Intraday Trading Levels based on Price Action analysis. No indicators used. These levels are for Fast in Fast out trades. The levels are updated everyday. There are 3 Support (Red Lines) and 3 Resistance (Red Lines) levels shared for each pair.
You can open a position opposite to the current movement, knowing in advance that it will be profitable with a certain probability. Always divide your position size into 3.
Position 1: 25%,
Position 2: 25%
Position 3: 50%
For example:
Entering Trade
The first R level has hit. Open the first sell entry with for example 0.10 lot size. If the price goes against you, open another entry at the second R level with 0.10 lot size. Finally, if the price drops to third R level, open a position with 0.20 lot size.
SL
Stop loss to be set at 20 pips below the third SR level. Do not take more than 1-2% risk of your total equity. Set your lot size accordingly
TP
Take profit is open. Our preferred method is to move SL to cost after the 10 pips movement. If all three positions are active, close the trade when the total of three positions are in profit.
Do not enter the positions if price hits the levels second time. These Intraday levels are for one touch only.
Calculations are based on the historical data and history doesn’t necessarily repeat this particular day. Recall, that mentioned probabilities are not 100% and do not guarantee risk-free trading. Do not risk what you cant lose. Always practice on demo account first. We do not take any responsibility for the losses. Manage your positions accordingly.
You can open a position opposite to the current movement, knowing in advance that it will be profitable with a certain probability. Always divide your position size into 3.
Position 1: 25%,
Position 2: 25%
Position 3: 50%
For example:
Entering Trade
The first R level has hit. Open the first sell entry with for example 0.10 lot size. If the price goes against you, open another entry at the second R level with 0.10 lot size. Finally, if the price drops to third R level, open a position with 0.20 lot size.
SL
Stop loss to be set at 20 pips below the third SR level. Do not take more than 1-2% risk of your total equity. Set your lot size accordingly
TP
Take profit is open. Our preferred method is to move SL to cost after the 10 pips movement. If all three positions are active, close the trade when the total of three positions are in profit.
Do not enter the positions if price hits the levels second time. These Intraday levels are for one touch only.
Calculations are based on the historical data and history doesn’t necessarily repeat this particular day. Recall, that mentioned probabilities are not 100% and do not guarantee risk-free trading. Do not risk what you cant lose. Always practice on demo account first. We do not take any responsibility for the losses. Manage your positions accordingly.
Trade active:
3 Positions active. Waiting for the total to be in profit to close trade
Trade closed manually:
Close all three positions in small profit overall because we dont recommend holding positions over weekend if not in losses.
Comment:
If we manage the positions well, 95% of the times, we will be able to close trades without any loss or in small profits in worst cases