4h
This is the BTCUSD trade I took yesterday.
What I am doing here is the same as always.
Within a daily pullback-buying zone, the 4h also formed a higher low, so I entered on the break of the prior high following a higher low on the lower timeframe.
1h
This is what it looked like on the 1h.
Within the 4h higher-low zone, this was the point where the 1h also formed a higher low and then broke the prior high.
There was a trendline overhead acting as resistance, but at this entry point price was also shaping up to break above it, so I placed a stop order and waited.
4h
This is the 4h chart immediately after the entry.
1h
This is the 1h chart immediately after the entry.
1h
After that, I moved the SL up to the higher low. (Orange line)
And since it was Friday, and I do not carry positions over the weekend, I set the TP slightly in front of the resistance line above. (Green line)
This blue line marks the previous low that stands out clearly on the weekly timeframe and other higher timeframes.
1h
I do not have a screenshot from after that, so this is a chart captured later, but price hit the TP I had set, and the trade was closed there.
That is all for this one.
My trading is always just this same process repeated over and over.
It is simply a matter of applying Dow Theory and Granville’s rules through multi-timeframe analysis, and placing orders where order flow is likely to concentrate, again and again.
Lately, I have been busy and have not had the time to sit down and write a full blog post.
So this may end up being another standalone article like this one, but I will post again when I have the time, so I hope you will look forward to it.
And a little while ago, I released a piece of content called "Trading System Architecture."
It is a manual for building a reproducible trading system.
It covers everything in detail, including how to build a system, the exact process and specifics of testing, what metrics to use to evaluate a strategy, and how to calculate position size.
If you do not yet have a system with an edge, I highly recommend getting it.
It is an exceptionally detailed and information-dense piece of work, unlike anything else out there.
Thank you for reading to the end.
I hope my blog can offer useful hints to those who are trying to build a strategy, and to those who are struggling to achieve consistency.