T29 – AUD/USD

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ENTRY

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

Analysis

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

Criteria

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

IMPULSE registering ADX>25 (✓) ADX42

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 1.6R

Entry: 0.754 | Stop loss: 0.751 (-30 points) | Take Profit: 0.759 (+50 points)

Remarks:

MANAGEMENT

If running >1R + swing established, risk halved

download (3)If 20% left to take profit, shift to break even

If strong momentum + space to run + aligned with long term view, extend take profit and use trailing stop

EXIT

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Stop Loss

Manual. Reason:

Trailing Stop

Take Profit

Remarks: Could have used a longer impulse instead of being so conservative. Have faith in the coil, it was a good one as it was multiple inside bars on the daily. 2.9R was it’s potential, instead of 1.6R.

REVIEW

download (2).pngInside bars and coils – the very market phenomenon this strategy is based on, but never made full use of it on this trade.

download (1).pngTrade will be running 14R now if it was allowed to run.

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