Praxis Step-by-Step Method
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Thread: Praxis Step-by-Step Method

  1. #1
    le
    Guest
    Hello traders.

    I'll be posting charts and thorough explanations here as I proceed on my trading travel using a exceptional combination of price action, TD Sequential, harmonic patterns and Elliot wave theory.

    Some of these well known patterns are confusing at best so I decided to modify them into these:
    1. One-Step
    2. Two-Step
    3. Three-Step
    4. Spring

    I will use the daily charts as my major time period to spot possible entries and plot support and resistance lines

    while I will use the 4H and lower as my entry time period (s) where I plot my fibonacci and TD sequential and watch out for confirmations in terms of snare bars, chart patterns etc..

  2. #2
    le
    Guest
    This Method is a simple retracement that moves in a counter tendency fashion.

    We look for a viable entry going down to a lower time frame.

    We look out for pin pubs and fibonacci confluence. We use the TD sequential to be on the watch for consolidations and breakouts from the TDST

    LONG

    1. We identify the short term trend direction (up)
    2. Wait for a retracement of at least 3 candles prior to the creation of a pin or some other reversal candle pattern you understand
    3. Confirm the reversal pattern is greater than a previous swing low stage (preferably at a fib retracement of 38.2%-78.6% of their prior up move)
    4. You can buy at the following candle available
    (reverse rules for shorts)

    this is the One-Step method in summary. Heading down to the lower time frame will involve some tweaking which we'll see as we move along together.

    thanks

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