Wavegarrick » Thu Mar 22, 2018 3:58 pm wrote:Trade taken On Eurusd today.

The asian range was broken to the upside. I took this trade based on the fact that price reached my daily resistance at London open. Also in the sixths Zone. A cardinal rule I broke is that I did not wait for the M to form on the 15 min t/frame.

Nevertheless all turned out good> I am currently locked in at 40 pips profit with 70 pips if I close now.

Cheers
Leon

Hello,
I wonder how your trade is related to CJ's trading? No level count, no accumulation->stop hunt->3 pushes-> M/W pattern, no RRT/M/W pattern after 3 day cycle...

Elant » Thu Mar 22, 2018 5:13 pm wrote:
Hello,
I wonder how your trade is related to CJ's trading? No level count, no accumulation->stop hunt->3 pushes-> M/W pattern, no RRT/M/W pattern after 3 day cycle...

Wavegarrick » Wed Mar 21, 2018 3:45 pm wrote:Ok Guys I was fortunate enough to find my first setup today.

1. Grab the asian range. Generally between 15 to 50 pips. This is the accumulation phase on low volumes.
2. Around London open, mark the asian hi/low range.
3. Wait for the asian breakout, no matter if it is to the upside or downside, you don't care
4. After 30 to 90min, mark the LOD/HOD (low of the day, high of the day).
5. Price will retrace a bit, now look for "M" or "W" patterns.
6. Enter short at the top, long at the bottom at the second retest. Look also for patterns like pin's, rrt, hanging man, etc in the M & W zones.
7. If all is ok you should be in profit.
8. Breakout traders are trapped in their breakout thing. They are now hoping the price will go at least at their entry price to exit at BE ... but price is now ranging, they are stuck ...
9. One hour after, the trend will resume and the price will be begin to drift in your direction forcing breakout trader to close their order, this will also accelerate the move.

The asian range on Eurcad was just over 60 pips which was a big range. I waited for London open and an M to form on the 15 min t/frame. There was a false breakout in london open, the reason I felt comfortable with opening this short is because we had a lower low on the daily t/frame.

Be careful between London & NY close, there should be a pullback if the range was big. This keeps a bit a the volume and money for the next day.

As lhDt mentions be careful between london and NY close so will be watching out for this.
Comments are welcome and it is a first for me and early days, but I am determined to get a hang of this now.

Cheers
Leon

Elant wrote:Okay here is why I have asked. The asia range pattern Wavegarrik's trade was based upon was quite rudimental (no real range, no M pattern, no 3 pushes...). If I remember right Sympathy always waited for the M/W formation even it often looked somewhat unorthodox

Sympathy has traded the asia range/accumalation, SH, range extention, MW pattern mostly after a 3 day cycle. When he thought the cycle is finished (after the third level) he waited for the next day and then he has traded the above mentioned pattern as start of a new level 1 move.
So when I noticed Wavegarrik's trade I was interessted in if there was any wave count to support the trade or was it out

Wavegarrick » Fri Mar 23, 2018 8:49 am wrote:Hi Guys,

I have with Steve's advice, decided that I will continue posting here.

There is alot of work ahead if I want to get on top of these 3 level pushes etc. I will start reading through the thread on the weekend.

I have been concentrating on the 15 min time frame which relates to intra day trading as described on pg 77.
If I get it wrong so be it. Trust me when I write this. 20 others will learn from my mistakes. If you are a pro at naked trading or it is not new to you, please I appreciate your advice and I am sure 20 other will appreciate it too.

All I am asking is that we respect the ethos of SHF and each other.

Have a great weekend.

Cheers
Leon