Hi Everybody,
Here is the 240min Chart, which is the “larger degree” chart to the 60min in the last post. As you can see, the JPYUSD had just put in a Wave C high, so the “larger degree” trend was now down, making the TS4 buy on the 60min chart “against” this larger degree trend.
An when a trade is against (or unsure) the larger degree trend and you want to take it you must protect it quicker using the 100% initial risk guideline.
OK, onto the 60min chart in the next post
Steve
Here is the 240min Chart, which is the “larger degree” chart to the 60min in the last post. As you can see, the JPYUSD had just put in a Wave C high, so the “larger degree” trend was now down, making the TS4 buy on the 60min chart “against” this larger degree trend.
An when a trade is against (or unsure) the larger degree trend and you want to take it you must protect it quicker using the 100% initial risk guideline.
OK, onto the 60min chart in the next post
Steve
