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Chart Layout The 8 EMA Equilibrium (EQ Line) • The 8 EMA Equilibrium line (EQ line) appears on all the chart timeframes (along with the 50 EMA line) • The Safest trade entries are always made from the Price Channels (Usually on the M5 chart) However in a strong trend you will typically have to enter your trades off the M5 EQ line • In a strong trend you usually won’t have a choice, as price won’t have the strength to break the EQ line on the M1 or M5 chart (our main trade entry charts) so in this situation we take our scalp entries off the EQ line Price Channels • You should enter and exit your trades at the price channels • Most of the trade entries are made on the M5 chart • When you buy/sell at the price channels with supporting arrows it will win 90% of the time • The Arrow signals are just that, a signal. The story behind every move is always price reaching/piercing the price channels In order of importance you should see Price Channels 1st, Trend 2nd, Arrows 3rd, Momentum bars last Checklist when entering the Room • Synchronize your computer clock (internet time server) with the Room clock (the ‘seconds’ only) Get it as close to the room clock as possible (we are scalping so the timing of entries is fairly critical) • Check the NEWS for any impending high impact events • We use a 5 minute stopwatch timer (set to go off about 10 seconds before the arrival of the new 5 min candle) as we usually take our scalp trade entries WITH a new M5 candle. https://www.online-stopwatch.com/loop-countdown/full-screen/ Then determine the trend of the currency pair on the long term charts: • Currency pairs that are ‘Trending’ as opposed to ‘Ranging’ are better to trade on these charts. To recognise a currency pair in a strong trend, check the angle of the Red “EQ Line” on the long term charts (H1, H4, H8, Daily) • To establish the Trend for the current trading session, concentrate on the H1 and H4 charts (which side of the EQ line the candles are on, and any current Arrow signals) • You can also tell a strong trend by candles staying on one side of the M15 & M30 EQ line. Avoid trading pairs that are crossing the M15 EQ line constantly • If a currency pair just looks messy, with a flat trend or wicks everywhere simply don’t risk it, look for another currency pair with a clearer setup to trade on https://www.online-stopwatch.com/loop-countdown/full-screen/ HOW TO AVOID (LOSING TRADES) • Only trade with the trend (basically the EQ line direction on the H4, H1, M30, M15 charts) • NEVER trade against H4 and H1 correlating Arrows on the current ‘live’ candle • Don’t trade against the Price Channels (IE: if you want to take a ‘buy’ trade, take it from the bottom price channel. If you want to take a ‘Sell’ trade, take it from the top price channel) • Don’t trade against LT chart Blue or Yellow arrows that are AGAINST the trend. Let them play out and then re-enter at a later stage with new arrow signals that are back with the trend (yes we do have trades that we take against the trend, but just whilst you are learning, stick to the trending trades only) • NEVER trade during news events unless you’re 100% sure of the outcome (lol yeah right!) DON’T trade during the News The Arrows The Small Red Arrow - Predicts a moderate price movement The Small White Arrow - Predicts a continuation of price movement (M1 chart only) The Pink Arrow - Predicts a larger price movement than the red arrow The Yellow Arrow - Predicts a larger price movement than the red arrow. This arrow also has the unique characteristic of pushing price back to the ‘mean’ (the EQ line) on the chart that it appears on The Blue Arrow - Predicts an upcoming REVERSAL of price Super Arrows - Are a combination of 2 arrows • Super arrows are stronger versions of all other arrows • They are the optimal arrows for trading on any timeframe • The most powerful versions of the super arrows are the Pink/Red and Yellow/Red (the yellow/red being the strongest arrow of all) Arrows AGAINST the Trend Arrows that appear AGAINST the current trend on the Long Term charts (H1, H4, H8, Daily) are very tradeable. In fact they are some of the MOST IMPORTANT Arrow signals to take notice of, and some of the safest trade setups we can take on these charts (believe it or not! ). We will cover the ways to trade these reversal arrows that appear on the long term charts, but basically: • an arrow appearing AGAINST the trend on the Daily chart will push price back to the H8 EQ line • an arrow appearing AGAINST the trend on the H8 chart will push price back to the H4 EQ line • an arrow appearing AGAINST the trend on the H4 chart will push price back to the H1 EQ line • an arrow appearing AGAINST the trend