sorry xard but at this point we were buy from me
XARD: Yes, you could exit your SELL trade at the Arrow and re-enter your SELL trade at the next White Dot. For this TF the Direction is DOWN
nice setup, thank you very much.
With your precise explanations, we can leave with a good basis and understand the strategy to take.
I participate with pleasure the strategy of the 2nd white point during the month of February and March.
On which unit of time is the best to go back in business.
I see that with M30 would be safer for a purchase or a sale.
Thank you, God bless you
If we look at Fibonacci Retracement from the Top Semafor to the 1st White Dot we see that PRICE retraces back over the 61.8% and stays below the 78.6 level, this is a perfect Gartley 222 and price should move on DOWN from here.
Someone posted mladen's smoothed average indy in an earlier post so I thought I would see how it looks on the setup.... Nice!
Dear Xard,xard777 wrote: ↑Fri Jan 31, 2020 7:07 amHi everyone,
My apologies for not being on the thread lately but I have been busy trading HK50 during the first couple of hours of opening in the Asia time and trading the Dow during the first couple of hours of it opening in the US time. In between I catch up on sleep.
I know a lot of people like to trade the 4hrs charts but that tends to involve carry trades that I try to stay away from as sooner or later you end up getting caught in some kind of backlash that will be devastating for your account.
Most traders will opt for 1hr trading and very few will look at 1min but I would like to point out that if you make 100 pips on one trade then you have some leeway with your next trade and so on. If we can identify when the market moves then we can close in on potential trades with a high success rate.
Take a look at today's trades during the first couple of hours of the Dow opening bell - marked with an orange box - there was in excess of +500 Pip$ in trades after price had crossed the trend line on the 1min. OK, I am not saying that you will go out and make all these trades each and every day, but the potential to gleam a couple of hundred Pip$ during the first couple of hours of the opening bell is possible. The plus side is that you are in and out of your positions inside two hours - no risk of a carry trade which means you get to sleep like a baby, rested and ready for the next day's trading.
One other thing, watch closely the green/red Semafors for BIAS CHANGE - expect PRICE TO HOLD at the 2nd white Dot off these green/red Semafors followed by a MASSIVE move off the 2nd white Dot (usually towards the next green/red Semafor. This strategy applies to ALL time frames but plays out much quicker on the smaller TFs. - sorry for the rush job with the graphics but my dinner is ready.
IF YOU WANT TO BE 100% SUCCESSFUL WITH YOUR TRADING THEN SIMPLY TRADE OFF THE 2ND WHITE DOT
All the best
You shouldn’t apologize for anything, for living your own life especially after your generous offerings.
Trading strategy: your advice (in bold characters) is the one strategy I settled on: trading pullbacks (countertrend breaks) in trends. According to my investigation this is one of the most (maybe the most) consistent strategy!
I think most of the questioners can settle now (if they can comprehend that the Holy Grail is something like this). And your set-up can be a good tool to identify these spots, when a temporary counter move switches back into the direction of the main trend move.
Timeframe: You are totally spot on many of us would prefer higher timeframes – not because they are better (maybe easier to manage), but they require less time commitment as we also have other pressing activities (maybe later, if trading could totally make up for regular jobs the preference can change rapidly).
But if I understand your remarks well: the 20200130-package can be used on also H1 (or H4), can’t it? Are there any modifications to be made to have a proper set-up for H1?
Exit- leaving too much on the table: maybe you should focus on partial close where you generally close, and let the other half with trailing stop.
Challenge: I try to participate in testing the recent set-up with the ‘2nd white dot’-strategy you announced, though I will be quite busy right from the beginning of February till mid March, that’s why it might be easier for me to use higher timeframe like H1.
MMath-lines: sorry if I'm persistent, but unfortunately they are good for indices, and gold, but labels are still missing for currencies...
(HK50: Hong Kong market opens at 2:30AM for me, sorry, if I settle on others like DAX )
XARD: Yes, the strategy will work fine on H1 however, there will be times when you end up with a carry trade on the 1hr and to be honest I would prefer to be in control of my trading at ALL times and not leave it to chance. Plus, it is much easier and quicker to pick up the 2nd White Dot on the 5 min TF (usually several times during the trading session) and win big on Pip$ that pay out better than your local ATM. By nature we tend to take our profits way too early and watch in awe as the market shows off and continues to carry on without a care in the world (and without us) to new levels. How many times have we been a spectator only to see it run 500, 600, 700 Pip$ without us :-(
I know that Gann and Murrey both used the strategy where they would sell half their position at profit and let the remaining half run.
Well, we can now play it at it's own game by trading off the 2nd White Dot and staying in the trade all the way till it hits the black channel line (Payback is a bitch).
I know a lot of traders prefer to trade within their own timezone but if you make the effort to trade HK you will more than amply be rewarded.
The biggest payouts are from HK open till 10 am London time and yes there are other rewards in the DOW market as well - it is just a big lottery payout that retail traders never ever had before.
All the best
hello ! thank you for sharing this, well may you please share the arrow indicator you used in this TPL . thank you in advance