dojirock wrote:Two time frame trades...(master one time frame 1st),
this is the zone on the 15 min time frame today on gbp/usd.
I post this to show that I would have gone taken a short if the candle under the pink arrow would have closed in the zone. Instead it closed above the zone and with momentum. See how the momentum of the bullish candle broke the top of the zone which was the bearish 15 min momentum line?
Hence the long.... then its a matter of holding as long as there is no bearish momentum that breaks the bottom of the zone with momentum.
this worked out on 1st trigger for long. My point is had the one 5 min candle closed in the zone instead of above it with momentum I would have gone short no questions asked. 3 candles later another bullish momentum that dominates above the zone...then I would instantly reverse.
The reversals account for over 20 percent of my success rate.
I will post an actual fail and reversal when I actually get one.
doji2017-04-18_2304.png2017-04-18_2303.png
Im gonna have to go over this post, but took 6 trades tonight. 5 winners and 1 still open. +120 pips