The BANANA Technique [The Trading Course]

[Minsk]

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
 

 

this is really nice, thanks for making it available

[immy]

If you see a seed like this, you should not hesitate at all and take the signal on spot. 

But if you've missed it or if there were news just after seed, or if there was open going and you were cautious about the Market open "chaos" and Gyration then you could wait for it to breakout. The downside is that you might miss the trends sometimes, just like if you did it on DAX today, you'd have missed a 400 points move. 

But if you did this on NASDAQ today, it was a WINNER. 

 

[immy]

TC = Trend Candle (It has more body and small wicks, its bigger than usual bullish/bearish candles but its not too big)

WR = Wide Range Candle, its usually as big as TC, sometimes even bigger, and has more wicks and a smaller body

CTC = Climactic Trend Candle, its a trend candle with mostly body and small wicks, but usually its double the size of a Trend candle and shows that the market might be stretched and has gone too far too fast away from averages. 

 

[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
 


 

this is really nice, thanks for making it available

 

I have updated my Have You Checked Your Charts Table 
 

[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
 



 

this is really nice, thanks for making it available


 

I have updated my Have You Checked Your Charts Table 
 

 

 

[immy]

I am a very ADHD person. I twitch and jump and talk and get emotional and laugh and cry and do lots of things within a very short period of time. 

There are periods when I create, delete and add and remove so many indicators and templates that exhaust me. 

I wanted to remedy this. So I put reminders on my wall. One of these reminders is to NOT CHANGE ANYTHING. Here is what I have printed and laminated on to my "wall". (along with many other things) 

DO NOT CHANGE 
 
ps: Do not post in the forum/discord because I sometimes post too many times. Just like I talk a lot,I post a lot as well. IT is for this reason I got rid of Discord. So the rule is to post, ONLy when necessary. 
 

[immy]

The BANANA Technique [The Trading Course]
 

These are the 9 Markets I shall be trading on the Hourly charts using the HUNT 2.0 Method 

Questions that Help Create the Entry Setup

Edited 23 March 2022: 




These 7 Questions help understand when to take the Banana Signal. 

The 7 RULES to Qualify The BANANA Signal EXPLAINED with Examples



 
 Ask these Questions to Qualify a Banana Signal: 

 Question 1: Is there an Impulse Move?  Is there a Breakout with a Higher High or Lower Low?

Explanation:

There is a good Impulse move with at least 1,2 or 3 trend candles that has little to no wicks. If there was a trading range before then there must be a Breakout. A breakout can happen out of a Trading Range or if there is a confirmed trend, there must be a New Higher High for Longs or New Lower Low for Shorts. I am looking for 2-3 Trend Candles that break out of a trading range or when there is a trend I am looking for a new swing high or low.

 Question 2: Is there a good pullback? 

Explanation:

After an impulse move price takes 1-2-3 up to 5 candle pullback before it enters past 10 ema. The pullback candles are often smaller in range while the 10 and 20 lines are still separated and pointing up or down.  Best Single Leg pullbacks end near 10 while the best 2 legged Pullback ends near 20. I only take single-legged pullbacks. 

 Question 3: Is the Impulse move too climactic? 

Explanation:  

Price should not be too far from Dashed Line. I don’t want signals when the Rubber Band Effect is present which means the price went too far too fast away from breakout and the moving averages.  

 Question 4: Is the Pullback Impulsive? 

Explanation:

The pullback candles have a smaller range compared to impulse moves. You want to see smaller candles like inside candles, dojis etc.  If the pullback candles are equally or more impulsive than the impulse candles or if the price goes back inside the trading range then filter the signal. (The 10 ema (or the 5ema i.e dashed line)  should not point down.) 

Link 1

 Question 5: Is this the first or the second pullback?

Explanation: 

We want to trade trends and we want to get in relatively early into the trend. Not too early, but not too late either. Hence we want to get in on the first or the 2nd pullback. The probability of bigger winners, higher risk to reward ratio trades, drops as the trend develops. So, the best is to take 1st and 2nd or maybe sometimes a 3rd pullback but nothing after that. 
(Link 1, Link 2) 



 Question 6: Is there an S/R Level near Entry Level?

Explanation: 

We want to trade within the trend, which means there are supposed to be no support and resistance pivot zones near or on the left of the entry levels. We will see swing highs and lows within trends but swing highs and lows are not always support and resistance levels. 

If yes, do not trade until that level is clear. The S/R level should be a Trading Range High or Low from the HTF. e.g. when trading H1/M5 H1 should be out of TR. For M5/M1 it should be either or both. 

 Question 7: Is M5 (the next higher time frame) Breakout Phase or Pulling Back?

Explanation: 

Ideally, the chances of success will be higher if there is a trend going on in both current and higher time frames. But this is not a holy grail or a secret cheat code.  Generally, if the higher time frame (D1 for H1 or H4 for H1, M5 for M1) is showing a Breakout Trend then wait for a pullback on the m1. If the m5 (of higher time frame) chart is showing pullback, wait for at least the high of the m5 candle to be broken. You must understand the Market Cycle to understand this. If you don't, its ok but will be best to learn the market cycle. 



 

=============================================================================
 Edited Out Previous Rules as of 6 Feb 2022

The following Questions no longer applied. Effective 6th Feb 2022
Question 1: Is there an Impulse Move?

IF yes then go to Question 2, If No then-No Trade 

Question 2: Is there a shallow pullback? 

If Yes then go to Question 3 else no trade. 

Question 3: Is there a tradeable signal? 

=======================================================================================
 
Edited Out Previous 4 Rules as of 23 March 2022

4 Rules to Create The Banana Signal

Four Rules to Qualify The SetupRule 1: There is a Breakout with a New Higher High or Lower Low and 
Rule 2: There is a good Impulse move with at least 1,2 or 3 trend candles that has little to no wicks
Rule 3: There is a pullback towards the dashed line and/or retest of the previous level to the left. The pullback smaller candles do not pullback more than the black line.
Rule 4: The Pullback ends with a Banana Signal. 

IF yes, Set a pending order with 1R SL using the range of the signal candle and 2R Target point. 

If no, then wait for the signal and no trade for now. 

If Order is not triggered and another signal appears, delete the first order and set a new order based on the new signal. 
==========================================================================================================
 
 
 
There are 2 Setups I look for.

Everything STARTS with a Tight Trading Range. 

✔ So Look and WAIT for Tight Trading Ranges... and then

✔  Wait for a Breakout.... 

✔  Then wait for pullback 

✔ Then wait for Signal .... Sounds simple right? 

It is! 
 
 Two Types of Setups.png
 
Banana Flowchart 1 

 bfc.png
 

Banana Flowchart 2 

 BFC2.png
 
 
 
 
 
 
 
 
 
 

 

Still Doing this... will continue to do this... this WORKS.... 
 

[kakaman]

The 7 RULES to Qualify The BANANA Signal EXPLAINED with Examples



 

Hi Immy
In question 6, you mentioned that swing highs and lows are not always support and resistance level, If you can explain more.
Your sincerely
 

[immy]

The 7 RULES to Qualify The BANANA Signal EXPLAINED with Examples





 

Hi Immy
In question 6, you mentioned that swing highs and lows are not always support and resistance level, If you can explain more.
Your sincerely
 


 

Answered in discord today 23 Sep 2022 to miro's question 
 https://discord.com/channels/1002857168 ... 0944797697
 

[immy]

Trend 
Trading Range within Trend
Breakout and Signal