T2 – NZD/AUD

HTF SWING

downloaddownload (1)

ENTRY

Weekly/Daily/4H/1H/30mins timeframes (select 2)

[1] Ensure that price is range bound/strongly respecting S/R on the higher timeframe (✓)

[2] Go down to the lower timeframe and identify the accumulation/distribution/swing point (✓) Corrective structure

[3] Plot out ST-TL and LT-TL confirmed by the 30SMA and 150SMA. As price is range bound, will be looking for the existing ST trend to reverse. (✓) Corrective trend

[4] Price breaks and closes the ST-TL and 30SMA (✓)

[5] Stop order at the break of the accumulation/distribution structure (✓) Corrective structure

Additional confluences: Head & Shoulders, Support/Resistance on the lower timeframe, Fibonacci Retracement, Candlestick Patterns on the higher timeframe

1% capital risked for potentially 2.4R

Open: 0.917 | Stop loss: 0.928 (-110 points) | Take Profit: 0.89 (+270 points)

Remarks: A combination of the Impulse-Correction-Impulse on the 4H timeframe.

MANAGEMENT

At entry, stop loss placed under/above the lowest/highest point of the support or resistance on the higher timeframe.

Take profit placed before the support or resistance that makes up the range.

At 50% of the range, LT-TL or 150SMA – shift stop to breakeven.

At 80% of the range, shift stop to 50% mark or below/above swing L/H.

If price breaks and closes past the 30SMA on HTF or 150SMA on LTF, tighten stop loss and prepare for manual exit.

EXIT

download (4).png

[1] Initial stop loss

[2] Trailing stop, as mentioned under management

[3] Manual exit due to change of momentum and break of market structure

[4] Take profit

Advertisements