The idea's we trade by, so we never lose again. p2. The students become the masters

[PhilipLangford]

Trying out Dragon Style.
I'm hooked. There's no turning back. The fib tool is an H4 candle off a number 3 sema.

Turns out I chose a good exit because that long M15 bar just got zeroed hard.

[Mr. Hyde]

Whoa. I got PTG, Jal and Lem posting in here. Lots of potential for learning. So for those that commented yea, everything is better for the person I was taking care of. But it did take a lot out of me and and didn't trade almost all week when I posted that and did just a little. I feel a little foolish cuz a lot of what I posted didn't really work out that following week. Go figure. But it seemed to work ok this week. Plus the loses made me read, learn and adopt a little. So it all good.

I did some damage to my right eye so this past week I only traded 1hr charts or higher and only spent 5-10 mins studying them at a time. I think it was a good thing for me. I also checked the 15m charts at the end of the day. I'll read everyones post this weekend and throw up some charts. I'm also training a friend of mine how to trade, so things are hetic and really trying to do my best and have him succeed beyond his wildest dreams.

[Mr. Hyde]

Still bearish on EU. Warning lines kept price within the ML. Possible triangle setup then looked where the possible measured move would put the exit at and looked for some confluence. The red price tag is possible entry you could look for using the daily chart and the 3 bar reversal pattern.

eurusd-d1-fx-choice-limited.png (44.48 KiB) Viewed 3453 times

[Mr. Hyde]

Picture says it all.

What is a downtrend. 2 lower lowers and 2 lower highers. Then you have a 1hr momo bar that no other 1hr momo bar can close above its 50% area. So we.....Sell. Then we look to exit at a BO were traders moved their SL to breakeven. Rinse and repeat.

Here's that downtrend between the two trendlines.
According to price action, GU was heading south as brilliantly analyzed by Mr.Hyde.
Then suddenly there was news about progress in Brexit negotiations which nullified the analysis and gave strong upward momentum.
We can now see traders getting zlined left and right.
This is not to take away from the methods of Mr.Hyde, which are massively valuable, just to highlight the fact that news events
can and do shove the markets around. Why not just wait around for news, see what the market does, then trade with that generated momentum?
There ought to be several high probability trades a week doing this.


Edit: quote

That's an idea. Also you can see how price closed under then over said support and LL. Then price retested it and moved up and then broke resistance and then came back and tested it. Sometimes it works sometimes it doesn't.

[Mr. Hyde]

Picture says it all.

What is a downtrend. 2 lower lowers and 2 lower highers. Then you have a 1hr momo bar that no other 1hr momo bar can close above its 50% area. So we.....Sell. Then we look to exit at a BO were traders moved their SL to breakeven. Rinse and repeat.

download/file.php?id=23448

I have no right to post anymore as I do not follow any of these threads...

BUT I feel like this is something that may be worthwhile to some...?



Price enters the cone... Price exits the cone... follow Price...

You always have the right to post.

Also the idea of "Price enters the cone... Price exits the cone" was something I was trying to get MO to expand on. So thank you.

[PTG]

Watch the 50% areas on longer timeframes, then zoom in when price gets there. Couple of examples:

2018-03-31_1036.png (137.24 KiB) Viewed 3426 times

Zoom in when the time is there:

2018-03-31_1047.png (89.43 KiB) Viewed 3426 times

920x1240_0.jpg (58.76 KiB) Viewed 3426 times

[PTG]

Still bearish on EU. Warning lines kept price within the ML. Possible triangle setup then looked where the possible measured move would put the exit at and looked for some confluence. The red price tag is possible entry you could look for using the daily chart and the 3 bar reversal pattern.

eurusd-d1-fx-choice-limited.png

Stuck in the middle of a range, but it is contracting (and that shows nicely in your picture).
I have no bias, merely scenarios

2018-03-31_1114.png (106.41 KiB) Viewed 3422 times

[Mr. Hyde]

Still bearish on EU. Warning lines kept price within the ML. Possible triangle setup then looked where the possible measured move would put the exit at and looked for some confluence. The red price tag is possible entry you could look for using the daily chart and the 3 bar reversal pattern.

