DO YOU KNOW HOW TO READ PRICE ACTION? #4
We fianly have a NEW STRUCTURE HIGH.
This gives us confirmation that we are in an uptrend.
now draw a line from the HHHC to the MRL Then from the MRL to the NSH
We must now wait for an optimal entry point to insure we get at least a 1:1 risk to reward. To do this we must know where our stop and target will go.
To find the entry:
FIRST place your stop loss 10 pips below the most recent low (MRL)
SECOND place your target @ the New Structure High NSH
THIRT, wait for he retracement down into a level that gives us at least a 1:1 rr
This gives us confirmation that we are in an uptrend.
now draw a line from the HHHC to the MRL Then from the MRL to the NSH
We must now wait for an optimal entry point to insure we get at least a 1:1 risk to reward. To do this we must know where our stop and target will go.
To find the entry:
FIRST place your stop loss 10 pips below the most recent low (MRL)
SECOND place your target @ the New Structure High NSH
THIRT, wait for he retracement down into a level that gives us at least a 1:1 rr
