MMSM (if we entering sells) If we break 37899.3 which is the golden level entry zone on the 1H fib as well as a break of support and the parallel channel
Enter sell positions at 37880 confluence from Support break + Parallel channel break and entry golden zone level (3 confluences)
Hold sells till 37770.2 at TP 1 and then close partials and wait to see if we break this support (1098 pips profit)
IF we break 37747.6 then take further sells till the 1H retest level other wise known as the CHOCH retest
Close Biggest lot size at TP 2 which is 37603 and wait to see if we can break this CHOCH (2770 pips profit)
If we break 37574 then open runner sell positions for hedging profits from sells and try hold long
TP 3 will be the exit zone of the 1H fib level at 37478 (4020 pips profit) however we can now keep holding because it's also the 4H Fibonacci Golden level entry zone of 0.236
If we break 37574 then open runner sell positions for hedging profits from sells and try hold long
TP 3 will be the exit zone of the 1H fib level at 37478 (4020 pips profit) however we can now keep holding because it's also the 4H Fibonacci Golden level entry zone of 0.236
TP 4 will be 37402 which is the exit of the 0.236 4hour golden zone level but also a strong support level (4770 pips profit)
If we break the support at 37403 then open more runner sells of smaller lot sizes and hold till the next golden level zone on the 4H Fib at 0.382
TP 5 will be 37121.5 which is the entry of the next 4H fib level at 0.382 but also the next level of support but also the full 100% retracement of the 1H Fib so close trades again and wait for the test so far 37 880 initial entry - 37121.5 = 758,5 pips x 10 (indices multiplication) = 7585 pips profit
MMBM (if we entering buys) 38143.7 is the entry zone for buys if we extend out of the 1H fib level
38376.8 is TP 1 for buys if we extend passed our 0 level on the 1H fib chart 38376.8 - 38143.7 = 232,3 x 10 = 2323 pips profit on buy
NOTE If you are closing and entering partial positions (hedging strategy) Always make your new SL the previous TP or abit before you should be able to hold losses and still be in profit if you can closed out because your new lot size is smaller than your previous win. You should be profitable either way thats proper risk to reward and your funds well managed!
Also note that some brokers are different so this one that I analysed on is 100 pips below my current spreads on MT4 so I will be entering my trades at 100 pips higher on my phone. Example: This charts entry point is 37 880 but on my metaquotes I will need to enter the trade at 37 890 for accuracy
You can compare your brokers metaquotes to this trading views quotes by opening your MT4 on phone and seeing the difference
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