NZDUSD - inside pinbar trade
TRADE RATE* : C+
Inside pin bar on resistance already tested successfully before.
Only C+ trade because space is OK but price didn't retested BRN to gain momentum on our side.
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Trading rules are :
1. Trades are taken in 1, 2 or 3 units depending the situation.
2. Unit would be closed when reach associated target. Unit 1 = 1st target, unit 2 = 2nd target etc..
3. If 90 percent of first target is reached I move stop loss to break-even.
4. If 90 percent of first target is reached without triggering entry I cancel the trade.
This is not an arbitrary approach, because every situation evolves, targets can be adjusted/reset.
I like to see how price behave on key level before closing.
In any case every adjustment will be indicated in "trade update".
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My 5 tips to keep in mind that will save you from losing :
- Make sure to have enough Momentum on your side
- Use powerful confluences (BRN, major S/R, Div, Trend-lines, Fibos)
- Have enough space to reach 2 Ratio:Reward at least, avoid tricky noise situations
- Good price action (pinbar, inside bar etc..) at bottom/top for a good price
- Enjoy your wins and learn from your losses
Wish you great success !
TRADE RATE* Rating from A+ to C- to determinate the quality of scenario on my own perspective, taking into account : space, momentum, market context, potential reward..
A+ : Amazing trading situation to not miss
A- : Great trade to take
B+ : Very good trade
B- : Good opportunity to watch
C+ : Could be better, don't risk too much on this one
C- : Not bad but risky
I don't recommend to invest on C- trades and under
And of course adapt your money management = more risk on better quality trade, makes sense isn't it ?
Inside pin bar on resistance already tested successfully before.
Only C+ trade because space is OK but price didn't retested BRN to gain momentum on our side.
=============================================
Trading rules are :
1. Trades are taken in 1, 2 or 3 units depending the situation.
2. Unit would be closed when reach associated target. Unit 1 = 1st target, unit 2 = 2nd target etc..
3. If 90 percent of first target is reached I move stop loss to break-even.
4. If 90 percent of first target is reached without triggering entry I cancel the trade.
This is not an arbitrary approach, because every situation evolves, targets can be adjusted/reset.
I like to see how price behave on key level before closing.
In any case every adjustment will be indicated in "trade update".
------------------------------------------------------------------------
My 5 tips to keep in mind that will save you from losing :
- Make sure to have enough Momentum on your side
- Use powerful confluences (BRN, major S/R, Div, Trend-lines, Fibos)
- Have enough space to reach 2 Ratio:Reward at least, avoid tricky noise situations
- Good price action (pinbar, inside bar etc..) at bottom/top for a good price
- Enjoy your wins and learn from your losses
Wish you great success !
TRADE RATE* Rating from A+ to C- to determinate the quality of scenario on my own perspective, taking into account : space, momentum, market context, potential reward..
A+ : Amazing trading situation to not miss
A- : Great trade to take
B+ : Very good trade
B- : Good opportunity to watch
C+ : Could be better, don't risk too much on this one
C- : Not bad but risky
I don't recommend to invest on C- trades and under
And of course adapt your money management = more risk on better quality trade, makes sense isn't it ?
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