Patterns by HWAFM

Originally Posted by lobogabor

Unerstood, but as for start considering entry with a method, this is now the ideal as you described (GbpUsd)

Yes, it may be this case :

Just one pattern for H4 is on uptrend :

If we look at Ichimoku charts so we understand that no any downtrend is going for now.

D1 - breakout may be going soon (it is flat for now)

H4 - uptrend and breakout may be going soon

H1 - breakout is going on now

But why this pattern tool is showing downtrend for all forming/developing patterns if we see that this pair is on uptrend and will be on uptrend in the near future?

Because this pair is on overbought condition ... we can attach 3 stochastic indicators with the setting 5/3/3, 34/9/9 and 100/5/5 and we see it :

What does it mean? It means the following :

• The price is on overbought condition so GBPUSD should go to correction or reversal on the near future (concerning technical points of view)
• But for now - price is on uptrend (bullish) with possible breakout for uptrend to be continuing
• It means the following: economic news events only can move the price to breakout and for continuing bullish trend (concerning fundamental points of view).

So, concerning our example with GBPUSD - we know that it will be downtrend, and we know 'why'. But we do not know 'when it will be happened'.

To know 'when' (time) - I used standard MACD indicator. If we attach MACD now to many timeframes of GBPUSD - we will see buy signal (not sell signal). To catch sell signal - we will need to monitor the situation ... (sitting near PC all day and night ...)

To make it shorter - we need EA based on MACD (for example) which will open the trades for buy only and sell only (semi-automatic EA). I used some EA for that but I did not find it now in my PC ...

Originally Posted by newdigital

To know 'when' (time) - I used standard MACD indicator. If we attach MACD now to many timeframes of GBPUSD - we will see buy signal (not sell signal). To catch sell signal - we will need to monitor the situation ... (sitting near PC all day and night ...)

To make it shorter - we need EA based on MACD (for example) which will open the trades for buy only and sell only (semi-automatic EA). I used some EA for that but I did not find it now in my PC ...

How did this EA work? This is example with buy trade for GBPUSD (I used H1 timeframe; EA was based on 10points EA - with stop loss, 10pips take profit, and 'martingaling' instead of stop loss) :

But according to our situation with GBPUSD (in case we already have this EA) so I should attach it to GBPUSD H1 chart with 'sell only' option. So, EA will wait for sell.

I like Ichimoku because I understand this indicator (because it is easy for me). I check D1, H4 and H1 timeframes with Ichimoku.

No, they are different timeframes.
D1 is daily, H4 and H1 is intra-day. D1 is higher timeframe compare with H4 and H1.

I check those 3 timeframes just because Ichimoku indicator is working well on those timeframes. I am checking market condition. Yes, I check all timeframes (every day in the morning).