Greetings all
Been pre-occupied on other stuff but am getting back to trading again in the new year.
Implemented a few tweaks to the overall approach looking at overlaying Supply & Demand - main issue is keeping the charts clean, so very conscious of adding stuff that does not add value.
I have been running with a revision on the TP and SL settings but am still keeping with placing two trades at entry, only now TP1 = 1xATR7 and TP2 = 3xATR7.
Once TP1 is hit, move TP2 to BE and then manage the SL manually. You also have the option of moving to the H4 to pick up on the Add-Ons as per the training charts.
SL for both trades is 1.5xATR7 OR the previous Fractal, which ever is the lowest value, so if 1.5xATR7 = 150pips and the nearest Fractal is 100pips away from the entry position, then set to a few pips above the Fractal if high, or a few pips lower than the Fractal if low.
I have been manually drawing these for a while now and have found an indicator that does the job well.
Here's the revised template and the new Supply / Demand indicator.
With the new indicator, watch for the PA as it enters a S/D zone - usually it'll lose momentum and then reverse - unless it blows through and breaks the zone! As it exits a zone, look for an entry point. Wait for the day candle to close before entering!
Been pre-occupied on other stuff but am getting back to trading again in the new year.
Implemented a few tweaks to the overall approach looking at overlaying Supply & Demand - main issue is keeping the charts clean, so very conscious of adding stuff that does not add value.
I have been running with a revision on the TP and SL settings but am still keeping with placing two trades at entry, only now TP1 = 1xATR7 and TP2 = 3xATR7.
Once TP1 is hit, move TP2 to BE and then manage the SL manually. You also have the option of moving to the H4 to pick up on the Add-Ons as per the training charts.
SL for both trades is 1.5xATR7 OR the previous Fractal, which ever is the lowest value, so if 1.5xATR7 = 150pips and the nearest Fractal is 100pips away from the entry position, then set to a few pips above the Fractal if high, or a few pips lower than the Fractal if low.
I have been manually drawing these for a while now and have found an indicator that does the job well.
Here's the revised template and the new Supply / Demand indicator.
With the new indicator, watch for the PA as it enters a S/D zone - usually it'll lose momentum and then reverse - unless it blows through and breaks the zone! As it exits a zone, look for an entry point. Wait for the day candle to close before entering!
Attached File(s)
"To live with Passion, it takes Courage and Grace to survive"
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