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AUDSGD: Fine tune an entry of a D1 pattern.

 Tweet alerting opportunity to trade AUDSGD

 

  Looking at the D1 chart of AUDSGD

1234 pattern on D1 AUDSGD

1234 pattern on D1 AUDSGD

  • On the D1 chart, we can see the 1234 pattern mentioned in the tweet. (Note, if you can’t see a pattern, switch to the line chart, sometimes its clearer).
  • Possible way of entry was based upon
    • WR of Point 2
    • Place a pending order to “catch” a re-test of point 2

Zooming into the re-test area on the H4 charts

Retest of D1 point 2 sees a smallish 1234 on H4 of AUDSGD

Retest of D1 point 2 sees a smallish 1234 on H4 of AUDSGD

  • At the retest area, you can also see that a smallish 1234 pattern was formed on the lower time frame. (H4 in this case)
  • This can be also seen as fine-tuning an entry on a lower time frame of a higher time frame pattern.

There will be Pros and Cons of fine tuning an Entry

Pros and Cons of Fine Tuning

Pros and Cons of Fine Tuning

Do not chase a trade by jumping anyhow, instead look for the next opportunity.

13TL or modified F6?

13TL or modified F6?

  •  Based on Tflow®, there are 2 more possible triggers
    • 13TL
    • Modified F6 entry
  • You can also apply the idea of fine-tuning to this triggers to reduce the size of SL. However take note that rules for 1234 still applies where pt4 needs to be at a strong level of resistance or support.
  • Alternatively, if price does another re-test of the D1 point 2 that is also another opportunity though this may be unlikely at this point.

Last time, many things that I wanted were just dreams, now I see them as possibilities. I’m looking forward to own pent-house suite in Manhattan overlooking Central Park because forex trading with Tflow® makes it possible. Find me on Google+

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