Hope everyone is having a nice summer & even nicer profits.
I had some time to share this and so wanted to quickly show how I'm currently using market structure with this strategy because it is paying off big time.
This is the 4-Hour chart and what I looked for was a break of structure of the previous higher high & you can see where it happened on the white horizontal line.
After that I can assume that we are in an uptrend - higher highs and higher lows.
Then I proceeded to go to the 1-Hour chart and waited for the mini downtrend in that time frame - lower lows and lower highs or the pullback in the 4-Hour to end.
How did I know you ask...
I went to the 15-Minute and observed a change of charater meaning that the last higher high of the lower time frame was broken by a push/move up.
Honestly now that I see this I could have waited for the confirmation & what we call the continuation trade but I just entered a buy and managed to get a 3:1 R:R - that was the previous 4-Hour chart high.
Also I can share the videos where I based this type of MTF analysis if anyone wants it.
I want to add that if you followed RH rules you would only exit when 2-3 indicators would tell you but I decided not to be greedy and take that nice risk to reward ratio I managed to have.
I had some time to share this and so wanted to quickly show how I'm currently using market structure with this strategy because it is paying off big time.
This is the 4-Hour chart and what I looked for was a break of structure of the previous higher high & you can see where it happened on the white horizontal line.
After that I can assume that we are in an uptrend - higher highs and higher lows.
Then I proceeded to go to the 1-Hour chart and waited for the mini downtrend in that time frame - lower lows and lower highs or the pullback in the 4-Hour to end.
How did I know you ask...
I went to the 15-Minute and observed a change of charater meaning that the last higher high of the lower time frame was broken by a push/move up.
Honestly now that I see this I could have waited for the confirmation & what we call the continuation trade but I just entered a buy and managed to get a 3:1 R:R - that was the previous 4-Hour chart high.
Also I can share the videos where I based this type of MTF analysis if anyone wants it.
I want to add that if you followed RH rules you would only exit when 2-3 indicators would tell you but I decided not to be greedy and take that nice risk to reward ratio I managed to have.
Only the Mediocre are Always at their Best
