Daily Only Currency Charts

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LeMercenaire
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Re: Daily Only Currency Charts

Postby LeMercenaire » Sun Jun 23, 2019 9:16 pm

aliassmith wrote:
LeMercenaire wrote:Hope your back heals quickly. Nothing worse than a sore back - like toothache for your whole body.


Its getting better. Somehow I pinched a nerve then strained a muscle. The nerve is unpinched and the muscle is getting better.


Cool. Fingers crossed.

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Re: Daily Only Currency Charts

Postby trojoh68 » Sun Jun 23, 2019 9:25 pm

Sorry to hear about your back, Alias. When I hurt mine the first time, I discovered REAL fast that you use your back for just about everything. So, I sympathize.


"Using a R:R of 1:2 is just simple and a starting point for this thread."

Gotcha


"Looking at 2 trades there that make sense. I see you will be managing them different. You scale out on one of them and not on the other. Why not use the same management for both?"

I'm accustomed to shorter time frames where it seems price reacts at least some to almost every z-line. For this, I will go for 1:2 and move SL to BE after 1:1 is achieved. It's simple and I need that while learning and adjusting.

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Re: Daily Only Currency Charts

Postby trojoh68 » Sun Jun 23, 2019 10:06 pm

aliassmith wrote:Injured my back Friday so I may as well sit here and post some content.
I went back to the beginning of the year on this GBP/USD chart I have
been posting.

There were 10 straight forward trades,up until now
(at least from my perspective)

On this chart there are 5 trades and there is a 6th one that
didn't make the pic. Previously I posted 4 other trades.

The first trade in this pic is a PINBAR long trade

The second trade is a failed zline short

The third trade is a zline short
It wasn't text book but they aren't always

The forth trade was a zline long
It also wasn't text book

The fifth trade is zline as resistance short

out of 10 trades this year 8 hit 2R for targets
1 trade was a loss for 1R or less
1 trade was a gain for about 1R
Without anything fancy you would be up about 16R with 1 pair in 6 months.

I used a PINBAR, Zline, Failed Zline, along with looking at Market Structure, and there are some SEMA confluence



Out of curiosity, on the pin bar would that have been a rat entry? My potential entry would have been later when the DojiZone failed.

Image

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aliassmith
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Re: Daily Only Currency Charts

Postby aliassmith » Sun Jun 23, 2019 11:09 pm

trojoh68 wrote:
aliassmith wrote:Injured my back Friday so I may as well sit here and post some content.
I went back to the beginning of the year on this GBP/USD chart I have
been posting.

There were 10 straight forward trades,up until now
(at least from my perspective)

On this chart there are 5 trades and there is a 6th one that
didn't make the pic. Previously I posted 4 other trades.

The first trade in this pic is a PINBAR long trade

The second trade is a failed zline short

The third trade is a zline short
It wasn't text book but they aren't always

The forth trade was a zline long
It also wasn't text book

The fifth trade is zline as resistance short

out of 10 trades this year 8 hit 2R for targets
1 trade was a loss for 1R or less
1 trade was a gain for about 1R
Without anything fancy you would be up about 16R with 1 pair in 6 months.

I used a PINBAR, Zline, Failed Zline, along with looking at Market Structure, and there are some SEMA confluence



Out of curiosity, on the pin bar would that have been a rat entry? My potential entry would have been later when the DojiZone failed.

Image


PINBAR entry would have just been on the break of the PINBAR.
Your entry would have been good also, but you would of moved your Stop to BE and got stopped out.
That isn't a horrible outcome, it happens.
From my entry I would consider adding at 1:1 when I moved my Stop to BE on the first position.
That long red wick would have put me offside for part of the day but it would have worked out and got 3R+
Trading Daily Charts, I would not of even know about that long wick red candle until I looked at the end of day chart.
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aliassmith
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Re: Daily Only Currency Charts

Postby aliassmith » Sun Jun 23, 2019 11:55 pm

aliassmith wrote:Injured my back Friday so I may as well sit here and post some content.
I went back to the beginning of the year on this GBP/USD chart I have
been posting.

There were 10 straight forward trades,up until now
(at least from my perspective)

On this chart there are 5 trades and there is a 6th one that
didn't make the pic. Previously I posted 4 other trades.

The first trade in this pic is a PINBAR long trade

The second trade is a failed zline short

The third trade is a zline short
It wasn't text book but they aren't always

The forth trade was a zline long
It also wasn't text book

The fifth trade is zline as resistance short

out of 10 trades this year 8 hit 2R for targets
1 trade was a loss for 1R or less
1 trade was a gain for about 1R
Without anything fancy you would be up about 16R with 1 pair in 6 months.

