Just wanted to show this little trade.
This is when it can be pretty simple to trade. Price is above the 15m mas and H1 mas so we are typically only interested in long plays. You can see price has broken out long with a few big bars and then a little clutch off small bodied bars on the retrace. Things like this are easy to spot and tell you that there is momentum with the buyers but not with the sellers (otherwise the bodies would be much larger). Once we can see it is a retrace, we just need to find our way in. I missed the 10 ema touch but the green circled candle was an obvious entry. it's got no upper wick some momentum is north bound and is a decent size to show that buyers are once again back in control. With it closing back above the 10 ema it's one of them that tells you to buy without hesitation.
The 10 ema touch would have worked as well as by the rules, your stop would have been behind the 35 but there would have been some drawdown.
You could have also entered on the previous bullish candle but that one was a little less certain for me. Also, if you add the two previous candles with the entry candle you would have a lovely pin style candle into the trend.
Managed it with my new management strat and took a decent R/R.
This is when it can be pretty simple to trade. Price is above the 15m mas and H1 mas so we are typically only interested in long plays. You can see price has broken out long with a few big bars and then a little clutch off small bodied bars on the retrace. Things like this are easy to spot and tell you that there is momentum with the buyers but not with the sellers (otherwise the bodies would be much larger). Once we can see it is a retrace, we just need to find our way in. I missed the 10 ema touch but the green circled candle was an obvious entry. it's got no upper wick some momentum is north bound and is a decent size to show that buyers are once again back in control. With it closing back above the 10 ema it's one of them that tells you to buy without hesitation.
The 10 ema touch would have worked as well as by the rules, your stop would have been behind the 35 but there would have been some drawdown.
You could have also entered on the previous bullish candle but that one was a little less certain for me. Also, if you add the two previous candles with the entry candle you would have a lovely pin style candle into the trend.
Managed it with my new management strat and took a decent R/R.
Attached Image (click to enlarge)
, yes, I am a simple man with simple thinking, just dont make our trading decision too complicated then our life would be much easier.
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