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ORB Nr4 CANDLESTICK PRICE ACTION DAILY STRATEGYStep #1 How to Identify the ORB Nr4 The ORB pattern is defined as a trade taken at a fixed value of the opening range. The Opening range Breakout trade is more effective if taken after an inside day that has its daily range smaller than the previous 3 days, which is where the Nr4 stands for. You have three candles followed by another candle with a daily range narrower than the previous three days. Note #1: The 4th day doesn’t necessarily need to be an inside day, it only needs to have its daily range smaller than the previous 3 days. However, inside days tend to produce a higher success rate. The ORB Nr4 pattern can be the best candlestick patterns for intraday trading too. You simply have to apply the same rules outline in this guide on your favorite intraday chart What if we told you that, 40% of the time the first trading hour can tell you what is the high and the low of the day. Our candlestick patterns strategy incorporates this price behavior so you can better manage your risk and set your targets. Basically, you can become a proficient trader. Like with all our trading strategies we’re going to give you first the trading rules by going through an actual live trade example that uses the best candlestick patterns mentioned through this PDF guide. Step #2: Identify the best candlestick patterns and mark the high and the low of the 4th candle When you search for the ORB Nr4 candlestick chart pattern keep in mind two things: The Daily range of the 4th candle needs to be narrow and smaller than the previous 3 candles. The 4th candle price range also needs to be inside the candle number 3. The ORB Nr4 pattern in the chart above is a bullish candlestick patterns because it leads to a bullish move. Narrow daily trading ranges suggest contraction. And contraction always leads to expansion. This is kind of a general rule because the markets do move from periods of contractions to periods of expansion. This is the reason why this ORB Nr4 candlestick pattern is so powerful. Step #3: Switch to 1h TF and Buy if we break the high, Sell if we break the low of the Nr4 candle. Our trade is taken the next day after the Nr4 pattern showed up. In order to have a clear view of the short-term price action we need to switch our focus to the 1 hour time frame. Note #2: Only Buy or Sell if the breakout happens during the first 5 hours of the new trading day. We use the Opening Range Breakout technique to time the market and have an effective trade entry. Trades based on the ORB – Nr4 candlestick chart pattern will show you a profit instantly. Now, if the trade is not showing you a profit right away than your trade becomes more vulnerable. As a general rule, if after the first trading hour your trade is not in the green, you can safely close the trade at the market. Of course, you can only do that if your stop loss hasn’t been triggered in the meantime. Step #4: Place SL below NR4 day low, Step #5: Take profit using a trailing SL below each 1h candle low/high For buy trades, hide your stop loss below Nr4 day low. The ORB – Nr4 pattern tends to precede strong trend day activity, so your stop loss should be rarely hit. Our take profit strategy is fairly easy and it’s slightly modified from the original strategy highlighted in the “Day Trading with Short Term Price Patterns and Opening Range Breakout” book written by Toby Crabel. Even though the ORB nr4 pattern tends to lead to trend trading days we’re more conservative and want to quickly take profits. We would trail our SL below each 1h candle low and wait for the market to reverse to take profits.
Long
by Tradingstrategyguides
BTCUSD 1 hourHello, The green 1 on the TD sequential setup phase looked promising when it went above the green 9, indicating that we could accelerate the 13 countdown phase to the upside. Unfortunately, this candle was also a perfect gravestone doji. Candle shape overrides TD sequential. We are still above the cloud, however, the baseline of the ichimoku crossed the conversion line, indicating the close of the long. The 50h MA provided perfect support and the 128h MA is providing very strong resistence. If we can consolidate at current level, we can start attacking the 128h MA, brake it to the upside, and flip it from resistence to support. Best regards, Alexandre Simões
BITSTAMP:BTCUSD
by alexandrejosesimoes
GBPCHF: Short From The TopWhaaaat´s up traders ? Here is my short analysis for the GBPCHF pair. Im short on this pair as we see major market structures forming. Currently price is above my entry ,but with the right risk management there is nothing to worry or stress about. As long we do not move a larger move (20-50 pips) over the divergence trend line. After 3 levels of rise we expect at least a bigger correction from there. Wishing you a great trading week and be careful for pre elections during these hours :)
Short
by darian_fx
2
AUDUSD 15M ICHIMOKU STRATEGY SHORT TRADEAUDUSD 15m shows triggers when to enter and exit AUDUSD 1H and $H show Bearish confirmation Step #1 Wait for the Price to Break and close below the Ichimoku Cloud Ichimoku cloud trading requires for the price to trade below the Cloud because that’s a bearish signal and potentially the beginning of a new down-trend. The cloud is built to highlight support and resistance levels and it’s supposed to highlight several layers deep because support and resistance are not a single line drawn in the sand, but several layers deep. So, when we break above or below the Ichimoku Cloud that signals a deep shift in the market sentiment. A high probability trade setup requires having more layers of confluence before pulling the trigger. This brings us to our next requirement for a high probability trade setup. Step #2 Wait for the Crossover: The Conversion (Blue) Line needs to break below the Base (red) Line. The price breakout below the Cloud needs to be followed by the crossover of the Conversion Line below the Base Line. Once these two conditions are fulfilled only then we can look to enter a trade. As you can notice the Ichimoku Cloud indicator is a very complex technical indicator that can be used even as a moving average crossover strategy. Now, we’re going to lay down a very simple entry technique for the Ichimoku Kinko Hyo trading system. See below… Step #3 Sell after the crossover at the opening of the next candle Ideally, any short trades taken using the Ichimoku strategy are taken when the price is trading below the Cloud. Our team at TGS website has adopted a more conservative approach and added an extra factor of confluence before pulling the trigger on a trade. So, after the crossover we sell at the opening of the next candle. Step #4 Place protective stop loss above the breakout candle The ideal location to hide our protective stop loss is above the high of the breakout candle. This trading technique accomplishes two major things. Here is an example of master candle setup. Firstly, it’s minimizing significantly the risk of losing big money and secondly, it helps us trade with the market order flow. Since this is a swing trading strategy we’re looking to capture as much as possible from this presumably new trend and we’ll be looking to trail our stop loss level below the Cloud or exit the position once a new crossover happens in the opposite direction. The next logical thing we need to establish for the Ichimoku trading system is where to take profits. See below… Step #5 Take Profit when the Conversion Line crosses above the Base Line We only need one simple condition to be satisfied for our take profit strategy. When the conversion line crosses above the base line we want to take profits and exit our trade. Alternatively, you can wait until the price breaks below the Cloud but this means risking to lose some parts of your profits. In order to gain more sometimes you have to be willing to lose some. Note** the above was an example of a SELL trade using the advanced Ichimoku trading strategies. Use the same rules for a BUY trade – but in reverse.
Short
by Tradingstrategyguides