u wot m8? yes ofcourse i look at the H1. I also look at weekly, daily and H4 but only for support/resistance and trendlines. I mark major S/R on weekly and daily, minor S/R on H4 and H1 as well as trendlines mainly on the H4 but also sometimes on the H1. I only really draw fibs if the price move was clean enough to warrant a proper fib drawing, otherwise i feel there is too much subjectivity in placing the top/bottom.
For me; the EU was coming to a minor S/R plus trendline confluence on the H1/H4. I saw the price react and volume too. The volume was by no means high or climactic but there was an increase and because we are already in a downtrend i dont really give a **** if it is climactic or not. Went down to M5 and it looked like a clean setup was forming so i wouldve taken that short had i been looking at the chart, unfortunately i was too busy mirring the UJ and missed that first push through. Although, price did come back to allow for a second entry i wasânt up for it for some reason. I was in the UJ and still am, so wanted to manage that properly. Iâm not pro bro enough to be doing too much at once!
P.S. i am ultimately a noob, so take everything i say with a truckload of salt.
Hey Pete i wanted to ask a question that i dont believe has been directly covered or maybe i dont recall it but;
you know how we mainly trade between 8am - 16pm GMT, what if we have volumes and price action starting a move around 5am or 6am, but the setup does not play out and provide an entry until, say, 9am. Whats the protocol here? is the trade still a valid one to take? or should we be waiting for all setups to start and finish within the 8am-4pm time frame? i.e. are the volumes and price actions, occurring during off hours, considered valid for a trade that you may take in the hours 8-16 ?
I do consider the early action as giving a tip off as to what SM is planning, but I do need a fresh proper setup at the right times if Iâm going to enter. If it all lines up then I know that the past action is helping my probability. Itâs nice to see a plan, and that they are sticking to it.
These types of articles seem to come out 3-5 times a year and I just LOVE them. It just confirms everything that we do guys. We should be proud of ourselves; we are like the Robin Hoods of the FX market Although Iâm no longer poor, thanks to your footprints smart money⌠lol
The funny thing is, I already read on another website where someone said âI bet they wonât try that again.â HA! Are you kidding me?? That is ALL they do! They do this day after day after day. And it wouldnât matter if they got caught every month; theyâd STILL be profitable. Smart Money will always be active and while the herd doesnât know, or doesnât care to recognize that, weâve got all the information we need RIGHT HERE.
Smart Money is like Ceasarâs Palace and we are the Dustin Hoffmans of the tables. Or maybe those really smart MIT kids from that movie 21 â that way we donât have the weird obsession with KMart or Peopleâs Court
There are no entries here to critique. Seems like youâve taken part of the method as the entire method. If you are truly following, you will focus on the 1hr and 5min highlighting background and marking up the chart showing all the reasons for entry such as Stopping Volume, AR, NS etcâŚ
HA! Those are all THE largest banks in the world. What a show. Iâm thinking itâs not a fine as much as it is a payoff so they can keep doing what theyâre doing. Itâs interesting to see the chats between traders. Coordinating their trades is referred to as a âteam whackâ LOL. Cue the politicians to bring up the the fact that banks take on too much risk by trading their capital. Theyâll say we need new laws that Banks and trading houses cannot be one. But guess what? It never happens and it never will. Politicians donât tell bankers what to do, itâs the other way around.
This actually seems veryâŚamateur. If they wanted to do this right they would coordinate with software using encrypted language. Hmmm, they probably do.
Sorry just a slip. It was late and I had been staring at the charts for quite a few hours lol⌠My analysis was based on the EURGBP. Would my analysis be correct?
Sorry been away a couple days, busy weeks. reviewing the week i saw some beautiful setups on lots of pairs. Lovely setups on AU a few days during the weeks. Price action looks so clean. Thank you Pete for showing us this beautiful method.
Although Iâm no longer poor, thanks to your footprints smart money⌠lol
