Pro Trader wrote:Hi Withnail. How have you modified the fibo tool to show the risk:reward?
Could you breakdown your thought process to drawing s&d lines, boxes?
This is one area where i dont have a methodical way of doing it...and is what I need to use them.... is there such a thing?
Pro Trader wrote:Hi Withnail were your trades above just off the daily extreme or did you consider higher tfs?
Pro Trader wrote:Another thing I wanted to ask is how you trade from higher tf charts.
Consider the chart below which shows a trade I took on Friday off a H4 supply with a nice R:R. I took the trade with an entry at the bottom of the yellow shaded area and sl just above it and let it run down to the demand below.
Do you take H4 trades in a similar fashion or do you drop down to smaller tfs from a better entry?
For example the chart below is a H4 chart of EJ with what could be described as supply depending on your criteria.
This chart shows the same area but on the 30m where there is supply further up within the H4 supply.
My question is, assuming it met your criteria would you take the trade from the H4 level or from the 30m level within?