Weekly recap Part 1 - how to be more selective with our trades
Weekly recap, we got cut short at the end so watch out for Part 2!
We are focusing on checking the below to remove moving forward some of the losing trades that weren't valid for last week;
- Did the H4 break the ema cleanly for the new signal to be valid? As shown this was not the case on the GBP Buys for last week so they werent valid or probable.
- Do the candles indicate trading volume, i.e. long bodied candles - or low volume small bodied candles (If so wait for the market to show it's hand)
- Consider the market structure - is this is a pull back, could this be a false break of the ema on the H4 timeframe - if so wait for the next H4 candle to confirm, or wait for the pull back and retest on the H1 timeframe
- When we have a consolidating price structure - consider the use of a buy stop or sell stop order to then catch the volatility in the direction of the signal
- If the EMA is horiztonal and price stuck in range - wait for a new high or new low for the new trend to start - demonstrated in the video.
I hope this helps our members take some more care into their entries - there are substantial opportunities weekly; we are afford to me a little more selective with checking the above.
Regards
Darren
We are focusing on checking the below to remove moving forward some of the losing trades that weren't valid for last week;
- Did the H4 break the ema cleanly for the new signal to be valid? As shown this was not the case on the GBP Buys for last week so they werent valid or probable.
- Do the candles indicate trading volume, i.e. long bodied candles - or low volume small bodied candles (If so wait for the market to show it's hand)
- Consider the market structure - is this is a pull back, could this be a false break of the ema on the H4 timeframe - if so wait for the next H4 candle to confirm, or wait for the pull back and retest on the H1 timeframe
- When we have a consolidating price structure - consider the use of a buy stop or sell stop order to then catch the volatility in the direction of the signal
- If the EMA is horiztonal and price stuck in range - wait for a new high or new low for the new trend to start - demonstrated in the video.
I hope this helps our members take some more care into their entries - there are substantial opportunities weekly; we are afford to me a little more selective with checking the above.
Regards
Darren