this is my gbpcad major plan for the next couple of months.
ill trade one movement by one movement till the pattern fails.
at the near of each high / low i will analyze the h4 one year to see where will the high / low finish.
my analysis & decision making process is 100% technical, i do not use any fundamental analysis related techniques.
for my technical...
in continuation with my mtf analysis, the only valuable information i could get from the wtf analysis, is the i want to the following to take place, and those are the things that i will wait for.
in order for me to execute my trading idea, all of the movements am waiting for must take place.
1- i want the current high @ 121.50 to hold for a couple of weeks.
i have two major long term target @ 126.50 & 135.00
mtf only provide me with the big picture and i do not rely on them in my actual real time trading.
my actual real time trading in terms of price, time & pattern analysis is based on the wtf and the dtf.
and then if i need i can go as down as the h4.
in terms of importance, the wtf & the dtf are my two major...
i executed this trade on three levels
1- shorting @ 128.90
2- shorting @ 129.90
3- shorting @ 130.90
i want it to break the trend line so i can get my stops to 132.50
always remember that profitable trading is a game of patience, discipline & managing your trade post execution.