This a new methodology derived from the old. It is designed to provide high probability trades set-ups with good to Great RRR on a daily basis (as opposed to 1-3 such trades per week). Since it is on a 15-minute chart and there is a 15 minute delay for posting here on Tradeview, there may be timing issues. I will do my best to post so everybody can take advantage. We will start considering trades at the European open (currently 3am est). Also, this methodology relies on a directional bias, which may Increase, decrease or change completely mid-session, so I will update the trade accordingly, so look for those changes.
Long Entry = 1.8541
Stop = 1.8511 = 30 pips
Initial PT = 1.8631
Long Entry = 1.8541
Stop = 1.8511 = 30 pips
Initial PT = 1.8631
Trade active:
3am SS 8 B
waiting on the pullback to the 15 KS (Kejun Sen) for entry
1.8543 (+ 2 pips for spread from 1.8541)
waiting on the pullback to the 15 KS (Kejun Sen) for entry
1.8543 (+ 2 pips for spread from 1.8541)
Trade active:
330am SS 7S 1B
Although there is a concern about GBP weakening, I will keep the pending orders in
Moreover, even though the 15KS has moved up, I am keeping the orders at the original level
Although there is a concern about GBP weakening, I will keep the pending orders in
Moreover, even though the 15KS has moved up, I am keeping the orders at the original level
Order cancelled:
Since this pair has broken out, with out us unfortunately, I am cancelling the trade. This trade will usually have a breakout entry as well as the pullback entry. However,I did not put it on as GBP was weakening, increasing the likelihood of limited upside or a false breakout.
Comment:
This pair did provide a great pullback opportunity and I apologize for not providing details. Going forward, I will not cancel the trade unless all opportunities are exhausted. That said, this pair and methodology should produce at least 1 solid trade per day.