• If price pushes up to and ideally just above our upper trend line and the last part of the move is corrective, then I'll be looking for a risk entry after a phase line break on either the one hour or the fifteen minute chart.
• If price pushes up impulsively to and ideally just above our upper trend line , then I'll be waiting for a convincing push back down below our rayline followed by a tight flag where I'll be looking for a reduced risk entry on the break of the flag.
• If price pushes up to and ideally just above our rayline, then regardless of how price does so I'll be waiting for a convincing push back down followed by a tight flag where I'll be looking for a reduced risk entry on the break of the flag.
• If neither of these setups present themselves then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place any of these trades.
GBP/USD:
• If price pushes up to and ideally just above our upper trend line and the last part of the move is corrective, then I'll be looking for a risk entry after a phase line break on either the one hour or the fifteen minute chart.
• If price pushes up impulsively to and ideally just above our upper trend line , then I'll be waiting for a convincing push back down below our rayline followed by a tight flag where I'll be looking for a reduced risk entry on the break of the flag.
• If price pushes up to and ideally just above our rayline, then regardless of how price does so I'll be waiting for a convincing push back down followed by a tight flag where I'll be looking for a reduced risk entry on the break of the flag.
• If none of these setups present themselves then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place any of these trades.
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"Don't worry about what the markets are going to do; worry about what you will do in response to the markets." - Michael Carr
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“The market is a device for transferring money from the impatient to the patient.” - Warren Buffett
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"Always remain a student. If you forget that, the market will humble you." - FalconFX
For example, what exactly do you mean by this "...and the last part of the move is corrective, then I'll be looking for a risk entry after a phase line..."? How would you explain a corrective move on either of these two charts? What do you mean by a risk entry? What is a phase line?
So, 3 points. :-)
Lastly, as I mentioned in the previous message, how do you finally decide before coming down to the lower time frames that there is more probably going to be a drop or an upward move? I have got your points related to the masses' psychology, traders getting caught on the wrong side of the line/move, an impulsive move, etc.
Remember, these questions are from someone who is mostly a very quick and keen learner! Not to mention I am in love with the way your read/analyze/predict charts!
nadeemenglish
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The corrective move is clear to me now after watching some of your previous videos. It is the move when the price struggles and moves slowly instead of a sharp move in one direction.
StewySongs
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@nadeemenglish, This was fully explained in the video. Feel free to re-watch it.✌️
nadeemenglish
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Hi bro...I have a question...Why do you feel, there will be more likely a drop downwards on this chart? I want to know the reason. Maybe, you can make a separate video on explaining your strategy, the way you predict to yourself first, the likely drop or the surge. If you have already made that kind of a video, plz do let me know. I discovered your work just today, and I am impressed. I love it! I have checked out some more vidz as well by you, but still, I think it would be awesome if you can explain the above mentioned points. I really honestly love your work. No flattery!
So, 3 points. :-)
Lastly, as I mentioned in the previous message, how do you finally decide before coming down to the lower time frames that there is more probably going to be a drop or an upward move? I have got your points related to the masses' psychology, traders getting caught on the wrong side of the line/move, an impulsive move, etc.
Remember, these questions are from someone who is mostly a very quick and keen learner! Not to mention I am in love with the way your read/analyze/predict charts!