Daily revisions Flashcards
How do we trade a 4H Bullish continuation?
IN 4H POI: Wait for price to tap into a 4H POI wait for a 5M CH to align with 4H ID the 1M POI's in discount of the 5M range play 15S entry in the 1M POI's
No LQ/inducement needed
NOT IN 4H POI: 15M CH 15M well priced POI Inducement 1M CH 1M POI 15S Confirmation
How do we play 15M OF continuations?
Wait for the most recent 15M OF range to be created ID 15M POI's ID Inducement before real 1M CH Wait for 1M CH in 15M POI play 15S CH from 1M POI, enter
(If the 1M is still aligned and mitigates the only 1M POI, we don’t have to play the seconds confirmation
What are the two things we need to see to confirm a valid CHOCH on the 15M and below? (2)
We need to see at least a 1 candle gap (2 candle on 4H or higher)
We need to have an opposing candle IN the gap.
When can we enter without 15S confirmation?
We can enter without 15S re-alignment if the 15S and 1M is still aligned (most commonly, when they are the same swing points)
What kind of LQ do we need to see before the 1M tradable CHOCH for 15M OF continuations?
1M Fake CHOCH (most common) 1M Equals 1M Trendline LQ 15M Equals 15M Structural LQ (rare)
What TF’s do we need to be in P/D of NON DEBATABLE?
The 15M, 5M, and 1M ranges all need to align in P/D.
When analysing the break of a LOFR (5M and 15M), what questions should we ask ourselves? (3)
What flipped and broke the range?
What is the new P/D Zones?
What are the new POI’s?
What do we always need for 15M continuations that we don’t need for 4H Continuations?
A LQ sweep/inducement.
When can we never look for sells, and when can we never look for buys?
We can never look for sells in 4H demand zones, and we can never look for buys in 4H supply zones
How can we play the 1M continuations when playing 15M OF continuations, even with no LQ before tapping the 15M POI?
The current 1M range becomes structural inducement for the previous 1M range’s POI.
Even if we never had LQ/inducement, we can follow 1M OF to take out the 15M OFO by taking 15S Confirmations in the previous (one higher) 1M POI/OF range. That way we have a sweep of structural LQ into
a 1M POI.
If we are in a 4H S/D zone, and get a 5M CH which is also a 15M CH, which rules do we follow?
We can follow the rules for the 5M (Well priced 1M POI, 15S CHOCH within it) since we are in the 4H POI.
What does a V-SR tell us?
It tells us that BFI’s have an interest in protecting that level, since only BFI’s can create the kind of movement that opposes and stops such an aggressive move
When do you call it quits when trading for the day?
We must stop trading after 2 invalid losses, or 4 valid losses.
Do we have to be well priced to execute the trade?
Yes, we have to be well priced in the LOFR (15M and 5M) in order to execute the trade, even if the OFO of the mitigation has been completed.
What is a shit wick? and what do we do when we see one?
A shit wick is when the high/low of a range is taken/formed with the same candle.
Bullish: High is taken and new low is the same candle
Bearish: Low is taken and new high is the same candle
When we see one, we continue to keep our OF swing points at the previous level.
When can we move our SL to BE?
We can move our SL to BE once we have one or two 1M ranges formed. (Basically once it’s behind a protected 1M level)
What do we have to do once we enter a trade?
Set the BE point, and look for scale ins.
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When is the ONLY time that we can use the 5S?
We can only use the 5S to confirm a POI if we’re in a position that we’re allowed to hit it just on the 1M.
What can we ask ourselves to properly identify the new range? (2)
When a new range is formed, we can ask ourselves:
1: What flipped and broke the range?
2: Is it a shit wick?
What are the 3 types of POI’s that we can mark up?
- Extremes (always valid)
- SD Flips (these can be S2B B2S wicks)
- LQ Grab FU candles
If we can, what is something we should always try to do as we’re entering a trade on the 15S?
We should always try to cover the 1M POI with our SL if we can still get a reasonable stop size.
What is a great confluence for a POI? (4)
- imbalance
- VSR causing POI, or VSR when mitigating the POI
- Sweeps LQ
- The POI breaks something significant
What are the 5 confluences for 4H POI trades?
- 4H POI
- 5M CHOCH
- LOFR P/D
- 1M POI
- 15S Confirmation
What are the 6 confluences of 15M OF plays?
- 15M OF
- 15M POI
- LOFR P/D
- LQ
- 1M CH
- 15S confirmation
How can we use alerts to never miss potential trade setups?
We can set alerts on: 4H POI's, 15M POI's, 15M BOOF's and 15M CHOCH's
How can we make sure we are on top of our chart/current PA?
Regularly: Mark 4H POI's Set alerts on 15M BOOF and CHOCH Mark 15M POI's Use callouts to mark current trade ideas
What are the two ways that we can scale in?
The two ways that we can scale in are by:
- Following 1M OF when well priced in the LOFR
- Following the new LOFR ranges (5M in 4H POI, or 15M)
If the 1M range is the same as the 15S range, do we need a new 15S confirmation or can we hit it right away on the 1M?
No need for extra 15S CHOCH for extra confirmation, we can hit it directly on the 1M.
If the 1M range is large and the 15S has to CHOCH back bearish to get back into the 1M POI, what do we need?
We need to play an additional 15S CHOCH to confirm.
How can we trade without fear, hesitation or internal conflict?
By KNOWING that we don’t need to know what is going to happen next on a trade by trade basis to win or make consistent money.
How can we mentally prepare for a trade before taking it?
Before taking a trade that is a valid setup, we need to mentally accept that this specific trade can be a BE, L, or win, and it does not affect the overall profitability of our system.
Why is it so important to set your BE point?
Because if we don’t, we will accumulate WAY more losses (2X) and once we are BE, we can look at getting into scale ins.
What is the 6-part mantra we must embody to be consistent?
- I objectively identify my setup
- I completely accept the risk before entering this trade
- I act on my edge without hesitation or doubt
- I pay myself as the market makes money available to me
- I continually monitor my susceptibility for making errors
- I understand the absolute necessity of these principles of consistency and therefore, I never violate them
Is there any relationship between the next trade and the previous one?
No, there is absolutely no relationship between the outcome of one trade to the next.
What kind of LQ do we want to see?
15M Structural
1M EQs
1M Fake Choch
On what TF is the entire range always valid?
On the 1M, the entire range is always valid.
If we are trying to take 15M longs, and we have LQ after CHOCH, when do we have to wait for 1M re alignment, and when can we play the 15S directly.
The only time that we can play 15S confirmation is at the extreme 1M POI, otherwise, we always wait for 1M re alignment.
What do we do whenever a new range is taken? (4)
We ask ourselves 4 questions:
- What flipped and broke the range?
- Where is the new range
- What are the new POI’s
- What’s the new point of invalidation.
If price taps into a 4H POI, and gives an entry setup outside the POI, is it still valid to take?
Yes, if price taps into a 4H POI, and gives a 5M setup outside the 4H POI, it’s still valid to execute.
