SELL@122.67 SL@123.76 TP@120.26 FOLLOW THE CRITERIA!
Monitor the pair from H4 Time-Frame. Price actually wants to go up to the Upper Bollinger Band on Weekly Time-Frame, completing the Range, but it looks like it will make a downward correction on Daily before it goes there.
Before you SELL, make sure that :
1. A Bearish H4 Candlestick closes below the Lower BBAND
2. Median BBAND is curved DOWNwards
3. Upper/Lower BBANDS Edges are turned outwards forming a FUNNEL
4. Tenkan Sen has crossed below Kijun Sen and BOTH Tenkan Sen and Kijun Sen are sloping DOWNwards
5. Chikou Span has crossed below past price action going straight DOWN.
6. Stochastics go DOWN.
7. A STRONG Bearish KUMO Breakout on M5 TF -validated by Chikou Span- is a fact.
STAY IN while H4 Candlesticks close below Tenkan Sen. EXIT when a bullish H4 Candlestick closes above Tenkan Sen. Trail your SL 20pips above Kijun Sen plateaus. If you’re stopped out, RE-ENTER when a Bearish H4 Candlestick closes below BOTH TS and KS with TS sloping DOWN.
If you can take the risk entering from H4 Time-Frame, set your SL and TP and leave the trade alone.
If you can’t take the risk from H4 TF, go down to M30 Time-Frame, WAIT for the upward corrective move to finish and SELL from there placing your SL a few pips above Median BBand and Flat Kijun Sen and trailing it a few pips above each new FLAT Kijun Sen Level. If your Daily Pips Target is 20, since this is a 140+ pips move, you can place your TP 40-50pips from your Entry and when it gets hit, bank your pips and go.
Monitor the pair from H1 Time-Frame . Bullish Scenario is not very possible although you may see extreme upward moves because price will try to exhaust its Bullish Momentum before continuing its fall. o I want you to be VERY CAREFUL , almost SUSPICIOUS if you see price going UP. And if your BUY Criteria are met on H1, if you decide to take the trade, SWITCH IMMEDIATELY to M15 and TRAIL your SL using the following STAY IN Criterion: STAY IN while M15 Candlesticks close above Tenkan Sen (ICHIMOKU Red Line) and when a Bearish Candlestick closes below Tenkan Sen JUMP OUT!!!!!
Monitor the pair from H4 Time-Frame and make sure ALL YOUR ENTRY CRITERIA are met.
Before SELLING make sure a Big Bearish candlestick closes below Lower Bollinger Band -or a breakout candlestick crosses below that level- with Median BBand , Tenkan Sen, Stochastics and Chikou Span going DOWN.
Before BUYING make sure a Big Bullish candlestick closes above Upper Bollinger Band -or a breakout candlestick crosses above that level- with Median BBand , Tenkan Sen, Stochastics and Chikou Span going UP.
Once you are in the trade, keep your eyes nailed to Stochastics switching to H1 Time-Frame. In case of Downward Move, EXIT if Stochastics make a Bullish Crossover below 20-Level Line.
In case of Upward Move, EXIT if Stochastics make a Bearish Crossover above 80-level Line.
In that case, ignore TP if they are promising you more pips. Grab your pips and get out. The best trader is not the one who makes the most pips but the one who KEEPS THE MOST PIPS FASTER.