H4 Setup 1 and Monarch Hunt

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SprayPlaster
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Re: H4 Setup 1 and Monarch Hunt

Unread post by SprayPlaster »

Trade I DID NOT take 3

Pair: EURUSD H4
Entry : Setup 1
Comment: I like the AO wave count on H4, clear 3 and then a 4. However after placing my PO, I had some doubts as I didn't particularly like the corrective wave, I prefer it to be flatter. And zooming out to D1, I didn't see a valid hunt structure as there's already divergence so I canceled the order.
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immy
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Re: H4 Setup 1 and Monarch Hunt

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SprayPlaster wrote:Trade I DID NOT take 3

Pair: EURUSD H4
Entry : Setup 1
Comment: I like the AO wave count on H4, clear 3 and then a 4. However after placing my PO, I had some doubts as I didn't particularly like the corrective wave, I prefer it to be flatter. And zooming out to D1, I didn't see a valid hunt structure as there's already divergence so I canceled the order.

Great observation there. I don't know what is it about this setup but I did not like it either. YEs I see a 3 up, and 4 down. but I also see a very strong impulse down within the 4 followed by some ugly up and down ... i believe there are numerous types of 4th waves but ones that stand out are

1. zig zag what they also call the clean 4. It has a clear Mark of Zoro or Flash sign on it... that is what we call clean abc pattern. A would usually have a zig zag within it, b would have a zig zag in it, ie. b is always made of abc, and C would have a nice 1-5 in it. Well you don't have many time frames below your CTF to check all of it but if you were on D1 chart you'd hvae more than enough data to check all that .

2. there are flat wave 4's. those are the ones we like for Setup 1. here you see a Flat pan cake type horizontal rectangle boxes.... they call them the complex wave 4s'. but really they are not complex once you only focus on the box highs and lows instead...

Setup 1 is for 2 cherry and apple are for situation 1 ...

i don't think the above H4 chart and its wave 4 would fit in either of these two situations ...

having said that, from what I see on d1... i see that this strong move down, may well be a wave 1 down and the noisey up wave could be its B...

D1 chart has been going up for 6 months now and showing divergence. maybe its time for 4 down. may be its getting ready for a reversal ... we shall watch ...

cheers
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Last edited by immy on 06 Sep 2017, 18:15, edited 1 time in total.
Reason: addin info and pictures
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1 :nerd

The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".

I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.

My Deathbed Advice "5:1 Reward to Risk Ratio".

Yo, banana boy! 🍌
SprayPlaster
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Re: H4 Setup 1 and Monarch Hunt

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Trade 5

Pair: EURUSD H4
Entry: SEED
Exit: TP at 2R and SL to BE at 1:1
Result: 2R
Disciplinary Score : DS 1 (3/5)
Pre-trade comments: Nice small seed after clear 3 and 4, monarch setup. It also sort of broke out of the ugly range before retracing.
Post-trade comments: -
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SprayPlaster
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Re: H4 Setup 1 and Monarch Hunt

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Trade 6

Pair: USDJPY H4
Entry: SEED
Exit: TP at 2R and SL to BE at 1:1
Result: 2R
Disciplinary Score : DS 1 (4/6)
Pre-trade comments: Nice setup 1 on H1 as well.
Post-trade comments: -
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SprayPlaster
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Re: H4 Setup 1 and Monarch Hunt

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Trade 7

Pair: GBPUSD H4
Entry: SEED
Exit: TP at 2R and SL to BE at 1:1
Result: 2R
Disciplinary Score : DS 1 (5/7)
Pre-trade comments: Lovely peak after a fresh cross of ZL (can't be seen on screenshot but can be seen when zooming on MT4), small seed. Very nice setup structure on H1 as well.
Post-trade comments: -
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SprayPlaster
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Re: H4 Setup 1 and Monarch Hunt

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Really loving these small seeds. In just a couple of days I saw a few small seeds potentially sprout into 5-10R profits each. Powerful stuffs.
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immy
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Re: H4 Setup 1 and Monarch Hunt

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oh yes ... SEEDS are potent setups. they have so much ENERGY inside them... thats why we call them SEEDS
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1 :nerd

The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".

I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.

My Deathbed Advice "5:1 Reward to Risk Ratio".

Yo, banana boy! 🍌
SprayPlaster
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Re: H4 Setup 1 and Monarch Hunt

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Kudos to you Immy and the others for discovering these seed entries ^:)^
SprayPlaster
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Re: H4 Setup 1 and Monarch Hunt

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Trade 8

Pair: EURGBP H4
Entry: Cherry
Exit: TP at 2R and SL to BE at 1:1
Result: BE
Disciplinary Score : DS 1 (6/8)
Pre-trade comments: Decent Apple structure on H1. I was really hesistant to take this due to the strong BRN support, but I told myself that BRN isn't part of my plan so I took it anyway.
Post-trade comments: Price was stuck on BRN for 2 days before finally breaking through. It forgot to bring me along for the ride though!
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immy
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Re: H4 Setup 1 and Monarch Hunt

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you don't need to be on the ride .. you are focusing on hitting DS 1... Well done on taking the right decision and not caring about SBN or BRN or GPC ... :D have a great weekend ... keep collecting those DR1 dog tags... kill emmm
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1 :nerd

The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".

I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.

My Deathbed Advice "5:1 Reward to Risk Ratio".

Yo, banana boy! 🍌
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