The attached picture is from / around the release of 15/01/2022 with some own notes on it (Start, A, mid, B, C and yellow arrows are mine, rest is XARD's notes). It is very similar to your M15 GBPJPY chart.
I fully agree with what Skyold wrote. Look first at your higher timeframe for direction,
My implementation of XARD's system is as follows: talking about the 15/01/2022 picture attached - let us suppose that the higher timeframe was pointing down (I have no saved picture of that), my 2 entries would be at the yellow arrows after candle changes colour. Points A, B and C are 2nd dots to the "Start". I wouldn't open a position at point C onwards, only at points A and B (call it conservative), On opening at A, SL would be just above A. At the first blue candle after A, I would search for a consolidation point (here at mid) to move the SL. If none was there I would move the SL at profitable level on the high of the 3rd pink candle after A. On opening the 2nd trade at B my SL for both would be just above B, At the change of candle to pink after C, I would move SL just above C and so on for each 2nd dot thereon. And let the trade run as long as it goes.
I keep this picture on my desktop for reference. My trading is on M1 using M5 as the higher timeframe. I close overnight to avoid swap and surprises.
I hope you can relate to my understanding and use it to your benefit.
samxtrader wrote: ↑
Mon Aug 08, 2022 3:51 am
This is the 3rd time ive posted this , just needed a little help off Xard , but it looks xards not been online for some time.
Is there anyone else who could answer these questions below the chart ??? Much appreciated , ive waited sometime for this?