Enter on break of LL after break down from consolidation. target at s/r on 4 hr. trail stops at each LH or areas of consolidation after breaks down. Very simple method if used with proper money management will give good results.
Heres another one setting up, not sure what will happen but just to give an idea what i look for.
This aus/usd trade did close with just over 1;1 RR. Not exactly a home run but a good example of real life trading. i usually get 2 or 3 of these mediocre trades to every trade that gets 2xR or better. My win rate on this is over 50 % so it does come out ahead. A very simple method that s great for new people in the market that are looking for consistancy. I don t trade this style on charts over 1 hr since the risk gets out of my comfort range, It works best if you catch the first breakout of a consolidation and then trade the first pullback. There s no magic here , most people have seen and read this many times.
heres a similar set up i took in gu, we ll see what happens
heres another one with a little more notes. i noted on the chart a previous trade that did not work out. i got caught up in a false break. i should have waited for the pullback after the break and traded the break of the swing high. my error, and my loss. thats life.
this trade was entered after a failed HH attempt and a move below the most recent HL. when it broke lower to create a ne LL i traded the first pull back. no idea where it will go but that is a valid signal to enter with this very simple system. I like to show these trades very close to entry so you can follow it. it may win , it may lose, the idea is to trade correctly .
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