4H: Identify trend following of 4H
- Buy when uptrend
- Sell when downtrend
- Wait if sideway
1H: Observing the price action at the key level (breakout, retest, false break)
30M: Finding the best entry for perfect Risk/Reward ratio
- Buy when uptrend
- Sell when downtrend
- Wait if sideway
1H: Observing the price action at the key level (breakout, retest, false break)
30M: Finding the best entry for perfect Risk/Reward ratio
Comment:
4H is uptrend
Comment:
1H: Price is break-out and re-test the key level
Comment:
30m: waiting for a good entry to buy
Comment:
Open 15m chart for a deep look into the price action
Comment:
15m chart: Waiting for a perfect entry when the price break-out and re-test this area,
Comment:
15m chart
Price break-out, waiting for retest
Price break-out, waiting for retest
Comment:
Patience is a key
Comment:
Wait for retest
Comment:
Open chart 5m for more detail
Trade active:
A perfect entry
Trade closed: stop reached:
I absolutely can win this long. But I lost it because of my mistake for the entry. I must wait for some more clear signal to cofirm. In this case, my entry is not good enough for the retest. After my entry, it sets up a double bottom. It should be a better entry.
