Daily Forex Trading

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Leoheart
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Re: Daily Forex Trading

Postby Leoheart » Sat May 19, 2018 11:14 pm

LeMercenaire wrote:Brett has asked me if I could explain the 1-2-3 method that myself and Achoo occasionally reference here (including, coincidentally, the post above).

Well, first thing, I should point out that this has nothing to do with the 1-2-3 pattern talked about at times through the threads here. In fact, we should say that this is a 1-2-3 sequence.

1: Did the H1 bar (#1) make a new High on the day?
If yes, then...
2: Did the following H1 bar (#2) try and fail to make a new High?
If yes, then...
3: Enter SHORT as price crosses back down across the Open Level of Bar #2. (Marked with red circle on the chart below).

Opposite for Long entries.

I did not invent this method - in fact the reason I gravitated towards it in the first place was because I had used something along the same lines on the very high time-frames I used to trade and knew it worked. This particular variant comes via TooSlow over in ''The Other Place'' via our very own Stainless Steel Rat, TRO.

Myself and HAL over there, the two main contributers to the thread, take 90 - 95% off at the +5 mark and let the rest run - plus I will not hestitate to re-enter should price flip and flip again. I will also counter trade on any move that goes negative to keep any bad trade in limbo and to add some extra swag to the bank to give me a head start on my target figure.

The method is deceptively simple and is rock-solid. It repeats and repeats ad infinitum and rewards fine tuning with the ability to relentlessly bank pips.

It will run on any FX pair (though HAL and TS have their favourites and UC is particularly suited to it, due to its tendency to ''top-and-tail'' the day).

I also run it on a stable of indices, my ''Weird Bunch'' - DAX, F40, S&P, US30 and FTSE - and it rocks big time with those.

Here's that chart to give a visual component to the above chunk o' info...

.US500.H1aspicture-perfect1-2-3May16th18withmarkedentryEGforBrett.png

Detail:
Inked.US500.H1aspicture-perfect1-2-3May16th18withmarkedentryEGforBrett_LIcrop.jpg

Also, yes, the previous high was also a valid set-up and would have bagged the +5 but I ignored that for clarity here. Plus, there's nothing about only taking one bite of a 1-2-3 cherry. In fact, you will often get one or two small moves before a larger, solid kicker.

Anyway, there ya' go.

Any questions, feel free to ask as always.


In blue: Lem, can you please show us some examples of these when you run into these scenarios.

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LeMercenaire
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Re: Daily Forex Trading

Postby LeMercenaire » Sat May 19, 2018 11:28 pm

Leoheart wrote:
LeMercenaire wrote:Brett has asked me if I could explain the 1-2-3 method that myself and Achoo occasionally reference here (including, coincidentally, the post above).

Well, first thing, I should point out that this has nothing to do with the 1-2-3 pattern talked about at times through the threads here. In fact, we should say that this is a 1-2-3 sequence.

1: Did the H1 bar (#1) make a new High on the day?
If yes, then...
2: Did the following H1 bar (#2) try and fail to make a new High?
If yes, then...
3: Enter SHORT as price crosses back down across the Open Level of Bar #2. (Marked with red circle on the chart below).

Opposite for Long entries.

I did not invent this method - in fact the reason I gravitated towards it in the first place was because I had used something along the same lines on the very high time-frames I used to trade and knew it worked. This particular variant comes via TooSlow over in ''The Other Place'' via our very own Stainless Steel Rat, TRO.

Myself and HAL over there, the two main contributers to the thread, take 90 - 95% off at the +5 mark and let the rest run - plus I will not hestitate to re-enter should price flip and flip again. I will also counter trade on any move that goes negative to keep any bad trade in limbo and to add some extra swag to the bank to give me a head start on my target figure.

The method is deceptively simple and is rock-solid. It repeats and repeats ad infinitum and rewards fine tuning with the ability to relentlessly bank pips.

It will run on any FX pair (though HAL and TS have their favourites and UC is particularly suited to it, due to its tendency to ''top-and-tail'' the day).

I also run it on a stable of indices, my ''Weird Bunch'' - DAX, F40, S&P, US30 and FTSE - and it rocks big time with those.

