UPDATE EURCAD LOWER TIME FRAME ENTRY
THE PERFECT ENTRY IS OFCOURSE A RETRACE TO THE SWING HIGH LEVEL
BUT THERE IS TIMES WHEN LOWER TIME FRAMES CREATE ZONES THAT CAN PREVENT A RETURN TO THE FB LEVEL
THIS IS WHAT HAPPENED TODAY WITH EURCAD
ZONE WAS CREATED ON 1H - ITS A LITTLE MESSY AND NOT THAT OBVIOUS IF YOU ARE NOT AWARE OF THEM
BUT AS YOU CAN SEE IT PREVENTED THE MARKET RETRACING TO FB LEVEL
BUT THE OVERALL COOL PART OF THIS SET UP - YOU GET ALL THE TIME IN THE WORLD TO FIGURE OUT WHAT'S GOING ON
TRADING FROM 4H TIME FRAMES IS SO MUCH MORE RELAXING - ADD IN YOUR PRICE ACTION RULES AND YOU CAN HAVE A NICE TROUBLE-FREE TRADE
ONCE YOU TRULY UNDERSTAND ORDERFLOW/PRICE ACTION - YOU WILL FIND OUT WHAT A LOT OF NONSENSE IS BANDED AROUND ON TRADING FORUMS ETC
= ONCE YOU LEARN THESE PA TECHNIQUES YOU CAN SCALE DOWN AND LOOK FOR LTF PA TO GET INTO THE MARKET WITH A NICE RISK TO REWARD
I ENTERED THIS TRADE ON 15M TF
BUT THERE IS TIMES WHEN LOWER TIME FRAMES CREATE ZONES THAT CAN PREVENT A RETURN TO THE FB LEVEL
THIS IS WHAT HAPPENED TODAY WITH EURCAD
ZONE WAS CREATED ON 1H - ITS A LITTLE MESSY AND NOT THAT OBVIOUS IF YOU ARE NOT AWARE OF THEM
BUT AS YOU CAN SEE IT PREVENTED THE MARKET RETRACING TO FB LEVEL
BUT THE OVERALL COOL PART OF THIS SET UP - YOU GET ALL THE TIME IN THE WORLD TO FIGURE OUT WHAT'S GOING ON
TRADING FROM 4H TIME FRAMES IS SO MUCH MORE RELAXING - ADD IN YOUR PRICE ACTION RULES AND YOU CAN HAVE A NICE TROUBLE-FREE TRADE
ONCE YOU TRULY UNDERSTAND ORDERFLOW/PRICE ACTION - YOU WILL FIND OUT WHAT A LOT OF NONSENSE IS BANDED AROUND ON TRADING FORUMS ETC
= ONCE YOU LEARN THESE PA TECHNIQUES YOU CAN SCALE DOWN AND LOOK FOR LTF PA TO GET INTO THE MARKET WITH A NICE RISK TO REWARD
I ENTERED THIS TRADE ON 15M TF
Comment:
TARGET WAS 1ST APPOSING 4H DEM - BUT ITS FRIDAY AND IM NOT GOING TO BE GREEDY - THE 1H DEM IS DECENT AND A NICE AREA TO TAKE PROFIT