h1 chart - 11 pm Malaysia
spinning top candle??
will fibo 61.8% act as a resistance??
IF and ONLY IF, next candle turns bearish...
i might go short with stop-loss sightly above the spinning top...
and my TP at 161.8% fibo level (126.50)
this is how you should plan your trade and trade your plan...
:d
UPDATE: 12 am candle remained bullish as price tested 50% fibo level
will wait next set-up...
Hi, OK now I have a plan. But I still have question.
1. Now a day, GJ swings so much, it more than 500 pips like this friday, what method u use in this case.
2. your word "lock a profit" is the same of hedging?
3. when the target is so far, u still leave an open position even when the price rebound?
Thanks.
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1. don't really understand this question... but i am selling on rallies...
2. no, i never hedge.. "lock profit" means once my profit is +30, i will move the stop-loss to b/e +5
3. when the price rebound and hit my +ve stop loss, i will look for another entry....
p/s by having certain target, you will have a direction... otherwise you will get panic when the price rebound