Patterns Observation.

[Yirbu]

As for your chart...

D1 is indeed down but it's not the prime location to make a big bang short because it's not yet at the upper trend line area. However, there is still more than enough to make a big money.

EURJPYDaily.png

H1 is also down. There is an area I marked with the dark blue box. However, the target is a bit shaky because there is a strong zone on the left marked by the horizontal line. The price actually touched that and then reverse. This is a situation where you get a lot of pips at hand and could potentially lose all if you think the price will go further. I would hold the trade but then after I see the sharp pull back up I would close the trade settling with less than the full 75 pips. This kind of market gimmick should be in your WIL too.

EURJPYH1.png

M5 trade must be put at the start or during the forming of that red candle marked with the up arrow. The SL must be at the top of the previous candle. That said, I would have entered another trade after that big bad bearish candle that touched the box for the last time and this 2nd trade would give much more than the 1st trade. And hen I would take the trade up again because at that point, there is a potential for a megaphone pattern to form. The TP would be the obvious blue box and voila, it hit.

EURJPYM5.png

This weekend I was still trying to find out what happened and why I failed so miserably on this trade because it could have been a perfect one.
btw; I traded this setup with the H1 double top driving price down, making a lower low and entering exactly where you pointed it out. At the top of a rectangle where it's upper extreme is the swinglevel. My TP price was exactly where it should be but still I didn't catch the bird.

I'll close the case because I think I was just too greedy. That's new because I don't see myself as a greedy person.

[Don_xyZ]

As for your chart...

D1 is indeed down but it's not the prime location to make a big bang short because it's not yet at the upper trend line area. However, there is still more than enough to make a big money.

EURJPYDaily.png

H1 is also down. There is an area I marked with the dark blue box. However, the target is a bit shaky because there is a strong zone on the left marked by the horizontal line. The price actually touched that and then reverse. This is a situation where you get a lot of pips at hand and could potentially lose all if you think the price will go further. I would hold the trade but then after I see the sharp pull back up I would close the trade settling with less than the full 75 pips. This kind of market gimmick should be in your WIL too.

EURJPYH1.png

M5 trade must be put at the start or during the forming of that red candle marked with the up arrow. The SL must be at the top of the previous candle. That said, I would have entered another trade after that big bad bearish candle that touched the box for the last time and this 2nd trade would give much more than the 1st trade. And hen I would take the trade up again because at that point, there is a potential for a megaphone pattern to form. The TP would be the obvious blue box and voila, it hit.

EURJPYM5.png

This weekend I was still trying to find out what happened and why I failed so miserably on this trade because it could have been a perfect one.
btw; I traded this setup with the H1 double top driving price down, making a lower low and entering exactly where you pointed it out. At the top of a rectangle where it's upper extreme is the swinglevel. My TP price was exactly where it should be but still I didn't catch the bird.

I'll close the case because I think I was just too greedy. That's new because I don't see myself as a greedy person.

The market is always right so don’t blame yourself.

You’re already way better than the mass majority out there. You saw what I also saw and entered in close proximity and this is already half the equation. You must pat yourself in the back for this. What happened was, maybe you weren’t aware of what happened to the left or rather you might not have enough experience to tell how critical that area was and I think that is why you thought the price might fall further so don’t sweat it.

There is a lot of trader who are still struggling to make profit even in this forum. It took me years to collect and understand the stuff I posted in this thread but it only takes a couple of days for people to finish reading it. However, the years I spent is what built me and this experience is what you must build. Walking on the same path everyday can be frustrating but when you think that you will get your paycheck at the end of the month you will smile unconsciously. Just think about the end result and all the negative vibe will be gone coz you need all the positivity you can gather to push through in this harsh jungle.

[Don_xyZ]

A very nice, friendly, textbook "hindsight" trading.
Chart...

This is a no-brainer entry. Up to the black horizontal (edit: I meant vertical) line is where the hindsight trading method is giving us a clear "outcome". If you are cautious, you will exit at the first dark blue box. The box below it is the original target. Trade off the M5 tf. You either get 15R + or more than 30R.

EURUSDH1 wipe it clean.png (70.66 KiB) Viewed 1540 times

With 3% risk per R you'll get anywhere from 45% to almost 100% profit in just 1 trade.
If you go with a funded account with 0.25% you'll get 3.75% with a very easy trade.
This is trade is a free gift from the market for those who diligently observe the market trails (patterns).
Can you find where the entry is on M5 tf? If you have read this entire thread then you should be able to or at least have a general idea on how to pick entries like this.

Wiping out the entire London and NY sessions in one go.

[Yirbu]

A very nice, friendly, textbook "hindsight" trading.
Chart...

This is a no-brainer entry. Up to the black horizontal (edit: I meant vertical) line is where the hindsight trading method is giving us a clear "outcome". If you are cautious, you will exit at the first dark blue box. The box below it is the original target. Trade off the M5 tf. You either get 15R + or more than 30R.

EURUSDH1 wipe it clean.png

With 3% risk per R you'll get anywhere from 45% to almost 100% profit in just 1 trade.
If you go with a funded account with 0.25% you'll get 3.75% with a very easy trade.
This is trade is a free gift from the market for those who diligently observe the market trails (patterns).
Can you find where the entry is on M5 tf? If you have read this entire thread then you should be able to or at least have a general idea on how to pick entries like this.

Wiping out the entire London and NY sessions in one go.

