Last week saw a few pinched pips and also few losses. This highlights the benefit of having a good risk to reward ratio.
Weekly zone and levels are mapped based on previous week daily high-low relationship (ie Monday HL in relation to Tuesday in relation to Wednesday HL, etc). This generates a fairly accurate levels with actual price action determining trades.
SL, stoploss is usually btw 10-15pips
TP, Takeprofit is 5-10x that, with sl moving to BE, breakeven once trade pinches +20pips.
Weekly zone and levels are mapped based on previous week daily high-low relationship (ie Monday HL in relation to Tuesday in relation to Wednesday HL, etc). This generates a fairly accurate levels with actual price action determining trades.
SL, stoploss is usually btw 10-15pips
TP, Takeprofit is 5-10x that, with sl moving to BE, breakeven once trade pinches +20pips.
Trade active
Sell entry @844 sl -10pips
Note
Trade pinching +40pipsMove SL to +15pips
Trade closed manually
Trade entry @844 closed for +20pipsReentry @ 851, currently pinching +20pips
SL be
Note
Sell reentry @ 858 2 trades: +20/0 = +20pp
SL -10pips
Note
Price pinching +50pipsMove Sl to +20pips
Note
Price pinching +100pipsMove Sl to +60pips
Note
Entry 858 closed for 100pipsBuy entry 756
Sl -15pips
Note
Price pinching +20pipsMove Sl to BE
Note
Buy entry 756 closed manually for +10pips4 trades: +20/0/+100/+10= +130pp
Another week with valid zones and levels.
Have a restful week
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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.