15M EU 50% RETRACEMENT ENTRYDue to the Monthly TF Line in the Sand analysis I will be looking for Bearish entries above the line and Bullish entries below.
The 50% retracement strategy that I use is a very simple construct that can be applied on any time frame. It is in fact the reason for the line in sand based on the Monthly time frames most recent swing high/low.
This 15m example demonstrates the placement of the Entry, Stop and initial target of this system.
Setting the initial target at 1-2 (Risk to reward) allows me to become risk free in the most efficient way possible.
Once the 1-2rr target is met I will close 50% of my position and move my stop loss to the entry line. This action will secure profits equal to the amount risked and allow the remaining 50% of the position to potentially continue to Target two at 1-4rr.
Should Price return to stop out the position I will still have secured a 1-1 Risk to reward ratio.
