Patterns Observation.

[Don_xyZ]

Gann Grid anyone?

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Jul. 06 19.39.jpg

Made another kill today. But, let's see the recipe for this delicious pip-based meal coz Kreslikers don't like finished products as they prefer to know how to do it. I got you

This is exactly what I was looking at prior to taking the trades. All of the charts before is the "coordinate" and below is the exact road map. This stuff has been rehashed in many different iterations by traders but the point is the still the same... when price is slowing down and the road is bumpy... it's a warning sign. Not necessarily that the price will make a U-turn but yeah, you get what I mean. Be on your toes!

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The gann grid showed the points where price will make a U-turn, or should I say, "potentially" make a U-turn. All that's left is to check where and what the price is doing. The reason why I could only take 2 trades at the beginning is because they limit my leverage due to high-impact news. And as soon as the limitation is lifted, I go "BANG, BANG!" with heavy rounds. It is common knowledge that brokers will limit your exposure i.e. leverage when things of this nature is around the corner or at the impact. When they feel that there is no immediate threat, they will let traders go at it by either losing all their balance or make astronomical wins such as these...

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As the previous chart showed, price moved up even more but hey, gotta be careful with the greed devil

Obviously, this stuff is not for everyone but I thought it would be great to add variety to my thread

G'night fellas!

edit: forgot to mention that those trades obviously have no SL. Added to the 1st post.

[kiwiarian]

Gann Grid anyone?

Jul. 06 19.37.jpg
Jul. 06 19.39.jpg

Yeah interesting, how high and how wide and where does it start lol lots of choices there

[IgazI]

Basic ctrader is much better but why it didn't take off like mt4?

So what's cookin'?

Gonna be awesome again!

I didn't see any US brokers offering ctrader; that might have something to do with it.

The closest thing we have to that is Optimus Flow

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[Don_xyZ]

Basic ctrader is much better but why it didn't take off like mt4?

So what's cookin'?

Gonna be awesome again!

I didn't see any US brokers offering ctrader; that might have something to do with it.

The closest thing we have to that is Optimus Flow

la_Don.jpg

OH !!!!!

How did you know?

I was looking at XAU and the thought to use a variation of your sweetspots idea came to mind. Gotta devise the attack plan first.

[Don_xyZ]

Gann Grid anyone?

Jul. 06 19.37.jpg
Jul. 06 19.39.jpg

Yeah interesting, how high and how wide and where does it start lol lots of choices there

It's about proximity, not exact touches.

Also it's because I was too lazy to draw multiple TL or equidistant channel because there were other angles that I wanted to point out. It's a TL fence

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[IgazI]

OH !!!!!

How did you know?

I was looking at XAU and the thought to use a variation of your sweetspots idea came to mind. Gotta devise the attack plan first.

The placement of the lines doesn't matter to me. . .

Each line is 4% of the chart:

Let's say that each line equals $134 and your max size is 6 units ($804 per line).

You know that, when you enter with 1 unit, you have 6 lines before you're down $804:
- if you enter 2nd unit, when you're down 2 lines, then you have two more lines.
- " " when you're down 3 lines, then you have 1.5 lines.
- " " when you're down 4 lines, then you have 1 line.

If you enter 1 unit and add 1 unit, when you are up 2 lines, then you have (6 + 2) / 2 lines.

So the questions the lines answer is:
- when price covers 4% of a particular chart, how much money is that?
- how much money have I allocated to trade this chart and how many lines do I have?
- can I afford every entry strategy or do I have to go in with something in particular?
- do I have "too many lines" (OPM)? should I move to 2 + 2 or 3 + 3 units?
- can I afford to trade something larger, like an hourly chart (see question one)?

You might use the lines to find areas of interest within 10% of the chart space, or have parts of your plan that are triggered when price moves through a certain number of lines.

You can find trades using only one chart, but if you want to maximize gains then I think that you should have both a smaller and larger chart to give you a well-rounded view of the market.

If I didn't have access to this chart type, then I'd just use dots and a 5 period MA of the open price. . .
part of me actually prefers the dots I can use just about any chart type, it doesn't really matter to me.

byThreeTheyCome.jpg (161.77 KiB) Viewed 3189 times

[Yirbu]

OH !!!!!

How did you know?

I was looking at XAU and the thought to use a variation of your sweetspots idea came to mind. Gotta devise the attack plan first.

The placement of the lines doesn't matter to me. . .

