T18 – EUR/ZAR

downloadADX27.png

ENTRY

Daily // 4H // 1H // 30m // 15m

Analysis

get context for the set-up (what you want to see: clean impulse, choppy correction)

Range on the higher timeframe, bounced off a support area. Trend defined with the 50SMA and direction of the impulse and corrective waves.

Criteria

TREND on entry timeframe determined by SMA if subjective (✓)

IMPULSE registering ADX>25 (✓) ADX27

COIL structure clear formation relative to prior impulse (✓)

Continuation/Correction/Coil Structure

Flag // Rectangle // Pennant // Wedge // Triangle // Diamond

Fibonacci 50%–61.8% // S&R Level // Trend Line // Moving Average

ABC // ABCDE // Extended Combo

Orders

Entry @ Break of Structure // Area of Value + Candlesticks

Stop Loss @ +1ATR away from last wick // SMA as guide

Take Profit @ Length of Prior Impulse // Next Area of Value

1% capital risked for potentially 2.4R

Entry: 14.55 | Stop loss: 14.39 (-1626 points) | Take Profit: 14.95 (+3974 points)

Remarks:

MANAGEMENT

If price breaks out favourably, risk halved

download (1)If two-thirds of anticipated impulse, shift to break even

If breakout + strong momentum + space to run, extend take profit and use trailing stop.

EXIT

download (1).png

Stop Loss

Manual. Reason:

Trailing Stop

Take Profit

Remarks: Might have shifted to breakeven too early… There is a possibility that price is just retracing back to breakout point. Clear 12345 and the ABC is just retesting the breakout point (50% of impulse) and will bounce off and head to take profit level.

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