TAKE THAT NEXT TRADEHi Friends,
This post is for Educational Purpose only!!
Time Frames : 5 mins, 10 mins, 15 mins
Instruments : All Forex and Crypto Pairs
Market Session : All Sessions
Strategy Considered : Price Action Shift (PAS)
TAKE THAT NEXT TRADE
From my personal research i have seen that for a trending market, break of structure or shift in price action often leads to a big price movement moments later. Before i go into a trade, i normally ask myself a couple of questions;
1. How much is my balance?
2. How much do i want to risk?
3. Does the setup have a high winning probability?
4. Am i following my checklist? if yes, have i checked at least 4/6 of the items on the list?
5. What are my exit plans if i should take the trade?
If i am able to respond to Q3-Q5, then i will not miss that trades.
PAS Strategy Explained - Citing CADCHF (15m)
Price did not break first swing low, attempted to break the second one but failed. It eventually broke the third swing low then headed back to retest the order block that pushed price to that break. It makes sense to go in right at this point since 6/6 of my checklist have been ticked + Q3,Q4,& Q5 response is yes.
PAS Strategy give investors/ traders the opportunity to expose their capitals to low risks but highly profitable trade (in this case RRR of 1:8).
Take some time off to look at my checklist and the confluences which i have listed on the chart.
DO NOT FORGET TO LIKE, COMMENT AND FOLLOW ME.
