Flashcards
Trade Entry
Cards in this deck (12)
- 1Unfortunately, the best entry technique for a particular price action setup CANNOT be known until the trade is over and reviewed with the benefit of hindsight.
- 2Wholesale Area/ Last Wholesale Price (LWP)Consider the trading timeframe chart. Our setups are designed around identifying weakness moving into S/R, weakness moving into swing H/L or weakness in pullbacks within a trend.
We identify the retail traders entering late in this move, becoming trapped in a low probability trade and being forced to exit. We aim to enter at or before point when the trapped traders realize they
need to get out.
This point (LWP) is easy to identify. It’s essentially a breakout of some form of reversal pattern or area of congestion at the setup area.
Our wholesale area is up to and including the breakout of the trading timeframe reversal price action; the point at which stops will start to be triggered by those trapped in a losing position. - 3LWP Examples
- 4LWP Examples
- 5Reward:Risk Ratio (RR Ratio)
- 6Entry Zone
- 7Entry Summary-TTF defines places we want to trade
-LTF used to time entry
-We note when price enters our TTF setup zones. But we don‟t automatically enter. We watch how price reacts. We search for weakness, and traders trapped in a low probability
position. Entries are taken at or before the point where the losers realise they‟re wrong. - 8Entry PreConditions
- 9Entry Technique - Simplified Entry-The simplified entry technique involves placing a stop entry order at LWP, as soon as we have identified that position.
-The order will be adjusted if not triggered, and subsequent price action offers a better LWP. And the order will be cancelled if subsequent price action invalidates the setup - 10Entry Technique - Active Entry Process- To achieve a price better than LWP
- 11Entry Technique - Entry Decision
- 12Entry Technique - Stall
Information
- Description
- Trading Flashcards on Trade Entry, created by Mitul Patel on 29/06/2017.
- Created by
- Mitul Patel
- Views
- 1
- Rating
More on Price Action and Trade Setups