[B]Fractal Highs[/B] are formed when a high is created that is higher than that of the two candles before it and the two candles following it. This will form your Pivot Swing High.
[B]Fractal Lows[/B] are formed whent a low is created that is lower than that of the two before it and that of the two candles following it. This will form your Pivot Swing Low.
The higher the time frame, the less frequently they are formed. As such the reliability of the setups increase as you scan bigger timeframes for setups and execute them on lower time frames. So this is what I use as my primary filter.
When I say we may have different goals I mean PIP goals.
Hi PipDoctor! Glad to see around here! It may be good for you to still ask the questions that you have as that may help me with preparing explanations. Perphaps my response to TWHMs question will give some clarification.
I work out everyday as well, so I get a lot more rest and time for other things when I have weeks like this one.
Hope to have the update up by Friday.
I think you have cleared it up for me. I did not know fractals were formed by the previous and following TWO candles. so the fractal patterns take 5 candles to form.
Shows Im still a n00b. I was sat in front of the chart yesterday for a while waiting for the fractal symbol to come up on the 4h chart, but it didnt…
Now that I understand this better, perhaps my setup finding will go better and lead to trades that will match your Pip goals.
That’s it from me. going to be in meetings for most of the rest of this week. I will pop in from time to time, eagerly awaiting this update. Have a good week(+end)
I had this exact question. I was waiting for the next fractal to form and felt like I kept missing trades or didn’t want to enter too late. How are you guys addressing this to anticipate the move? I am very much a noob so bare with me, I did take three trades last night that all won but still feel it was more luck than anything…
Looking forward to the update, would love to see an example of an entry step by step as the candles form if you are able to…or maybe waiting for the fractal to form isn’t too late? Thoughts? (Sorry if this is a confusing question, I’m having trouble explaining what I mean!)
I understand your question fine. What I will do is post two or so examples of charts with my trade entires. Sometimes I get real lazy and just say, “the H4 PVSH on GU”. TWHM may also have some examples to post for you. Good going on those trades, and I do understand that you want to feel confident that you are doing the right thing. So will post the charts later and complete the update by tomorrow.
posting from my phone. took a small loss last night on a paper trade. didnt do it on my account but write out my entry exit stop etc. went long on eu but didnt work out… i think that pair might be a bit unstable for now. bye
Due to changes in at work, I will no longer be able to trade throughout the day. I have decided that I will trade off the daily and weekly charts and see what happens. Hopefully I can still make some good profits. I just dont have enough time. I will be finishing from where I work in about a months time, so I will trade off the daily charts until then. Unfortunately that means I wont be on BP as much
I am still digesting the new charts you provided Bank. So far from what I see it seems good! I will make sure I completely understand it before I post any questions I might have.
Look at how nicely this old Pivot Swing Low triggered a great sell. Similar setups also triggered on the EUR/USD and GBP/USD.
Please pardon my different looking charts. VT Trader is throwing me off with the invisible 4 hour candles.
Will miss your input on the thread, however I do understand what you mean. You will definitely see stronger setups on the bigger time frames, particularly with the updated segment.
Currently Long the EUR/JPY from the PVSLs marked in the chart below. The Blue lines are represent the OLD PVSHs of the downtrend that just took place and therefore the areas we expect to buy. The gray line represents areas that have already triggered entries.
There’s been decent buying in EUR/GBP recently which has helped E/U climb a bit. Might lead to some short covering from this morning as traders only seem to be renting positions with such twitchy conditions around. That long you identified above could be good to 1.4070-80 - not sure there’d be much more in it today at least with the battering the markets are taking.
