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Nova Volume Trading System

  • #361
  • Nov 14, 2024 1:16pm Nov 14, 2024 1:16pm
Quoting wHo
I'm curious, would you have taken these two trades today during NY session? My analysis - price made higher highs and higher lows after a short downtrend in a bullish trend. {image}
The best signals are the ones that appear after a pullback to the moving averages during an uptrend so the best entry would have been 11 bars before your first entry with stop loss below the low.

Once price moves away from the moving averages and breaks a high it will want to soon pullback so I'd get a bit weary.

Your first entry was valid, although I do prefer there to be more red bars and a bigger pullback (it only went to 38.2 fib).

The 2nd entry I wouldn't have taken because of the abnormal volume hitting above +200 and then the volume after was lower (I have marked this on your chart below)

I also marked where I would have entered but your first entry is a mistake that is easy to make... especially with gold.

I didn't take any of those entries though.

Try focusing on the signals that appear when price is breaking out from the moving averages with signal line above zero level

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You can lead a horse to water, but you can't make it drink
  • #362
  • Nov 14, 2024 3:43pm Nov 14, 2024 3:43pm
whats everyones thoughts on this, bare in mind second line was smaller than the first so normally a sign of lowering volume and risky trade correct?

however outcome looked good?
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  • #363
  • Nov 14, 2024 3:58pm Nov 14, 2024 3:58pm
Quoting hope&glory
whats everyones thoughts on this, bare in mind second line was smaller than the first so normally a sign of lowering volume and risky trade correct? however outcome looked good? {image}
No go for me personally
  • #365
  • Nov 14, 2024 4:44pm Nov 14, 2024 4:44pm
Quoting Shinryuken
Hi, Could someone please share the code of Nova Indicator? Many Thanks in advance Regards
Its all just one persons opinion
  • #366
  • Nov 14, 2024 4:48pm Nov 14, 2024 4:48pm
Quoting Shinryuken
Hi, Could someone please share the code of Nova Indicator? Many Thanks in advance Regards
yes sure

its 2WER-23DF-234D-56BS

DONT TELL NO ONE PLEASE
  • #367
  • Nov 14, 2024 7:28pm Nov 14, 2024 7:28pm
Quoting taksistalo
USD/CAD went hard. 5.5:1 {image} {image} EUR/USD good one 5.9:1 {image} {image}
Ca I ask what are the black rectangles and where you get the from?
  • #368
  • Edited 9:06pm Nov 14, 2024 8:42pm | Edited 9:06pm
Quoting hope&glory
whats everyones thoughts on this, bare in mind second line was smaller than the first so normally a sign of lowering volume and risky trade correct? however outcome looked good? {image}
Great wasted trade. Worry about MM and not the entry.

I can appreciate meaningless indicators and effort to nail down the entry, but it is meaningless. PA will do what PA will do. MM is where it's at.

So many wasted years on FF(including mine) to search for perfect entry and not to pay attention to MM. Glad I found my HoGr in MM few years ago.

I try to preach this message in a few threads..hopefully it will help aspiring traders.
  • #369
  • Nov 14, 2024 10:37pm Nov 14, 2024 10:37pm
Quoting xkwisit2001
{quote} I like trading around now but mainly the London/US crossover when volume increases. I rarely trade London open but I am not opposed to it. For me, I just get onto the charts around now 11.30am UK time/UTC time (6.30am NY Time/UTC-5). Will then start looking for entries on Nova.
i will try that then. thanks
  • #370
  • Nov 15, 2024 2:49am Nov 15, 2024 2:49am
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GBP JPY. Major Red News at 0700, had little impact on the market. Price pulled back to the EMAs, and started to pull away. Took a small entry first as I wasn't totally confident that the news shakeout was over. The 2nd entry was not a 'new' Nova signal, (Nova was still giving a strong sell), but the start of the 15 minute rotation, and an engulfing candle, 3rd another engulfing. 4th entry was a new nova signal, and I think a mistake as the signal line was retracing and price was in consolidation. A better 4th entry was a few bars later.

I left a 1/3rd of each position open with a TP set to the previous week close (this move had some momentum, but the longer-term trend was still long).

I think I understand what driven18 is getting at, but not all indicators are useless (too many are a distraction, and relying solely on an indicator will lead to trouble). A decent indicator (i.e. Nova, but also the simple EMA and the candlestick chart), models the market, simplifying the raw tick data. Being models, they are are never 100% accurate, but some are useful. Their purpose (IMHO) is to improve situational awareness (e.g. I use fractals and EMA's to give me an 'at a glance' view of market structure), and support decision making. You can better Observe the market, Orientate to the current situation, Decide what to do and Act (John Boyds famous OODA loop).

Nova seems to offer a decent confirmation that there is momentum for an entry. You can't use it in isolation but when it aligns with market structure, key price levels, and time rotation, it is useful.

For any new traders stumbling across this thread and seeing the fantastic results, my advice is to spend time getting to understand price action, in particular the key levels (daily/weekly highs/lows) and timings (15 minute and hourly rotation). Stacey Burke Trading on youtube will give some really valuable lessons on how the markets move.

