A little peek into how I catch sniper trades with zero drawdown
Sorry guys, I didn't post today, but caught a cracker gold sell. I would like to give a small insight to how I look for sniper trades, especially in London open.
If you look at the 2 red arrows, you will see that during New York yesterday, price made a high of the day at the 200ema, which acts as a resistance/support, in this case it is a resistance for obvious reasons. The Asian session High came up to test this same zone, as seen on the second red arrow. Effectively making a double top in the higher time frame, that is the 1hr chart.
Price then broke below the 200ema, as well as the 50ema(red) in the Asian/London changeover, when price broke below the 50 ema, that ema became resistance and not support, price came back up to retest that resistance as indicated with the yellow arrow. When the price could not break that ema, and instead ended with an engulfing going short, that was my perfect entry for the morning. 140pips have never been easier. Patience and confirmation are key.
This is the simplest form of my strategy, there are obviously more components to how I trade, but this is the simplest and most fundamental way for catching great entries.
Boost if you like what you see. Safe Trading
P.S. GJ is Bae!!
If you look at the 2 red arrows, you will see that during New York yesterday, price made a high of the day at the 200ema, which acts as a resistance/support, in this case it is a resistance for obvious reasons. The Asian session High came up to test this same zone, as seen on the second red arrow. Effectively making a double top in the higher time frame, that is the 1hr chart.
Price then broke below the 200ema, as well as the 50ema(red) in the Asian/London changeover, when price broke below the 50 ema, that ema became resistance and not support, price came back up to retest that resistance as indicated with the yellow arrow. When the price could not break that ema, and instead ended with an engulfing going short, that was my perfect entry for the morning. 140pips have never been easier. Patience and confirmation are key.
This is the simplest form of my strategy, there are obviously more components to how I trade, but this is the simplest and most fundamental way for catching great entries.
Boost if you like what you see. Safe Trading
P.S. GJ is Bae!!