Friday, 26 June 2015

250615 Prep and Update





More improvement in my reads as I just stick to the trade plan:

1. Get the long term levels from W1 and D1 charts.

2. Get the current levels from H4 and M30 charts.

3. Plan trades between the current levels.

Suppy and demand strengthening factors: look for strong momentum moves/trend bars, this is where hard buying /selling was taking place. Zone in on the origin of these strong momentum moves, if it is a fractal pivot high/low that's great, if a cluster of fractal, ensure you include the extremes to avoid an early stop, even stretch the zone to the next fractal if you can. It's nice for the the level to be "fresh"/untested but this isn't always possible.

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