---------------------------------------------------------------------------------------------------- IMPROVED STYLE 15MIN SCALPING (OLD 2022) VS 1H-D1-W1 SWING (NEW IMPROVED 2023) ---------------------------------------------------------------------------------------------------- 1. SL/TP *15MIN, SL/TP fix 10-30pips, SL must be dynamic, fix SL/TP easily hunted/early closed, market always changing *1H-D1-W1, depends on 1H-D1-W1 liquidity pool, more breathing space, liquidity pool coming of the higher TF, are we in fundamental/news coming? or midweek reversal/rejection/continuation is due? if so lock some TP
2. HEDGING *15MIN, cannot be execute, SL easily hunted up & down, resulted in multiple hedging position BUYSELL at the same time, heavy pressure for traders *1H-D1-W1, will be 4 positions max at the same time, hedging enabled us to save at least 25% of initial loss, -0.5% will be reduced to -0.35%
CASE: 1- Monthly: Buy/Sell? 2- Round psychology number 50/00? 3- WeeklyTypicalStructure: Midweek reversalrejection/continuation? Buy> S S * B B ? Tues/Wed/Thu entry Sell> B B * S S ? Tues/Wed/Thu entry 4- PreviousDailyCSPattern: Buy/Sell first, Sell/Buy at XXX to TP XXX? 5- Fundamental/news coming?
---------------------------------------------------------------------------------------------------- THE TRADING PLAN ----------------------------------------------------------------------------------------------------
HOW PRICE BEHAVE AT WHAT ARE THE PRICE DOING AT
1. High Low Week / High Low Day -where are we at monthly? -where are we at previous week? -what is our weekly bias?
2. Round psychology number 50, 00 & liquidity pool -round number always hard, so either expect to reject/continue
4. Typical candlestick structure -anatomy of candle, price always push to other side first before making real move
4. TakeProfit TP / StopLoss SL Depends on: - Fundamentally / what are the news saying? - Liqiudity pool at Daily/Weekly/Monthly where? - AverageDailyRange ADR Catch explosive move only if direction align with weekly high low bias. Eg. Previous day was bullish doji at daily support & it is mid of the week, do catch today explosive move to next weekly liquidity pool.
ADDITIONAL ELEMENTS TO CONSIDER ---------------------------------------------------------------------------------------------------- . Pending order, recommended PO at pullback
. Entry timing recommendation NY 9-12PM GMT+8
. Position size -0.5% per trade, for normal -1.0% per trade, for aggressive
. If structure failed -Wait for 3-5 pushes to next HOD HOW / LOD LOW
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