Never Lose Again

[dragon33]

PTG,

Thanks for your detailed explanation!!

As you'll expect I have a question:

In the H1 chart, you draw a horizontal line through the body center of the first H1 candle in the stop and reverse H4 candle.
I though it should be drawn through the body center of the closed H4 candle.
What's your opinion?

Cheers

Francisco

anyone get on that train

that was a gift from the banks

me choochoo too

This, imho, is a very clear example of a Dragon-trade based on
1) a stop-and-reverse on H4 (that is to say on Alpari server time..)
2) after the H4 reverse candle closed, switching back to H1 -> M5, the beauty is right before your eyes, ready to be undressed etc. etc.

Almost makes you blind, sooo nice..

Hello PTG,

Can you post the H4 chart mentioned?

That will help me to see... I hope

Cheers

Francisco

Sure, here goes:







All it takes is patience for the H4 to stop and reverse !

Once you're in a trade, target the next H1 MZ whilst monitoring the price action, then take profit and re-enter in the same direction at a better price.

In the case shown I would only trade LONG until the next H4 reversal, only then reconsider trading direction. Has something to do with rats, monkeys and parrots

Hope this helps !

PTG Thanks for your detailed explanation!!

As you'll expect I have sa question:

You draw a horizontal line through the body center of the first H1 candle in the stop and reverse H4 candle. I though it should be drawn through the body center of the closed H4 candle. What's your opinion?

Cheers

Francisco

Why not drawing them on every candle!

For what do we look?

We look for possible reverals on higher frames, right! What if price come back to and H1 50% area while the H4 is not closed yet!
Do you want to miss that trade?

Why is ES/PIP making small any many trades! Yes because he is able to catch momo when while it is forming!

Just start drawing and observing!

[dragon33]

Anyone know why this ZL trade never worked out yesterday?

You gotta be kidding???

[TheRumpledOne]

Why did you lose?

WHAT IS THE #1 RULE OF THUMB?

[adaseb]

Why did you lose?

WHAT IS THE #1 RULE OF THUMB?

Trading against the H1 candle?

But that was the H1 candle, I was hoping it would wick and go down.

[es/pip]

Anyone know why this ZL trade never worked out yesterday?

some work some don't

that's why you have to trade discretionary

i didn't trade short there bec the market was going up, if you look inside there was no reason to short it there

if a person did take that short there were ample opportunity to get out with a small loss or at be

how many pips did you lose on it?

the trade was long into it and then long again above it

small losers and big winners

[es/pip]

double time

[MightyOne]

Anyone know why this ZL trade never worked out yesterday?

First thing I want to say is that I hope you have thick skin because responses can sometimes be quite aggressive...
Some thing about making money turns people into a-holes (I know first hand )

Momentum is not a 2x candle

A lot of times a 2x candle will indeed be momentum (not counting after doji) and that is why that rule was created.

There are more detailed examples on how to look for momentum in some of my latest posts.

[MightyOne]

Here is how you would trade that section of the chart with basic triangles:

[lukx]

MO is there any chance you could one day explain how and based on what you place those triangles (and those other small lines) ?

[adaseb]

Ok everybody.

Thanks for your replies on my pic.

I appreciate it.