I agree, I am testing the alignment of M30 and H4 signals. If the sub-indicators in H4 are in the opposite direction, there is a strong trend that will ruin the trade.Karl2007 wrote: Sat Dec 23, 2023 5:54 am Hey Karl, thanks for your work for the community. In my experience the HTF provide the most "safe" entries, you still have to avoid some risks, like for example an entry for a long position given to you near a resistance or a short one near a support, but in general it is the safer one. What I have found to be most successful though by trading lower timeframes is finding an entry on the 5 min, this entry normally coincides with a higher TF view (given that we are using htf resistance/support for looking where to enter), if the trade is going well I can go up 1 TF and see if there would be an entry, if it does I stay in my position, and can even de risk it early if I got a good enough position that I believe won't be taken by a pullback.
The other good use for 5 min tf I have found is pullbacks, when in strong trends on higher tf sometimes it is kinda hard to find a good re entry point visually, lower time frames help a little bit with that one.
Just my little grain of sand based on my experience, wanna take advantage of the post by thanking Beatle for his wonderful system, green pips for everyone
It would be worth to check if there is a strong contrary trend in H1 and H4 and avoid any operation.
In the backtesting, I also appreciated that if we get the starting point of a trend in H4, it will get many succesful operations in H30. For it, I have some indicators to see overbuy or oversell situations on a price support/ resistance or trendline. Divergences in RSI or Macd could also help also to detect possible change of direction.
Sometimes I use Fibo to see the level of retracement.
I would like to learn more of Market volume to see if I can use it as and extra confluence but at this moment I am learning how to do it. I know the signals given by Volume profile, but Market profile is different.
I check also lower time frames (in my case M15) to see if an entry signal is well consolidated in it or on the contrary, if there is a consolidated opposite signal and then is time to close the operation.
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Hi,
Well personally for me I find continuation plays as the best setups to take. Easy to find, easy to trade with the best risk to reward and win rate balance.
To trade continuations, the first thing to first find a trend where a trend continuation is likely to occur.
The key to this is to systematically predict what the next candle is likely to do, all you need is a 40 to 60% accuracy. It has to be systematic to remove emotions, so far, I find currency strength and analysis to be the most consistent for this, just to determine pairs likely to trend or like SMB capital would term, "stocks in play".
The best time-frame to combine is Weekly and 30mins. This is why I love the BEATSV5 CONCEPT so much.
Use the weekend when the market is closed to analyse what the next weekly candle is likely to be, either bullish or bearish, you can use any method for this, I prefer currency strength. I just want very high probability plays, is the next candle likely to be bullish or bearish? (Rockz Fx 2 candle theory)
Once I've picked about 4 pairs (usually top two strongest and weakest currencies based on the weekly timeframe), I sit with these for the entire week on the 30mins timeframe with the Beats V5 for Excellent risk to reward.
Then you can add ICT theory Power of 3 or weekly profile to this and this is where the BEATSV5 shines.
I don't trade on Mondays. I expect accumulations to form.
If my bias is bullish.
The low of the week should form on Tuesday or Wednesday London or New York session, this is when I look for A++ entries and I hold to close on Thursday or Friday.
If my bias is bearish
The High of the week should form Tuesday or Wednesday London or New York session. I look for A++ entries and hold till Thursday or Friday.
Then manage your risk.
There are only 4 outcomes with this approach.
1. Everything goes smoothly, Market pulls back gives your sweet entries boom profit. (Clean bullish/bearish Weekly Candle)
2. Market goes in your direction, but no entries (Clean Bullish/Bearish Weekly Candle)
3. Market Consolidates (Here you can have breakevens or small losses or profits. Weekly Indecision or doji candles)
4. Market reverses (Here you're just wrong about the direction and you either have one loss, or no entries at all.)
There is no other outcome and your ability to determine early on which Weekly outcome you're likely to have determines your profitability.
Like Beetle says, enjoy the calm between the trades.
All we now have to do is simply prepare appropriately for each outcome, and manage risk or determine better ways to more accurately predict what the next weekly candle is likely to be and simply follow through.
