here is a new trade this time on M15
At Francfort open, H4 AO is preaking, and on H1 price already broke the box level and we have an inside bar, we can’t enter on H1 so we zoom to M15, an IB on H1 means that alligator gets to sleep in lower TF; On M15 we see that there is a new fractal formed; This would be the 3 rd break already but price has not moved that much and both h4 and H1 alligators line are opening. We enter at the break and price flies; we exit when price breaks the lower level of the fractal box the 7th of may for +82 pips. Our initial SL is below the m15 box = 10 pips; Its +8% Profit
This is a classical trade on a direction of the HTF;
AO, fractals (from which the box is from) and alligator are standard indicators available from MT4; I bought the iewave and box for few pounds on internet: google “snorm ewave” and you will find the place. The coder is a friend so can’t just share it and its very cheap anyway
About entries, you take the break of the box of a sleeping alligator (after watching 4 times higher TF for direction) or the second break after the first break of a sleeping alligator. Fractal box must be tight (1st entry), green line must be close (2nd entry) as this is where your initial SL will be. 2nd or 3 break entries depend of how close AO is from the ZL;
For exit: You have to consider:
Fast move: Exit would be candle trailing or break of box in opposite direction. Choice would depend also of how look the chart 4X TF;
You may also lock some profit.
Normal move: close of green line if divergence between AO and price, red line if no divergence or break of box in opposite direction. Choice would dependof how look the chart 4X TF;
Other thing to consider if you trade H1 and lower TF: Red news. You may bring your SL to BE or self half or more of your position.
BRN number, you may take some profit
For wave 5, you may also use fibonacci numbers.
If entries are mechanical, exits are much more subjective
A new fantastic classical trade:
We have the H4 alligator open and the H4 ewave peaking, so we are very confident.
We have a beautiful setup on H1 at FO with a very small box size (inf to 10 pips)
The trade of the week: 12-13 June Gold H1: +4% Profit ( Could have been +2.5% profit if you sold 50% of your position when price reached +1% as US news were about to be released)
Test the strategy on demo or with a small account and then go for real. Start with the best setups first ie sleeping alligator, small fractal box breakout in the direction of the 4 time superior TF (ao peaking and alligator open) Cheers