Again, people are different, but this is how I do my TPs. I have already taken my 1st TP at a 3:1 Reward:Risk ratio, so this trade is already a winner for me!
I have also put in my other TPs BEFORE the demand levels (Don't be greedy!!!) which I have not drawn on this chart. I have also put a note on the chart with regards to my last TP.
This is how I manage my trades. We all do things differently. Remember, I work full-time, so I cannot view my charts every minute of every day.
Find out what works for you and what you are comfortable with... there is no right or wrong!
Also... See how price extended itself into the supply zone... it became exponential... a sure sign of reversal as all the novices bought right into supply before sellers like myself come in! This is called price exhaustion!
I have also put in my other TPs BEFORE the demand levels (Don't be greedy!!!) which I have not drawn on this chart. I have also put a note on the chart with regards to my last TP.
This is how I manage my trades. We all do things differently. Remember, I work full-time, so I cannot view my charts every minute of every day.
Find out what works for you and what you are comfortable with... there is no right or wrong!
Also... See how price extended itself into the supply zone... it became exponential... a sure sign of reversal as all the novices bought right into supply before sellers like myself come in! This is called price exhaustion!