No problem! Here's an easy solution print out or write down and labeled it my hall of shame list (those mistakes you keep making) and stick it right next to your screen. Before making any trading decision, read it aloud and tell yourself, 'Not today, mistakes! Not this time!'
this way you are training your mind to take smart decisions...
What version are you using that is an XAUUSD chart?Vakarox wrote: Wed Dec 11, 2024 11:38 pm You have helped me a lot as well, thank you.
Following what you see on this chart:
Can you confirm that if I need to trade in the direction of the blue arrow square, I must wait for the following sequence to appear:
1. The blue arrow
2. The large blue DOT
3. The small dot
This way, I can start trading in the right direction...
We no longer pay attention to the previously appeared red arrow square?
Thank you in advance!
No, I made a mistake about one point from the very beginning.
Hello everyone, I really have a problem with the square and arrow system.Curioso wrote: Sun May 05, 2024 7:20 pm Hello everyone,
For today the markets is close but is a great opportunity to observe in real time BTCUSD in M15.
#1. BigSema :: Identify the Major Trend for sell, so we are looking a trend for Sell if applies
#2. 1st MiniDot :: wait, because the trend line continues on blue
#3. 3rd MiniDot :: wait, because the trend line continues on blue
#4. 2nd MiniDot :: wait, because the trend line continues on blue
#5. 4th MiniDot :: wait, because the trend line continues on blue. Maybe is a good entry, but we are looking for a continues trend, so we wait
#6. 1st Dot Colored in opposite direction, if we (i preferred not) entered on that one, we wait in cyan or opposite color
#7. Signal on Moving Average for UP, but we wait
#8. 1st MiniDot after Dot Colored in opposite direction
#9. DailyOpen we the trend is bellow
#10. ADR level, observe with caution the Painel1 the level before your decisions, so >+15% for valid entry for buy or <-15% for valid entry for sell
#11. Background continues on red
#12. Attention to the spike (optional), for this case is only one more confirmation about your trend.
Remember, pay attention on close candle, because when formation of candle maybe you see the color change.
I hope you enjoy, and this way i see charts with XARD (and exists another´s ways to see and enter) and is not necessary switch between TFs in my opinion.
Before asking, this is the latest template post1295538535.html#p1295538535, it continues clean chart, and attached that one there a tips shared too by XARD.
Don´t be greedy, and if you continue with doubts or questions, share with us.
looks good, could you share? Thanks!
Thank you Xard. Can anyone help with the background color indicator? Thanks in advancexard777 wrote: Fri Nov 22, 2024 1:06 am Specific Insights from 30-Minute and 5-Minute Intra-Day Views
Intra-day trading with specific focus on 30-minute (30M) and 5-minute (5M) charts can significantly enhance your trading strategy. Here's a detailed look at how these time frames can be utilized:
### 30-Minute Time Frame (30M):
**Purpose:**
- **Trend Confirmation:** The 30M chart serves as an intermediate time frame that helps confirm trends observed on daily or weekly charts while providing more detail than hourly charts.
- **Intraday Structure:** It's excellent for spotting the intraday trend, key support, and resistance levels that might not be visible on shorter time frames.
**Usage:**
- **Trend Identification:** Use this frame to determine the overall direction of the market for the day. Look for trend continuation patterns like higher highs and lower lows, or reversal patterns if the trend seems to be losing momentum.
- **Swing Trading:** Ideal for identifying swing points where the price might reverse for a few hours or the rest of the day. You can use this for setting up trades that aim to capture these swings.
- **Confirmation of Breakouts:** If you're considering a trade based on a 5M breakout, the 30M chart can confirm if this breakout has significance in the context of the day's trading range or if it's just noise.
- **Volatility Assessment:** The 30M chart can help gauge the volatility of the session. Wide ranges in this time frame might suggest a volatile market, prompting adjustments in trade size or risk management.
### 5-Minute Time Frame (5M):
**Purpose:**
- **Entry and Exit Points:** The 5M chart is perfect for pinpointing exact entry and exit points due to its sensitivity to price movements.
- **Immediate Price Action:** It captures the most immediate market sentiment, ideal for scalping or very short-term trades.
**Usage:**
- **Entry/Exit Strategy:** After identifying a trend or a potential reversal on the 30M chart, use the 5M chart to enter at optimal points, like after a minor pullback or the breakout of a small consolidation pattern.
- **Scalping:** For those looking to make quick profits from small price movements, the 5M chart allows for rapid decision-making based on price action or volume spikes.
- **Order Flow:** This shorter time frame can better reflect real-time order flow, showing where large orders might be placed, influencing short-term price direction.
- **Confirming Moves:** If a trade setup looks promising on the 30M chart, the 5M can confirm whether the price is still respecting the trend or if there's immediate resistance or support that wasn't clear on the larger frame.
**Indicators and Patterns:**
- Candlestick patterns for entry signals (like doji, hammer, engulfing patterns).
- RSI or Stochastic Oscillator for overbought/oversold conditions, offering potential reversal signals.
### Combining 30M and 5M Views:
- **Synchronization:** Look for patterns or signals that align across both time frames. For example, a breakout on the 5M chart that's supported by the trend on the 30M chart increases the probability of a successful trade.
- **Risk Management:** Use the 30M for setting wider stop-losses aligned with key levels, while the 5M might offer opportunities to tighten stops as the trade moves in your favor.
- **Adaptation:** If the 30M chart shows a trend weakening but the 5M still shows strong momentum, you might stay in the trade longer for potential trend continuation or prepare for a reversal.
By integrating both the 30-minute and 5-minute time frames, traders can balance the need for trend identification and confirmation with the precision required for entry and exit points, leading to a more robust trading approach.
Xard777
NB I understand that it might seem like I'm reiterating points I've made in posts before, but I do this deliberately to emphasize key ideas. Sometimes, repeating myself is essential for ensuring that my message is fully understood.
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