Using TDI To Set Up Trades (Part 3)
AudJpy One Hour Sell Trade On Friday:
1) Wait for Green Line to Crossover Red Line downward
2) Enter At Start of Hourly Example Candlestick
3) Put Stop Loss above swing point on chart or 83.400 or 20 pips from entry sell price.
4) Sell Here level at 83.200 or noted beginning of 1:00 A.M. candlestick
5) Take profit at target zone of 82.200-82.400 or 80 pips.
6) Trade was a 1: 4 set up which is great or 20 pip stop loss vs 80 profit/target
Note: Always remember highest volume and liquidity is from Tokyo end to London end or 12 hour period. Remember Monday and Fridays are more choppy generally then Tuesday thru Thursdays price action. 4 things: pair, price, session and time< always!!! Fridays best setup was sell, but a quick one hour buy trade was noted on part two or end of London session too.
Reverse above for Buy trades and use risk management always when trading or 1% to 3% maximum for each trade setup.
1) Wait for Green Line to Crossover Red Line downward
2) Enter At Start of Hourly Example Candlestick
3) Put Stop Loss above swing point on chart or 83.400 or 20 pips from entry sell price.
4) Sell Here level at 83.200 or noted beginning of 1:00 A.M. candlestick
5) Take profit at target zone of 82.200-82.400 or 80 pips.
6) Trade was a 1: 4 set up which is great or 20 pip stop loss vs 80 profit/target
Note: Always remember highest volume and liquidity is from Tokyo end to London end or 12 hour period. Remember Monday and Fridays are more choppy generally then Tuesday thru Thursdays price action. 4 things: pair, price, session and time< always!!! Fridays best setup was sell, but a quick one hour buy trade was noted on part two or end of London session too.
Reverse above for Buy trades and use risk management always when trading or 1% to 3% maximum for each trade setup.
