I admit I haven't been too consistent with publishing on Tradingview. In fact, probably 90% of my trades don't make it onto Tradingview. This is fine, especially since some trades were executed based on lower timeframe setups. What's interesting is reviewing how my published ideas played out.
The beauty of publishing on Tradingview is that there are a few advantages. From the top of my head:
- You can only edit an idea within 15 minutes after it has been published. This means that it's not possible to edit an idea after the move has played out. Take a hint.
- Tradingview has a "Play" mode, which allows you to see how prices play out. This has been very useful for me when evaluating the reliability of my setups. This leads to the title of this post.
I recently viewed the ideas I published on Tradingview out of curiosity to see how they played out to their full extent. The conclusion is simple - the majority of the ideas where I factored in the daily timeframe played out successfully while the lower timeframe ones did not.
This is an NZDUSD idea that I published on April 7th using the daily timeframe:
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| NZDUSD Before |
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| NZDUSD After |
Here's another idea using the daily timeframe, which I published on February 28th:
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| NZDUSD Before |
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| NZDUSD After |
I don't think it'll be productive to publish all of the ideas that utilized the daily timeframe, but they did play out in a similar fashion. And just as cleanly.
On the other hand, ideas where I primarily relied on a lower timeframe such as the 4-hour did not play out so well.
For example, the below is a GBPCAD idea that I published. I also took this trade, which didn't play out despite following my entry criteria.
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| GBPCAD Before |
Analysis wise, there were a few key price action points that led to my upside bias.
- In late February, price began selling off in a downtrend.
- The bounce here indicates that price is failing to make a new lower low.
- This is a good indication to support the thesis that downside strength is weakening.
- As price breached above this level, I formed an upside bias, making a breakout play
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| GBPCAD After |
Based on the "After" chart, this did not end up holding. In fact, more intraday ideas published did not hold up.
I think the takeaway is quite straightforward. I am better at analyzing structural plays and generating signals on the daily timeframe. To improve my win rate and overall payoff, I will need to put more emphasis on the daily price reaction.
