Orange lines - daily wave, classic ABC continuation Green/Red lines - h1 exhaustion trading levels for the daily C point Magenta lines - m15 exhaustion trading levels for low time-frame reactions
1.1765 is the last h1 model driven reversal point for the current daily wave down. It is also closely related to a 0.236 retracement of the previous daily wave up. A 1.1700 test can occur but it is not a requirement for a valid long signal which should occur in the next 48 hours. An h1 extreme candle is also about to be confirmed. If you follow the forex chat room we post some of the low time-frame entries we take using a rule based approach in order to generate risk-free trades as soon as possible.
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h1 extreme candle and m15 position building level signals pending - attempt 2
Trade active
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valid h1 signal printed for attempt 2
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2 positions @ 1% account equity each, sl more or less 100 pips per position
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After some additional consideration, 2 position @1% each sets up the risk too high. Sitting on +30 now, reducing the risk profile to 2 h1 positions @ 0.5% each. An alternate course of action would be setting the SL for one position to BE - however this action will reduce the risk to 1%, while the 1st option reduces the risk from 1% (100 pips) to 0.7% (70 pips).
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1-1 RR should be the BE point but early BE here based on m15 risk free trades are a bit more relaxing
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1-1 RR hit for 100 pips tp1 should be 2-1 RR but you guys can't take it from here
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you guys CAN* take it from here :)
Trade closed: target reached
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position 1 is done, 1.75-1RR
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updated target for long position 2 into the next short (1847)
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clearer chart
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final version with updated m15 reversal level 300 pips is ok for pos 2 with 3-1RR
Trade closed: target reached
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Outcome: 475 pips on 2 positions, account return 3*0.5%+1.75*0.5%=2.375%
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sorry for the error double post long reaction levels
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1612 inflection
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1580 continuation
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continuation position
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over 1-1RR close to +80 tp continuation ok
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continuation position 2
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risk management, partial profit continuation 2
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small 1641 continuation today, long side essentially loaded up, no chasing beyond this point
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long partial profit taking level
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looking for partial risk continuation 3 1665
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profit taking level 2, entering short setup territory final h1 tp -> short 1830-1837
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updated forecast from the short setup territory
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0.25%-0.5% pos
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management and partial i keep getting my work erased...