Mr. Hyde wrote:1st trade was S/R trade with 1/4hr color.
2nd trade was D/W/M/Y low trade with 1/4hr color.
3rd trade was equal size (3 trades taken today off this simple setup) candles setup at a dragon line.
4th trade was equal size candles on the 5m chart at S/R level.
GU was just picture perfect today.
Nice trading, I need to get used to the overlays think they would help. Can you tell me what you mean by equal size candles Ive never heard that before?
I do this sometimes oh the hour chart, if price really moving on the m15 i wait for either a m15 for a hour close above in this case a down candle get in at the line, this trade is with h4 i waited for hour to turn green to get in after wicking the line. This target is H4 zline
Mr. Hyde wrote:1st trade was S/R trade with 1/4hr color.
2nd trade was D/W/M/Y low trade with 1/4hr color.
3rd trade was equal size (3 trades taken today off this simple setup) candles setup at a dragon line.
4th trade was equal size candles on the 5m chart at S/R level.
GU was just picture perfect today.
Nice trading, I need to get used to the overlays think they would help. Can you tell me what you mean by equal size candles Ive never heard that before?
thanks
Equal size candles or called railroad tracks are just a set of candles (one bearish/bullish and the other one opposite) that are of equal or close to equal length.
I zoomed in on the chart so you can see the candles better (the candles with the red arrows). Now I don't just trade them blindly but a potential turning spots.
Mr. Hyde wrote:1st trade was S/R trade with 1/4hr color.
2nd trade was D/W/M/Y low trade with 1/4hr color.
3rd trade was equal size (3 trades taken today off this simple setup) candles setup at a dragon line.
4th trade was equal size candles on the 5m chart at S/R level.
GU was just picture perfect today.
Nice trading, I need to get used to the overlays think they would help. Can you tell me what you mean by equal size candles Ive never heard that before?
thanks
Equal size candles or called railroad tracks are just a set of candles (one bearish/bullish and the other one opposite) that are of equal or close to equal length.
I zoomed in on the chart so you can see the candles better (the candles with the red arrows). Now I don't just trade them blindly but a potential turning spots.
OH ok RR trax got it guess i just never traded that pattern. I need to practice dragon lines, are you drawing them on hour or H4, I think Arkan said just turning points, or S/R areas?
brettnchrism wrote: Nice trading, I need to get used to the overlays think they would help. Can you tell me what you mean by equal size candles Ive never heard that before?
thanks
Equal size candles or called railroad tracks are just a set of candles (one bearish/bullish and the other one opposite) that are of equal or close to equal length.
I zoomed in on the chart so you can see the candles better (the candles with the red arrows). Now I don't just trade them blindly but a potential turning spots.
OH ok RR trax got it guess i just never traded that pattern. I need to practice dragon lines, are you drawing them on hour or H4, I think Arkan said just turning points, or S/R areas?
I look at dragon lines mostly at 1hr, but also 4hr and daily. Dragon lines are just S/R but at closes instead of extremes.
Mr. Hyde wrote: Equal size candles or called railroad tracks are just a set of candles (one bearish/bullish and the other one opposite) that are of equal or close to equal length.
I zoomed in on the chart so you can see the candles better (the candles with the red arrows). Now I don't just trade them blindly but a potential turning spots.
OH ok RR trax got it guess i just never traded that pattern. I need to practice dragon lines, are you drawing them on hour or H4, I think Arkan said just turning points, or S/R areas?
I look at dragon lines mostly at 1hr, but also 4hr and daily. Dragon lines are just S/R but at closes instead of extremes.
ok i will try that see if i can get it right, i have insomnia like arkan, so I am in study mode.
Yup. They are drawn were there is a color change. I mostly look for them at extremes as that is were they are the most useful (to me) or at a few other key area's.
i will watch those maybe i can get more than one trade a day, waiting for h4 mo then the pullback then the go with hour color takes a few hours, would like to have a few other ways to grab pips