Trading Criteria:
Regardless which way you want to trade, look for minimum five 4hr. candles in consolidation zones (yellow boxes). If you're a pattern trader or pinbar trader, this might be useful here.
Wait for the breakout of 4hr. consolidation to take the trade. I usually aim for 80% of weekly ATR taking profit...not always at the next yellow box. I place my stop loss above/below consolidation.
*These zones, with the inclusion of price action described above, have remarkable accuracy
Regardless which way you want to trade, look for minimum five 4hr. candles in consolidation zones (yellow boxes). If you're a pattern trader or pinbar trader, this might be useful here.
Wait for the breakout of 4hr. consolidation to take the trade. I usually aim for 80% of weekly ATR taking profit...not always at the next yellow box. I place my stop loss above/below consolidation.
*These zones, with the inclusion of price action described above, have remarkable accuracy