About trading technique used here
For trading will use only technical analysis. No indicators will be used for now, if ever use any then will be only SMA200.
No patterns recognition will be here but 1234 for trend reversal will be used. No fibonacci retracement for now as well. Later will add some of them, but everything depend on trading results.
For sure trading will be based on TL's BO, channels & 1234. When thing will change will make an update here.
On bigger TF will look for main trend and draw TL or Channel. Next will lower TF 1 or 2 times and will draw second TF for smaller range now. Will look for correction and at the end of correction on BO will enter in main trend direction (trend is your friend). If correction will go out of range will look for 1234 or possible trend change, next will apply trades in opposite direction or withhold from trading this instrument.
On bigger TF will look for main trend and draw TL or Channel. Next will lower TF 1 or 2 times and will draw second TF for smaller range now. Will look for correction and at the end of correction on BO will enter in main trend direction (trend is your friend). If correction will go out of range will look for 1234 or possible trend change, next will apply trades in opposite direction or withhold from trading this instrument.
About Money Management
MM is really simple here. TP = SL that's mean RR ratio is 1:1. Depend on TF will use different pips qty. Pips will be calculated on 1% per trade and no more then 5% per all trades of total account equity.
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