eurusd-d1-fx-choice-limited.png

Stuck in the middle of a range, but it is contracting (and that shows nicely in your picture).
I have no bias, merely scenarios

2018-03-31_1114.png

PTG and my post show a perfect example of a veteran trader and a newbie. Even though I new EU was in a range and had drawn a box around it, I choose to ignore it. I also knew that price was showing no bias as to which way it would go (as PTG pointed out), but yet I still was looking for bearish reason to go short. Why is that some may ask? Probably because price "had" formed such nice bearish setup's that I look for and love. The key word is had and price has not followed through as it should have normally on the trades that worked for me in the past. So a good trader should have wiped his mental slate clean and started from a point of openness.

So lets do that now. Price is in a triangle and for that reason it could go up or down. Now I have a ML drawn with price having hit the warning line and respecting it. Also it formed a 3 bar reversal pattern that I like and if price makes it to the red price tag I will enter a small position. If price then reverses from that area and begins to move down I will look at adding at the break of the triangle and other possible spots that could present themselves as price continues to print bars. But if it blows through that area the sl for that position will be the previous high which also would be the break of the upper triangle line. If that happens then I will look for reasons to buy if there are any.

Thank you PTG for your post. Not only was it a wake up call for me, it shows other members the proper way to look at price.

[Mr. Hyde]

Trying out Dragon Style.
I'm hooked. There's no turning back. The fib tool is an H4 candle off a number 3 sema.

Turns out I chose a good exit because that long M15 bar just got zeroed hard.

Haha you sounded just like me. I got hooked on Dragon's style and never looked back. There is a lot of info in this pic (or at least to me there is). But it shows 1)dragons style 2) S/R and how you can use it with his style and 3) end of trend momo (close over/close under) and then how that gave you advance warning of possible trend change which then you got more confirmation with the trendline break and the 123 setup.

The best advice I can say is draw, draw, draw on your charts. Also pick apart PTG's post and charts.

[PTG]

Still bearish on EU. Warning lines kept price within the ML. Possible triangle setup then looked where the possible measured move would put the exit at and looked for some confluence. The red price tag is possible entry you could look for using the daily chart and the 3 bar reversal pattern.

eurusd-d1-fx-choice-limited.png

Stuck in the middle of a range, but it is contracting (and that shows nicely in your picture).
I have no bias, merely scenarios

2018-03-31_1114.png

PTG and my post show a perfect example of a veteran trader and a newbie. Even though I new EU was in a range and had drawn a box around it, I choose to ignore it. I also knew that price was showing no bias as to which way it would go (as PTG pointed out), but yet I still was looking for bearish reason to go short. Why is that some may ask? Probably because price "had" formed such nice bearish setup's that I look for and love. The key word is had and price has not followed through as it should have normally on the trades that worked for me in the past. So a good trader should have wiped his mental slate clean and started from a point of openness.

So lets do that now. Price is in a triangle and for that reason it could go up or down. Now I have a ML drawn with price having hit the warning line and respecting it. Also it formed a 3 bar reversal pattern that I like and if price makes it to the red price tag I will enter a small position. If price then reverses from that area and begins to move down I will look at adding at the break of the triangle and other possible spots that could present themselves as price continues to print bars. But if it blows through that area the sl for that position will be the previous high which also would be the break of the upper triangle line. If that happens then I will look for reasons to buy if there are any.

Thank you PTG for your post. Not only was it a wake up call for me, it shows other members the proper way to look at price.

Thank YOU Mr. Hyde.
Our unconscious minds would like to know what is going to happen next, so we tend to construct a false sense of security by fooling ourselves. The truth is that we cannot predict the future. Instead, construct if-then scenarios to cover both directions. That, plus a flawless execution, is all the security we need.
The text in RED is a plan with if-then scenarios. You have planned your trade so you can trade your plan. Now all that can be done, is to execute the plan and accept the outcome. Job done, as they say

One more thing: we never stop to learn. That is to say, I know I don't