Not much of a trade this week. I only spotted the 4H chart trade. Hence I put a limit order on it and leave it to it. Not so much of a strong supply but It does looks as if its going to push the price lower in coming months or next week.
There is just plenty room for it to go on the down side. But would you take my advice on it ? NO. DO what you think is right and suitable. Because What I do, not necessarily be the same what you intend to do.
Because this is just me, this is how I trade. You just need to identify your niche. I trade in any time frame I want because I like the way I trade. And it gives me freedom to just get money out of the market anytime.
I could just start moving my SL above the 5 min Supply. That way I protect my position and my risk.
Though this is a method cannot be mastered overnight, it takes years and months of practice and also experience . Making mistake after mistake until you grasp it psychologically and skillfully. Sometimes trading is something of a self discovery.
Learning in a forum with a bunch of novice won’t get you anywhere. Some might think that he or she is a pro but in the end, they end up head into the toilet. Everyone think they are masters , is just so funny and a joke.
Believe it or not, there is a lot to it than just trading. If you notice my thought process of this trade is that, I have a 4H supply. Then I look into multiple time frame to see
1. For a least path resistant so I know my RR potentials.
2. Then I decide which time frame I trade and take and manage the risk and SL.
3. I will only monitor when it is required ie. every 4H. The rest is just leave it to its thing.
4. Review after the trade completes
It may look simple , but it takes a lot to see everything in any one time.