PRICE ACTION / TREND FOLLOWING VOLUME #8

PRICE ACTION TRADING.

STEP SIXTEEN
Find a supply and demand zone.

STEP SEVENTEEN

Find a PINBAR at demand or supply zone.

STEP EIGHTEEN

Add RSI 7 Close on your chart, and check if it is above or below 70,30 zone. ( Overbought or Oversold )

STEP NINETEEN

Check for round numbers 1000,1100,1200,1300,1400,1500

STEP TWENTY

Check the MACD indicator divergence.

PRACTICE,PRACTICE,PRACTICE AND PRACTICE

SEE YOU AT NEXT VOLUME !!


-NEW SIGNAL-
Type : Pending Order
Date : 16.6.2016
Time : 23:10 GMT+1
Technical : Daily pinbar on strong resistance/ supply zone with atr about 400 pips. Macd strong divergence. Rsi get a momentum. H1 strong uptrend trend line broken. Pinbar on RN- round number 1300.
Pair : XAUUSD
Timeframe : DAILY
Trade setup : SHORT
Entry at : 1275.75
Take profit 1 : 1.200 ( 760 pips )
Take profit 2 : /
Take profit 3 : /
Stop loss : 1317.52 ( 400 pips )
Risk reward :
TP1 – 1.9:1
Our risk :
- Deep retrace entry on a PA bar = 1.5% risk