Please Note your results those demoing great move Asia session
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Please Note your results those demoing great move Asia session
First Trade
According to a chart that presents as http://www.stevehopwoodforex.com/php...155505#p155505, price is indiing, ahead of the first trade, it is rising by the following hints:
1) The current candle and the last one are equally Bull candles.
2) The 8 period (whitened ) EMA is over the 24 period (red) EMA AND it's sloped up as if it's rising further.
The first trade is your only time GTWV uses an indior of past prices to forecast exactly what the future holds!!
Definitions
1) The first trade is known as a seed in GTWV.
Two ) This seed, on a micro account is 0.01 lots in dimension.
3) The purpose of the seed is to ascertain if we've got a Gravy Train or even a Weather Vane price movement.
A Gravy Train is a seed which carries on in the indied management, breaks even and thus generates the price driven condition to get a new commerce entry in the exact same direction.
An Weather Vane is a seed which fails to maneuver from the indied management, doesn't break even and breaches a previously identified support or resistance zone. On breaching that zone, price is demoning its new leadership and the weather vane momentum activates contra management transactions.
When a chart presents as above
A lengthy trade (seed) in 0.01 lots is accepted. MPTM subsequently employs the SL and TP (Setfiles are described and displayed in the appropriate section)
Extended First (Seed) Trade
Examine the chart and determine a service zone for prices near the trade entry point. I usually start looking for the lowest low of the preceding 4 candles (in H1 and D1 timeframes). When it doesn't show a sensible support zone, then I look for a different in the vicinity of the current price.
In the service zone I draw a white dashed line. This is the point that if breached price is telling me that a Weather Vane has surfaced and now is the time to enter CONTRA transactions (Shorts) into the intial seed.
When the seed becomes a Gravy Train, the initial long position will break . The moment the seed exchange breaks , price is indiing it's moving in the initially identified direction along with a new commerce in the SAME direction (Continuation) is right.
Short First (Seed) Trade
Inspect the chart and determine a resistance zone for prices Close to the trade entry point. I usually start looking for the highest high of the preceding 4 candles (in H1 and D1 timeframes). When it doesn't show a sensible resistance zone, then I look for a different in the vicinity of the current price.
In the resistance zone I draw a white dashed line. This is the point that if breached price is telling me that a Weather Vane has surfaced and now is the time to enter CONTRA transactions (Longs) into the intial seed.
When the seed becomes a Gravy Train, the brief position will break . The moment the seed breaks , price is indiing it's moving in the initially identified direction along with a new commerce in the SAME direction (Continuation) is right.
Notes
Contra and Same direction transactions vary in lot size from 0.03 down to 0.01 based on the leverage used in your micro account. These can be described in more detail in the section on continuation and reversal transactions.
Reasonable S/R zone -- I specify reasonable as a zone which has held for a couple candles (4 on H1 and 5 on D1). This has evolved due to my own testing!!! Your testing might show a superior S/R decision making protocol. If so, share it!
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