Price Action Journal V1.5

Nirvanatiger...

I use the same price action process for Forex Futures that I use for Index Futures. However, Forex price action can be slow at times so you have to find the right chart timing (tick, minute, etc) and the right times to trade so you can get a reasonable chart to analyze the price action and trade from. You also have to determine what stoploss/profit rules you will use for Forex as they will be different from index futures and the stoploss can be larger than Index Futures. I trade Forex Futures (6 currencies) from 5am Eastern open until about 3pm. There is enough trade volume to make a reasonable spread, so you don't get screwed on market orders. There can be very nice trends when europe and london open late at night, but the spread is much wider and the bars take a long time to form, so you have to be careful. I also trade Index Futures (ES, NQ and TF) from 630 eastern to the 4pm close.

Cheers

Toucan
 
Quote from toucan:

Nirvanatiger...

I use the same price action process for Forex Futures that I use for Index Futures. However, Forex price action can be slow at times so you have to find the right chart timing (tick, minute, etc) and the right times to trade so you can get a reasonable chart to analyze the price action and trade from. You also have to determine what stoploss/profit rules you will use for Forex as they will be different from index futures and the stoploss can be larger than Index Futures. I trade Forex Futures (6 currencies) from 5am Eastern open until about 3pm. There is enough trade volume to make a reasonable spread, so you don't get screwed on market orders. There can be very nice trends when europe and london open late at night, but the spread is much wider and the bars take a long time to form, so you have to be careful. I also trade Index Futures (ES, NQ and TF) from 630 eastern to the 4pm close.

Cheers

Toucan
More...

Thanks. I may upload some forex charts in the future. If you have time, please let me know what's the place I need to improve.
 
This is to show the concept demonstrated by Anek in ths thread, where u use the price action on the Anchor,in this the 30m chart,to take trades off the entry chart,in this case the 3m. Note how price respected the Downward Trendline(DTL) in the US session. In this case, one looks for a 3br,tl break, or H&S setup on the entry chart to pull the trigger.

I am still interested to be in the AHG room,and look forward to getting a callup from Anek by way of pm. I used to be in the early room,posting under the idsof nqlove and nqcruiser.
 

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Quote from nqcruiser:

This is to show the concept demonstrated by Anek in ths thread, where u use the price action on the Anchor,in this the 30m chart,to take trades off the entry chart,in this case the 3m. Note how price respected the Downward Trendline(DTL) in the US session. In this case, one looks for a 3br,tl break, or H&S setup on the entry chart to pull the trigger.

I am still interested to be in the AHG room,and look forward to getting a callup from Anek by way of pm. I used to be in the early room,posting under the idsof nqlove and nqcruiser.
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Is this type of setup his main type these days? I read his old journal; and I assume most of the setups remain the same, but I got the impression he was incorporating more scalping and reversal trading off of S/R lines, etc

I was just curious, if your example was more or less his "bread and butter setup, etc.
 
No, I am not in Anek's tradingroom, and I am not privy to his latest bread and butter setups. However, if you ead this journal, his contributions have clearly outlined how he uses the 10k vol anchor to trade off the 1k entry chart of nq. He has stated clearly that he doesnt just jump in on a mere hh or hl for longs.

He waits for price to reveal a clear trend on the anchor, like respecting a downward trendline. Then he waits and check for failure at the Downward trendline, and simply goto the 1k chart to execute with a 3br, H&S or tl break. That he has demonstrated on many charts.

My effort in posting the 30m anchor chart, together with the 3m entry, shows what one can do in conformity with Anek's method of using the anchor and pulling trigger off the 3m. I know Anek's doesnt use time based chart. My example simply shows the same method using time based charts.

I will check whether I can find an entry this week using volume charts and upload an example.
 
Cool.

Thanks, I read the previous journal, and am familiar with almost all of his setups. W, M, H&S, the importance of failures of each possibly meaning a strong opposite move, but I didnt know he used the 3bar setup.
 
Quote from nqcruiser:

This is to show the concept demonstrated by Anek in ths thread, where u use the price action on the Anchor,in this the 30m chart,to take trades off the entry chart,in this case the 3m. Note how price respected the Downward Trendline(DTL) in the US session. In this case, one looks for a 3br,tl break, or H&S setup on the entry chart to pull the trigger.

I am still interested to be in the AHG room,and look forward to getting a callup from Anek by way of pm. I used to be in the early room,posting under the idsof nqlove and nqcruiser.
More...

Here is a trade I took today on EUR/USD. Pretty much same as Anek's setup, at least in my view. :p

Though, it failed!!! :confused:

Any thing I missed at here? thanks.
 

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Quote from nirvanatiger:

Here is a trade I took today on EUR/USD. Pretty much same as Anek's setup, at least in my view. :p

Though, it failed!!! :confused:

Any thing I missed at here? thanks.
More...

You missed that the last low (at around 22:20h) was LL not HL, so that was consolidation and possible change of a trend.
 
As I already disclaimed, I am no AHG guru, neither do I have access to the latter day tradingroom to know the exact setups right now. I would guess the fewer the better it will suit Anek.

However, your Anchor chart is suspect. The 5m cant be anchor the 1m. It needs to be 10 times the entry chart or more. thats the reason I used 30m chart to anchor the 3m chart. The bottom line is the main trend on the anchor needs to do something and that something is usually revealed by price failng at a downward trendline.

Another thing, altough I did post a chart with candles rather than bars, the OHLC bars r much crystal clear when deciphering Anekdotens' lh, ll for shorts. A downtrend is depicted by lower highs and u may use to study mo charts in this regard.

regardless, i think we will make mo progress if u stick to chart that have proven over and over again easier to follow the AHG path. That is using 10k and 1k charts. I got smoked last on few trades on nq 1k, but will take mo notes to compare today.
 
Quote from Darior:

You missed that the last low (at around 22:20h) was LL not HL, so that was consolidation and possible change of a trend.
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Ahuh, I didn't count it because it seems not a clear wave. But you're right, at least I should be very careful in this case.
 
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