Patterns Observation.

[Yirbu]

The logic for yesterday's decision to trade.

Actually, I put this chart up yesterday but I took it down coz I thought to myself I don't sell signal and don't try to gain audiences lolz (crazy thinking, I know. Like who am I anyway, right? when you're sick, you're not in your right mind I guess)

potential Nov. 10, 2022.png

potential Nov. 10, 2022 after.png

potential Nov. 10, 2022 after 2.png



I exited yesterday coz the price dropped right into that RBR pattern and then suddenly the speed of price moving decreased so I thought it's better to exit now and maybe enter again later after this RBR pattern is broken (which I didn't anyway coz obviously when you're sick it's really dangerous to trade coz nobody in the market gives a damn). There were multiple great entries hours before the price's flight and it's a pity I wasn't in any of them.

If only MT4/5 have the sync function like TV it would really ease drawings across multiple open charts for the same symbol.

Gonna have an early weekend hoping to fully recover by next Monday.

Good to see the bigger picture you had in mind.
I did draw something that looks like your chart but I saw a H&S on the hourly.
Wanted to get in on the left shoulder and had the TPa and TPb. The decision points are new for me; good to see.
Eventually I did not have enough patience/faith to ride it all the way and had to re-enter.

This was my micro thought proces once the day started.
Got out at the low of Asia when I thought it wouldn't follow through. It did and I was lucky to get back on board.

I hope you get well soon and feel better. Wish I could do something

[Yirbu]

Can you tell me your start and end times in gmt you use for your sessions?
Just to be sure I use the same times.

[Don_xyZ]

Can you tell me your start and end times in gmt you use for your sessions?
Just to be sure I use the same times.

No problem. Here's my box settings.

When I use M1, I start at 10:00 and ends at 16:00. But when I use M5, then I use 09:00 ~ 16:00.

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The U.S. session starts at 14:00 for me and ends at 20:00

session time (3 sessions).png (198.36 KiB) Viewed 1807 times

Customizable MarketSessions indicator:

Full 3 session indicator (original indicator)

MarketSessions.mq4

(3.39 KiB) Downloaded 149 times

MarketSessions.ex4

(17.57 KiB) Downloaded 149 times

2 sessions only

MarketSessions 2 session.mq4

(3.16 KiB) Downloaded 138 times

MarketSessions 2 session.ex4

(16 KiB) Downloaded 146 times

1 session only

MarketSessions 1 session.mq4

(2.91 KiB) Downloaded 146 times

MarketSessions 1 session.ex4

(13.4 KiB) Downloaded 142 times

[Goonslinger]

The logic for yesterday's decision to trade.

Actually, I put this chart up yesterday but I took it down coz I thought to myself I don't sell signal and don't try to gain audiences lolz (crazy thinking, I know. Like who am I anyway, right? when you're sick, you're not in your right mind I guess)

potential Nov. 10, 2022.png

potential Nov. 10, 2022 after.png

potential Nov. 10, 2022 after 2.png



I exited yesterday coz the price dropped right into that RBR pattern and then suddenly the speed of price moving decreased so I thought it's better to exit now and maybe enter again later after this RBR pattern is broken (which I didn't anyway coz obviously when you're sick it's really dangerous to trade coz nobody in the market gives a damn). There were multiple great entries hours before the price's flight and it's a pity I wasn't in any of them.

If only MT4/5 have the sync function like TV it would really ease drawings across multiple open charts for the same symbol.

Gonna have an early weekend hoping to fully recover by next Monday.

Post what you feel comfortable with. I don't think people will treat this as a signals area but more of a study/concept place. Beginners like my self probably have to read this stuff 4 or 5 times to grasp the concepts and are not thinking about catching the same move. The Pros would have already been in and out using their own system no doubt.
.

4 or 5 times to think you understand it and then on the 6th read through you realise you don't

It definitely does take some time to sink in and internalise.

--------------------

I hope you feel better soon, Don.

[Don_xyZ]

The logic for yesterday's decision to trade.

Actually, I put this chart up yesterday but I took it down coz I thought to myself I don't sell signal and don't try to gain audiences lolz (crazy thinking, I know. Like who am I anyway, right? when you're sick, you're not in your right mind I guess)

potential Nov. 10, 2022.png

potential Nov. 10, 2022 after.png

potential Nov. 10, 2022 after 2.png



I exited yesterday coz the price dropped right into that RBR pattern and then suddenly the speed of price moving decreased so I thought it's better to exit now and maybe enter again later after this RBR pattern is broken (which I didn't anyway coz obviously when you're sick it's really dangerous to trade coz nobody in the market gives a damn). There were multiple great entries hours before the price's flight and it's a pity I wasn't in any of them.

