Play the chart with important rules:
My Daily chart trades are different compared to my 15M chart trading zones. For my daily chart trading zones, we play this in-between the ranges (in-between the "Long Entry" and "Short Entry") to make money until a breakout occurs. If the candle wicks up and hits the Long Entry line (the orange line) we get into a sell position until it goes to our short entry, the Long Entry has strong resistance, and has a higher chance of not breaking through. BUT, if the candle starts to break through our long entry, around 30-50 pips, reverse the trade and get into a BUY. Ride the trade to our TP1, and place tight stop losses to lock in profit if it wicks down. Same goes for TP2, and TP3, keep changing your stop losses tighter to keep locking in more profit to insure you get as much profit as you can with minimal risk.
Same goes for our Sell Entry line (the blue line) we get into a buy position until it goes to our long entry, the Sell Entry has strong support, and has a higher chance of not breaking through. BUT, if the candle starts to break through our sell entry, around 30-50 pips, reverse the trade and get into a SELL. Ride the trade to our TP1, and place tight stop losses to lock in profit if it wicks up. Same goes for TP2, and TP3, keep changing your stop losses tighter to keep locking in more profit to insure you get as much profit as you can with minimal risk.
Also treat the TP's like TP1 & 2 like our entries, they're major resistance and support areas. For example if the candle hits Long TP2, and hits your TIGHT stop loss that you have in place, get into a sell position and ride it back to TP1, have a tight stop loss once again, and if it doesn't break below TP1, reverse your trade again and get into a buy until TP2! You can keep trading in-between these zones till a break out happens, tight stop losses are important!!
My Daily chart trades are different compared to my 15M chart trading zones. For my daily chart trading zones, we play this in-between the ranges (in-between the "Long Entry" and "Short Entry") to make money until a breakout occurs. If the candle wicks up and hits the Long Entry line (the orange line) we get into a sell position until it goes to our short entry, the Long Entry has strong resistance, and has a higher chance of not breaking through. BUT, if the candle starts to break through our long entry, around 30-50 pips, reverse the trade and get into a BUY. Ride the trade to our TP1, and place tight stop losses to lock in profit if it wicks down. Same goes for TP2, and TP3, keep changing your stop losses tighter to keep locking in more profit to insure you get as much profit as you can with minimal risk.
Same goes for our Sell Entry line (the blue line) we get into a buy position until it goes to our long entry, the Sell Entry has strong support, and has a higher chance of not breaking through. BUT, if the candle starts to break through our sell entry, around 30-50 pips, reverse the trade and get into a SELL. Ride the trade to our TP1, and place tight stop losses to lock in profit if it wicks up. Same goes for TP2, and TP3, keep changing your stop losses tighter to keep locking in more profit to insure you get as much profit as you can with minimal risk.
Also treat the TP's like TP1 & 2 like our entries, they're major resistance and support areas. For example if the candle hits Long TP2, and hits your TIGHT stop loss that you have in place, get into a sell position and ride it back to TP1, have a tight stop loss once again, and if it doesn't break below TP1, reverse your trade again and get into a buy until TP2! You can keep trading in-between these zones till a break out happens, tight stop losses are important!!
Comment:
ALL SHORT TP'S SMASHED!!