1. Top down analysis. Check the general trend of the market. Timeframe to consider : Daily, 4H and 1H. At least 2 timeframes must be in agreement.
2. Buy only in retracement. Do not buy at the top. If the pattern is not there, don't trade.
3a. Entry Method 1 : Retracement to Fib levels 0.382, 0.5, 0.618 PLUS stochastic u-turn at overbought (80) and oversold (20)
3b. Exit Method 1 : Fib levels 1.0, 1.27, 1.618
3c. Initial stop : 50 pips
4a. Entry Method 2 : Break of reverse trendline.
4b. Exit Method 2 : TP 1 (amount risk) TP 2 (risk x 1.5) TP3 (risk x 2, exit completely)
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