my trading setup(gbpcad)
(2014.05.06)
In this set up i took this is a very good setup for sell oders because. i anelysised this one with so many clues
1: this is a strong ressisten level
2:in higher frame i can see a pin bar setup(it s indicate good prize revesal)
3:in lower time frame i can see price moument is going slow(it indicate dimand is outgoing supply is coming)
4: its all so respect the major trend line

miss item
1:i made a bad entry point(i explain it later)
2:i didn t see the honey setup(that realy realy bad)
3:finaly i didn t anelyz well

ok lets take a look at this set up accoding to my plan i prefer three timeframe first one is higher time frame because we can take very good adventage in higher time frame like we can collect some information like very good support ressisten levels and price action
now let s look at the big picture
1:we can see the good major ressisten level
2: we can see a pin bar set up actually it s faky setup (double pin bar set up one pin bar has in side a another pin bar this is a very good strong revesal pattarn)
3:This is the strong major down trend movement making low high
4: price is deacelareting why i am say that buyer going out of fule what the funny thing is now they paniking
5:this is a good advantage for sellers but my entry is tooo bad i know that realy.beacause i didn t saw big picture very well so its my bad but here is the thing i change my s.l and t.p levels so now i am good with my trade.
now let s look at the trading time frame
you can see some thing happen on market like buyers not so strong they are trying to get every adventage to buy every time but they a not so strong look at that
1:price is de acceraleting price its all most making lower high
2:we can see there is a very good tren line respect
3:indicision candle is formation
here is the thing well i miss some thing first one is entry point second one is trend line respect i am all so panic beacause of why well i ll show u
now let s look at the lower time frame
now we can see my ressisten level in brown color that is the main ressisten level and that was my entry point what stupid idea was that.and this is why i am panic ill draw it
you can see price was cross the line and after that it respect the support level thst realy bad but i see it like just one only thing i didn t see big picture if u can see the big picture there is a trend ling respect is coming and it respect the level and all so lets talk about the entry point u can see my first s.l level and t.p level that realy bad why i am say that look at the higher time frame there we can see some pin bar set up price is very possible to go to 50% of pin bar candle so i ajusted my s.l level and my t.p level now this is the wonder full news now ill show u the on going result wait for it wait for it
come on baby look at that yeah nice profit well accoding to price action we can ajuest the s.l level and t.p level why i am say that beacause there are a very good probebility to market go down and if there a risk free trade that was i am choosing ok nice set up my entry was not so bad
we realy wanna keep every thing simple and smart trading is serious thing for serious people
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