Sites

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

HYBRID: trading system within a trading system 31 replies

Please suggest a simple & effective Method/System of "Trading System" Forum to newbie 180 replies

WatchMyZone trading system - WMZ system 7 replies

Day Trading system - Simple system to make money 51 replies

Trapping System: Way to Fully-Automated Trading System 47 replies

Attachments: No Indicator Trading System
Exit Attachments

No Indicator Trading System

GU shot from m5 entry
Attached Image (click to enlarge)
Click to Enlarge Name: IMG_20240409_213041.jpg Size: 4.1 MB
No one cares about your efforts, only the results
Quoting Mellifluous
{quote} Thank you ITB, GU or GJ. I think I understand the pics a 1H 123 with a LTF 123 then there are 1H 123s prior to that one for buys. So if I was using that way to identify the trend, how would I know when to stop looking for buys and look for sells? And also - I guess you can combine your timeframes so using 1H with 5m for example or 4H with 15m ect. Many thanks
So if I was using that way to identify the trend, how would I know when to stop looking for buys and look for sells?
why do you want to trade both ways? you only get yourself distracted.
be single minded. focus only on the high probability trade.
only trade one direction.
you trade the direction of higher time frame.

then there are 1H 123s prior to that one for buys.
why look at so many?
when market open, analyze the one that is most relevant and nearest to the current market price.
look at my charts. i have only one line in each time frame.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 16 KB
Click to Enlarge Name: screenshot.png Size: 15 KB
ITB - Seeing Orderliness amongst 'Randomness'
Quoting Inthebox
{quote} So if I was using that way to identify the trend, how would I know when to stop looking for buys and look for sells? why do you want to trade both ways? you only get yourself distracted. be single minded. focus only on the high probability trade. only trade one direction. you trade the direction of higher time frame. then there are 1H 123s prior to that one for buys. why look at so many? when market open, analyze the one that is most relevant and nearest to the current market price. look at my charts. i have only one line in each time frame....
Understood thank you.
You have an arrow there on the m15 after d1, h1 and m15 became support, how do you see the LTF 123 for entry please?
Quoting Mellifluous
{quote} Understood thank you. You have an arrow there on the m15 after d1, h1 and m15 became support, how do you see the LTF 123 for entry please?
m15 candle close above support.
the next candle lower wick tested the support and closed above it.
ITB - Seeing Orderliness amongst 'Randomness'
Quoting Inthebox
{quote} So if I was using that way to identify the trend, how would I know when to stop looking for buys and look for sells? why do you want to trade both ways? you only get yourself distracted. be single minded. focus only on the high probability trade. only trade one direction. you trade the direction of higher time frame. then there are 1H 123s prior to that one for buys. why look at so many? when market open, analyze the one that is most relevant and nearest to the current market price. look at my charts. i have only one line in each time frame....
Wait for the price to reach the H4 support zone
Is it necessary to Adjust the lines
Attached Image (click to enlarge)
Click to Enlarge Name: 222.png Size: 48 KB
Quoting Inthebox
{quote} m15 candle close above support. the next candle lower wick tested the support and closed above it.
What is the correct way to draw lines?
And when going down to ltf, do I need to adjust the line to match the ltf?
Quoting Inthebox
{quote} So if I was using that way to identify the trend, how would I know when to stop looking for buys and look for sells? why do you want to trade both ways? you only get yourself distracted. be single minded. focus only on the high probability trade. only trade one direction. you trade the direction of higher time frame. then there are 1H 123s prior to that one for buys. why look at so many? when market open, analyze the one that is most relevant and nearest to the current market price. look at my charts. i have only one line in each time frame....
Hi ITH,
So for friday, as an example with trying to figure the HTF trend - would you have been looking for sells since thursdays candle closed below resistance?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 15 KB
Click to Enlarge Name: screenshot.png Size: 30 KB
Weds 3rd, looking for buys because tuesday 2nd closed above support?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 16 KB
Click to Enlarge Name: screenshot.png Size: 26 KB
Last one - Tues 2nd looking for sells because monday 1st closed below resistance
Attached Image(s) (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 15 KB
Click to Enlarge Name: screenshot.png Size: 30 KB
Quoting Senku94
{quote} What is the correct way to draw lines? And when going down to ltf, do I need to adjust the line to match the ltf?
There is no correct way to draw lines and use them as support and resistance. Use the most effective approach and use that approach consistently when you develop your own winning trading system.

Start with the basics explained in the links below and develop from there.

https://www.forexfactory.com/thread/...7#post10464957

Inserted Video



...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
{quote} There is no correct way to draw lines and use them as support and resistance. Use the most effective approach and use that approach consistently when you develop your own winning trading system. Start with the basics explained in the links below and develop from there. https://www.forexfactory.com/thread/...7#post10464957 https://youtu.be/bQy71i4MtSQ ...