While typing this the PWC target was hit (197.65) and may well continue, but it's been a good morning.
  • #371
  • Nov 15, 2024 3:22am Nov 15, 2024 3:22am
Quoting TableTop
{image} GBP JPY. Major Red News at 0700, had little impact on the market. Price pulled back to the EMAs, and started to pull away. Took a small entry first as I wasn't totally confident that the news shakeout was over. The 2nd entry was not a 'new' Nova signal, (Nova was still giving a strong sell), but the start of the 15 minute rotation, and an engulfing candle, 3rd another engulfing. 4th entry was a new nova signal, and I think a mistake as the signal line was retracing and price was in consolidation. A better 4th entry was a few bars later....
@tablespoon can you explain please what is 15minutes 1 hour rotation is?
  • #372
  • Nov 15, 2024 4:52am Nov 15, 2024 4:52am
Talking about Market structure, retracements and Fibos.
There´s a not-so-secret fibo: 0,86, roughly the square root of 0,76.
The point is it tends to be very powerful.Even on a monthly chart.
If you mark at the beginning of the day the major points: yesterday's H/L, major swing points, and especially Day levels, then mostly the M1 chart heads towards those points (strange attractors, liquidity meat for the algos!). So it is safe to trade in the 100EMA direction, but only till those levels are reached or are very close. That is where one might want to risk a "counter-trend trade).
Check this M1 chart this morning (Too bad I was sleeping).
EURUSD bounces on 0,86 level, at the EMA 100, and the green NOVA signal follows on the next bar.
Added confirmation,the stochastic RSI oscillator below shows 3 green levels, meaning green is oversold on 6 different settings.
Btw. EURUSD is 92% correlated with GOLD on the M5. And both are big targets for the Big Boys Algos.
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  • #373
  • Nov 15, 2024 5:20am Nov 15, 2024 5:20am
Quoting TableTop
{image} GBP JPY. Major Red News at 0700, had little impact on the market. Price pulled back to the EMAs, and started to pull away. Took a small entry first as I wasn't totally confident that the news shakeout was over. The 2nd entry was not a 'new' Nova signal, (Nova was still giving a strong sell), but the start of the 15 minute rotation, and an engulfing candle, 3rd another engulfing. 4th entry was a new nova signal, and I think a mistake as the signal line was retracing and price was in consolidation. A better 4th entry was a few bars later....
Well said! Any system shared on this site is always from someone else’s perspective and never guaranteed to work. We all have our own unique approaches, challenges, and mindsets when it comes to trading—the classic 80% psychology aspect of it.

I’ve been profitable for a number of years now. By that, I mean it pays the bills and lets me enjoy the occasional treat now and then (lol).

That said, trading is such a personal journey. We all need to find the tools that help things click. For me, it happened when I started focusing on volume and momentum, and how they align with market structure. But even then, I could never condense everything I know into one system.

That’s why I always encourage people to first understand how the market works—learn Price Action as your foundation. From there, add anything that complements your mindset, if needed.

So while Nova has been working well for me, it might not work for someone else—and that’s just the nature of this game.

One day, it’ll all click for you, and you’ll wonder why you spent so long chasing every indicator under the sun. Master market structure and price action, and you’ll have an incredible starting point.

Happy Friday, and wishing you all green pips!
You can lead a horse to water, but you can't make it drink
  • #374
  • Nov 15, 2024 5:31am Nov 15, 2024 5:31am
Quoting silentos
{quote} @tablespoon can you explain please what is 15minutes 1 hour rotation is?
This is only relevant to intraday scalpers and getting off-topic.
What I mean is, when you are focused on the m1, be aware of where you are in the M15 and H1 candles, both in terms of the OHLC AND the time (H4 too). The start of a 15-minute or hour cycle is often a good place to start looking for an entry. If you're into the last 3 or 4 minutes of a 15 minute cycle, be sure of the entry as there tends to be a pull back at the end/start of the cycle (same for hour) - these are the candle wicks on higher timeframes. In a trade, monitor price at the main levels (25,50,75,00 for FX and 50/00 for gold), AND time rotations (ready to close out some or all, add in, adjust my stops or do nothing). Take a look at sessions that have traded well. They will be 'well-engineered' with a spike around the H1 rotation (or half past for the NY equity open), then 2 or 3 M15 candles that really move the price, followed by consolidation for 15-45 minutes, then a continuation or reversal.
  • #375
  • Nov 15, 2024 5:39am Nov 15, 2024 5:39am
Nice quick morning trade - 4.5R

TV:
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MT4:

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You can lead a horse to water, but you can't make it drink
  • #376
  • Nov 15, 2024 5:43am Nov 15, 2024 5:43am
Gold awesome this morning
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  • #377
  • Nov 15, 2024 5:56am Nov 15, 2024 5:56am
Quoting MoochMooch
Gold awesome this morning {image}
Bravo Mooch!
You can lead a horse to water, but you can't make it drink
  • #378
  • Nov 15, 2024 6:25am Nov 15, 2024 6:25am
Took that maybe last test of yesterday´s high for a 2,6R.
Thanks xkw!
I will start making notes on Excel on the dreaded sideways periods on M1: how many EMA 100 clear closed candles until it finally runs away in one direction.
The last one this morning was 4 times, between 12 and 12:31.Then it ran up.
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  • #379
  • Nov 15, 2024 6:30am Nov 15, 2024 6:30am
A picture better than words, I menat clear separation from the EMA, after crossing.
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  • #380
  • Nov 15, 2024 6:30am Nov 15, 2024 6:30am
Quoting cuchuflito
Took that maybe last test of yesterday´s high for a 2,6R. Thanks xkw! I will start making notes on Excel on the dreaded sideways periods on M1: how many EMA 100 clear closed candles until it finally runs away in one direction. The last one this morning was 4 times, between 12 and 12:31.Then it ran up. {image}
If the EMA's are flat or very close to each other then price will just range. I just mark the high and low and wait for the first strong breakout and wait for a retracement to start entering.

The key is waiting for the EMA's to fan out again either up or down and wait for that first pullback to start rocking on!
You can lead a horse to water, but you can't make it drink
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