8hr trading method with battle station!
- Thread starter joffie
- Start date
erebus
TFG Forum Legend
Support and Resistance (Barry) is an indicator based on the Fractal candles.
A Fractal High candle is a candle whose high has two lower Highs preceding it, and two lower Highs following it.
Similarly a Fractal Low candle is a candle whose Low has two higher Lows preceding it, and two higher Lows following it.
It will be drawn when 1 candle closed with new lower high or higher low BUT is subject to REPAINT until the fractal is completed by the 2nd closed candle with lower high or higher low.
Best to watch it in action, in real time to fully understand it; also, you will benefit by watching the actual price action.
A Fractal High candle is a candle whose high has two lower Highs preceding it, and two lower Highs following it.
Similarly a Fractal Low candle is a candle whose Low has two higher Lows preceding it, and two higher Lows following it.
It will be drawn when 1 candle closed with new lower high or higher low BUT is subject to REPAINT until the fractal is completed by the 2nd closed candle with lower high or higher low.
Best to watch it in action, in real time to fully understand it; also, you will benefit by watching the actual price action.
Last edited:
erebus
TFG Forum Legend
Hello Joffie & followers,
Great videos Joffie, really good information on how you see the price action. For anyone with more questions, I suggest to watch them more than 2 or 3 times!
Here is a EURUSD chart on Daily which shows one of the setups explained by Joffie, well, I think it does.
My take on it is, price runs up from A to B, retraces back to C - the middle of the Bollinger Bands.
There are Inside Days, the 2nd day is also rejection of the BB middle. Profit Target is the upper resistance level. Stop Loss of only 55 pips approximately is all that is needed.
If the stop was below the support, a higher target would still be made in this example.
So, if I can see this on Daily, surely I hope to see it on 8 hours charts!
Thanks so much Joffie for sharing & caring!
Great videos Joffie, really good information on how you see the price action. For anyone with more questions, I suggest to watch them more than 2 or 3 times!
Here is a EURUSD chart on Daily which shows one of the setups explained by Joffie, well, I think it does.
My take on it is, price runs up from A to B, retraces back to C - the middle of the Bollinger Bands.
There are Inside Days, the 2nd day is also rejection of the BB middle. Profit Target is the upper resistance level. Stop Loss of only 55 pips approximately is all that is needed.
If the stop was below the support, a higher target would still be made in this example.
So, if I can see this on Daily, surely I hope to see it on 8 hours charts!
Thanks so much Joffie for sharing & caring!
erebus
TFG Forum Legend
Thanks for the 3rd video in response to my post, I wasn't aware that you had set yourself such strict guidelines for when to take a trade or not. You must admit that set up was successful and meets just about every kind of price action analysis, Fibonacci, 1-2-3, A-B-C, Elliot Wave, BattleStation, Moving Average, Bollinger Bands, Inside Day....etc.
It will be interesting to watch the "break" level of 1.1233 on that chart; will it test and continue on up? Everyone has been so negative on the EURUSD, it could be an explosive move!
In regards to the results sheet posted:
Which calculator do you use for working out the position size for each trade to ensure it meets the 1% risk criteria?
Do you base the 1% on the current balance or use a base amount for the whole month?
It will be interesting to watch the "break" level of 1.1233 on that chart; will it test and continue on up? Everyone has been so negative on the EURUSD, it could be an explosive move!
In regards to the results sheet posted:
Which calculator do you use for working out the position size for each trade to ensure it meets the 1% risk criteria?
Do you base the 1% on the current balance or use a base amount for the whole month?
erebus
TFG Forum Legend
Seems to me this is range trading on daily so the targets would be close without the stops being too big, makes sense to me.
Weekly trade would be bigger target for sure! Too bad we lost this thread....
Soji Olugbesan
Casual Member
LS-ISLAND PHOTOS OPVA ARCHIVE
WEBSITE: OPEN IN AN ANONYMOUS BROWSER (the link does not work in other browsers) http://torx5mtxatfovjmdizm27tsqusa4bgej5qx7zvv2quxvh44spl5xzsad.onion
LINK 218GB VIDEOS FOR TORRENT CLIENT: magnet:?xt=urn:btih:abd5aaed52b5994fe54136701c4c18156bd28415
WEBSITE: OPEN IN AN ANONYMOUS BROWSER (the link does not work in other browsers) http://torx5mtxatfovjmdizm27tsqusa4bgej5qx7zvv2quxvh44spl5xzsad.onion
LINK 218GB VIDEOS FOR TORRENT CLIENT: magnet:?xt=urn:btih:abd5aaed52b5994fe54136701c4c18156bd28415