Here's that chart to give a visual component to the above chunk o' info...

.US500.H1aspicture-perfect1-2-3May16th18withmarkedentryEGforBrett.png

Detail:
Inked.US500.H1aspicture-perfect1-2-3May16th18withmarkedentryEGforBrett_LIcrop.jpg

Also, yes, the previous high was also a valid set-up and would have bagged the +5 but I ignored that for clarity here. Plus, there's nothing about only taking one bite of a 1-2-3 cherry. In fact, you will often get one or two small moves before a larger, solid kicker.

Anyway, there ya' go.

Any questions, feel free to ask as always.


In blue: Lem, can you please show us some examples of these when you run into these scenarios.


Yep, I can do that.

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LeMercenaire
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Re: Daily Forex Trading

Postby LeMercenaire » Sun May 20, 2018 6:22 pm

Something Wicked This Way Comes...

CADJPY.cH4asmajorZ-LineSet-Up20thMay18.png
CADJPY.cH4asmajorZ-LineSet-Up20thMay18.png (31.84 KiB) Viewed 2692 times


CADJPY.cH1asMajorZ-Line20thMay18.png
CADJPY.cH1asMajorZ-Line20thMay18.png (35.84 KiB) Viewed 2692 times

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achooblessyou
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Re: Daily Forex Trading

Postby achooblessyou » Sun May 20, 2018 9:25 pm

LeMercenaire wrote:Something Wicked This Way Comes...

CADJPY.cH4asmajorZ-LineSet-Up20thMay18.png

CADJPY.cH1asMajorZ-Line20thMay18.png

Looks clean, possibly short it down to that big demand area

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LeMercenaire
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Re: Daily Forex Trading

Postby LeMercenaire » Sun May 20, 2018 10:14 pm

achooblessyou wrote:
LeMercenaire wrote:Something Wicked This Way Comes...

CADJPY.cH4asmajorZ-LineSet-Up20thMay18.png

CADJPY.cH1asMajorZ-Line20thMay18.png

Looks clean, possibly short it down to that big demand area

That would be my thinking.

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Re: Daily Forex Trading

Postby LeMercenaire » Wed May 23, 2018 8:32 am

Well, this looks interesting...

USDCADH4mmmmmm23rdMay18.png
USDCADH4mmmmmm23rdMay18.png (45.5 KiB) Viewed 2614 times

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achooblessyou
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Re: Daily Forex Trading

Postby achooblessyou » Wed May 23, 2018 4:01 pm

LeMercenaire wrote:Well, this looks interesting...

USDCADH4mmmmmm23rdMay18.png

Worked out with a nice 123/holo

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LeMercenaire
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Re: Daily Forex Trading

Postby LeMercenaire » Wed May 23, 2018 5:48 pm

achooblessyou wrote:
LeMercenaire wrote:Well, this looks interesting...

USDCADH4mmmmmm23rdMay18.png

Worked out with a nice 123/holo

I took the later trade - the HOLO - but let the 1-2-3 go, as I just wasn't sure it had topped out.

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LeMercenaire
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Re: Daily Forex Trading

Postby LeMercenaire » Fri May 25, 2018 2:25 pm

It would have been rude not to...

.DE30.H1aaaaaannnddddrightbacktotheZ-Line25thmay18.png
.DE30.H1aaaaaannnddddrightbacktotheZ-Line25thmay18.png (37.96 KiB) Viewed 2526 times


Inked.DE30.H1aaaaaannnddddrightbacktotheZ-Line25thmay18_LIcrop.jpg
Inked.DE30.H1aaaaaannnddddrightbacktotheZ-Line25thmay18_LIcrop.jpg (60.78 KiB) Viewed 2526 times

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achooblessyou
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Re: Daily Forex Trading

Postby achooblessyou » Fri May 25, 2018 8:05 pm

LeMercenaire wrote:It would have been rude not to...

.DE30.H1aaaaaannnddddrightbacktotheZ-Line25thmay18.png

Inked.DE30.H1aaaaaannnddddrightbacktotheZ-Line25thmay18_LIcrop.jpg

That went rather well huh?
Shorted EU out of a nice contraction at Frankfurt caught the big 123 as well

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