icman wrote: Mon Aug 01, 2022 4:49 pm Can someone please explain why this setup did not work?
I waited for the second spike dot and RSI was below.

Thank you

Bro, trading is a probability. Not every setup works, it's just the way it goes. It gets all of us which is why money management is so important.

Keep practicing and it will work out over time. The system does work, but you need practice.

Castle73 wrote: Tue Aug 02, 2022 2:30 am Bro, trading is a probability. Not every setup works, it's just the way it goes. It gets all of us which is why money management is so important.

Keep practicing and it will work out over time. The system does work, but you need practice.

I did not ask about how trading works.
I did not ask about probabilities.
I just asked about that specific setup. I asked if there was something wrong with my entry.
I you don't have anything good to say, don't speak at all.

icman wrote: Mon Aug 01, 2022 4:49 pm Can someone please explain why this setup did not work?
I waited for the second spike dot and RSI was below.

Thank you

I think the problem is you are too much focused on indicators and forgot to watch price action. Xard will tell you the same story: wait for the move and enter on the retrace there are a lot of variations but concept is the same also here. Your short entry is a retrace down in an upmove; previous move was clearly UP. Conclusion: there is no reason to sell here; for a short wait when price is clearly going down-wait for a solid entry hope this helps best M.

icman wrote: Tue Aug 02, 2022 4:21 am I did not ask about how trading works.
I did not ask about probabilities.
I just asked about that specific setup. I asked if there was something wrong with my entry.
I you don't have anything good to say, don't speak at all.

He tried giving you a good answer to your question, but it's seems you are Rude.

icman wrote: Mon Aug 01, 2022 4:49 pm Can someone please explain why this setup did not work?
I waited for the second spike dot and RSI was below.

Thank you

I don't want to answer this, because I have seen you are a Rude human being, and I believe Xard won't want to answer it because he has given us everything along with the system. Have you tried Reading the market structure he placed inside the indicator? Well, the setup is not that all wrong, it's just a retracement, which if u are patient, it MIGHT reverse back to continue with the trend, though it might come with a drawdown. Try read the ebook l, understand it, then read it several times.

Meyney wrote: Tue Aug 02, 2022 4:37 am I think the problem is you are too much focused on indicators and forgot to watch price action. Xard will tell you the same story: wait for the move and enter on the retrace there are a lot of variations but concept is the same also here. Your short entry is a retrace down in an upmove; previous move was clearly UP. Conclusion: there is no reason to sell here; for a short wait when price is clearly going down-wait for a solid entry hope this helps best M.

Solid advice here, Thanks Meyney

My 2 cents, trying to be specific. In relation to what xard has shown your setup is incomplete.
Which is the higher timeframe you are using along with the 1m timeframe, and what was the situation there at the time you took the trade?
If it was the 5m timeframe, round 09:00 to 09:25, the rsi was above 50 and there was no pink candle and also the fast MA was above the slow MA, so why would you take a short?

And your response below was not the most appropriate in my opinion. Please try to be a little more appreciative of the people trying to help you.

icman wrote: Tue Aug 02, 2022 4:21 am I did not ask about how trading works.
I did not ask about probabilities.
I just asked about that specific setup. I asked if there was something wrong with my entry.
I you don't have anything good to say, don't speak at all.

Meyney wrote: Tue Aug 02, 2022 4:37 am I think the problem is you are too much focused on indicators and forgot to watch price action. Xard will tell you the same story: wait for the move and enter on the retrace there are a lot of variations but concept is the same also here. Your short entry is a retrace down in an upmove; previous move was clearly UP. Conclusion: there is no reason to sell here; for a short wait when price is clearly going down-wait for a solid entry hope this helps best M.

like XARD said, analysis using multi time frame, then you will see more clearly

8*8

Mr Xard can you please help, my questions are on the enclosed chart you posted for possible entries earlier ?

Very Much Appreciated
Thanks