I used a PINBAR, Zline, Failed Zline, along with looking at Market Structure, and there are some SEMA confluence


I took a little time to see how many pips would have been made over the six months with the simple
management and every pip is worth the same amount. Total was 1900+

1900 pips at 10 cents is $190 plus some experience and better than losing 5% a week.
1900 pips at $1 is $1900
1900 pips at $10 (1 lot) $19,000

If you are looking at 10+ pairs you may have doubled this or better.
with creativity and some luck an account could be doubled, your mind is the only limitation.
I remember a time when I thought 12% a year was crazy.
I may be able to teach a monkey to make that.
I read/watch about a woman that was making 30% to 40% a year and people were
basically dumping millions in her lap for her to trade. If you can make that or
more you are a superstar trader.
Trade Your Way as Long as It Makes Money!

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paweldobkowski
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Re: Daily Only Currency Charts

Postby paweldobkowski » Mon Jun 24, 2019 8:59 am

oh thats cool Alias
i always liked your outlook on things
excited for the thread!

and a back injury on Friday?
someone likes to PARTY lol
im gluten free intolerant

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Re: Daily Only Currency Charts

Postby trojoh68 » Mon Jun 24, 2019 8:51 pm

EUR/JPY did not retrace, so no orders were triggered. All three entries were triggered on GBP/CAD for an average entry at 1.6800, but no movement toward profit as of now. I'll see what it does tomorrow.

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Re: Daily Only Currency Charts

Postby trojoh68 » Mon Jun 24, 2019 9:15 pm

aliassmith wrote:out of 10 trades this year 8 hit 2R for targets
1 trade was a loss for 1R or less
1 trade was a gain for about 1R
Without anything fancy you would be up about 16R with 1 pair in 6 months.

I used a PINBAR, Zline, Failed Zline, along with looking at Market Structure, and there are some SEMA confluence



Alias,

Would you mind elaborating (teaching) on this for me? It's a term that I have seen on Kreslik a lot and I don't want to assume that know what it means. My present understanding is that it is the context in which a trade occurs. For example, when we have a bullish momentum candle creating a z-line, market structure refers to where this is occurring --- at the end of a series of bearish candles or on a market correction (thus being a higher low) or above a ranging area. Am I on the right track? Is there more to it?

trojoh68

(Answer at your convenience. I have a 4 hour drive awaiting me, so I will not even be able to check the thread again until late in my time zone. Thanks!)

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Re: Daily Only Currency Charts

Postby aliassmith » Mon Jun 24, 2019 10:36 pm

trojoh68 wrote:
aliassmith wrote:out of 10 trades this year 8 hit 2R for targets
1 trade was a loss for 1R or less
1 trade was a gain for about 1R
Without anything fancy you would be up about 16R with 1 pair in 6 months.

I used a PINBAR, Zline, Failed Zline, along with looking at Market Structure, and there are some SEMA confluence



Alias,

Would you mind elaborating (teaching) on this for me? It's a term that I have seen on Kreslik a lot and I don't want to assume that know what it means. My present understanding is that it is the context in which a trade occurs. For example, when we have a bullish momentum candle creating a z-line, market structure refers to where this is occurring --- at the end of a series of bearish candles or on a market correction (thus being a higher low) or above a ranging area. Am I on the right track? Is there more to it?

trojoh68

(Answer at your convenience. I have a 4 hour drive awaiting me, so I will not even be able to check the thread again until late in my time zone. Thanks!)


There probably won't be anything revolutionary in this explanation. You will learn more from observing the charts. Trading the Daily charts is swing trading. So we should study swings and turns. Swings can/will move in pushes. So you should observe if your pair likes to turn mostly after 1 push or 2.
looking at the charts and how it pushes higher you can see if a push runs out of steam. Market structure can also be break out points, wick formation, higher highs, lower lows, etc.
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Re: Daily Only Currency Charts

Postby aliassmith » Mon Jun 24, 2019 10:51 pm

trojoh68 wrote:EUR/JPY did not retrace, so no orders were triggered. All three entries were triggered on GBP/CAD for an average entry at 1.6800, but no movement toward profit as of now. I'll see what it does tomorrow.

Image


We had a #3 sema
There were 2 pushes down
We have a zero line long

I got in a bit early 1.6808
Now we wait!!!!
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