Disliked{quote} just little friendly advice, keep your researching levels, try find out why pa reacted at certain levels etc etc, I note it is a 4hr chart, fairly compressed. so is a huge time span. My advice is to I prefer start with monthly or then weekly then daily etc etc just keep working down the time frames "just" focus on nearest or next S/R for each time frame, once you have these levels, 2 per time frame, then decide which time frame you are going to actually trade, this will of course be determined by the closest S/R, say its monthly or weekly...Ignored
Been pretty busy coming into exam period haven't been posting too much.
Found a nice hedge to my net EURUSD shorts in the EURNZD. Bias on NZDUSD is short, hence the rational.
Yeah to your post, i use H4, Daily and Weekly to identify entry/exit points, but I use M15 to attempt to get the very best position, closest to the mark
I break the market up into sections by the different S/R levels, then trade in sections accordingly..
Tends to work... In theory would have SL outside each section and entry/exit within.
Even the worst trade can close with profit. Just give it time.