rozela99

DO YOU KNOW HOW TO READ PRICE ACTION? #4

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
17 0 0
We fianly have a NEW STRUCTURE HIGH.

This gives us confirmation that we are in an uptrend.
now draw a line from the HHHC to the MRL Then from the MRL to the NSH            

We must now wait for an optimal entry point to insure we get at least a 1:1 risk to reward. To do this we must know where our stop and target will go.

To find the entry:
FIRST place your stop loss 10 pips below the most recent low (MRL)
SECOND place your target @ the New Structure High NSH            
THIRT, wait for he retracement down into a level that gives us at least a 1:1 rr

Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out