Very very nice trade.
I didn't see this one yesterday.
The entry is right at the rejection of the baseline of a triangle not so?

Risking 3% would be a bit overenthusiastic for me as I need to get more confidence but it makes sense...even if the entry is not working twice you would make that up and more....

[Yirbu]

Yesterday I also had a bad trading day.
I lost nearly 2.5%.
Today I took a trade "inspired" by Don.
Wiped away all my losses from yesterday

It al started at the top SD zone from Asia.
When London trades into it there are a couple of things that can happen. One of them is reverse from that zone, this is what happened today.
Price went down and bounced on the red line (previous H1 support) and came back up. I took 28pips.
Now the m5 was making a swing and I went down again with price.
Took a cup of coffee but price rallied back up so I closed it at BE.
When price filled that tiny FVG I went short again (at nearly the same price as before) and took another 21 pips.
Price went right to a previous support of the H1 (which was the target) at x20 but I wasn't fearless enough to keep it past X15.

I was thinking about a setup like this all weekend so I am really happy it worked out.

220816 - EURUSD.png (126.25 KiB) Viewed 1497 times

[aliassmith]

A very nice, friendly, textbook "hindsight" trading.
Chart...

This is a no-brainer entry. Up to the black horizontal (edit: I meant vertical) line is where the hindsight trading method is giving us a clear "outcome". If you are cautious, you will exit at the first dark blue box. The box below it is the original target. Trade off the M5 tf. You either get 15R + or more than 30R.

EURUSDH1 wipe it clean.png

With 3% risk per R you'll get anywhere from 45% to almost 100% profit in just 1 trade.
If you go with a funded account with 0.25% you'll get 3.75% with a very easy trade.
This is trade is a free gift from the market for those who diligently observe the market trails (patterns).
Can you find where the entry is on M5 tf? If you have read this entire thread then you should be able to or at least have a general idea on how to pick entries like this.

Wiping out the entire London and NY sessions in one go.

There are situations you can risk more as you suggest on a funded account. A 2 pip SL is 1.6% risk and a 3 pip SL is 2.4%. You can do these after a few percent are gained that day.

If you hit a 10R using .5% risk early then bumping the risk up to 1% could make some nice gains. There are various ways to do it. The key is it has to be done in one day because it starts over each 24 hour period.

[Yirbu]

There are situations you can risk more as you suggest on a funded account. A 2 pip SL is 1.6% risk and a 3 pip SL is 2.4%. You can do these after a few percent are gained that day.

If you hit a 10R using .5% risk early then bumping the risk up to 1% could make some nice gains. There are various ways to do it. The key is it has to be done in one day because it starts over each 24 hour period.

Yes.... off course .... I didn't think about that. Good idea
The same goes for your risk gearing not so?

Still...I feel I need to be a bit more stable when trading but I can start trying when the conditions are good.
And indeed with a 10R, no harm in risking sometihng extra

[Don_xyZ]

Yesterday I also had a bad trading day.
I lost nearly 2.5%.
Today I took a trade "inspired" by Don.
Wiped away all my losses from yesterday

It al started at the top SD zone from Asia.
When London trades into it there are a couple of things that can happen. One of them is reverse from that zone, this is what happened today.
Price went down and bounced on the red line (previous H1 support) and came back up. I took 28pips.
Now the m5 was making a swing and I went down again with price.
Took a cup of coffee but price rallied back up so I closed it at BE.
When price filled that tiny FVG I went short again (at nearly the same price as before) and took another 21 pips.
Price went right to a previous support of the H1 (which was the target) at x20 but I wasn't fearless enough to keep it past X15.

I was thinking about a setup like this all weekend so I am really happy it worked out.

220816 - EURUSD.png

Good. I'm happy for you too. I can see that you have progressed well. I hope you'll keep posting in the forum as well coz many went missing as soon as they get what they want from kreslik lolz

A very nice, friendly, textbook "hindsight" trading.
Chart...

This is a no-brainer entry. Up to the black horizontal (edit: I meant vertical) line is where the hindsight trading method is giving us a clear "outcome". If you are cautious, you will exit at the first dark blue box. The box below it is the original target. Trade off the M5 tf. You either get 15R + or more than 30R.

EURUSDH1 wipe it clean.png

With 3% risk per R you'll get anywhere from 45% to almost 100% profit in just 1 trade.
If you go with a funded account with 0.25% you'll get 3.75% with a very easy trade.
This is trade is a free gift from the market for those who diligently observe the market trails (patterns).
Can you find where the entry is on M5 tf? If you have read this entire thread then you should be able to or at least have a general idea on how to pick entries like this.

Wiping out the entire London and NY sessions in one go.

There are situations you can risk more as you suggest on a funded account. A 2 pip SL is 1.6% risk and a 3 pip SL is 2.4%. You can do these after a few percent are gained that day.

If you hit a 10R using .5% risk early then bumping the risk up to 1% could make some nice gains. There are various ways to do it. The key is it has to be done in one day because it starts over each 24 hour period.

Yes, using more risk is in line with the funded account model. However, there are times where the anchor trade hit first before we have a buffer to do the parlay/risk gearing. Also, there are times when we don't get a chance to do parlay at all because the momentum is just too strong up or down.

[Don_xyZ]

@TRO @Michal

Can we get a multi reply button so we can reply several posts with a click of a button?

[aliassmith]

I don't remember where Don_xyZ mentioned "hindsite" trading. This was actually some interesting insight I am exploring.