I aim to determine the nature of a (conservative) break.
From which, I can take any valid ‘cautious’ break that comes along.
But in doing so, I like to consider the probability of both sides of a trade.
If my entry does not break and the initial entry picture changes I take my best out.
To me, the open trade or the ‘live’ bet is only one of many.
I take careful note of the context, pace and harmony of the market.
With a neutral view, I let a break build up ‘properly’.
I pay attention to magnets such as a double zero or fifty price level.
Moreover, I want obstructive elements between entry and stop but not between entry and target.
I monitor significant financial news and do not trade their effect.
My entries are from near or on the 25 exponential moving average in association with a squeeze setup in a direction appropriate to the dominant pressure.
I wait for good double pressure in a break, patient to avoid false and tease break traps.
A signal bar is highly desirable, a break of which is my entry which in turn becomes my entry bar.
In a trend, I swing my trade.
In a range or if counter to the trend, I scalp my trade.
However, I don’t trade a countertrend break for continuation.
I exit at the target or resistance, a technical or a reversal point.
But I try not to ‘chicken out’ and exit too soon.
Finally, I do not need a trade; therefore, I do not search for one. I spot my bets rather than find them.
My goal is to trade at a (?) amount per pip based on the Fibre at 50% of retail margin.