1H Sl got hit:
lukx zline trading log + cfabian p.35 + adaseb p.48
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Good stuff this. We're getting somewhere now ! Very encouraging to say the least.
First of all, this can happen. loosers will happen; just keep them small.
Secondly, look how long it took for that one last down momo before the actual reverse (the non-momo) to happen. I would say that that signifies a big orderflow from the institutions that keep price in this area. That is why you might want to consider letting the mofo breakout and THEN wait for the pullback.
It sounds terribly complicated, but it isn't. You just need to LTTL (Look To The Left) to see the context of the trade you're looking at.
First of all, this can happen. loosers will happen; just keep them small.
Secondly, look how long it took for that one last down momo before the actual reverse (the non-momo) to happen. I would say that that signifies a big orderflow from the institutions that keep price in this area. That is why you might want to consider letting the mofo breakout and THEN wait for the pullback.
It sounds terribly complicated, but it isn't. You just need to LTTL (Look To The Left) to see the context of the trade you're looking at.
There's no business like [strike]show[/strike] covid19 business.
lukx wrote:hmm, I noticed that also...but based on what I should place SL when I enter exactly at Zeroing line?
If you enter based on an M5 MZ inside an H1 MZ you want to put your s/l just on the other side of the M5 MZ. This usually is a very small stop, that won't cost you much pips if you loose. You need to watch the PA on M5. Watch for opportunities to trade pullbacks to the ZL. If price happens to turn around, you will notice it.
There's no business like [strike]show[/strike] covid19 business.
PTG wrote:lukx wrote:hmm, I noticed that also...but based on what I should place SL when I enter exactly at Zeroing line?
If you enter based on an M5 MZ inside an H1 MZ you want to put your s/l just on the other side of the M5 MZ. This usually is a very small stop, that won't cost you much pips if you loose. You need to watch the PA on M5. Watch for opportunities to trade pullbacks to the ZL. If price happens to turn around, you will notice it.
I signed out and had to come back cause this was playing on my mind and in the meantime PTG posted
I was thinking the same thing....knowing where the resistance/supply level was on the h1 is important but as this was scalping back into the retrace I would have set my SL AND TP based on the 5m entry not the h1....
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