Patterns Observation.

[IgazI]

This looks like something Don would take . . . mostly because of the double top:

maybe.jpg (223.98 KiB) Viewed 2811 times

[Don_xyZ]

20R cap for today coz I had to go drive my daughter to her 1st ever filming. Not for the main role but kids are happy to be in it if it's with her friends
Thank goodness it's a straightforward daily anchor trade.

Done for the day Monday.png



@Yirbu

Great! It helps

Nice trade!
Hope you had a good time at the filming.
It's these moments that often make the best memories in life for both of you.

I made some notes on my chart because I know we all love charts. (next time I'll use bigger fonts)
Overall I was quite happy with the first part of the day but then disaster struck.
Because I had some appointments later on the day I couldn't trade more.

Trade #1 was straightforward. The greenish area is what I took from your post on SD candle zones so I added to my position.
Trade #2 was a trade from a SD area. This time I decided to short it at the top so it would be a bit safer. Got out at be when price came back
Trade #3 was a bit problematic but worked out. I think I got married to this trade and wanted it to keep going down for the next 36 months.
Eventually it didn't and I closed it.
Trade #4 was a trade with the motto; if it doesn't go down it must go up.
Trade #5 my position size was X10 what it should be
Trade #6 I forgot about the news and got -3R slippage
Stupid trade because I wouldn't even have time left to manage the trade as I had to go.

That was enough trading for me.
I did a nice Us30 trade somewhere that kept running up but for a first time trading like this I was ok-ish with the result.
It was even more "micro" as I imagined but I liked it.

For trade 1 and 3 I found it difficult to decide when to close them because I was thinking/hoping it would go down a lot more.
That's also why I took partials because usually I don't like to take partials.

Now trade 3 is the same trade as you took. It's just that your trade was from the top part of that m1 candle and mine from the bottom of that candle
But in these areas, you just have faith and hop in?
Also I was amazed to actually see how big the difference is of these starting pips in a trade.

Let's see what today brings



221024 - EURUSDM1.jpg

Those trades are good but why didn't you have any bullish trade before trade #4? There was a good place for a daily anchor trade that turns into a regular anchor trade and also a place to enter a mini anchor trade. Had I stayed in the market longer I would've caught them both.

would be maybe daily anchor trade into regular anchor plus mini anchor trade.png (55.42 KiB) Viewed 2811 times

Left most is the daily anchor and the other is the mini.

would be maybe.png (55.37 KiB) Viewed 2811 times

Target is to the (well defined) moon but there is always options to close early or partials or trail. The perks of trading using a pattern is you don't constantly have to mark your chart because pattern is all-inclusive. You have the target well defined, you have the stops also well-defined. There is always room for something else too based on the previous patterns.

SD defined.png (42.23 KiB) Viewed 2811 times

candle by candle balance and imbalance.png (29.6 KiB) Viewed 2811 times

Left side is the big formation, right side are the 2 or 3 candle-sized formation.

Get this concept down correctly and you'll make a bang, a very big bang!

[IgazI]

Notice also that this area will always be the area of the closing price. . .

na.jpg (22.55 KiB) Viewed 2797 times

[Don_xyZ]

This looks like something Don would take . . . mostly because of the double top:

maybe.jpg

Double Top/Bottom is a very good trend reversal setup. Especially if the first leg ends up as the highest high or lowest low.

[Don_xyZ]

This regular anchor trade would end up with 92R

post156099?sid=80ad0c410224ba5d343f0d68e8f3f941#p156099

92R.png (32.51 KiB) Viewed 2727 times

and this regular anchor trade would end up with 145R (if taken with 1 pip SL).

post156097#p156097

However, the regular anchor trade below was drawn with sub pip SL (0.7 pip) so technically, it's not 145R but instead 207.14R

145R or 207R.png (34.32 KiB) Viewed 2727 times

Congrats to anyone who took any of those trades!

[Yirbu]

Those trades are good but why didn't you have any bullish trade before trade #4? There was a good place for a daily anchor trade that turns into a regular anchor trade and also a place to enter a mini anchor trade. Had I stayed in the market longer I would've caught them both.

Yes it would have been a very nice trade.
I wasn't there at the time.
When I came back price went up. Because I was still short I closed hat trade and when I was ready to trade the moment was over unfortunately

[Yirbu]

SD defined.png

candle by candle balance and imbalance.png
Left side is the big formation, right side are the 2 or 3 candle-sized formation.

Get this concept down correctly and you'll make a bang, a very big bang!

I like this post. A lot.
Thx Don.
I have been experimenting a bit with it this morning and it is a better way to enter instead of using the imbalance and "just hop in"

[IgazI]

This looks like something Don would take . . . mostly because of the double top:

maybe.jpg

Double Top/Bottom is a very good trend reversal setup. Especially if the first leg ends up as the highest high or lowest low.

HH based on closing prices, actual highs, or both?

dbl_T.jpg (159.43 KiB) Viewed 2641 times

[Don_xyZ]

Double top grading.png (38.47 KiB) Viewed 2548 times

The potential danger of DT & DB.png (31.69 KiB) Viewed 2548 times

H&S pattern.png (32.3 KiB) Viewed 2548 times

[Don_xyZ]

And then there are also cases when the mini showed up before the daily anchor.

Oct. 27, 2022.png (61.28 KiB) Viewed 2529 times

Box is mini, target defined. The other is the anchor trade, black horizontal is the TP defined by the situation on the left zoomed out. There is no adequate daily anchor at the ultimate top. Well, actually there is but the risk is too big so it's scrapped. Tight Rectangle pattern like the one from early hour into the box is dangerous if a trader doesn't know what to do to avoid it.

Early weekend looks good. The market moved so much during the week, prolly gonna slow down tomorrow. But maybe not.