Price Action analysis. No indicators used.
You can open a position opposite to the current movement, knowing in advance that it will be profitable with a certain probability. Always divide your position size into 3.
Position 1: 25%, First Trendline
Position 2: 25% Second Trendline
Position 3: 50% Third Trendline
For example:
Entering Trade
The first R level has hit. Open the first sell entry with for example 0.10 lot size. If the price goes against you, open another entry at the second R level with 0.10 lot size. Finally, if the price drops to third R level, open a position with 0.20 lot size.
SL
Do not take more than 1-2% risk of your total equity. Set your lot size accordingly
TP
Take profit is open. Our preferred method is to move SL to cost after the 10 pips movement. If all three positions are active, close the trade when the total of three positions are in profit.
Calculations are based on the historical data and history doesn’t necessarily repeat this particular day. Recall, that mentioned probabilities are not 100% and do not guarantee risk-free trading. Do not risk what you cant lose. Always practice on demo account first. We do not take any responsibility for the losses. Manage your positions accordingly.
You can open a position opposite to the current movement, knowing in advance that it will be profitable with a certain probability. Always divide your position size into 3.
Position 1: 25%, First Trendline
Position 2: 25% Second Trendline
Position 3: 50% Third Trendline
For example:
Entering Trade
The first R level has hit. Open the first sell entry with for example 0.10 lot size. If the price goes against you, open another entry at the second R level with 0.10 lot size. Finally, if the price drops to third R level, open a position with 0.20 lot size.
SL
Do not take more than 1-2% risk of your total equity. Set your lot size accordingly
TP
Take profit is open. Our preferred method is to move SL to cost after the 10 pips movement. If all three positions are active, close the trade when the total of three positions are in profit.
Calculations are based on the historical data and history doesn’t necessarily repeat this particular day. Recall, that mentioned probabilities are not 100% and do not guarantee risk-free trading. Do not risk what you cant lose. Always practice on demo account first. We do not take any responsibility for the losses. Manage your positions accordingly.
Trade closed: target reached