Chris's Journal - Step 1 (Setup 1)

[Boad]

Batch 4 - Trade 2
12/9/2017

EURUSD (Famous)
Entry: 1.19510
Stop: 1.19637
T/P: 1.19256

Result: DS0 (-1R)

A valid M15 signal but definitely not a big enough movce for famous so DS0
1/2 DS1 (50%) (-2R)

[Boad]

Batch 4 - Trade 3
13/9/2017

EURGBP(Cherry H4)
Entry: 0.90133
Stop:
T/P: 0.89614

Result: DS1 (BE)


2/3 DS1 (66%) (-2R)

[Boad]

Batch 4 - Trade 4
13/9/2017

GBPJPY (Famous)
Entry: 146.230
Stop:
T/P: 147.230

Result: DS1 (BE)


3/4 DS1 (75%) (-2R)

[Boad]

Batch 4 - Trade 5
14/9/2017

EURUSD (Famous)
Entry: 1.18702
Stop: 1.18890
T/P: 1.18326

Result: DS0 (-1R) Correcting to DS0 based on feedback


3/5 DS1 (60%) (-3R)

[Boad]

Batch 4 - Trade 6
14/9/2017

EURUSD (Famous)
Entry: 1.31986
Stop: 1.32106
T/P: 1.31746

Result: DS0 (-1R)

Definitely not famous
4/6 DS1 (66%) (-4R)

[Boad]

Batch 4 - Trade 7
15/9/2017

USDCAD (S1 H4)
Entry: 1.21553
Stop: 1.22054
T/P: 1.20554

Result: DS0 (-1R) PLACED STOP IN WRONG PLACE (WRONG ATM BUTTON SO DS0)

4/7 DS1 (57%) (-5R)

[Boad]

Batch 4 - Trade 8
15/9/2017

GBPUSD (Famous)
Entry: 1.34134
Stop:
T/P: 1.34641

Result: DS1 (2R)

5/8 DS1 (62%) (-3R)

[immy]

Batch 3 - Trade 20
11/9/2017

USDJPY (Famous)
Entry: 108.359
Stop: 108.599
T/P: 107.879

Rating this as a DS0 as it can be argued the M15 was already in W5, so the trade shouldnt have been taken. The W4 was tiny so I missed it.
Result: DS0 (-1R)

16/20 DS1 (80%) (13R)

Have I had none too many or am I seeing you reporting a Sell order on this chart?


what on earth is going on ...

[immy]

Batch 4 - Trade 5
14/9/2017

EURUSD (Famous)
Entry: 1.18702
Stop: 1.18890
T/P: 1.18326

Result: DS1 (-1R)


4/5 DS1 (80%) (-3R)

Don't have time to explain, but this is not Famous setup... and its not a setup 1 either ... but see if you can figure it out by looking at your GU trade ... which was a Famous ...

edit: A famous setup does not pullback too much, it does not do a zig zag pullback... its pullback not even 38% ... its often less than that...

and more importantly the Previous 3 is a strong 3 and 4 is a very flat wave with pancake type horizontally long b oxes ...

[immy]

Basically a Famous Setup is a Setup 1 ... A setup 1 is always taken into Wave 5 and that depends on having seen a Clear Clean Wave 3 followed by a more readable clear wave 4 ... none of the abcdefg stuff.. just a clean flat series of boxes. basically you want the price to move nicely in one session, and as the NY close starts you want to see it go pretty flat within a tight range during asias session... you take your trades only near the Frankfurt open. It would be ok an hr before that, but just because of your geographic location you can't just take the trade because you were up and awake... You have to know if the Europeans are awake or not. because they are the ones that will move the market.

Famous setup is really the pattern created by the natural process of humans waking up and going to sleep and work starting and ending patterns... It appears that asia waits for europe in most cases to get direction... specially on the currency pairs of the west.


ps: GU often holds its price and stays flat in wave 4 during famous setups.

but the EU was not a famous setup. it was not even SEtup 1