hy sr player.
i mean this big pink quater on the left side.
What are the settings on the indicator?
steve
hi SR Player is it the trading it waves?
ok i got it its best used in 4h could u simplify how to use it with a chart
Thats the resistance zone that has been activated once a daily low has been broken then once price re-tests the zone it is activated and shaded, non shaded zones have not been activated, take a look at some previous post for an explanation on those zones with this indicator.
hope this helps
Yes thats correct njokie…I also like the ma angle indicator they have. Try that one too.
guys I moved my profit target lower as I think this XAU/USD trade will blast through lower…so far looking great
oh i see u had explained how to use the wave indicator let me try to follow it with this xau/usd trade u are in also if u dont mind could u analyse it as in how u got the wave and waited for retracement and ur entry?
this strategy looks soo promising
njokie let me explain the wave indicator in a much cleaner example off todays earlier GBP/USD that delivered and also had a secondary entry also.
Look at the dynamic move to the upside and simultaneously look at the indicator, note the big peak, this is used to identify the impulsive wave which is normally a wave 3, once the oscillator heads back to zero this tells us that the price is retracing which is normally a wave 4, after this has happened we look at trading LONG off a previous high as support to trade in the direction of the impulsive move, we are now trading wave 5 which in theory should generate a new high as we had in this example here a few hrs ago…
In terms of this being so promising, I can assure you that you will never find a better entry strategy to employ than this…Use the defined direction from the impulsive move and follow that direction and your results will be very promising…Make sure you keep your ratios in your favor, at least 1:3.
SR.
I was a today a litle off the office and could not follow in the day the market as well as your posts. Many thanks to share your strategy it’s becoming much more clear today with all examples and explanations.
By the way, nice move in gold! As far as I understood you post it around the hour you took it… great!
Today I will make later on a revision of the day and if I have more doubts I will put more posts with clear examples and potential trades.
By the way, do you follow the strategy of Sam Sneiden? Is this strategy somehow related to it?
Someone post this reference in a previous thread.
Potential trade on USDCAD if the retracement confirms and comes out from shaded zone.
Can you comment SR?
Hi Psalda
Glad you like the thread…Yes it will come to you slowly but its not a diffucult strategy once you train your eye and recognize the right SR levels to use.
I always do post the trades as I taken so i can be transparent with what I am posting and taking, my trades do have priority than the post, as you can understand.
No never heard of Sam Sneiden, I have been away from this forum for many years and really focus on helping others from the way that I trade as this is what I know.
Yes I like that one, its clean nice and the impulsive move is evident to the downside signifying a wave 3, the retracement has commenced back into a zone to short. I have placed by sell limit order at the top of the zone as you can see in the chart…lets see how she goes, I am heading for a 1:3 ratio…
hy sr player.
i am new on this forum.
On the last picture, the price came back to the blue line,then you make a short trade,is this right?
sorry orf my bad question.
steve
Hi Stevebalmmer
Yes that is right, once it retraces or pullsback into the blue zone you short it in that example…
No apologies needed Steve ask away thats what this thread is all about so everyone can learn…
Gold delivered well as expected from yesterdays short, I have re-entered another short off a level of resistance as I expect GOLD to move lower, we have had an impulsive move lower and with the break of the lows in the blue zone I have waited for the retracement/re-test then entered a SELL…lets see how she goes once again…
i just want to confirm finally SR Player as much as ur posting 5min chart and 1h chart u are still taking the levels in 4h or daily timeframe or weekly?would i be limited in checking levels only in 4h timeframe without switching to weekly and daily i find like i get confused with too many timeframes whats ur advise?
atleast things r sinking i dint know how the wave indicator is important in getting the impulsive move then waiting for a retracement and buying/selling at a retest
ok i understand the impulsive move and the correection am trying to trace the entry and am looking for the retest of the low that triggered ur entry could u post this chart with a line showing the test hence entry to buy?i would be soo glad it will help me understand
Hi SR Player,
One question on the chart: Was the blue Support bar on this chart generated automatically by the “tradingit-SR-Zone” indicator did you manually draw it? The Support and Resistance bars that were generated by the “tradingit-SR-Zone” indicator I download are different than that in your chart.
Also, could you please clarify what settings you choose for “tradingit-SR-Zone” indicator. The default settings are:
SwingDetail: 5
LookBackDays: 50
Thanks a lot!
I got different chart too. I read she draw it manually maybe by paint? If you draw it manually how do you connect the exact points?
guys,
Aproaching an opportunity to short EUR/USD … when retrancement aprocheas the low of sone hours ago.
See 15 min chart!
sell order hit wow i see the importance of not entering a trade too early i was watching the usdcad only to see it hit the previous low and begin to go down