A visual representation of how I enter and exit my positions. Lazy boy coupled with Price action can be highly powerfull.
I am a baby in Forex and for me all systems are of equal value and each works for one or another.
USD/CHF.
I use 15 Min TF as it suits my mentality.lets go one by one charts.
First take the price action chart.
Trouble at top .An exhaustion bar at top followed by a doji and a bearish bar near a round number. looking to short.The doji is broken @9712.thats a point to make an entry.
15Min Price action chart
Lets take a look at Lazyboy.As per rules the entry is at 9693.fair enough.I place a S/L at 9702.That is 9 pips.
Then my work starts to look for the target.Now I step up my perspective to Higher TF's namely 30 Min and 1 Hour chart.
30 Min price action chart.
1Hour price action chart
As can be seen ,the next pivot zones are 9650,9600 and 9550 respectively. So I cover 1/2 at 1st target , cover 1/4 @ 2nd and rest 1/4th for full ride bringing my stop profit to each previous Pivot zones respectively.
I am a baby in Forex and for me all systems are of equal value and each works for one or another.
USD/CHF.
I use 15 Min TF as it suits my mentality.lets go one by one charts.
First take the price action chart.
Trouble at top .An exhaustion bar at top followed by a doji and a bearish bar near a round number. looking to short.The doji is broken @9712.thats a point to make an entry.
15Min Price action chart
Lets take a look at Lazyboy.As per rules the entry is at 9693.fair enough.I place a S/L at 9702.That is 9 pips.
Then my work starts to look for the target.Now I step up my perspective to Higher TF's namely 30 Min and 1 Hour chart.
30 Min price action chart.
1Hour price action chart
As can be seen ,the next pivot zones are 9650,9600 and 9550 respectively. So I cover 1/2 at 1st target , cover 1/4 @ 2nd and rest 1/4th for full ride bringing my stop profit to each previous Pivot zones respectively.
Last edited: