Hi Sharebazar,
Thanks for your explaination. I somehow got the idea. Now need to practice more to fully grasp the whole concept.
Sorry I have 1 more question. So how often do we need to change the daily SnR line, normally I would plot out those lines on weekends, and never change during the weekdays(trading days). Is it advisable this way or do I have to change and adjust daily according to the days high & day low?
Thanks again…
I read the first couple pages of this thread. The OP stated that he doesn’t use stop losses and risks 10-30% per trade. wow. WOW. That was enough for me to realize that he’s as far from being a trader as Oprah is from being a playmate. 
how did this thread get to be so big ? :33:
Last week I made 5 trades (2 win , 2 loss, 1 be) for +22 pip gain. RR was around 1:2. Not much profit, but I am still learning and these are all demo trades. Don’t have the heart to go live (Finished reading the thread couple of weeks back). Lot to test.
My analysis for the week
chf jpy
Bias :
M1 Up, W1 Up, D1 down
Price just resisted the weekly SR @ 115.03
I might not be awake to trade this. So entered a sell limit pending @ 114.96, sl @ 115.06 (based on H1 TF)
I am going against the bias, because the price is resisting the W TF (I think)
Hoping to go short
eug gbp
Bias:
M1 Up, W1 Up, D1 up
Price broker through W resistance @ 0.7975.
Waiting for a retrace (BPC to form) to enter. Price is too close to my W SR, so cannot enter a pending trade.
Hoping to go long on this pair this week.
gbp chf
Boas:
M1 down, W1 down, D1 down
My D SR is @ 1.5130
Looking to Short if price breaks through the D SR
nzd usd
Bias:
M1 down, W1 down, D1 down
Price broke through D SR @ 0.8140
Looking for BPC to go Short
usd cad
Bias:
M1 Up, W1 Up, D1 up
Looking to go short if price retraces to my D sr @ 1.1039 or break through 1.1154
Appreciate your comments on this.
Sorry your analysis is confusing me as regards previous months and weeks been up and down my charts are showing different , just one example euro pound mine has bearish pinbar last month and a bearish candle last week
Monthly for eur gbp in my chart is bullish. It did have a bearish preceding trend, but last month candle was a shooting star/ inverted hammer. So I think this month will be bullish
Weekly : Yes, last week was a bearish candle, but it hit my SR and the preceding trend is bullish
Again this is what I think an I could be 100% wrong. I too am trying to learn and appreciate any comment.
I think I found a classic BPC pattern with usd cad (4H TF)
Yellow lines are my Daily SR levels and solid red are weekly SR. Bias is up in M, W and D
In 4H TF, price broke through then pulled back right onto the D SR and gave me a hammer in 4H TF. My entry is 1.5 hours late, but the market is usually slow at this time. So I entered the trade.
Please let me know if I got this all wrong.
Comments are always welcomed.
Hi donsls your analysis is good and all the bias is also in same direction, but your entry was early for me as I believe you open the position on Monday. Most of the time Monday market is not doing according to the method so we need to very carefully on Monday.
Agreed 100%. My trade went against me and it my SL. Come to think of it, I opened the trade on Monday after 6 p.m.
What a week I had. My freaking vps crashed without warnings and couldn’t trade at all. I hope everyone else mined some pips.
Does anyone know a reliable vps provider?
Hi everyone, hope everybody is doing good, did not get enough time to trade.
Hi Nikita how are you?
I hope this thread is not dead. Following is what I have planned for this week. Please let me know if my analysis is incorrect. Your comments are appreciated.
usd cad
M1 , W1, D1 up
long if price retrace to D1 sr @ 1.1152
nzd usd
M1 , W1 , D1 down
short if price retrace to W1 r @ 0.7902
gbp chf
M1 ,W1 ,D1 up
Long if price retrace to D1 sr @ 1.5372
eur gbp
M1, W1, D1 down
short is price retrace to W1 sr @ 0.7873
chf jpy (No trading)
M1 up, W1 not sure
eur usd
M down, W1 down, D1 down
Short if price retrace to W1 SR @ 1.2750
Nice trade on Demo My best with 186 pips
Hi everyone,
Hope all is doing fine.
I have just gone through reading the posts again and would need some of the seniors to help. How do you guys manage to grab so many pips per trade?
Like Sharebazar, I managed to re-read some of the posts and was always in awe that you and nikita can grab so many pips in 1 go.
For me, everytime I open a position, I can only manage to grab 15-20pips the most. is there anything I can do to improve my trading?
Thanks a lot…
Hi Sharebazar,
Continuing from my questions above, you see, example if I were to open a short position on EU today, how am I suppose to set my TP as there is no other support recently as it has been falling all the way. Is there any guide on setting TP in this kind of circumstances?
Thank you.
Hi Gssg, one thing you can do is to let your profit run. Like as you said EU there is no other near support,suppose you are in the trade move your SL to BE and just watch the market and when you see that price try to retrace for any reason you can take your profit move your SL so you don’t give away too much or you can just trail your stop by 30,40 or 50 pips. I am also not very good at holding the good trade.
Most of the time my entry is at very good price but when ever I see price hit 50 + pips I move my SL and eventually hit my SL and price move further 50-70 pips or more.
For an example today on EA trade.
Price still going down but without me, just managed to get 39 pips. Hit my TS and going down…
Hi Sharebazar,
Thanks for the information. That’s why it pains me so much especially after taking profit, and the market keeps going in your direction without you. Sometimes I am thinking, well at least I am right in my analysis to comfort myself…haha…
Normally how many hours do you have to wait for the price to go your direction?
And I see that your entry is based on 15min, am I right? Is it bcos you can get in at a better price on 15m timeframe? Bcos at times I would also look into 15m, especially during news hour.
Hi Gssg,
I am still learning and trying to hold the trade longer. But only problem with me is my daily routine is very tight can’t get enough time to trade now days. When I get trade I just put the TS that is why most of the time trade closed automatically with less profit.
Another example today on GBP/JPY.
Price move almost 100 pips and I have got only 19 pips. Not acceptable. …
Hi Sharebazar,
Just curious, did u enter this trade based on 15min time frame? I also took on this trade, but I went in at an earlier time 0500 (which form a pin bar on the H1 time frame.)
Do you think it’s a good entry? Or is it a bit too early? Bcos I see that you seem to enter like 5 hours later.
Pls correct me if I am wrong.
Thanks so much…
USD/CAD seems to be ready for a resumption of the move downwards, hitting the support/resistance level as well as the 61.8 retracement level.
Hi Gssg,
Your entry was fine. My entry was bit late.
Only things is matter is valid setup. I was waiting for the confirmation and also for London open.