TheRoper » Thu Dec 17, 2015 2:21 am wrote:

Tom822 » Wed Dec 16, 2015 6:24 pm wrote:
EUR/CAD - goal of my trade on this pair was 50 pips. My entry point was at the level which I marked on screenshot. I was sure that we will get 3rd level on 16th December, moreover I found an M on this level which I read as 2nd level. There were pins as well. Moreover, this M came right after the end of Asian range. Anyway, I did not reached these 50 pips because "market" went up.

Could you tell me what I missed ? Is that possible that when we trade on M15 then we should be ready for such situations that there will be no 3 days cycle but 2 days cycle ?

Hi Tom,

I am still learning but the 1 hr time frame looks very similar to the chart CJ provided us at the beginning of the thread.

Kind Regards

Kurt

sympathy » Thu Dec 17, 2015 10:14 am wrote:Always cool at 3rd push right?

Captain Jack » Thu Dec 17, 2015 2:46 am wrote:

Tom822 » Wed Dec 16, 2015 7:24 pm wrote:
EUR/CAD - goal of my trade on this pair was 50 pips. My entry point was at the level which I marked on screenshot. I was sure that we will get 3rd level on 16th December, moreover I found an M on this level which I read as 2nd level. There were pins as well. Moreover, this M came right after the end of Asian range. Anyway, I did not reached these 50 pips because "market" went up.

Could you tell me what I missed ? Is that possible that when we trade on M15 then we should be ready for such situations that there will be no 3 days cycle but 2 days cycle ?

And your interpretation of this is that the "M" you traded represented the "Peak High" where it is supposed to form?

-CJ-

Tom822 » Thu Dec 17, 2015 11:34 am wrote:
No, this M which I marked on previous screenshot wasn't a peak high, but I knew it. I just described my entry point on the "2nd level" before. Check my another screenshot below which includes all details.

Maybe my question is stupid, but what's the reason of taking entry on peak high or peak low if we are sure that each cycle have 3 levels ? By the way, I took entry below this peak high because I recognized this "1st level" but I closed my trade before Asian range. But after asian range I took a new entry point because I was sure that there shall be 3rd level what did not happen.

Tom822 » Thu Dec 17, 2015 10:54 am wrote:Sympathy - question to you because I think it can be more clear for me after your last post.

I noticed that you trade on M15, so before you start your trade you always wait for these 3 pushes (of course I understand difference between 3 pushes and 3 levels), and then you are looking for an M or W (it depends from the direction) ? You do not trade during these 3 pushes, you always wait when these 3 pushes will be completed?

What do you do in a such situation where after these 3 pushes you will not find an M or W, do you leave such a trade, I mean by that, you do not take such a trade ?

So after asian range you are waiting for these signals:

1. 3 pushes
2. M or W
3. And if you recognized both of above signals then you will start your trade in accordance with "market" direction ?

I would be grateful for your response.