My method


System.



4H TF



Check chart 1000H 1400H 1800H 2200H 0200H 0600H



Check chart for entry, shortlist, setting of TP and manual closing to cut lost.



Entry.



15SMA 50SMA


Identify last high/low.


A high considered high only if the following criteria is met.

- Candlestick goes up and bounce away from a price. A bounce is confirmed by next bearish candle.

it should form an inverted V. (With at least 3 candles)

- The high of the single highest candlestick is considered the high.

For low, it would be the direct opposite of the above.



Enter when any candle CLOSE over last high/low.

Straight entry.

TP at the next level of resistance/support. either at TF 4H or Daily.

SL below the next level of resistance/support. Manual close if price close over 15 SMA.





IF last high is tested with no close over, the high of the testing candle will takeover as the next high to be breached.

An entry is valid only if candle close over the high of the testing candle.

For low, it would be the direct opposite of the above.



Avoid trending/sideway charts.


traderC

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