The market range is not finalized until it has valid retracement (in my opinion).
You are reading price but I don’t think you have criteria for qualifying or disqualifying structural points in the market, which is leading you to pick structure that can be ignored. I guess you have to get used to tuning out the noise. A zig zag may help if you have the right settings, but it’s better to draw your own zig zag based on market structure rules.
hello
so after u said that i consider some market noice as external structure ,and with help of zig zag i changed my point of view about market.
for example i was reading the market like this before and i was looking for short position. something like this.
It’s a little more complex than that. Let’s split price going up to left of the dashed line and going down to the right of the dashed line.
I mostly agree with the right side of your upper chart.
The left side of your lower chart is better than the left side of the upper chart.
I’m looking at the behavior of Demand on the way up and it is failing, not getting violated but not convincingly breaking structure.
On the right of the dashed line, Supply is violating all the Demand zones and has a reason to violate the lowest Demand zone where your buy setup is.
You didn’t mark the minor BOS, which is good. I mark it to show that it’s minor because it’s internal to both the retracement and the market range, so I wouldn’t count it as a BOS worth using.
Looking at the Daily time frame, price has broken the trendline
that correct.beside there wasnt any valid choch or breaking any strong demand in 15min.
last week i managed to open up 2 positions.
this one in GBPJPY.
Looking at EURGBP M15, I would have my zones a little different. I would consider this buy to be counter trend on the 15 Minute considering that Supply is in control here.
I don’t use PD Arrays, that’s an ICT concept, which I generally don’t follow.
I do agree with premium and discount pricing. The purple area would be considered discount and the blie area is premium.
You would want to buy at a discount and sell at a premium. So the blue area should be a no-buy zone and the purple area should be a no-sell zone. This no-entry philosophy applies for entries not holding existing trades that have crossed from premium to discount and vice versa.
If you’re an expert trader and are good at trading ranges and transient moves this could be a good candidate. If you’re inexperienced or your strategy is based on trend-following this is a poor candidate.
To echo what Tommor said, this would be good for trading support and resistance.
If you compare AUD to NZD by using USD as a common comparator in the AUDUSD and NZDUSD pairs, you’ll see that they have roughly the same strength against USD. This similar strength translates into AUD and NZD being neutral against each other, or in other words ranging.
For me I would wait for confirmation of a reversal at support or resistance and then go to a lower time frame to enter on a pull back while price travels across the range. There are trends on the lower time frame that can be taken advantage of. On the 1 Hour, after confirmation and price leaves resistance, There is a swing trade opportunity
If you decide to trade ranges, I would avoid entering in the middle of this range and stick to buying at discount/support and selling at premium/resistance.
hello how are u?
hope u doing well.
since you changed my mind about market direction and structure there was a significant chenge in my trading style and my loss rate dropped impressively and i really appreciate it .
but there is a problem. i lost lots of my trades for absolute nothing. for exp the trade didnt open cause of 10 pips then hit the tp,i got stopped out beucase of 5 pips then hit tp,i missed the my tp cause of 7 pips,my stopped has been hunt then i lose a easy 7 R/R.and things like this.
do u have any solution in your mind?
Not sure if I understand you, but it sounds like an issue of where you are placing your TP and SL. There may be an issue of where AND when you are getting into a trade. Are you waiting for a liquidity to be engineered and a Stop Hunt before entering?
Deciding whether to set a TP is never a single question, is it right or wrong? It’s never absolutely wrong, it’s more a question of how good is this tactic?
So your TP is not hit? That just means the trade runs a bit longer. Worst outcome is you exit at entry price for break-even.
