Uncle Ted's Entries Entries Entries

UNCLE TED I HAVE NO IDEA WHAT I AM DOING AND I AM GOING INTO THE FOREX ABYSS. I PAID MONEY FOR YOUR WEBINAR AND I AM IN YOUR CHAT ROOM SEEING PEOPLE MAKE MONEY AND STUDYING AND WELL YOU ARE PISSING ME OFF.

Oh ok....let’s talk about entries. Now entries become more significant in the smaller time frames if you are doing shorter time frame trades (say 1hr-4hr, if you are trading on smaller time frames check out “THE SOLTAN SCALPING” doc in the member contributions section of the google drive)

So from the webinar we learned that we are looking at a 3 time frame analysis. This 3 time frame analysis is TREND – PATTERN – TRIGGER. We once again start at the highest time frame we want to work with and then do 25% less for each shorter time frame

EG – Monthly/Weekly/Daily, Weekly/Daily/4HR, Daily/4hr/1hr, 4hr/1hr/15min

Now a word about the various time frame trades....the longer the time frame the bigger your stop loss and your take profit should be, remember always to try to maintain a 1-1 risk to reward ratio. In other words if I am taking a swing trade on the daily time frame, I am looking at probably a 500 pip stop with a 500 pip tp point.

As you can see there is over 1000 mini pips in this range so there is potential to grab the entire move based on candle pattern confirms. How does one get those confirms....well you need to work on the smaller time frames to see that the trend is matching the patterns/trigger.

When you are looking for entries you are looking to catch the bottom of the smaller trend in a bull move and the upper portion of the trend in the bear move.

Now if you have problems finding these selected patterns feel free to jump into the 5min candles to get a better idea of where these 15min candles will form

So now when I am looking for entries I am looking at the following within the 15min time frame

1. I am looking to make sure we are at a potential bottom or top range depending on the overall trend. I am also looking to see if the candles are starting to move in the right direction based on the wicks.
2. You will notice at each time frame, the candle will develop over the time frame. So the wick will form and then the body will push and the final wick more than likely will form with the pull up or pull down. Here is where you observe the trend forming.
1. Ask yourself...did the next candle form according to the trend
2. Was the wick higher or lower depending on the trend you are looking for

Now when you are going for confirmation this is truly a judgement call

Now we see the 1hr for the pattern:

Finally now I go into the 15min frame and look for an entry:

So hopefully this provides you some guidance in what you are looking for with regards to entries and

taking positions. Remember let the position come to you and there isn’t always a set up. If you can

anticipate moves based on your charts and your support and resistance and trend lines it will allow you

to go away from your charts then come back later to hit those moves.

This ultimately comes with time and experience. Patience is the key to make yourself consistent.