AU Mar31 Tokyo 2pm - 1Hr SnR and 1Hr pull-back candle {image} ...
1. The 1hr Rejection Candle wick is too large. The SL is 12 pips which for AU I normally have a 3 or 4 pip SL.
2. The ADR is 58 pips and therefore there is no chance of it making a decent return before it reaches the ADR.
3. I have calculated the TP at 6255 (+30) 2.5R
I would not risk my money on a 2.5R return. Even if you hold this trade for a couple of days and make 5R it is still an average trade.
This trade is High Risk and not what I am showing in this thread.
This thread is about making exceptional returns, different from the masses that target 2R trades.
Don't get me wrong money is money.
My system uses 15m charts for the novice and 5m, 15m and 30m for the experienced.
Here is the chart so people can see what I am talking about.
You could use the 1hr as the dominant Candle and enter on a LTF to get a better return.
Even the 15m candle SL is too large.
Your trade order needs to be in the right place at the right time.
