Result analysis

An result analysis is done on Saturday.

Trades entry were disciplined and following system. Realized that i should work on the exit.
Be it SL or TP. A justified and concrete exit is needed.

Trades usually was profitable at start but diminished as time goes by. There were pips to be grabbed if timing of exit is planned carefully.

An exit strategy has been came up with. backtested a few times. It will be implemented.

Entry at 4H. Exit at Daily. 
SL and TP will be based on the last S/R on daily candle.

S/R criteria : At least 30pips away from entry. Nearest past price level that has been tested more than 3 times. eg. pierce, closeover and back over in matters of a few candlestick.

1)Ride criteria : The next S/R closest to the first S/R (The above mentioned, nearest to entry) should not be more than 60pips away. 

TO TRIAL :
2)Ride criteria scenario 2. : First entry hit TP(Which is a S/R on daily.) If price close over the first TP's SR, signals another entry at that level to ride to next S/R on daily.


Justify exit on Daily. Entry on 4H.

tradingC.

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