Im trading out a new method called overbalance aka correction 1:1
The idea is simple - during a swing You find the largest correction and highlight it with a square.
Next step is to fit that square so the top line is on the HH of the current trend.
You take the position on the lower end of the square (green thumb up) and set TP just slighty above the current high.
I've made the trade from 4950 to 5495 which was pretty neat and now Im aiming for the next overbalance.
RR: 3:1
Entry: 5105-5115
TP1: 5295
TP2: 5479
TP3: 5666
SL: 4925
The idea is simple - during a swing You find the largest correction and highlight it with a square.
Next step is to fit that square so the top line is on the HH of the current trend.
You take the position on the lower end of the square (green thumb up) and set TP just slighty above the current high.
I've made the trade from 4950 to 5495 which was pretty neat and now Im aiming for the next overbalance.
RR: 3:1
Entry: 5105-5115
TP1: 5295
TP2: 5479
TP3: 5666
SL: 4925
Trade active:
First TP Hit at 5295
Trade active:
Second TP hit at 5479
Trade closed: target reached:
Third TP hit at 5666!
Trade closed.
Trade closed.