Patterns Observation.

[Yirbu]

Double top grading.png

The potential danger of DT & DB.png

H&S pattern.png

This also is a very helpful post.
Last week I was trading these double T/B's (and have also graded them like you did) so it was very helpful to see that I am moving in the right direction.
What I like very much was how a failed double T/B can morph into a new pattern so I can take advantage of that instead of standing there with my nose bleeding and not knowing that I am able to counter. (and get my money back)
Next week I will focus on these patterns DT/DB's (batman ears), H&S and see how they fail or become a success and what I can do about it if it fails.

[Yirbu]

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

Oct. 27, 2022.png
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.

That's a nice trade!
I traded it one swing later because I was still thinking longs at the time you took it.
Wasn't able to take so much but managed to take +/- 14R and I was happy with that.

[Don_xyZ]

Yep. Straight down.
43R ++
Done for the day.
Target is the big a$$ candle on the left [htf].

Come out and play.png (58.79 KiB) Viewed 2278 times

target.png (72.82 KiB) Viewed 2278 times

Can the price move downward further? Possibly. But right now I'm not in the mood for waiting. One of the advantages of knowing and mastering multiple trading techniques is you get to choose which one to play with and when

Mini daily anchor trade. Forgot to draw the boxes but at least I drew the TP line so it's practically the same thing.

[Don_xyZ]

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

Oct. 27, 2022.png
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.

That's a nice trade!
I traded it one swing later because I was still thinking longs at the time you took it.
Wasn't able to take so much but managed to take +/- 14R and I was happy with that.

Anything above 0R or even minus R is good.
14 is awesome. The majority of the world can only dream of getting 14R in a month. So keep it up!

[Yirbu]

Today was a "difficult" scalping day for me
It was difficult because I felt I had to put in more effort as needed and I realized from trade 1 that I missed the best opportunity of the day.

My first trade went my way, I took partials when price hesitated and closed it when it went up and hit the daily open line. (blue line)
When price reversed fast I immediately knew closing it was a mistake as this would have been an anchor trade.
However, I didn't have a level marked at that price level so I didn't expect price reversing.
When it did I was too busy figuring out if this was a flat or not, reviewed my drawings and I just missed the boat.

When price was done cratering I did 7 other trades, most went into a loss and soon I was red for the day.
(I didn't mark them because the chart becomes a real mess with all these lines)
When the US session started I took a couple of new trades bringing me in positive territory again.
Just a tiny bit green but hey, green is green.
With these trades I was aiming for the demand zone at the base of that humongous candle.

Luckily I came out fairly ok today but I did have an issue with my money management as I decided to have a fixed lot size today.
Off course my losing trades were all trades with bigger SL's so I went into the red quite fast. When trading the US session I diminished my lot size so I had to make more pips to make up for my loss in the London session.

Because the US session cooperated today's story has a happy ending.

221031 - EURUSDM1.png (224.19 KiB) Viewed 2245 times

[aliassmith]

Today was a "difficult" scalping day for me
It was difficult because I felt I had to put in more effort as needed and I realized from trade 1 that I missed the best opportunity of the day.

My first trade went my way, I took partials when price hesitated and closed it when it went up and hit the daily open line. (blue line)
When price reversed fast I immediately knew closing it was a mistake as this would have been an anchor trade.
However, I didn't have a level marked at that price level so I didn't expect price reversing.
When it did I was too busy figuring out if this was a flat or not, reviewed my drawings and I just missed the boat.

When price was done cratering I did 7 other trades, most went into a loss and soon I was red for the day.
(I didn't mark them because the chart becomes a real mess with all these lines)
When the US session started I took a couple of new trades bringing me in positive territory again.
Just a tiny bit green but hey, green is green.
With these trades I was aiming for the demand zone at the base of that humongous candle.

Luckily I came out fairly ok today but I did have an issue with my money management as I decided to have a fixed lot size today.
Off course my losing trades were all trades with bigger SL's so I went into the red quite fast. When trading the US session I diminished my lot size so I had to make more pips to make up for my loss in the London session.

Because the US session cooperated today's story has a happy ending.

221031 - EURUSDM1.png

How can you be that bad off?
You are hitting 2R to 10R trades!

[Yirbu]

How can you be that bad off?
You are hitting 2R to 10R trades!

I'm not.
Did make a loss in the London session and made it up and then some in the US session.
I did have to make up twice as much during US as I cut my lot size in half.
When re-reading my post I see that the sentence with "tiny bit" shouldn't have been at that place. Sorry for that must have happened with all the editing.
I ended up at around +8R

So....happy ending

[Goonslinger]

Today was a "difficult" scalping day for me
It was difficult because I felt I had to put in more effort as needed and I realized from trade 1 that I missed the best opportunity of the day.

My first trade went my way, I took partials when price hesitated and closed it when it went up and hit the daily open line. (blue line)
When price reversed fast I immediately knew closing it was a mistake as this would have been an anchor trade.
However, I didn't have a level marked at that price level so I didn't expect price reversing.
When it did I was too busy figuring out if this was a flat or not, reviewed my drawings and I just missed the boat.

When price was done cratering I did 7 other trades, most went into a loss and soon I was red for the day.
(I didn't mark them because the chart becomes a real mess with all these lines)
When the US session started I took a couple of new trades bringing me in positive territory again.
Just a tiny bit green but hey, green is green.
With these trades I was aiming for the demand zone at the base of that humongous candle.

Luckily I came out fairly ok today but I did have an issue with my money management as I decided to have a fixed lot size today.
Off course my losing trades were all trades with bigger SL's so I went into the red quite fast. When trading the US session I diminished my lot size so I had to make more pips to make up for my loss in the London session.

Because the US session cooperated today's story has a happy ending.

221031 - EURUSDM1.png

If you don't mind sharing, what's the entry criteria?

[IgazI]

Yep. Straight down.
43R ++
Done for the day.
Target is the big a$$ candle on the left [htf].
Come out and play.png
target.png
Can the price move downward further? Possibly. But right now I'm not in the mood for waiting. One of the advantages of knowing and mastering multiple trading techniques is you get to choose which one to play with and when

Mini daily anchor trade. Forgot to draw the boxes but at least I drew the TP line so it's practically the same thing.

43R he says. . .
I can beat that. . .
Never.

[Don_xyZ]

So here's the logic behind the 3 mini daily anchor trades.

First off, let's check the bigger tf, the H1.

EURUSDH1 yesterday's markup.png (69.01 KiB) Viewed 2136 times

Still, no finisher yet for this big pattern and I had hoped that there will be a true finisher or some kind of it considering that the price is in full swing up north.

Now let's check the entry tf, M1.

EURUSDH1 yesterday's markup zoomed in.png (104.63 KiB) Viewed 2136 times

Is the daily tf supporting this move? Yes, because the price moved up so much and it started dropping.

WIL stuff to take away:
1. Falling off 2 to 3 candles after such big move is normal, you can stats this yourself all the way back on your chart if you want to be sure. Of course, it's not 100% or 90% but it's reliable enough because we're talking about the daily tf so each candle's move is worth the risk.
2. Most big candles will be tested, sooner or later.
3. Some will stand, others will break.
4. If it stands, check the depth of the retracement.
5. Once the 50% is broken, usually, not always, the candle will break. Especially if the contender can close beyond that 50%.

Most of the stuff I gave in this thread comes directly from my WIL except when mentioned otherwise. So it's solid, but don't trust me because there might be a psychological gap or difference in mental fortitude between us. Test it, stats it, and if you're ok with it, try to accumulate experience doing it. This is how to build confidence.

Hope it helps!