Every day I share with you my intraday entry levels directly into your charts for FX majors. In this idea I am going to show you How I set Stoploss, Take Profit and also my Position Management Rules!
More descriptions about my trading. I am not patterns trader. My strategy and edge is looking for strong volume zones where Big players were trading. And if a market will come to this zones, I want to trade there again with them. So every day I prepare key levels and key zones and I am waiting when a market will come there.
📲In the chart you can see Long / Short levels into which I enter directly through the limit and then I control them based on the volume . If the market does not respect the level and starts to form a volume in the negative zone, I try to end the position at the breakeven point or stoploss. I set the Profit Target according to RRR or according to key levels and S / R zones. These levels can also be traded from the other side, support becomes resistance and vice versa.
❗️First of all, when I have the level ready, I have to set a Stoploss.
Stoploss is determined by several criteria. First of all, it must not be too far away and also it must not be in an area that serves as a magnet such as POC , Key Levels or a stoploss zone, where the market will run out of liquidity.
Summary: Stoploss determined by. ✅1. Pivot High / Low ✅2. Logical zone according to VolumeProfile ✅3. Low Volume Node and High Volume Node ✅4. Outside of key levels
🎉 Management Rules:
✅When I see in negative zone 5 minutes whole candles ( for short level "over" the level for long level "below) I move my Take Profit to BreakEven point and I want to exit position on Entry point or my Stoploss. ✅ When 80% of profit is reached I am moving my Stoploss to BE point.
Good analysis.. here is my point of view analysis Long-therm on EUR/USD :
Asanato
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@Trader_Dale, Nice chart and long term analysis! I Took also swing trade of Daily key level and scalp trade of weekly POC.
I am more daytrader then Long term.
Trader_Dale
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@Asanato, Yeah good ... Do you thing that volume cluster work better for short-term chart?
Asanato
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@Trader_Dale, I am not using only volume cluster, cause everybody knows that now. I am trading also longterm stocks, bonds and options.. but i feel more comfortable in short term trading :)