SELL@0.7312 SL@0.7351 TP@0.7170 …..OR…..
BUY@0.7375 SL@0.7334 TP@0.7500
On M30 Time-Frame WAIT AS LONG AS IT TAKES for a valid UPward correction. After you see a Bullish Candlestick CLOSING above Tenkan Sen (ICHIMOKU Red Line), WAIT for the UPward move to finish and when you see a Bearish Candlestick CLOSING below Tenkan Sen with Tenkan Sen going DOWN, you enter Short (SELL) placing your SL a few pips above last Kijun Sen Plateau on M30 or above KUMO. Stay in while M30 Candlesticks close below Tenkan Sen. EXIT when a Bullish Candlestick closes above Tenkan Sen. Ideally you want to gradually switch to Higher TF and monitor the trade from there. As price goes lower, trail your SL above Kijun Sen plateaus on M30 and trail it above Kijun Sen Plateau on H1 once you have locked profits. If price continues falling, slowly switch to H4 and stay in while Kijun Sen goes down. EXIT when Kijun Sen starts sloping UPwards on H4 TF.
If price keeps going UP aggressively on M30 instead of reversing and closing below Tenkan Sen, go back to higher Time-Frames and use the 4 TF Strategy looking to BUY starting from the highest TF where price made a Fresh Bullish Cross above Tenkan Sen. Strategy protects you from false entries.
Podcast: Play in new window | Download
Subscribe: Apple Podcasts | Android | RSS | More