are we waiting for smaller body candle then extreme candle to go short?
now we are in the daily and weekly retrace
This depends on your personal trading plan entry rules. You do have a written trading plan, donāt you?
My entry rules allow me to cut an extreme candle in half if it reaches from the outer BB to the mid band, which this H4 extreme candle does on my chart. So when I cut it in half, I have penetration of the CBL with the new H4 candle forming now.
The next question is does your trading plan allow you to enter on first penetration of the CBL, or does it require you to wait until the entry candle closes?
If you donāt write your entry rules down in a written trading plan, consistent trading is all but impossible 
RenaLa, you can see an almost identical situation on the USDJPY H4
That trade is on hold from the M15 Stoch at this very moment.
but, would you look for a short entry if 15m stoch turn in the right dirrection ?
i mean ā¦is this one of that long time trades - swing trades ?
Is there a short swing trade there as well? H4 top band tagged, daily down.
This would have given me a 10 pip better entry. I will try it next time.
Yes. USDJPY daily and weekly charts are down. Waiting on a valid H4 down CBL. Held off by M15 Stoch right now. If a new high extreme on H4 is set before the M15 hold is released, then we start over. If the M15 Stoch turns down, the trade is only slightly questionable because of having to use the cut the extreme in half rule. I donāt like that rule, but itās in my trade plan today. First time I get burned by it, I may delete it. So, trade at your discretion and protect yourself at all times.
No, the AUDNZD trade is a possible up position trade off the daily chart. The H4 tag up is in a BB Walk up, a no trade zone.
The weekly is kinda flat, but has bounced off the bottom bb and headed up at the moment. Best way to quick judge these kinda flat trends is look from the far left to the far right of the chart and see if itās up or down. Itās still kinda flat with latest move a bull candle, but mostly flat.
So then you look to the time frame above and below. Above is monthly and itās up. Below is H4 and itās up. So we are good on time frames to go up on daily.
So all we need is a good daily chart up CBL and a good M15 Stoch filter signal to enter up. Looks like good CBL up entry at 1.2468. I 'm thinking of setting a stop buy at that point. What do you think?
This long term position trade should be set to enter at 1.2468
These trades usually run weeks to months.
Breaking the neckline of the EURUSD H4 head and shoulders now.
Took this trade on valid Up CBL.
Just waiting for it to stop falling to enter,now at 1,2420.
LOL, yes, better wait now. Just as my stop buy executed, it turned and dropped like a rock.
Well, that worked out well. Exited audnzd buy on a bad entry call with 30 pip loss. Exited aud sells with 80 pip profit, then re-entered Audnzd buy and let it run overnight for another 55 pip profit. Just letting audnzd run now. These position trades off the daily chart are a little harder to gain entry to, but pay well over a long enough period. I would have avoided the bad entry had I not entered against the 1H stoch.
This long audnzd trade had me a little concerned since the TF above (weeky) wasnāt in as clear a trend as Iād like to see, but allās well that ends well. Iāll put a 2nd lot on if it gets up 100 pips. Weāll see.
Hello Graviton!
I wanted to ask you a couple of questions: The first one is how many hours a day you spend in front of the computer trading? And the second, what are the hours where you find most opportunities to trade? I ask you this because from my little experience iĀ“ve found that when the most important markets overlap i make better trades. That would be from 2am to 4am Est, and from 8am to 12pm EST. Do prices tend to behave less random during periods of more liquidity?
thank you! 
Hereās a little indicator that checks Gravitonās trade filters. It determines the trend on the next higher time frame, and checks the Stochastic M15.
Graviton Trade Filters.zip (1.46 KB)
Thanks NB thatās a cool little thing to have.
Hi guys, i have a qns.
As graviton has mentioned, to position or swing trade we are looking at a higher TF charts like 4hr daily weekly. Suppose a pair is in a downtrend channel and it retraces OUT of the channel, meaning a slight uptrend.
Thus we would draw a trend line indicating the retracement, qns is when do we enter again. After the trendline is broken, or after it breaks back into the channel? Thanks.
Good question. If you get a valid CBL to re-enter then take that, as that is always good odds. Many times you wonāt find a valid CBL though, even on a lower TF, to give you a signal to re-enter. So look at it like this, every good long sustained trend will have many retracements but only one actual trend reversal. If you have, say 5 retracements in any good sustained trend and only one reversal, your odds are 5 to 1 if you re-enter on the break of the retracement trend line that you will win. 5 to 1 are good odds, but you still want to protect yourself in case it is the 1 time that will turn out to be a reversal.
But if price then quickly reverses back up across the retracement trend line and away from the down trend channel, youāll exit again and youāre kinda stuck with a whipsaw loss. Only allow one whipsaw loss per situation, never more. If you take a whipsaw loss in this situation it probably means there is consolidation going on and in that case there could be many reversals back and forth. Best to go trade something else and come back after lunch or a good nightās sleep. You should make that a rule in your trade plan, only allow one whipsaw loss per situation, no more.
I spend lots of time in front of the computer, but most of the time is studying charts and trading methods or managing other business. Since most of my trades are taken off longer term charts and are arranged in advance with buy and sell stop entries SL, TP and trailing stops in advance, I can be away from the computer for hours at a time with no effect on my trading. Iāll let daily chart position trades run even if Iām to be away for days, but Iāll usually close 4H chart swing trades if Iām going to be away for days. That rarely happens though since I have a laptop with mobile connect card, so I can usually manage to check on my trades at least a few times a day, and thatās really enough. Overtrading is a bigger problem in these longer term trades than not checking on them enough.
My best trading hours are usually the most liquid, when both London and NY are both trading, but I find trades in all sessions. As summer approaches and liquidity dries up a bit, these early morning hours (for me) seem to be better and the lazy slow afternoons seem to offer fewer opportunities. Thatās just my impression.
Thanks NB! Is your bot back online?