Libertarians take on trading

[MightyOne]

Same thing, different chart.

USDHUFMonthly.png (24.61 KiB) Viewed 3384 times

[Libertarian]

Happy New Year to all my Klik friends.

This is my current thought process. Didn't have my MT4 charts available so I don't have the eights on the chart.


This is what started me out looking at the chart. Didn't even slow down for a wave

original thought.png (55.12 KiB) Viewed 3323 times

With all those folks sitting in profit, I figure it might make at least a 50% retrace.

current thought.png (59.17 KiB) Viewed 3323 times

Closing higher going higher.

trade chart.png (48.49 KiB) Viewed 3323 times

[Libertarian]

Backstreets back all right.

Thought I had made some major strides, but 2 trades in and its the same old s**t.

Pretty obvious ZL

gbpjpy-d1-capital-city-markets.png (51.79 KiB) Viewed 3234 times

Weekly High, held profit

gbpjpy-h4-capital-city-markets.png (59.45 KiB) Viewed 3234 times

Price had taken out all the shorts from the first run down, price closed lower again, held profit, third arrow I entered, price BO and enter on the BI. Price started to move against me, finally got a strong green close against me, which would have been my signal to get out. But then we got that 4th arrow, strong close lower, was acting as resistance, was still in the area where I think the held profit would have been. So I would have entered again, I ended just staying in because I was sleeping. price had moved all the way to the extreme ZL and finally closed red, I thought I was golden, then news seemed to hit and price blasted through. The good news is you can see by my space box, it was an absolutely horrid exit.

gbpjpy-m30-capital-city-markets-2.png (53.98 KiB) Viewed 3234 times

[Libertarian]

Looked weak to me

eurusd-w1-capital-city-markets.png (43.64 KiB) Viewed 3234 times

Price had been zeroing all the shorts as it slowly moved lower so I thought it might be primed to trend a little bit. Thought I'd find resistance in this area.

eurusd-h4-capital-city-markets.png (62.03 KiB) Viewed 3234 times

price had a strong reaction in my area, I set the limit order to enter on the BI, price did some crazy crap, when the 30 min closed over my ZL I exited. Green box is my space.

eurusd-m30-capital-city-markets.png (42.93 KiB) Viewed 3234 times

[Mira]

Looked weak to me
eurusd-w1-capital-city-markets.png
Price had been zeroing all the shorts as it slowly moved lower so I thought it might be primed to trend a little bit. Thought I'd find resistance in this area.
eurusd-h4-capital-city-markets.png
price had a strong reaction in my area, I set the limit order to enter on the BI, price did some crazy crap, when the 30 min closed over my ZL I exited. Green box is my space.
eurusd-m30-capital-city-markets.png

Hi Libertarian!

At what price you went short?
Btw looking at the weekly you shorted at the origin of the bullish breakout, the bearish one was higher.
On the H4 price already closed back in the previous bottom with momentum.. the fibo tool (0%, 50%, 100%) is really helpful when looking at the “big picture”.

Long <= 50%
Short >= 50%

If this can help.

[LeMercenaire]

Looked weak to me
eurusd-w1-capital-city-markets.png
Price had been zeroing all the shorts as it slowly moved lower so I thought it might be primed to trend a little bit. Thought I'd find resistance in this area.
eurusd-h4-capital-city-markets.png
price had a strong reaction in my area, I set the limit order to enter on the BI, price did some crazy crap, when the 30 min closed over my ZL I exited. Green box is my space.
eurusd-m30-capital-city-markets.png

Hi Libertarian!

At what price you went short?
Btw looking at the weekly you shorted at the origin of the bullish breakout, the bearish one was higher.
On the H4 price already closed back in the previous bottom with momentum.. the fibo tool (0%, 50%, 100%) is really helpful when looking at the “big picture”.

Long <= 50%
Short >= 50%

If this can help.

I love a good 50-Bounce

[Mira]

Looked weak to me
eurusd-w1-capital-city-markets.png
Price had been zeroing all the shorts as it slowly moved lower so I thought it might be primed to trend a little bit. Thought I'd find resistance in this area.
eurusd-h4-capital-city-markets.png
price had a strong reaction in my area, I set the limit order to enter on the BI, price did some crazy crap, when the 30 min closed over my ZL I exited. Green box is my space.
eurusd-m30-capital-city-markets.png

Hi Libertarian!

At what price you went short?
Btw looking at the weekly you shorted at the origin of the bullish breakout, the bearish one was higher.
On the H4 price already closed back in the previous bottom with momentum.. the fibo tool (0%, 50%, 100%) is really helpful when looking at the “big picture”.

Long <= 50%
Short >= 50%

If this can help.

I love a good 50-Bounce

Price has a weird logic.. (for a long) pullbacks above 50% are risky, pullbacks below 25% are risky too.

[IgazI]

stepbystep.png (44.97 KiB) Viewed 3135 times

[Mira]

stepbystep.png

Wonderful! Thanks!

[PTG]

stepbystep.png

Thanks IgazI. I'm currently going through MO's posts of late. I wonder how your picture relates to this post from MO: https://www.kreslik.com/forums/therumpledone/the-ideas-that-i-trade-by-t3256/page4320#p110608

According to that post

Most of the time you should target 2 or 3 lines; 2.5 being 100% of the H1 average true range.

I'm not sure if it was your intention to show that ? Looking at your post, the HATR(32) (is that H1 ?) is 15 , so either it doesn't show the H1 ATR or the line distance acc. to MO's post should be 15 by 2.5 = 6 (2.5 lines = 1 hourly ATR). What's up with this ?