6JH23 Short 1/19/23
I am working on better understanding supply and demand, as well as analyzing trends across time frames. I have noticed a weakness of mine is missing the forest for the trees, for example finding a short opportunity but the longer term and even medium term trend is up.
HTF- downtrend
MTF- uptrend
LTF- downtrend to neutral
In this trade I was looking for a roughly 3R scalp. It broke the microKPL on the 30 minute chart. I went ahead and put the trade on with my OCO stop and limit order and went to bed.
When I awoke, price had moved 2/3 of the way to price target in my favor. We did get a retest of KPL breakdown area and that entry would have had an even better R:R, but I was asleep so it's all good.
I moved to the 5 minute chart and put a downtrend line on the top of the candles to close on a break.
I manually closed when it started to show signs of stalling just above the PT.
Timing on taking profit ended up being good and I had a nice 2.5R trade.
*Acronyms*
HTF - Higher Time Frame
MTF- Medium Time Frame
LTF- Lower Time Frame
KPL- Key Price Level
PT- Profit Target
HTF- downtrend
MTF- uptrend
LTF- downtrend to neutral
In this trade I was looking for a roughly 3R scalp. It broke the microKPL on the 30 minute chart. I went ahead and put the trade on with my OCO stop and limit order and went to bed.
When I awoke, price had moved 2/3 of the way to price target in my favor. We did get a retest of KPL breakdown area and that entry would have had an even better R:R, but I was asleep so it's all good.
I moved to the 5 minute chart and put a downtrend line on the top of the candles to close on a break.
I manually closed when it started to show signs of stalling just above the PT.
Timing on taking profit ended up being good and I had a nice 2.5R trade.
*Acronyms*
HTF - Higher Time Frame
MTF- Medium Time Frame
LTF- Lower Time Frame
KPL- Key Price Level
PT- Profit Target
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.