Ok lets get down to business. I'm having a very very profitable week. I'm sitting at 190 pips just from E/U and 100 pips of E/A using the 4H method. 
Yesterday i traded off a tablet which was very difficult but managed to pull off coz my computer was down, thats why i couldnt post any charts on the forum.
Well on monday we seen a bounce off the 4H trend. So where would we set TP if we traded the bounce? As you can see in my chart i indicated a high then a low from there we will expect a lower high to form thats where you look at the resistance that PA might bounce off. If we take out our fibb we see that PA retraced to the 61.8% so thats where I placed TP of 50 pips. I made the trade in the NY session and seen that it was a good trade so i left it to run without monitoring it.
Yesterday i wasn't keen on taking any long trades as PA was against that resistance. The 4H chart showed that the candles werent closing above resistance so i had no trade for the London session as the NY session was close thats when i seen a signal to go short and scored me a 100 pips. i set TP at the neckline of the head and shoulders. I also seen the daily chart that seems to be bearish
So here we see how important its to know your basics. the 123 patterns , Wave analysis all comes in handy at times like these.
Yesterday i traded off a tablet which was very difficult but managed to pull off coz my computer was down, thats why i couldnt post any charts on the forum.
Well on monday we seen a bounce off the 4H trend. So where would we set TP if we traded the bounce? As you can see in my chart i indicated a high then a low from there we will expect a lower high to form thats where you look at the resistance that PA might bounce off. If we take out our fibb we see that PA retraced to the 61.8% so thats where I placed TP of 50 pips. I made the trade in the NY session and seen that it was a good trade so i left it to run without monitoring it.
Yesterday i wasn't keen on taking any long trades as PA was against that resistance. The 4H chart showed that the candles werent closing above resistance so i had no trade for the London session as the NY session was close thats when i seen a signal to go short and scored me a 100 pips. i set TP at the neckline of the head and shoulders. I also seen the daily chart that seems to be bearish
So here we see how important its to know your basics. the 123 patterns , Wave analysis all comes in handy at times like these.
X-man the legendary conqueror of markets
otherwise a 30pips would be nice scalping....QED.