Each line is 4% of the chart:

Let's say that each line equals $134 and your max size is 6 units ($804 per line).

You know that, when you enter with 1 unit, you have 6 lines before you're down $804:
- if you enter 2nd unit, when you're down 2 lines, then you have two more lines.
- " " when you're down 3 lines, then you have 1.5 lines.
- " " when you're down 4 lines, then you have 1 line.

If I didn't have access to this chart type, then I'd just use dots and a 5 period MA of the open price. . .
part of me actually prefers the dots I can use just about any chart type, it doesn't really matter to me.
byThreeTheyCome.jpg

I need to think real hard about this...
Something to ponder on during the weekend

[Don_xyZ]

OH !!!!!

How did you know?

I was looking at XAU and the thought to use a variation of your sweetspots idea came to mind. Gotta devise the attack plan first.

The placement of the lines doesn't matter to me. . .

Each line is 4% of the chart:

Let's say that each line equals $134 and your max size is 6 units ($804 per line).

You know that, when you enter with 1 unit, you have 6 lines before you're down $804:
- if you enter 2nd unit, when you're down 2 lines, then you have two more lines.
- " " when you're down 3 lines, then you have 1.5 lines.
- " " when you're down 4 lines, then you have 1 line.

If you enter 1 unit and add 1 unit, when you are up 2 lines, then you have (6 + 2) / 2 lines.

So the questions the lines answer is:
- when price covers 4% of a particular chart, how much money is that?
- how much money have I allocated to trade this chart and how many lines do I have?
- can I afford every entry strategy or do I have to go in with something in particular?
- do I have "too many lines" (OPM)? should I move to 2 + 2 or 3 + 3 units?
- can I afford to trade something larger, like an hourly chart (see question one)?

You might use the lines to find areas of interest within 10% of the chart space, or have parts of your plan that are triggered when price moves through a certain number of lines.

You can find trades using only one chart, but if you want to maximize gains then I think that you should have both a smaller and larger chart to give you a well-rounded view of the market.

If I didn't have access to this chart type, then I'd just use dots and a 5 period MA of the open price. . .
part of me actually prefers the dots I can use just about any chart type, it doesn't really matter to me.
byThreeTheyCome.jpg

Solid concept, as always.
Thanks!

[Don_xyZ]

OH !!!!!

How did you know?

I was looking at XAU and the thought to use a variation of your sweetspots idea came to mind. Gotta devise the attack plan first.

The placement of the lines doesn't matter to me. . .

Each line is 4% of the chart:

Let's say that each line equals $134 and your max size is 6 units ($804 per line).

You know that, when you enter with 1 unit, you have 6 lines before you're down $804:
- if you enter 2nd unit, when you're down 2 lines, then you have two more lines.
- " " when you're down 3 lines, then you have 1.5 lines.
- " " when you're down 4 lines, then you have 1 line.

If you enter 1 unit and add 1 unit, when you are up 2 lines, then you have (6 + 2) / 2 lines.

So the questions the lines answer is:
- when price covers 4% of a particular chart, how much money is that?
- how much money have I allocated to trade this chart and how many lines do I have?
- can I afford every entry strategy or do I have to go in with something in particular?
- do I have "too many lines" (OPM)? should I move to 2 + 2 or 3 + 3 units?
- can I afford to trade something larger, like an hourly chart (see question one)?

You might use the lines to find areas of interest within 10% of the chart space, or have parts of your plan that are triggered when price moves through a certain number of lines.

You can find trades using only one chart, but if you want to maximize gains then I think that you should have both a smaller and larger chart to give you a well-rounded view of the market.

If I didn't have access to this chart type, then I'd just use dots and a 5 period MA of the open price. . .
part of me actually prefers the dots I can use just about any chart type, it doesn't really matter to me.
byThreeTheyCome.jpg

I think in trading, the "IN" is what people must be aware of. It killed so many accounts across generations of traders. But strangely, those who patiently wait for the "IN" are usually the ones who make a big bang from the market.

[Don_xyZ]

The science of INs

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Like I always say, trading with pattern is hindsight trading. You only have 3 parts of it, the starting leg, the body and the finishing leg. The job is to wait for the body to finish forming and then attack the finishing leg. Or if you're advanced, attack when the body is 33% or 50% complete and then attack again in the finishing leg phase. If you feel big patterns needs a long time to wait then you can go with candlestick pattern. Much faster, but riskier.