Two demand zones, one on top of another. The 1st DZ is not high quality. The 2nd DZ is high quality. (Rally based Rally) -- It had been touched this morning.
Entry: 38.5 Stop: 37; Target: 45; reward:risk=4:1
I am not a PRO trader. I need few months to practice trading strategies. If you like this idea, please use SIM/Demo account to try it, until my trading plans get high winning rate.
Trade active
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Option trade: BuytoOpen Jan C40, limit 1.79; Stop: 37
Nice, I've been interested int his method for a while as a method for swing trade/intraday, have been unable to find any literature on this method
PlanTradePlanMM
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@shawn4812, Thank you. In each of my trading plan, I need to identify: 1.Reversal candle(s), 2.Demand/Supply (Zone); 3.Sideway Support/Resistance (line); 4.Trend line break; 5.Gap;
long at demand/support, short at supply/resistance. Basic Reward:Risk=3; I tried EMA/SMA, B_band in some trades, not good. I will use Tech indicator as additional confirmation, but not the key condition to make an entry.
BakiShirzadi
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Appreciate your effort, great job
PlanTradePlanMM
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@BakiShirzadi, Thank you. I try to put all my knowledge in each trading plan, to improve my trades in 1. Reward:risk ratio; 2. probability to survive (Make even);