The BANANA Technique [The Trading Course]

[immy]

1. Tight Trading Range Breakout and Signal 
2. Second Day Play, Signal on H4  
3. Trend Reversal Setups (Breakout of Converging Channels) 

 

 

 

[immy]

1. Tight Trading Range Breakout and Signal 
2. Second Day Play, Signal on H4  
3. Trend Reversal Setups (Breakout of Converging Channels) 

 

 

 

[immy]

I love signals like these. Low Risk, VERY high reward
 

[immy]

The Ultimate Winning Pattern
 

[immy]

The Ultimate Winning Pattern
 

 

https://itradeaims.net/lessons/what-is-a-pullback/ 

Check the new set of patterns added to this lesson

[immy]

The age-old concept we had found 12 years ago, is the BOMB @sam

Apply the Banana "TTTPP" "TTP" "TTPP" TTTPPP" pattern and combine it with the Open Line Filter. It is THE BOMB.


 
 
 
 

[immy]

Sometimes, we see some moves and we really really want to be in those moves. This happens, usually, in hindsight, after the move has happened. 

We look back at the chart, and since we are "primed" to look for signals, we usually find that signal and sometimes our brain omits some information in order to allow the information to conform to our bias. The bias i.e. at this point. looking for a "valid" signal. 

Below is a picture of one such trade idea. I was really convinced the last couple of weeks that I have missed this trade. I am convinced that I have missed a trade here and that I must be taking such trades. 

Today, I looked back at it and realised, oh no. 
 
This is NOT my setup. I like to see TTTPP, TTTPPP TTP TTPP TP stuff like this. 

 

[immy]

Trading Discipline and Being 100% organised go hand in hand 

I use this template to track my hour-by-hour checking of the charts. 

I don't want to miss any candle or signal. I have to check my charts once an hour from 7 am until 6 pm UK. 
If I'm in a trade, then I don't check anything. 

This allows me to remain 100% focused on the charts even if I'm doing other stuff around the house or when I'm out and about. 

You can copy this here: 

https://docs.google.com/document/d/1sjE ... sp=sharing
 

[immy]

In this image, I will show you how I buy a Box level after a breakout 

The example is from today, on the DAX40 Hourly chart 

 

[immy]

I will use Friday's US30 Chart to make this point. 

The chart below is of Friday 15 July 2022. Nasdaq Hourly time frame. There were US red news 1 hour before NEO (New York Equities Open). 

1. News Catalyst
2. Previous day is Up trend, it's a 2nd-day Play, hence there is a bullish bias. 
3. After the news release, Price tests or tried to break the box lows, gets rejects and in turn goes up strong and breaks the Box High. 
4. We see a Clean Strong Clear, Bullish TC. (that closed outside of the BOX)
5. A breakout of the Trading Range, the BOX. (with a TC, a TC is a DIRECTION INDICATOR CANDLE)
6. Everything is now clear we can be sure that this market is highly likely to go up.
All we need now is to GET IN. Find an Entry. The Best entry is the one with the lowest risk and highest reward. We have 3 options here. 

The THREE Options we have at this point:
1. The First option,  Wait for The BANANA Signal. (Simple)
2. Second Option, Apply the H1/M15 or H1/M5 Entry Method. i.e., drop to m5 or m15 chart and wait for a valid Banana Signal. (also simple)
3. Third Option, "Manufacture" an on-demand Low-Risk High Reward Entry Spot.

Enter the market with a Limit Buy order using the most recent

a) Seed Signal or
b) Box Level.

In this case, a Box High. 


Option 1

2022-07-18_08-39-00.png

 

Option 2
 

2022-07-18_08-40-08.png

 
Option 3

2022-07-18_08-03-13.png

 
 


 ps: I have coloured the lines so that I pay more attention to the "faster line" is above the "slower line" and when was the CROSS made. 
 
 

2022-07-18_08-20-40.png

 
 
 
 
 DAX Example 
 
  
 

2022-07-18_08-49-22.png

 
 
 
 GBPUSD Example where limit order was set 2 pips above the box but did not trigger. 
 
 
 

2022-07-18_08-57-02.png