Disliked{quote} That approach looks amazing Dane! So many confluence before taking the trade, for the highest probability trade! Thanks for sharing you thought process with us I just don't understand why you picked the setup even though the the candle bodies of the first 2 bull are not that ideal. Is it because of the other confluence factors that you listed and the clear accumulation shown in M5? People like you providing clear charts with reasons as to why they took the trade makes it a joy to follow this thread religiously and learn heaps.Ignored
Thanks,
I'll bullet point my ideas below;
- Saw the signal during Asia inside accumulation, this was enough for me to explore price on higher levels such as H1, H4 and D1.
- I get a higher view with a bigger clearer picture of who was dominating the market and where
- I could build a reasonable trade idea for the London session off the higher time frames with very small investment (risk) off M5
- The main three bar trade signal wasn't ideal but Asia set up warning, higher level confluences and small investment (risk) was a no brainer
Note, it is up to each and every one of us to develop our own trade ideas based on a situation that presents a positive expectancy. We also have to accept fully that our investment is worth a small loss to attract a significant gain!
Trust this makes sense
D...
5