In most cases that is a bullish trap to catch breakout traders going long after the breakout indeed. Today I am scanning GU because now there is a bullish breakout, but I am expecting a possible turn. In any case I have not seen unfortunatelly a ...

Market Structure Only- keep your charts clean

Yes, you can see it normally from 7:30 to 10:00 UK time and from 8:00 to 11:00 EST time on a daily bases just to mention a couple of standard time intervals. To apply that, if you spot a trade at 8:00 AM UK Time you may be sure it will move till 10 ...

The brutal truth of day trading

Yes, I agree basically that you can trade directionless during the Asian session. In fact you can do it also with the daily range, but the Asian range is normally more stable.

Can anyone figure this strategy out?

Indeed, intraday scalpers do not care about fundamentals in many cases. The only thing you look at are the news releases because of the volatility they cause. Even when I do position trading (I do it with cryptos), I really do not care about ...

The brutal truth of day trading

Any broker offering CFDs won't provide reliable volume amounts. Price expansions depend on volume/liquidity. That is harder to determine, much harder. But it basically implies that the lower the liquidity, the lower the volume required to change ...

The brutal truth of day trading

Trading the m1 and m5 charts you finish your trading day in 1 or 2 hours normally. Then you can be writting on FF or scratching your balls or doing whatever you want to. I think that it is good to limit ourselves to avoid overtrading. One trade ...

The brutal truth of day trading

AB=CD is one of the basic abstract patterns in harmonic trading. It means that after a retracement, price will sometimes continue in the same direction at least the same distance it moved before retracing. For instance, given the two points A and B ...

The brutal truth of day trading

Price must be at the right place doing what it should at the right time. Nothing else, nothing more. An example. If you trade based on volatility, you need to start trading when markets open because all orders are still to be filled and that will ...

The brutal truth of day trading

Hi. Triple or multiple bottoms are not necessarily bullish patterns. That is a fallacy found on most charting books not based on real analysis, but just by repetitive unverified contents copy. See GU H1 and how the current momentum is negative. ...

Cable Update (GBPUSD)

I think that Bitcoin is just one among thousdans of active projects being developed around the blockchain technologies. Most of the governments are already developing innovation and development programs on it too. The future of cryptocurrencies does ...

What about Bitcoin... :)

One of the things I've studied and verified in many different scenarios is that volatility cancels directionality in the long-term. For instance, mathematically speaking, there is a 3% of probability of getting seven candles of the same color on a ...

The brutal truth of day trading

An additional issue is trading with small capitals. If one has 50K initial capital and needs 2.5K monthly net for living, that is difficult to achieve unless you place one or two trades per day minimum. In order to see PA within these time ...

The brutal truth of day trading

Thank you pal. I use these terms to avoid annoying people asking me: "How do you konw this?" "How do you know this is that?" "My dictionary says this word means that and you said it... (but I have no f*** idea about trading, only a dictionary)" ...

Weekly Top-Down Technical Analyses

If you study price as a bidirectional water circuit, now the monthy chart gives you an idea of where is price moving this summer. The water is now running down through the black pipe towards the 1.35 level. image The lower wicks are like ropes ...

Weekly Top-Down Technical Analyses

I also try to spot volume indirectly when/if I need it. However, if one wants direct values, for postition traders you have the furures markets report which is made public on a weekly basis. It helps to understand which will be the dominant forces ...

The brutal truth of day trading

The test failed, completely. I think Tom is wrong. Test result 1 is right, 0 is wrong. image I have checked it over 24 weeks (~6 months) and my database shows that it makes no difference wether Friday trades below Thursday for what it will happen ...

Opening price US30

There is a book, "A Practitioner's Guide to Asset Allocation", with foreword by Harry Markowitz. I think it is one of the best books on porftolio management that revisits all these old theories. You can verify that asset allocation is not as ...

The brutal truth of day trading

Just imagine this is not an EA, but a trader using the same strategy on two different markets: Results on GBPUSD. image Results on EURUSD. image Same configuration. Every parameter is relative to the market, no absolute values for this specific ...

The brutal truth of day trading

Yes, I understand your point. One question I repeat to myself is if cfd brokers that cover a huge portion of the retail trading; if they offset their clients positions in real markets or not. For instance, one of the most important cfd brokers used ...

The brutal truth of day trading

Ok, I will do it only once. From now on, I won't participate anymore in this thread anymore however. image Also this image Level is at local discount area. image The level is at the symmetrical expansion. image All that and more meets there, ...

1M Price Action System