Welcome ladies and gents to another great mark up from P2P! I know you’ve all been well and I’m here for it all lol.
So quickly stated, this mark up is intended for educational purposes. The strategy we have been working with has begun to show improvement! Let’s break things down:
1) TOT : the execution time of the trade came Monday May 1st @ 10am, creating a high which would then be ran out and breaking structure to the downside.
* Once the liquidity has been ran out and price has broken structure in the opposite direction, Fib the range of the high to the low, and would look to enter a sell position at 62% Fib level.
2) Once price has moved in our direction, the Fib levels will determine how long the trade can be held. A safe level for placing your TP is the 0% level (it’s a bit over 1:1 trade with a slightly adjusted SL).
* price action around key levels are good, but price action around key levels toward the same direction are even better! Once price starts to reject on the pullback it allows you to A) move my SL to profit, B) take partials, or C) enter another position.
3) MTT) manage the trade by aligning price action around key Fib levels. As long as your trade aligns with time x direction x technicals (you will also add your fundamentals if there has been substantial news in the markets prior to the move).
And that’s about it folks. Working on pressing this into my mind permanently! See it, allow the trade to develop, the execute.
Anyways let’s keep getting better and securing our future. Trade well family, stay healthy on all aspects, and continue to rule 2023… year of the rabbit!
So quickly stated, this mark up is intended for educational purposes. The strategy we have been working with has begun to show improvement! Let’s break things down:
1) TOT : the execution time of the trade came Monday May 1st @ 10am, creating a high which would then be ran out and breaking structure to the downside.
* Once the liquidity has been ran out and price has broken structure in the opposite direction, Fib the range of the high to the low, and would look to enter a sell position at 62% Fib level.
2) Once price has moved in our direction, the Fib levels will determine how long the trade can be held. A safe level for placing your TP is the 0% level (it’s a bit over 1:1 trade with a slightly adjusted SL).
* price action around key levels are good, but price action around key levels toward the same direction are even better! Once price starts to reject on the pullback it allows you to A) move my SL to profit, B) take partials, or C) enter another position.
3) MTT) manage the trade by aligning price action around key Fib levels. As long as your trade aligns with time x direction x technicals (you will also add your fundamentals if there has been substantial news in the markets prior to the move).
And that’s about it folks. Working on pressing this into my mind permanently! See it, allow the trade to develop, the execute.
Anyways let’s keep getting better and securing our future. Trade well family, stay healthy on all aspects, and continue to rule 2023… year of the rabbit!