Disliked{quote} good example of trading H4 in gu. however i want to ask if placing sl at the low of candle before entry candle is realistic? i used to do that when i first started but realised its not so realistic especially for pairs like gu. I didnt take this as i usually like to put my sl below a swing low. so i skipped this due to poor RR ratio. i do agree that 1.345 area is first tp zone. as u know gu is a really volatile pair, with brexit news etc, spikes happen easily hunting all sl.Ignored
Disliked{quote} there are several ways to trade that breakout and the initial SL will be different. - 1) use price action analysis approach, the two bars/candles back for SL will work, but you must look at the price action inside the high-low of the Master Candle. - 2) use 2 x ATR(H4) which will be 2 x 60 pips, then do your Position Size - 3) use the low of the Master Candle as you 'safe' SL and do your Position Size go with your experience and statistics.Ignored
1) 5R trade
2) 1R trade
Is there anything in between a 5R trade and a 1R trade?
YES, there are plenty other entries and exits strategies.
Just make the necessary transition to trading once every 4 hours and the daily according to your trading business hours.
Stay Tuned and you will learn more in 2021.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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