Breakdown of my action steps from open to close:
1) Wait 5min orb 15min ORB form to draw FIB.
2) Wait for (S) or (R) formed on 5min 15min to draw
3) Make plans using (S)&(R) and ORB fib levels
4) Use new (S) or (R) as risk entry, pair with OrbFib levels for confirmation.
5) mange position using (S) of the trend with OrbFib's levels (S)
------------------------------------------------------------
Common Fakeout: often can be solved using 15min candle confirmation.
Reason is 5min candles can trick IMPATIENT traders before 15min close.
To wait for 15min to close, Trader has to sit n watch 3 of 5min candles to close.
Impatient traders always rushing, trying to predict/guess the result of how the candle is going to close before it close... makes no senese in logic.
They focus too much on Prediction/Guessing, it makes them blind&bias, not listening to what candles says.
1) Wait 5min orb 15min ORB form to draw FIB.
2) Wait for (S) or (R) formed on 5min 15min to draw
3) Make plans using (S)&(R) and ORB fib levels
4) Use new (S) or (R) as risk entry, pair with OrbFib levels for confirmation.
5) mange position using (S) of the trend with OrbFib's levels (S)
------------------------------------------------------------
Common Fakeout: often can be solved using 15min candle confirmation.
Reason is 5min candles can trick IMPATIENT traders before 15min close.
To wait for 15min to close, Trader has to sit n watch 3 of 5min candles to close.
Impatient traders always rushing, trying to predict/guess the result of how the candle is going to close before it close... makes no senese in logic.
They focus too much on Prediction/Guessing, it makes them blind&bias, not listening to what candles says.
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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.