Today market is also so tricky. But our theory of consolidation helps us to take two entries with minimum profits. The first entry emerged after the 4th one hour candle which happens to be a "Doji" today the third one hour candle also happens to be a doji. so the market is so indecisive. Both the Doji's exactly falls on the Fibonacci 100% therefore our decision made easy i.e., if it breaks upside the doji it will touch the next retracement if it breaks the doji by downside it will touch the below consolidation line which is the major support also. But luckily first it breaks the doji by downside and gives a target of 7 points and then after 2.15 (fifth one hour candle) it breaks the doji by upside and gives a target of 8 points. Your profit will be multiplied by number of lots you took. But here as per our strategy we should exit by putting a limit immediately after the entry, because remember it is an intraday technique
Today if possible i will post an idea about the Fibonacci retracement in consolidation technique which is more important in intraday trading
Today if possible i will post an idea about the Fibonacci retracement in consolidation technique which is more important in intraday trading
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the above chart not related to this article