Hi News, i hope this helps.
I used that daily example again , as to give you principle. You dont have to do it just on daily you can use it on lower times frames .
So ref to the pictures, when price returned to that level in september (that price movement started in may) you would have already identified that area as high probability setup for rattrade south. Even thou its been 5months you still have 1day,4hr,1hr and 15min orderzone on your back as you open the trade in september. Its a s**t load confulence.
When you take your 15 min rat trade in september (off the daily high key level) you got whole bunch of orders backing you up. Its not just a short off a key level.
This what i mean having orders on your back or trading away from orders within orders. I hope you see it and makes sense.
NB: You can't see the fibo levels i marked up on the daily candle too well the dark blues not showing up too well on black, they are there and all the orderzone are right on top of the daily opening key level from May. I can redo charts to make the fibo clearer?
Daily chart
4hr chart
1hr chart
15min Chart
BB
newscalper wrote:bettlebox wrote:im not sure what you mean when you say "I take it the breakout had to have occurred today" maybe do a quick picture ?
newscalper wrote:bettlebox wrote:Thats very true, but lean on your skill at managing a trade so you don't take a big loss.
Not sure if you are fimilar with Sam Seidens supply and demand, but he saids always trade with orderzone behind you. Look for lower timeframe orderzones ,to backup the daily keylevels. If you can't clearly identify lowertime frame orderzone then its no trade.
If you still loss a position after all that , just taken it on the chin can't win all the time. I have change my attitude to taking loses its all part of trading and i realised the more i tried to avoid a lost the more money i would lose.
Im sure you heard the term , cut your loses short and let your winners run.
BB
newscalper wrote:dojirock wrote:Great drawing Tony, thanks!
I know that picture VERY well LOL. The problem often is when it doesn't do that, and you start getting rat entries and get whipped all the way down to the bottom.
Yeah I'm very familiar with Seiden. When you talk of low TF orderzone are you talking about a congestion breakout with a pullback entry, if so, I take it the breakout had to have occurred today?
Exactly what I said really, otherwise 'orderzone behind you' doesn't make much sense. What orderzone? In the world of Seiden the orderzone is an area of congestion followed by a breakout, he then looks for price to return the to make an entry. Exactly the same thing as looking for a return to, say, an H4 momo breakout. We're talking small timeframes here, so I asked if you meant a congestion breakout, say on m5 which occurs today. A 5 minute breakout 2 weeks ago which just happens to line up with price today - is that 'behind you'? What/where IS 'behind you'?
I have to say, some of the things being written in this thread are great because a lot of it is piecemeal all over the forum.
There are two forces acting upon us: Suffering pushes us forward from behind and pleasures entice us and pull us forward.