The aim for every trade is to catch the big candle which is always the beginning of a crashing market.
I have been doing very well over the last year particularly using this methodology and am interested if anyone else uses this style of analysis.
I have been able to achieve great results in the last year by focusing on fundamentals which combines with price action analysis.
Knowledge of news events is not my area of expertise. So I am interested in helping others understand my price action analysis who are fundamentals traders so i can sustain if not improve upon my results.
I believe I am onto something big here and am keen to hear from people who are open minded to using a combination of price action and fundamentals.
Thank you for explaining. I thought each circle was an entry point for you, but it is a serie. That makes sense to me.
Actually, I trade quite the same in one of my scripts, but only based on price-action. Summarrized it is as follows: (for buy)
When the third bar from current is the highest of the last five bars, there is a Top.
When the third bar from the current is the lowest of the last five bars, there is a bottom.
I enter when price passes the Top, with Bottom as SL.
So your little circles are entry-points to me.
When a new cycle formed, SL moves to the next bottom, until SL gets broken.
Donβt trade it, as it is a summarry. But in essence it comes down to this.
Do you use MT4? I can make a small script for you identifying these points. MT4 can send you a notification when they occur.
Before entering a trade I assess a lot of factors.
For example, higher lows, periods of consolidation, strength of cross pairs, upcoming fundementals, potential risk reward ratio and other factors that are more advanced.
In this trade for example I would be cautious about entering as we have just had AUD weakness across the board. Nevertheless, even if you entered this right now its worth taking as your profit target would be at 1.14000. With a stop loss of about 150 pips. This would be a risk reward of 4/1.
I dont take many trades maybe about 10 a year atm. Which can be frustrating as i will often see myself
predict big market crashes but only to see them get away from me without entry.
In the long term however I know patience rewards me.
Its interesting that you mention the chinese stimulus, as these are the type of insights that will add to my ability to catch the beginnings of these crashing markets.
As you can see below NZD is in its crashing market phase for the monthly time frame.
As you can see with the chart below NZD is in the middle of its crashing cycle on the monthly time frame.
For the people who have been private messaging me about the course I have talked about creating.
It is now ready!
To help people understand my strategy I have created a completely free course on udemy.
My course refers people to this thread were I include trades I have posted on here as examples in my course. :)
It is a lot easier for me to explain my analysis on here if I can link to my free course on udemy.
This way people will be able to follow my weekly analysis here if they took my course on udemy.
I was just double checking before I posted the link.
EURCHF turned around against us here. Nothing gained but also nothing lost if you moved stops to break even.
Market dynamics have changed around NZD since I posted about it a few weeks ago. It no longer appears to be setting
up for major weakness any time soon.
In fact there is an opportunity to long it.
Anyone share sentiments on NZDCHF for a long. The optimal place was to get in were I have drawn the final circle
but obviously that has gone now.
Would be interested if anyone shares sentiments on a break out of 0.760 area that looks vulnerable to NZD strength to me.
The strategy that I am trying to explain here is complex and not easy to grasp. I realize that I could
have explained a few things differently that would have made it easier. Anyway I have a new idea.
By creating a new thread that breaks down this advanced system and explains
my strategy in a simplified format, I hope that it will be easier for people to understand.
Eventually I will be able to trade with people who understand my strategy and who will want to
work alongside me achieving insane results together. :)