Just a note from my recent trading:
I have to say that I have been placing my orders at the confluence of structure and fibonacci levels 61.8% or deeper without waiting for bar by bar analysis. Most of the time it is the scariest trade ever as price just shoots up into the order but quickly stalls and reverses after just a few points +/-.
I have been trying to focus on moves that have strong momentum like EU this morning - I took the same trade as Mastermind - twice and hit the entries within 5 pips each time.
I have found that using this method so far that it has been the best wholesale price for entry. I will continue to use this for a while and see if it holds true. Why wait for the "bulls or bears" to take control when you can be the one taking control at the moment where price should want to turn around.
I have to say that I have been placing my orders at the confluence of structure and fibonacci levels 61.8% or deeper without waiting for bar by bar analysis. Most of the time it is the scariest trade ever as price just shoots up into the order but quickly stalls and reverses after just a few points +/-.
I have been trying to focus on moves that have strong momentum like EU this morning - I took the same trade as Mastermind - twice and hit the entries within 5 pips each time.
I have found that using this method so far that it has been the best wholesale price for entry. I will continue to use this for a while and see if it holds true. Why wait for the "bulls or bears" to take control when you can be the one taking control at the moment where price should want to turn around.
1