Repeat........

Annotations : SL =STOPLOSS E=ENTRY TARGETS : T1,T2,T3, Do not be greedy as Targets.

Steps : 5M CHART

1) Wait for the white line to draw.

2) Use the thick MA line as break out. Enter after candle color change and place SL slightly above/below last semaphore. ( Green candle to red and vice versa)

3) Aim for 1:1 , 1:2 ....T1, T2, T3 whatever you like but please don't be greedy.

Thanks a ton to one and only : XARD.

Regards
SK

If its a range bound day like yesterday aim for 1:1 ...a day like today aim bit more.

This is for people who trade by strict rules.

Always make a note of end of day ADR.

sudhindragk wrote: Tue Feb 15, 2022 9:15 pm If its a range bound day like yesterday aim for 1:1 ...a day like today aim bit more.

This is for people who trade by strict rules.

Always make a note of end of day ADR.

what is a good range for end of day ADR?

renaissance7 wrote: Wed Feb 16, 2022 12:52 am what is a good range for end of day ADR?

There is no good or bad range. Market does what it wants to do.

Generally range expansion leads to range contraction and then range contraction leads to range expansion again.

This cycle repeats most of the times with mathematical precision.

For eg : If you look at my Friday's post we had range expansion. Monday I knew we would be range bound.

Since yesterday we were range bound today I knew we would have a decent expansion.

Do this exercise on weekly ,monthly and daily. You will understand.

When you do this you will never behave like kids.

Remember I have used the word generally...so there is no hard and fast rule.

You can follow this for some sort of guidance.

Again nothing is a strict rule :

If we are at less than 50-60% of daily ADR at end of the day : Anticipate Range Expansion the next day.

If we are at more than 130-150% of daily ADR at end of the day : Anticipate Range contraction the next day.

You need to adjust your take profit and SL accordingly.

Some times to frustrate the hell out of the traders you do get two consecutive days of RE and RC.

That's when you go balls deep !

sudhindragk wrote: Wed Feb 16, 2022 1:17 am You can follow this for some sort of guidance.

Again nothing is a strict rule :

If we are at less than 50-60% of daily ADR at end of the day : Anticipate Range Expansion the next day.

If we are at more than 130-150% of daily ADR at end of the day : Anticipate Range contraction the next day.

You need to adjust your take profit and SL accordingly.

Some times to frustrate the hell out of the traders you do get two consecutive days of RE and RC.

That's when you go balls deep !

thank you for the detailed explanation

I like the fact that even though I tend to miss out on a lot of trades during the course of the trading day (may be because I have been sleeping or out on an errand), the system still allows you to sit down and pick up Pip$ within a matter of minutes simply by waiting and watching for the next opportunity. I like it, it's easy to use and virtually stress free.
Plus, I still have my compound entry bonus to use :-)))
Xard777

xard777 wrote: Wed Feb 16, 2022 5:02 am I like the fact that even though I tend to miss out on a lot of trades during the course of the trading day (may be because I have been sleeping or out on an errand), the system still allows you to sit down and pick up Pip$ within a matter of minutes simply by waiting and watching for the next opportunity. I like it, it's easy to use and virtually stress free.
Plus, I still have my compound entry bonus to use :-)))
Xard777

In this ....with you....

On the sidelines today - missed out on opportunities from earlier in the day.

xard777 wrote: Wed Feb 16, 2022 5:02 am I like the fact that even though I tend to miss out on a lot of trades during the course of the trading day (may be because I have been sleeping or out on an errand), the system still allows you to sit down and pick up Pip$ within a matter of minutes simply by waiting and watching for the next opportunity. I like it, it's easy to use and virtually stress free.
Plus, I still have my compound entry bonus to use :-)))
Xard777

We look forward to publishing your new work.