The BANANA Technique [The Trading Course]

[immy]

Hey Minsk

Those grey signals in the video don't exist now, they have become part of the new banana. the grey ones on my screen are a beta version not release, if you chose filter 50ema the ones going against 50 show as grey. I have not found them super useful so far. Just creates double thinking 

cheers 

[immy]

The 5R target works best if you use a stop loss of 1ATR or lower. That is why, we filter the trades with bigger stop losses.

E.g. under normal circumstances, normal volatility, GU and EU should be trade with a max of 20 stop loss and UJ 15. DAX around 40 or 50 max. 

GU these days is highly volatile so even 50 pips (1 ATR) seems ok. 

When you want to trade but SL is bigger than instead of 5R you should go for an obvious level to the left be it 3, 4 or 5R 

Hope you understand this, if not, ask away and I'll reply. 

[immy]

1. he h1/m5, is not a straight forward setup though.
2. [10:49]
   You have to be able to assess the situation on the h1 and the pair and market as a whole. on paper it looks so simple and easy. and after letting other test this technique I have found that perhaps this is my unique skill.
3. I have over 80% win rate on this. so definitely NOT just "follow the signal" or setup... it requires some expertise. but definitely worth learning.
4. [10:50]
   one thing is 100% absolutely correct you can't stay on m5 to catch these. you have to be on h1 and be following the market for a while to know when exactly to drop.
5. [10:50]
   having said that, the 2nd trade was easier and clearly a H1/M% setup... why?
6. [10:51]
   because you'd have seen a TC, as I pointed out, on the h1. then you drop to m5 after you've checked that the TC has broken out of a TR... now you're looking for entries so you drop to m5.
7. [10:51]
   but also since we know that afte a couple of 3 TC on h1 there is a pullback, then you will get a chop on m5 and a pullback on h1
8. [10:51]
   hope it makes sense.

Screenshots 

1.png

1. the ability to read clean momentum is a powerful skill. very useful in trading.
2. [09:57]
3. In fact, this skill of reading momentum and being able to differentiate between choppiness and smoothness is the KEY, particularly for the method we use.
4. [09:58]
   2.png
    
   exit 3R

3.png

 

1. looks I got out a bit early.
2. [10:06]
   I also think that, we must hone our skill to catch some h1/m5 trades. its an important second skill for when trading the hourly time frame. ... the skill to know when it is the most opportune time to drop to m5 and take a trade in line with momentum and in line with the momentum of the hourly chart.
3. [10:06]
   this skill will help you vastly during times like these when most h1 charts just go sideways.
4. [10:13]
   exit would have been 3R ... so I was right. anyway that does not matter, whatever you plan before entering the trade must be followed

here is how to read the market... is this third pullback also worth taking?

 

2022-10-25_11-00-24.png

 
Answer 

 

2022-10-25_11-02-45.png

 
 

[immy]

[immy]

Hi 

Sorry been on a break.... 

Just wanted to share a picture of a classic Break and Retest Banana Signal 

 

[immy]

Hi 

Sorry been on a break.... 

Just wanted to share a picture of a classic Break and Retest Banana Signal 

 


 

more examples 
 
 

[immy]

Hi 

Sorry been on a break.... 

Just wanted to share a picture of a classic Break and Retest Banana Signal 

 







 

more examples 
 
 





 

A few more charts but a Bit advanced levels... don't do this but can study it.... (for now) 

Once you have identified the RIGHT swing level... and then confirmed the BREAK .... you can make the entry "cuter" with even a bigger lot size, hence a bigger Risk to Reward Trade.... 

Examples H1/M15

 

2023-02-27_19-03-41.jpg

 

2023-02-27_19-04-39.jpg

 

 
 
 
 
 

[immy]

1: Break and Retest of a Swing High or Swing Low within an Up trend or Lower Trend, respectively. 
2. Break and Retest of a Trading Range. 

 
 
 

[Darren]

Great examples - thanks Immy 
 

[immy]

I went through 24 months of data and found out a particular type of signal that has cost me the most amount of losses. 

Here I would like to show some screenshots to show which type of signals I try to avoid or should be avoiding. 

AVOID: Signals when you see a REJECTION of a Level. AVOID anticipation of a BREAKOUT of a Trading Range. 

Continuation vs Trend Change Signals: 

 

2023-03-22_09-24-55.jpg

 

2023-03-22_09-21-06.jpg

 

2023-03-22_09-18-23.jpg

 

2023-03-22_09-12-27.jpg

 
Take these type of Signals to GET FUNDED QUICK. 

Win Funded Account Challenge in 1 Trade or Two.jpg

 
In the previous example we saw a failed long signal which appeared at the trading range high (a failed breakout). But here a couple of day later we see a further rejection of the highs and then a signal to the short side. These can be taken if you know why you're doing it. Else wait for the break of this TTR then trade the Retest. 

2023-03-22_09-31-49.jpg

 

2023-03-22_09-35-05.jpg