King W. Harbmayg's Journal Entry #8 1. Thesis: Price is at my 50 level outside the 100 pip box and is at the HOD and HOW. It broke a low which influenced me to get in. This is a counter trend back to the 100 pip box where I will scout for a potential buy. Also the evening star presented, adding more confirmation with a tight SL right at the top of the...
King W. Harbmayg's Journal Entry #6 1. Thesis: Price broke previous day's high before pulling back, giving what is likely a false break since structure is still primarily to the downside. I believe sells are in order; with my stop loss set at the above all high, I feel relatively secured if this move is indeed a breakout reversal. 2. Performance: (1 out of 5) ...
Price pushed 3 times up. - cleared yday high - cleared some selling liquidity from last week - once more push up to shake out sellers. price action: -engulfing bear candle, - bear pin hammer Short for a 30-40pip target
Final Push up in NY session. Double top formed end of LON and Pre-NY as a trap to trap sellers. HOD confirmed with engulfing Bear candle. Short targetting Asian range.
This seems like a decent strategy that may give you a quick/small stop out, or a long ride. Potential to add to trades as each level is breached. Indicators used are: new intraday high/low (green and red dotted lines) and midpoint (white solid line). The idea is to place an order in the same direction as the breakout (high or low), with a few points as a target,...