i wait for 5min MoMo (not a rat trade there is difference) also know as engulfling pattern on individual candles. Look back a page or so to Dojirocks pictures on zlines, this shows what are momo .
This is process i use , here is example with 7 pip s/l
i enter a trade
1)at this point there is nothing i can do either the market will take my stop loss or it will move me into profit.
2) price move to +8 im now at 1:1 (S/L = 7 plus my spread=1 total =
. Move S.L to breakeven. (this is the thing if this trade is goodone price will rarely get back to breakeven point and just take off, and if does take you out breakeven it will produce another signal for you get back again, no big deal)
3) Next i sit back wait for price to reach 2:1 or takes my s/l @ breakeven.
At 2:1 I focused on reaching my primary target which is another zline.Also once at 2:1 stage onwards now if i see signs of weaknes within the market i can choose to take profits or lean on breakeven stoploss its up to you. If you got multiply lots in position you can cover the position.
This is basics how i manage a trade, i also play variations on this.it works. Why do i move my S/L because i want to be profitable im not interested in draining the banks
There are two forces acting upon us: Suffering pushes us forward from behind and pleasures entice us and pull us forward.