Attached is an illustration of alert candles that are followed by entry candles, one or two candles later, on M1.....with good stop placements on Friday for RC setup on EURJPY. When you time your entries using RC on M1, regardless of the type of trade you are going to enter, there is often no heat on the trade. Wouldn't take every trade here...the congestion in the middle not ideal, but had you every alert marked, placed a tight stop, all those entries would have got to break even or very small loss with a couple of pretty good winners.
Ideally, you are doing one of the following:
1) You are away from the D line and looking to trade back to it - it's a rather obvious turn of the price and an obvious place for a tight stop.
2) You are at the D line and the price is consolidating....so you are looking for price to break away.....again, with an obvious place for a tight stop...this is the toughest place to trade, when there is obvious consolidation and that is when you look to M5 for some guidance for what to do
3) You are in a move and see a retrace to the D line with a continuation in the same direction...and once again, an obvious place for a tight stop.
Good luck with your trading for the week.
Cheers
Ideally, you are doing one of the following:
1) You are away from the D line and looking to trade back to it - it's a rather obvious turn of the price and an obvious place for a tight stop.
2) You are at the D line and the price is consolidating....so you are looking for price to break away.....again, with an obvious place for a tight stop...this is the toughest place to trade, when there is obvious consolidation and that is when you look to M5 for some guidance for what to do
3) You are in a move and see a retrace to the D line with a continuation in the same direction...and once again, an obvious place for a tight stop.
Good luck with your trading for the week.
Cheers