@Diablo1505
do you care for posting your charts which nettet you 203 pips? I am taking the same course as you, and would just like to see how you implement it. I am you sure TMB won’t mind.
Have you played around drawing trendlines out from the 8 and 20 MVA crosses and seeing if they fit future price action? The results I’ve found are pretty impressive. I have no idea how it works or why, but it certainly seems to work. I think if he continues to post them and we continue to experiment with them we’ll get it. It’s just like learning any other trade, he can see things that we simply cannot (without experience). In time however, it should just “click” at least that’s how it’s been with most other skills i’ve learned. Look at Diablo, he’s tearing it up!
Also, am I the only person that finds it very difficult to see whats going on in charts posted here? Jeppe, I cant really make out the prices/lines entries and exits, its just too small and blurry.
The question is which timescales? I’ve tried out plotting trendlines on the dailies or H8s and they do have merit. However, when you are trading a 4H pattern for a few dozen pips, there is a mismatch between respect of the trendline and your stops, at least for me so far. Within 40 pips still respects a daily but is probably way past a stop for a 1H trade. I have not had much success in predicting price with lower timeframe trendlines. I will keep trying though.
I also, don’t particularly like that we can’t understand why it works. What attracted me to this method, other than TMBs documentation of his path was that Gartleys were based off timeless patterns that are now even more entrenched in trading. It seems like a system that could always be used if you learned how to use it. These lines work now, but if they stop working, then they may really stop working and you’ll drawdown 50% before you realize it.
Good point…
Gah, tomorrow is full of major news for pretty much every pair…
You guys should check out AUDUSD, many patterns forming in the same location.
Can you post the picture?
I got burned hard by AUD/USD on a Bullish Gartley this morning. Respected every fib level within 5-10 pips then blew 25 pips past mine before bothering to retrace. I almost feel betrayed…
Look at Daily, 4 hr , 1 hr tf’s they are quite obvious.
EURO/AUD 30 min
It’s good at the moment .236 profit set. See how it goes .Bad Stop Loss hit -20 pips
I must disagree, it’s about doing your homework and knowing all the possible resistance levels you will reach for the day and using harmonics to find the correct convergence zone to enter.
All of the trades I posted yesterday was from using MVA analysis on the 8h 1h and 5-1m charts for the euro/yen and usd/jpy combined when confirming a direction.
EX.:
EJ 1 Min Chart
UJ 1 Min Chart
Here I’m using the 1 minute chart for the EJ to find patterns along with the UJ as confirmation after breaking MSRT zones from the 1min-5min chart for confirmation on yen direction. This was responsible for the positive trading I posted yesterday and what I mean about doing your home work. I understand that drawing trendlines is subject to the level of understanding of the trader. But with all the examples I’ve and many other traders have posted and with your own experience in trading, you will come to understand that this basic tool can become a very powerful ally when trading any system. It is just as important as knowing all your candlestick patterns and learning to perceive price action.
Sorry to heat that. But just take a breath, analyze what made you loose it and avoid it in the future or recall what happened when you reacted like that.
Thanks!
Congatulations TMB! You’re trading results are simply stunning! Keep it up and thanks for sharing your success with us!
Thanks! Yeah it was deffinitely the education! Simple and amazingly effective.
Thats deffinitely one of the best things to master: Patience and not always to force a trade that is not there! Good job shonick!
PS. Sorry guys for spamming the forum right now but i’m on my phone and can’t quote all your posts in one post.
Hey Jeppe,
I’m very busy this week but send me a pm and i will try to redraw the setups for you and send you some screenshots when i get some minutes to spare.
that’s exactly what one must do when facing that situation. I’m glad you have come to that realization so early in you trading career Diablo1505.