brettnchrism wrote:
Good morning thanks for letting me join. Today was a good day made +13 after news slowed down.
This is how I have been trading or at least my rules for entry/exit. First chart audusd hour candles all up, I draw my line in the sand under each open and follow it up.
As soon as I get a M15 close below in this case I start looking for entry. Normal non news days I will wait for price to come back to the line or close to get in. I watch price action on m5 if I start getting rejections before the line I will enter.
For targets I use H4 zline. Today first H4 zline was 15 pips away minus spread I took +13.
My exit is a M5 close across my line in the sand or I see M5 showing reversal. Today with NFP it moved pretty fast to my target.
This is very close to a basic Fund technique called ''Cap-and-Follow''. Very simple and effective.