The ideas that I trade by:

[Distinction]

Hello,

interesting answer .
Are you saying that this is not an entry method but just a way to see if the trade you are already in from the extremes is still going strong or am i reading to much into it?

Regards
Distinction

[MightyOne]

Hello,

interesting answer .
Are you saying that this is not an entry method but just a way to see if the trade you are already in from the extremes is still going strong or am i reading to much into it?

Regards
Distinction

That is correct.

[rahimseven]

Awesome, thanks so much.

Would you recommend I finish the rest of the 250 pages in the NLA thread before beginning this thread? Or skip to this thread or even the post you linked me to?

I would never tell someone to read through hundreds of pages, but I wouldn't stop them either

It is hard to answer you when I don't know what your goals are.

If you want to study trading then read tens of thousands of posts over several forums.

If you just want to make money then ask and someone will show you how =)

Can someone please show me the way??? Can't get my head around this method yet.

[rahimseven]

I'll read a bit more...

[MightyOne]

I'll read a bit more...

usdcaddaily.png (34.2 KiB) Viewed 6493 times

Remember: you must normalize your risk when increasing your position size (if you double your lots then you must halve your 'space' (drop your stop closer to the current price).

[TheRumpledOne]

usdcaddaily.png (60.35 KiB) Viewed 6439 times

Looking at the daily highs and lows, one can see where price "runs out of gas" and must return to "refuel".

[MightyOne]

I am mostly interested in 'double failures':

Lower high (failure 1), breakout of lower high but does not close higher (failure 2)

price is in a down-trend, there is a higher high that fails to close higher (1), there is a breakout of that higher high but price fails to close higher (2).

Two is a trend

If you are simply trying to get in on a good thing then you can use any long term breakout as your stop:

usdcaddaily.png (33.7 KiB) Viewed 6421 times

[Captain Pugwash]

I'm not sure why, but my perfect opens that I acquired here never are quite the same as yours Mo- probably not even important - but its about time i asked

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[Jalarupa]

I'm not sure why, but my perfect opens that I acquired here never are quite the same as yours Mo- probably not even important - but its about time i asked

2015-04-15_2150.png

Probably stating the obvious... But your broker times are different... You using FXCM where MO is using MBT... MBT daily open is based off of New York (if memory serves) whereas yours would be another timezone... Ergo you will have differing candles for anything larger than H1...

[Jalarupa]

I am mostly interested in 'double failures':

Lower high (failure 1), breakout of lower high but does not close higher (failure 2)

price is in a down-trend, there is a higher high that fails to close higher (1), there is a breakout of that higher high but price fails to close higher (2).

Two is a trend

If you are simply trying to get in on a good thing then you can use any long term breakout as your stop:

PicsArt_1429143812241.jpg (78.75 KiB) Viewed 6388 times

Just checking to see if I understand your rationale...?