Confirmation & Time to enter for reversal! (Update to last post)
Time Frame:
- 4HR analysis
- 15min Confirmation for Entry
As mentioned in my previous post titled “Clear Head and Shoulders Long or Short term play”, we were waiting for an entry signal into our H&S trade. This signal could come in many ways but in my strategy, once a larger time frame (2Hr-1day) supply zone is hit, I then turn to the lower time frame and wait for a bearish signal (typically a CHoCH (major or minor)) and thereafter identify the LTF supply zone that caused that CHoCH. Reaching that supply zone is our signal to enter and we therefore have a tight and calculated stop loss with a stronger R:R.
We have now broken previous structure and are considered in a LTF downtrend (with a lower high and lower low) and can begin our descent toward breaking through the H&S neckline and the important trend line that is holding us up.
My trade plan is as follows:
Stop Loss – Above LTF Supply zone (higher R:R), Above right shoulder/previous higher high (lower R:R)
Take Profit 1 – Neckline of H&S = 8.32 R:R
Take Profit 2 – Trendline bounce/break = 12.5 R:R (or 6.6 with higher stop loss)
- 4HR analysis
- 15min Confirmation for Entry
As mentioned in my previous post titled “Clear Head and Shoulders Long or Short term play”, we were waiting for an entry signal into our H&S trade. This signal could come in many ways but in my strategy, once a larger time frame (2Hr-1day) supply zone is hit, I then turn to the lower time frame and wait for a bearish signal (typically a CHoCH (major or minor)) and thereafter identify the LTF supply zone that caused that CHoCH. Reaching that supply zone is our signal to enter and we therefore have a tight and calculated stop loss with a stronger R:R.
We have now broken previous structure and are considered in a LTF downtrend (with a lower high and lower low) and can begin our descent toward breaking through the H&S neckline and the important trend line that is holding us up.
My trade plan is as follows:
Stop Loss – Above LTF Supply zone (higher R:R), Above right shoulder/previous higher high (lower R:R)
Take Profit 1 – Neckline of H&S = 8.32 R:R
Take Profit 2 – Trendline bounce/break = 12.5 R:R (or 6.6 with higher stop loss)
أغلقت الصفقة: تم الوصول للهدف
Take profit 1 hit for a successful 8.3 R:R Trade!!Approaching our protected Take profit 2 for a 6.6 R:R Trade!
أغلقت الصفقة: تم الوصول للهدف
Take Profit 2 hit for a 6.6 R:R! This H&S and market structure analysis led us to massive and predicted profit!
منشورات ذات صلة
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.