Awaiting the next move from this pair. Always follow proper risk management
Rules: .01 - 100 GBP .02 - 200 GBP .03 - 300 GBP .04 - 400 GBP ......... .10 - 1000 GBP TWIN TRADE: 10 - 15 pips in profit = Set 2 pip stop profit 1st Order = 30 pip take profit 2nd Order = trail stop profit 30 pip stop loss no matter what. Example of Twin Trading: 1000 GBP in account = .05 + .05 = .10 LONG 1. Wait for a break of support (floor) 2....
With the Harmonics scanner detecting a sell I have trapped price within the two zones. Once a zone has been broken await the retest before entry.
With USDJPY continuing its downtrend, there could be further opportunity to catch more pips.
With the market retesting this zone I would be looking for sell entry.
Wait for the retest to take place, feel free to use a FIB tool for a more precise entry. If it does not retest the zone - DO NOT ENTER!
With the harmonics system indicating a buy, this could be a nice trade setup. Using the price trap strategy, this allows me to predict the next move with confidence. Sign up with the IM Academy today! im.academy
With the bullish inverted hammer formed, this could indicate a bullish trend is getting ready to start. I have trapped price and will only enter trades if the price breaks and RETESTS.
Using the harmonics system allows me to find trades and trap the price as shown, Harmonics predicts a buy but we will await the retest to confirm entry to the trade. Sign up today to get exclusive access to IM Academy im.academy
With price trap, we are able to trap the price between the ceiling and floor (support and resistance) Once the price has broken, set an alert to trigger when the price retests the previous zone. If it does not retest, DO NOT ENTER THE TRADE.
Providing the zone gets retested again, I will be looking to enter again on this currency pair.
Previously the restest took 18 hours... So don't think you have missed out! ALWAYS WAIT FOR THE RETEST - IF IT DOES NOT RETEST - DO NOT ENTER!
By using this method I am able to trap price within the support and resistance.By following the break a retest strategy this allows me to confidently place my trade with proper risk management.
With the price entering a consolidation. I have trapped the price to predict its next move. If this breaks either of the zones I would expect the price to retest before making its actual move.