Note to self: when playing certain levels, stop goes above or below the block at the first touch, only when it takes out a high into the block + breakdown you can put it above a high or low, not before.
Screwed myself over 2x this week due to this and missed most of cable, meh
Also goes to show that there’s plenty of time to get onboard on these GBP setups when it starts distributing.. in hindsight hahah.
Then the question is, do I wait for it to always come back up to take stops into such a block, or do I just put my risk behind the block and not be a cunt + compound in the cases that it does?
Conclusion, open up swingtrades based on blocks, smaller tf trades based on local PA.
This is something I’ve been thinking about last few months: how you can review and find setups yourself, preferably high r/r and the idea behind tight stops.
Going to be a long thread.
First off, most of it is derived from other people, mostly ICT’s methods, but the thing is you have to build something that works for you based on what works for you.
I’ll go through what I derived from it below.
From what I experienced, shooting for high R/R can be nice but you have to be really really realistic with yourself and more specific for the trades you’re taking. Stupid stuff is possible but only if everything lines up.
Shared this with @__BTC3P0__ in the discord.. +23R while I was on holiday this weekend, gg.
Ok, first of all, I’m not here to brag or show off, I want to share about how I’m making full time trading work for the longer term, which things I ran into, how it should change you as a person and how the markets will keep on slapping you in the face if you don’t face yourself.
will close the rest if LO pushes it above the low again now.
tfw you close too early and get stopped out right after, whoops.
note to self, trail stops of remainders to -OB's above and wait for some impulse to occur before buying a retrace for upside.. fuq, for some reason I rushed muh London session due to it being on this daily breaker.
Honestly ... I follow you every day but right now nobody gives a shit BTC, everyone is talking about TRX and it will continue that way during 2019, in December maybe nobody remembers Bitcoin.
There's only 2 zones left capping price now imo.. if one of those on the 10min chart give in I'd expect continuation in that direction.
10m chart being held in the same way as the 1h to the upside, found those always being respected quite well on bitmex, I mostly play those.
Also note how we haven't broke structure coming from any of these blocks and how the consolidation is being held by those closing in the consolidation.. block used to break highs, dumps below, used for selling after and vice versa.
$dxy about to top out here or nah? maybe a bit early since it would leave that top on the left in but we'll see.. eurusd has been consolidating for weeks, was waiting for this liq to be taken.
opened half a long on $eurusd here, will add if we get above the black line again.
from 2 days ago.. been consolidating for weeks but failed to make a lower low thus far, if this zone can push it above again I'm assuming it was just a run on liquidity since otherwise it'd be more likely to stay below.
help me out here NY pls.
If grey on the 2h chart above breaks it looks pretty game over for eurusd, so from a r/r perspective this would be max opportunity for longs.. break below / retest would be a short for mitigating the loss for me.
Not much confirmation yet tho, could be dumb catching half here.
some ideas and similar patterns.. hey look its Koning again with the 1 min charts.
Just some thinking about entries.
also note this very last wick into the grey box and the volume on it.. I don't know, I'm not long btc yet but for some reason I'm not feeling too bad about everything, three drives into support, lots of alts capitulating and not much of a bounce yet + my last tweets
just waiting this out, if it breaks the lows the play is clear anyways, and if it actually does break upwards there's always time to get on board since its going to be a pretty big move then anyways.. interesting times, no real way to tell for sure yet.