on the H1 chart will push price back to the M30 EQ line Please note that there are many different variations of the general rules stated above (arrow strength combinations, timing of new candles, new LT arrows appearing/disappearing, etc) and we all know that things can change in an instant and price can suddenly choose to do something completely different to our trading plan (That’s Trading!) However, for the most part the rules stated above stay true to form the majority of the time. The Momentum Bars Each currency pair also has momentum indicators, which light up immediately when there is increased movement in the market. (The extra momentum bar at the top of the charts is the USDX) • They flash green when there is high BUYING momentum (accompanied by a ‘Clicking’ Sound) • They flash red when there is high SELLING momentum (accompanied by a ‘Popping’ Sound) • They remain neutral when there is little momentum in that currency pair The “Moms” as we call them are simply an extra confluence that we use to support our trade entries and to confirm direction when we are in a trade. If you are about to enter a ‘Buy’ trade on a currency pair: • Green Moms support your trade entry • Red Moms should make you think twice about the ‘Buy’ trade, at least until the red moms disappear Conversely, if you are about to enter a ‘Sell’ trade on a currency pair: • Red Moms support your trade entry • Green Moms should make you think twice about the ‘Sell’ trade, at least until the green moms disappear If you are currently IN A TRADE on a currency pair: • The correct Moms (IE: Green in a Buy trade, Red in a Sell trade) SUPPORT your current trade direction • Moms appearing AGAINST your trade direction do not necessarily means you should exit your trade, but should indicate to you to ‘check’ your current trade setup The Basic Trading Concept Trading on these scalping charts can be very lucrative, and like most trading strategies there is a learning curve. However the basic concept here is: • We trade with the long term trend, unless we have long term chart arrows appear against the trend to tell us otherwise • We take 90% of our trade entries off the M5 and M1 charts - price channels or EQ line • If we have identified that a currency pair is in a strong trend that we think will continue, we can: o Enter 1 trade, set an open TP and leave it running until price reaches the price channels on the H1 & H4 charts, OR we continue to trade the trend THROUGH the H1 & H4 price channels until we have BLUE ARROWS appear against the trend on the H1 & H4 charts and we then exit our trending trades. o WHILST we are IN the trending trade mentioned above, we take extra Scalp trades for 5 – 10 pips when trade entries appear on NEW M5 candles (OFF the M5 EQ line or price channel) (In strong trending conditions of a currency pair it is not unusual to take 25 – 50+ pips off the first open TP trade mentioned, as well as 4 to 6 extra 5 – 10 pip scalp trades off the M5 EQ line as the trend continues. Obviously this is best casescenario trading conditions, but these trending trade setups occur for us frequently) • When BLUE arrows AGAINST the Trend appear on the H1 and H4 charts (the H4 chart BLUE arrow being the most critical) we: o Wait for the price to start turning, by allowing the first reversal move to happen as we watch, then.. o We start looking for new arrows to appear that support the continuation of the reversal of price on the M5, M15 and M30 charts. If they start to appear, we then… o Grab an entry on the first retracement of the reversal move on the M5 chart, and ride the new price reversal with one open TP trade, grabbing new 5 – 10 scalp trades off the M5 EQ line as the new reversal trend continues o All the while keeping a keen eye out for new arrows that may appear AGAINST our new found trend direction That’s it! Albeit it’s a very simplified version of how to trade these charts. It does take some practice to master it, but if you do… you will be able to consistently extract pips from the charts in any market condition, any day of the week! Please keep in mind that this system is mainly a scalping strategy, and your goal should be to look for 5/10/15 pip setups. However, when we combine these new ARROW charts WITH the FX MindShift trading concepts that you are learning here AND they coincide with the confluences in our daily setups…we have seen some pretty amazing trade results (10R+ trades!!) There are many new hybrid setups we will be presenting to all the members here and as you learn the system over the next few weeks, hopefully you will be able to see how much your consistency & profitability will improve when understand what to look for.
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