Many traders consider babypips.com school not useful in helping them develop to become batter price action traders.

After babypips school and I went on this Forex Military School find this much better

Forex Military School

https://www.forexpeacearmy.com/forex...and-resistance


...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting Shah-Baba
{quote} Hello Islandfx911, I need guidance regarding Stop Loss. I mean where one should place the SL when we enter into a trade especially in Gold and Crude. I have some understanding of RRR but it is difficult to practice due to emotional reasons / preferential bias.

hi @Shah-Baba

You can learn a lot from the OP' posts and example.
For example post #1274 M30 chart.
https://www.forexfactory.com/thread/...4#post14789274

If you post some example of your Gold and Crude M30 charts, we can discuss this important topic of Stop Loss placement and hos to use trade Position Sizing. We need to consider the volatility of these non-forex pairs.

Learn more here:
https://www.forexpeacearmy.com/forex...op-loss-orders

...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
AJ Apr10 M30 Support and Resistance Tokyo 11am

- there are no Weekly and Daily SnR where price is now

- more focus on the H4 and H1 SnR levels

- today would be to pick a setup with small SL 10pips maximum

- can be a deep correction today for possible sell trade

- otherwise take only the buy setups


Attached Image (click to enlarge)
Click to Enlarge Name: AJ Apr10 SnR 10-4-2024 10-05-28 am.png Size: 23 KB



...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting Senku94
{quote} Wait for the price to reach the H4 support zone Is it necessary to Adjust the lines {image}
from post 1 see how the OP adjusted the lines.
as for myself, most time i am too lazy to do so. the most i adjust mn w1 d1 down till h4 and just leave it there.
below h4 i also just leave it there.
when trade entry, does not mean px has to be above h4 (as it already serve the purpose of pointing to you the up direction).
focus on your entry time frame, where is the current market price in relation to the line you have drawn.
so you do accordingly to your own experience.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 22 KB
ITB - Seeing Orderliness amongst 'Randomness'
Quoting emmanuel7788
AJ Apr10 M30 Support and Resistance Tokyo 11am - there are no Weekly and Daily SnR where price is now - more focus on the H4 and H1 SnR levels - today would be to pick a setup with small SL 10pips maximum - can be a deep correction today for possible sell trade - otherwise take only the buy setups {image} ...

Learn to read your candles and reconcile them with the next HTF


AJ Apr10 M30 with H1 rejection candles

- M30 forms H1 rejction candles

- but in the 'middle' of nowhere or some sees the rejection at traditional levels

- is the SL possible with 10 pips with this as setup ?

- IF NOT, then wait for price to break above yesterday' Daily Close for a 10pips SL trade



Attached Image (click to enlarge)
Click to Enlarge Name: AJ Apr10 M30 H1 rejection candles 10-4-2024 11-12-12 am.png Size: 27 KB


...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting Mellifluous
{quote} Hi ITH, So for friday, as an example with trying to figure the HTF trend - would you have been looking for sells since thursdays candle closed below resistance? {image} {image}
you know that d1 direction is down.
but are you aware that w1 direction is up?
so you made a judgement call whether you trade counter trend on friday.
if so expect smaller TP for counter trend.
see how px gravitate to w1 support like a magnet?
then shot up after completing mission.
ok no more time left, i have to go catch my flight.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 10 KB
ITB - Seeing Orderliness amongst 'Randomness'
Quoting emmanuel7788
{quote} hi @Shah-Baba You can learn a lot from the OP' posts and example. For example post #1274 M30 chart. https://www.forexfactory.com/thread/...4#post14789274 If you post some example of your Gold and Crude M30 charts, we can discuss this important topic of Stop Loss placement and hos to use trade Position Sizing. We need to consider the volatility of these non-forex pairs. Learn more here: https://www.forexpeacearmy.com/forex...op-loss-orders ...
Thanks for your concern, I wall share charts soon.
GU Apr10 M30 London Open

- watching for the setup with small SL 10pips



...
Attached Image (click to enlarge)
Click to Enlarge Name: GU Apr10 M30 LO 10-4-2024 3-00-11 pm.png Size: 27 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
A single today's GBPUSD +7R trade. Not planning to trade during the NY session as a lot of red news are coming. Not the most beautiful entry on M5, but everything seemed great on higher time frames.

Funny thing that I aimed for one +7R USDCHF trade yesterday and it went back to BE with half a pip left to TP
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 11 KB
Is there an indicator where I can see candle's 50% and 75% range?
1 trader viewing now