#2 - Price Action 4H - 1H - 30M
4H: Identify trend following of 4H
- Buy when uptrend
- Sell when downtrend
- Wait if sideway
1H: Observing the price action at the key level (breakout, retest, false break)
30M: Finding the best entry for perfect Risk/Reward ratio
- Buy when uptrend
- Sell when downtrend
- Wait if sideway
1H: Observing the price action at the key level (breakout, retest, false break)
30M: Finding the best entry for perfect Risk/Reward ratio
Note
4H is uptrendNote
1H: Price is break-out and re-test the key levelNote
30m: waiting for a good entry to buyNote
Open 15m chart for a deep look into the price actionNote
15m chart: Waiting for a perfect entry when the price break-out and re-test this area,Note
15m chartPrice break-out, waiting for retest
Note
Patience is a keyNote
Wait for retestNote
Open chart 5m for more detailTrade active
A perfect entryTrade closed: stop reached
I absolutely can win this long. But I lost it because of my mistake for the entry. I must wait for some more clear signal to cofirm. In this case, my entry is not good enough for the retest. After my entry, it sets up a double bottom. It should be a better entry.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.