Hello traders,
I prepared an analysis of AUDUSD and created important levels on H1 TF where I would like to look for a buying opportunity, yesterday I opened a marked short position and my TPs are just in the marked buy zones and I already have SL secured on BE.
So the best way to take such a trade (BUY) is to set an alert and wait for the phone to ring and then wait for the signal on the lower TF and enter. Good luck!
IMPORTANT WARNING:
---------------------------------------------------------------------------------------------------------------------------------------------------------
Rebounds from marked zones created by trading positions of large institutions such as banks or various financial funds may not create new HH or LL and therefore it is very important to collect partial profits at least according to these rules. This will help you to keep your equity curve constantly growing and protect your funds from big drops if the price unexpectedly turns against you. But the decision is only in your hands.
I personally prefer setting up multiple TPs , here's an explanation:
1) 1:1 allows you to take a 50% position and thus secure a balance against loss in case the market turns
2) 2-5 :1 means profit (25% trade volume ), after reaching this TP I move SL to BE
3) 5-10 :1 means bonus money with rest of trade volume (again 25%)
Money is lying on the ground, just bend down for it! Be patient and wait for the price to reach a strong zone and open a position!
I prepared an analysis of AUDUSD and created important levels on H1 TF where I would like to look for a buying opportunity, yesterday I opened a marked short position and my TPs are just in the marked buy zones and I already have SL secured on BE.
So the best way to take such a trade (BUY) is to set an alert and wait for the phone to ring and then wait for the signal on the lower TF and enter. Good luck!
IMPORTANT WARNING:
---------------------------------------------------------------------------------------------------------------------------------------------------------
Rebounds from marked zones created by trading positions of large institutions such as banks or various financial funds may not create new HH or LL and therefore it is very important to collect partial profits at least according to these rules. This will help you to keep your equity curve constantly growing and protect your funds from big drops if the price unexpectedly turns against you. But the decision is only in your hands.
I personally prefer setting up multiple TPs , here's an explanation:
1) 1:1 allows you to take a 50% position and thus secure a balance against loss in case the market turns
2) 2-5 :1 means profit (25% trade volume ), after reaching this TP I move SL to BE
3) 5-10 :1 means bonus money with rest of trade volume (again 25%)
Money is lying on the ground, just bend down for it! Be patient and wait for the price to reach a strong zone and open a position!
As predicted...