The Weekly Triangle
Triangles are usually continuation chart patterns of the prior trend and in our case the downtrend. There are two facts that reinforce the resolve of the triangle to the downside. Firstly, the Monthly downtrend and secondly, the plethora of unconfirmed supports below the triangle, acting as magnetic fields.
See also the potential triangle target.
The FCL
In no way we can ignore the close distance of the FCL as a weakness of the Daily BEOC. The conservative approach to trade the BEOC is not appropriate for this situation. Consequently, we decided to trade it aggressively (see the touch trade level below) reducing our risk exposure to only 45 pips.
Furthermore, the touch trade level wasn’t selected randomly. It is a secondary unconfirmed Daily resistance (see 2nd chart below).
Trade Plan
See the details on the trade position size calculator. Also, see the predetermine targets on the chart below. SL will be moved at entry as soon as price fill the first target.
SELL LIMIT REMOVED
Price didn’t retrace the BEOC but she directly broke the low of the setup.
Touch Trade
This level return back to our watch-list. We will add the downtrend TL on the confluence of resistance levels. We will attempt a TT of 0.2L with SL 60 pips above. FCL is the UNC WS @ 0.9711 thus our 1st TP level for half of the position 9 pips above. We will trail the stop for the remaining position.
See trade position size calculator for the details.
Profit Vs. Time
I see your picture very blur . If you can upload them to “imgur . com” will better than for we dicussion ^^!
Max
I am currently posting live trades in this forum until I achieve a capital growth of 10%. I also posted some of the SPA documentation material which I know is not enough therefore if you want to learn more PM me.
excuse me but i don’t have 20 posts so i cannot send pm, could you please share your email in your profile/about me column?
Thanks!
sailormmon,
You can email me.
no i cannot, when i try to email you, i get this message
"To be able to send e-mails to other users your post count must be 20 or greater.
You currently have 5 posts. "
Then post your email and I will email you.
Patiently, we wait for the buyers’ footprints at the levels:
See at the 1st chart the 1.60108 level: CFL of UNC WS + D1 EMA20 + BRN + FIB 38.2% RET
See at the 2nd chart the 1.57033 level: CFL of UNC MS + UNC WS + MBRN + TL + FIB 61.8% RET
Top Down Analysis Due To The Higher Command
At this stage, it is essential to understand the importance and power of time frames. Time frames are the “workspace” through which we will extract our trading decisions. The particular choice of time frames used, represents our “comfort area”.
Traders must comprehend the “higher command” where each time frame is governed or “controlled” by the next higher time frame. SPA workspace is the daily which is controlled by the weekly and the weekly is governed by the highest time frame of the workspaces set: the monthly.
Each time frame consists of price fluctuations (price action and reaction movements, according to SPA terminology), within which lower magnitude price action movements and reactions can be found. Hence, when you look at the monthly time frame, you can see the mega swings of these price action and reaction movements. Within those mega swings are major swings and these are our weekly swings. Respectively, within the major weekly swings there are the daily minor swings swings and so forth (see last chart attached).
In conclusion, the monthly mega swings control the weekly swings and the weekly major swings govern the daily minor swings.
Top-down analysis due to the “higher command” explained above, is the proper approach when attempting to evaluate a potential trade setup. At the charts below, I identified the mega, major and minor swings where I draw fade color dotted lines different for each time frame. The aqua stands for the monthly mega swings and gold for the weekly major swings. These are my support and resistance levels and I said mine because yours could be (slightly) different due to your broker data feeds.
Simple Trading is a Myth
The quest for simplicity in trading is as elusive as it is essential. Simple trading is probably a misleading marketing tool used by various self-proclaim trading “gurus” in order to manipulate novice and fragile traders into their spider nets.
Without doubt, most traders would value more simplicity in their trading career, but seldom move beyond this simple notion. Even the term “simplicity” can have different meanings to different traders, and the idea of simple trading evokes images such as easy and quick way to trading success.
Moreover, simplicity is not the absence of complexity in trading. Complexity is an integral part of trading. Originality to create the proper trading tools is the force that we as traders can learn to utilize in order to make the complicated simple. In other words, by developing the capability to obtain the appropriate trading tools, you can exceed circumstances. You can embrace the complexity of everyday trading and move through its chaos to the simplicity on the other side of complexity.
Therefore, a trader will integrate trading simplicity and success with the use of a trading strategy which requires a great amount of effort to attain. Don’t be misled, achieving simplicity is not simple.
The desire for simplicity comes from the trading frustration which seems more complex than what we can handle. We learn to trade within complexity. SPA is developed with a framework for integrating vision, reality and action and it is certainly much easier for SPA traders to order trading decisions. The path for SPA traders to achieve their goals is simplified and success is within their reach.
I agree with you, but it is very comlicated to understand your system. You start on first page without to explaine base, fundamental of system. How you can expect to we (novice trader) understant it. It is question how you explaine your system not about siplified of system. And my premise is still KISS for financial trading. Maybe your system is in KISS group too, but just now I am totaly confused about your system or more corect, how you expalin your system.
Cheers mate
Rammar,
The way I decided to start this thread is unconventional and I did that to build trust. Indicating and continue doing so live pre-, intra- and post trades is more powerful than the conventional presentation of the SPA documentation itself.
If you are anxious to study SPA methodology you can always email me but do not overlook or ignore the essence of my writings since I repeat the requirements for “simplicity” are commitment, dedication and hard work.
I see many PA traders discussing the shooting star on GU: Is it trade-able or not? Well, it took only 5 seconds for SPA traders to invalidate the setup. They are watching with patience and waiting until price will show her real intentions.
I have written my answer too, no trade. (You mean GBPJPY W, isn’t it?) We had different path to take those decision, result is same.
