Q: I'm a bit confused on the whole weekly planning thing.
Do you have some background on why you plan even though you've mentioned you'd trade based upon the TF only?
Is there an introduction on your weekly planning system and why you do it?
The H4 planning charts are actually stand alone trading charts that give you the basic information you need to trade a pair during the week on H4
So the term planning refers to the trades to be taken on these charts during the week
NOW, you can also use these charts to enter H1 trades only in the direction of the H4 charts. That will give you a higher % of accuracy. H1 charts are also stand alone trading charts
SO, you can eiter use these charts together or use each of them totally independently of each other
Also, Please do not forget to like the log as well as my charts if you find them useful
My question is how did you determine your buy zones?
The fact that price in fact touched off the zone shows the validness of them. I interpret that the need to actually enter the zone must fit a criteria with higher probability results? Or is it more based off R:R ratio?
You can find some slides in my educational material that address both the psychology as well as the zones
My only problem is where to place the entry, stop loss and target using Ichimoku? Is there a rule like the ones used with Fibonnacci for placing entry, stop loss and target?
And if you don't mind answering another question, I've just read your material on Ichimoku on your educational tag, I was wondering, how do you trade when the price is away (by a lot) from the Cloud and the KS (even when the KS is not flat) ?
As for the targets, well that varies according to the type of market that you are in. So no generic answer here
That is a sign of a tending move .. when price moves away (by a lot from KS)
So I just hold my position until the move is finished
wondering when is the good time to exit a trade in profit ? u can set up 'tp and 'sl and go away, but i dont like.
for example in this trade (i dont like the 15 min) :
i should exit my position with the first 2 doji (first red arrow), but later as u see it went to target (forget about sl).
i have in mind this exit techniques:
- when candlestick signal is formed
- when i start having a low momentum candle (small ones)
- go to a lower time frame and exit when a HA doji is formed
i write a lot ....
waiting for your feedback
Then I read you mentioned on another H1 timeframe i believe, you mentioned to place stops on previous close, which i understood as previous bar/previous hour.
I may be misinterpreting you somehow, and I'm sorry.
Are there different type of Stop levels on various setups?
Up to now, i have found that time will not work if it is not something that is agreed upon by mankind as a whole
So .. My smallest time element that I take into consideration with high success is a full day of trading. Maybe in the future i will be able to design methods to take smaller elements into consideration but until now it is at least a day
So any signal during a day regardless where it comes from is valid...
As for volume, I do not use it due to its unavailability. I use momentum instead which can open the window on the same information but from another perspective
Also, when TS/KS are flat on top of each other, that is not a very nice place to be. It is a sign of no momentum.
As for CS, I use it for setups, for trend strength, for market structure and for clarity
Do you have specific names or descriptions for each of your setups that you have taught thus far? And if so, can you give me a list of just the names please? I want to consolidate the setups into a list so I can specifically memorize them better. Lots of educational material, and I love it!
I know when and where to buy/sell but what does the CS have to show in order to know its a vaild trade?
I'm a bit confused because i'm observing your entries and its showing typically not much trend based upon CS vs candles
2. For trading CS has to have a positive trend strength
3. My entries are usually retracement entries. During retracements, you have to expect a very low trend value. That is normal. If I wanted to trade breakouts, I would look for higher numbers
I know that soon or later your patience will finish: please tell me a little bit earlier and I'll stop to bother you.
maybe you could prepare small dictionary like " How I trend trade...". In one place would be many useful terms. Easily could be supplemented when some body would ask for new word or symbol. I can imagine how it is boring for you and other experiend followers to explain the same again and again.