Time Frame: - 1Hr
Pairs:- E/U, A/U & G/U
- Round Number
- 200 EMA – Is one of the best Auto-adjustable Support / Resistance in any time frame & the price respects it.
- Support & resistance line / zone from the PPA patterns.
- 5 SMA(Smoothed) High & Low for the PAC.
- Candle Time
Entry Setup Long:-
Price should close above PAC with Pin Bar/ Morning Star / Engulfing / bullish Marubozu candle pattern & best if it is a bounce or the breakthrough of 200 EMA, Round Numbers, Supply & demand Line / Zone etc...
Entry Setup Short:-
Price should close below PAC with Evening Star / Hanging Man / Shooting Star/ Engulfing / bearish Marubozu candle pattern & best if it is a bounce or the breakthrough of 200 EMA, Round Numbers, Supply & demand Line / Zone etc...
Take Profit, Stop Loss, Risk Reward etc…
As a trader it’s up to you to decide all these, however I’ll tell you how I set personally.
Never set a TP unless I leave my computer. I wait for minimum of 15 to 25 pips to close the first half of the position depending on the trading session, ride the other half with BE to squeeze the complete trend.
For most of my trades I personally keep SL below the PAC / Swing low for Long & above the PAC / Swing high for short & some time I wait for the candle to close on the opposite side without a SL.
Think twice before entering a trade with a SL of 25+ Pips.
We have an advanced entry & exit method, apart from the classic one… I will keep you guys posted on that soon.
I stay out at least 1 hr before the news release... some time even the entire day. Staying away is also a good trade…
Questions / Comments ?