When the big 3 on the 5 and 1h chart line up, it is time to start looking to build a position - yes, sometimes you are going against the color of the H1, but you are looking to scale into a position. From my experience,this is like sitting at a poker table with 4 of a kind or better
Here is how I approach it. I put on some appropriate music, maybe "The Gambler" or "Take the Money and Run". Every grand moment needs a sound track, In a pinch, Survivor's Eye of the Tiger will do as long as you never admit to anyone that you actually listen to it.
When I see the 3 form on the h1, I start looking for an entry on the the 5 minute chart with one unit of risk. Ideally I want to see some movement away from the 5 minute candle that formed the H1. A limit entry is great, but sometimes it is a stop or a market entry. This is a place where 10 can easily equal 50, so you want to be loose when you put this position on - consider this a throw away bet - one unit of risk - say 20 to 25 pips stop loss - I have tried to keep this tight before and usually get stopped out multiple times to the tune of 30 to 50 pips worth of losses during a time when price ranges only about a pip or two beyond my SL. I will have a take profit on this position of about the average hourly range for the currency. I usually put this position on when I see price go thru the go long or short trigger line of the dynamic res lines. This is your ante
Once you are in, and this first position is positive, look to add to the position. Ideally what I like to do is add 2 separate units of risk each time I get in here. At this point i tighten up my SL's to 10 pips. One unit has a TP of 10 pips, the other runs free (I play Euro/US so you may adjust your SL's accordingly). I like to trade free when I can, so if things go against me after my second position is on, it hasnt been a total waste of time
In a perfect world, I add to the position at a psych level and then when candle color flips. You can also look to add to the position when you see a 1 finished forming on a retrace on the 5 minute chart. I look to have between 5 and 8 units of risk riding during this run and start think about closing out the position once the first position comes close to its TP level. - look to pull 50 to 90 pips out across this total position (in 40 pips of movement). Often this happens very fast and you don't have the time to get in and set specific TP and SL's for each position, so it requires some dexterity. Of course, you can always just let things ride - all depends on your goals. I personally like to stack 'em and rack'em
Then, and this is the really important part. Shut your machine off and walk away. You are finished for the day.
Sometimes you may find yourself trading against the H1 color - and maybe you are even out of the position entirely (as you would have been on TRO's chart with the last 3) but you are still trading with the trend of the higher time frame
I followed your link and sent emails to Texas representatives. Kreslik members are with ya.
Today in the paltalk 2% TRO was giving out good advice/info on trading the Double 00's. E/U
220 pip daily range average.
00's are 100 pips apart.
Think about it.
I was down big time, all over the place. Started using the psych line trading toward the end of the day and finished with 10 straight in profit.
Still lost 50 bucks but worth the "training" lesson's learned.
1st lesson is that staying up 30hrs trading between work shifts, sleeping 5 hrs, then staying up 36 more hrs has got to stop. Slept 3.5hrs and I'm back at work. Good thing I get to sleep saturday.
I hear a lot of talk about the semifor's lately. Sounds like they are working well for some of you guys. Isn't the H1/M5 semifor kinda like what you were doing with the TRO SS RR? I was with you in that I could see how the M1 reacted to the M5 candle color S/R lines.
Many people say to mark the daily and hourly S/R levels on your chart and it makes for really strong signals on the lower time frames when they match up.
TRO, Thanks for the help today and also thanks for the posts a few days ago on (Natural Laws). Right up my alley. Very enjoyable read.