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Thread: Almost perfect egy

  1. #11
    Quote Originally Posted by ;
    I want some help with my egy - it is easy and nearly perfect but I still miss something. The major rule is to exchange the higher low or lower after breaking the previous high or low. Here's an example: picture The problem is that trading over the M5 without high timeframes is rather risky and I'd love to prevent dumb losses, but I don't know what might be the signal about the H1 or H4 interval. The ideal option would be a candlestick reversal pattern like doji, pinbar, inverted hammer or something, but still needs a fantastic placement...
    Yes, even lower time frame like M5 is actually unstable! You can try more time frames like H4/D1.

  2. #12
    If you're pulling decent setups for yourself, I think you're doing well,

  3. #13
    Quote Originally Posted by ;
    I want some help with my egy - it's easy and almost great but I still miss something. The major principle is to trade the first higher low or lower after breaking the previous high or low. Here's an example: image The issue is that trading over the M5 without high timeframes is quite risky and I'd like to prevent stupid losses, but I don't understand what could be the signal on the H1 or H4 interval. The ideal option is a candlestick reversal pattern such as doji, pinbar, inverted hammer or something, but still needs a fantastic placement...
    My opinion egy that I use was similar to your egy.
    But I did not rely upon candlestick pattern if using lower TF (H4 below).
    What I'm looking mostly on installment confirmation of the setup.
    With these variables, automatically I can alloe stoploss, entry goal degree.
    This allow me to trade in a fantastic Risk:Reward.
    Entry is your expected level of LH or HL following the fracture of certain degree.

    On your preceding chart I have draw a level of my egy:


    This is the only entrance using the egy:


    Hopes my view helps and yes, im a pullback trader

  4. #14
    Quote Originally Posted by ;
    .... The major rule would be to trade the higher low or low high after breaking the last high or low. ....this egy is very simple and very profitable, but I'm still lacking in certainty...
    Let's see if I can help here. Try considering trading utilizing principles as opposed to rules.
    Rules indie that if A happens then B always follows. Basics simply state that if A happens then B may follow and quite often does.

    The market doesn't respond the same way day after day. That is due to the fact that the market reacts to the actions of the traders watching your currency pair at any given time. While this blend changes, so will the market change.

    Forget about certainty, that's similar to waiting for the ideal trade to appear. If you do this, you will miss it.

    It looks like you need to build yourself some directional and strength egy based on a much longer time frame.
    You state these setups are infrequent. However, if they're profitable, then that's what you need to focus on. young grasshopper.
    Stay from the market till you see these rare occurrences. Then trade until that event disappears.
    Have you ever wondered why a really good day is rarely followed by another good day. That is because the smart money has obtained their profits and are remaining on the sidelines till another rare opportunity seems. Meanwhile people who have lost money are licking their wounds and remaining on the side lines wondering what went wrong.

    Cheers, H

  5. #15
    Quote Originally Posted by ;
    quote I can not because I have an extremely modest account... quote my egy works very great if we have a reversal pattern on the greater stage like H1 or H4 - this can be for instance a pinbar near SR flat or extremely overbought / oversold market, however occasionally it is not enough... here is an example trade from yesterday (a little late entrance ): picture I do not know what kind of filter would be the best for such early entrances, but it should come from the greater TF...
    Hello Freakout,

    Posted the chart,under, in another thread but it is pertinent to what you're doing.

    Hope it helps...

    Take notice of what Batus Post #14 is saying

  6. #16
    Quote Originally Posted by ;
    I want some help with my egy - it's easy and almost great but I still miss something. The major rule is to trade the higher low or lower high after breaking the previous high or lowcost. Here is an example: picture The issue is that trading over the M5 without higher timeframes is rather risky and I'd like to avoid dumb losses, but that I do not know what could be the sign about the H1 or H4 interval. The best option is a candlestick reversal pattern like doji, pinbar, inverted hammer or something, but still wants a fantastic placement...
    Please note that the LOW the LL on the chart will be lesser than

    Thanks.

    I see article 14 - 5 minutes is too tough I reckon

  7. #17

  8. #18
    Hi freakout, if you noticed that this thread, check it. Seems good to you.

    https://forexintuitive.com/cryptocur...plattform.html

  9. #19
    Quote Originally Posted by ;
    quote his indior show fad change too late - my entry is where current MA fad is such as still bullish and price already made a LL/LH chain... indiors are useless in this process - some price action hints will be much better thanks for the help btw
    Alright, loe a price action bar ( looks like you already understand what they are). Wait around for a bar to close beneath the high or low, which is the verifiion window, or signal bar. The final bar is the follow through bar, take a position once the high or low of the confirmation bar is broken. Don't wait for a close, it'll be clear who's in control by the rest of the verifiion window. Set a disaster stop at three SD above or below volatility of the time period of your own choice. This stop should never be hit, btw, it's a black swan stop and price should reverse well before that if the trade doesn't have legs.

  10. #20
    ”Nearly perfect egy” eh? So the Holy Grail might exist? Chase the in the end of the

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