[quote=pamc;12871432]{quote} hi Princiano. Here is my take on best entry method. It takes alot of discipline and stops you from jumping in and getting DD's. Remember, nothing is easy. we all have to be super alert to whats happened and happening. You see the daily direction, and at what level on the daily you are at. if that shows at upwards level 1 for instance and its building thus reflected on 4hr chart too, I would draw lines on bottom and top of 4 hr PA. within the JB box zone and wait for a wedge formation and when you get a fake out below large enough to take out stop losses below (bear in mind these would be 10-50pips below). That would be a value entry below the lower PA trend line. The closer to the lowest point in the wedge, the better. Usually, this would happen close to the narrowing of a wedge if formed. This way by entering below you are minimizing your drawdown if any, as we have the directional bias up but enter at real value. as for entering stop losses, if you want to use one, (around 50 on the 4hr chart) initially is below that down spike for the sl's. you can then move it gradually into slight profit when it breaks up and then when well on its way to 2nd level trail further up another say 20pips higher. Be prepared for the retrace that will happen though. Get a blank chart and try that out marking that out over the past 6 months and you will get a better feel for entries etc. Being able to see the stop losses and the sell stops and buy limits below the Jail and wedge if any, will confirm the down move likelihood before the commencing upwards, as MM will want to trigger and offload them before the final move to the next JB level. In that case you wait to confirm the stops and pendings beneath zone have been taken. After that, when the upper break out is well on its way it will eventually reach another JB zone to be formed area. That is usually recognized by an impulse move at the end of the move up and then the settling into the RR tracks moves which would offload buyers entering towards the end of the impulse. You can be pretty sure that an impulse taking you up to a previous structure on the left is actually taking out previous sellers stops at that structure. That is a TP target for us. Then the RR starts. Then rinse repeat at the next level. By taking profits either after the impulse to previous structure or at any of the higher tests within the JB zone , you bank and lock in alot and psychologically out of a trade relaxed and waiting again for another better timed entry to continue up. You can use Prozors JB EA well for this. Make sense? Poker has posted a lot of good stuff. You need to familiarize better. You also downloaded those pdfs. use them to assisting recognizing the MM setting up prior to their moves. Remember we cant all trade like RON. He is a natural trading monster that ha
Excellent post bud.
Excellent post bud.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
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