Play the chart with simple rules:
Buy/Sell into entries when the candle completes above "Long Entry", or when candle completes under "Short Entry"
Have small stop losses (10-15 pips) in order to not encounter a fake out (goes above our entry line and goes back down for example)
Play with minimum 2 positions. Once trades hits TP1, change stop loss to break even, making it a risk free trade. If passes TP2, change stop loss again to TP1 to lock in profit if trade goes in reversal. Have tight stop losses to lock in profit, If trade hits TP3, closes.
If you do see a reversal (For example going from TP2 short to TP1 short, get into a BUY and have take profit @entry point)
If trade breaks through our TP3, wait for a candle to come back to it and reverse the trade back to entry.
Buy/Sell into entries when the candle completes above "Long Entry", or when candle completes under "Short Entry"
Have small stop losses (10-15 pips) in order to not encounter a fake out (goes above our entry line and goes back down for example)
Play with minimum 2 positions. Once trades hits TP1, change stop loss to break even, making it a risk free trade. If passes TP2, change stop loss again to TP1 to lock in profit if trade goes in reversal. Have tight stop losses to lock in profit, If trade hits TP3, closes.
If you do see a reversal (For example going from TP2 short to TP1 short, get into a BUY and have take profit @entry point)
If trade breaks through our TP3, wait for a candle to come back to it and reverse the trade back to entry.
Comment:
T1 HIT AND SUPPORTED PERFECTLY!
Comment:
TP 2 AND SUPPORTED PERFECTLY