If only MT4/5 have the sync function like TV it would really ease drawings across multiple open charts for the same symbol.

Gonna have an early weekend hoping to fully recover by next Monday.

Post what you feel comfortable with. I don't think people will treat this as a signals area but more of a study/concept place. Beginners like my self probably have to read this stuff 4 or 5 times to grasp the concepts and are not thinking about catching the same move. The Pros would have already been in and out using their own system no doubt.
.

4 or 5 times to think you understand it and then on the 6th read through you realise you don't

It definitely does take some time to sink in and internalise.

--------------------

I hope you feel better soon, Don.

Thanks!

I put the important stuff on the 1st post of this thread and I put a link in my signature to ease finding it in the hope that many people will find it helpful and can improve their trading.
I said this before but just in case anyone miss it... trading a pattern is a hindsight trading. Why? Because you wait for part of the pattern to form and then you trade the rest of it in the hope that the pattern will materialize accordingly. What do I define as a pattern? Anything that has a design and repeats. So this includes western chart pattern, candlestick pattern, harmonics, supply and demand, support and resistance, elliot wave pattern or any other pattern out there. Now, a pattern have 3 parts. The first leg, the body and the final leg. Check pic below for details.

Pattern is a hindsight trading resized.png (132.89 KiB) Viewed 1737 times

If you have an exam and you are given 66% of the answer, will you even fail the test? This is what pattern trading is. And if you combine several pattern together like S/R with western chart pattern or S/D with western chart pattern (WCP) then the result will be phenomenal. Now... S/D + WCP + candlestick = monstrous R.

[Goonslinger]

Thanks, Don. As always there's a lot to digest.

Once I've internalised this, I'll only take a trade when I get a feeling of deja vu

"I've seen this before, I know how this will end."

Thinking of deja vu reminded me of this scene from the Matrix - https://www.youtube.com/watch?v=XfEuxRDYiyc

They knew a feeling of deja vu = action must be taken.

[Yirbu]

Can you tell me your start and end times in gmt you use for your sessions?
Just to be sure I use the same times.

No problem. Here's my box settings.

When I use M1, I start at 10:00 and ends at 16:00. But when I use M5, then I use 09:00 ~ 16:00.

Thx! I could see my sessions were a bit different when comparing them to yours.
Especially when drawing the zones it was a bit in my way.

[Don_xyZ]

D1 tf backbone.
Price is pretty much still bullish though but it hit a RBD pattern. This might signal a return to complete the pattern south. If the price could not show a strong bearish momentum then the price will eventually go up even more. Wait for a couple of days for this bearish momentum.


H1 tf backbone.
Price already completed the pattern formed in previous week. Now we're looking for a new pattern. And then, a channel appeared.


M1 entry tf.
Going into my killzone, the price is really out of sync with the big pattern on H1. So I go with the fractal coming into the pattern. 1st trade got killed. 2nd trade free sailing downward to the target (black horizontal line) for a little less than 26R. Once back in sync, I only waited for a bullish trend because this is the expectation. Got killed 2x with the 1st bullish trade. But then, noticed this small channel (blue equidistant channel). Entered another bullish trade but also got killed. And then noticed a change of pace on the channel. Waited for the price to come back to avoid getting killed again and then BAAAM!!! Rode this thing up to the highest black horizontal line (TP from H1). Why decided to exit there? Coz it was a bloody session and the price is still deciding on the direction of the trend on the D1. Not a safe spot to turn it into a Regular Anchor trade. The bullish trade ended up with a little more than 40R. The total is more than enough for the day.


All in all, a good session!

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They say Monday sucks? No, they suck!

[Don_xyZ]

No trade on 17th.

Yesterday's trade.
Entering the kill zone, it's already too late to go with short.
After reaching that Magenta horizontal line I waited for the reaction and jumped in for the whole ride up. It was a smooth sail up north to the other Magenta h line (full extent of the box). And then wait for the reaction and jumped in again for another smooth ride, down. TP is the box' end. Why there? Easy, it's in line with the expectation from the bigger tf much more compared to the 1st trade.

2 smooth trades, 21R plus 38R. No loss this time.

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[Don_xyZ]

For scalpers and R conscious traders, trading costs matter.

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Problem is, you'll never get everything in one place. Some place is just better for some things. Left is EU 0.3 pips spread no comm, right is 0 pips spread with comm. The choice is obvious. When it comes to cfd though, right is the choice, no comm.