Trading Plan & Re-Entry Plan
- Check the Economic Calendar
- Look at the Daily Time Frame for TFC
- Ex. If the Daily is Bearish, I’m looking for Bearish setups on the LTF
- Aka “If price is below the open, I’m looking to go short. If it’s above the open I’m long”
- Look at the Hourly Time Frame to be in line with the Daily
- If the Hourly doesn’t line up with the daily, I wait until it is
- Look for an Actionable Signal on the 15m and 30m TF
- Mark Entries & Targets on the 15m and/or 30m Time Frame
- Stop Loss: Top of the candle on the 15m/30m
- Move it to another previous low/high on the 15m/30m TF that I enter on
- OR Drop down to the 5m TF ONLY if my risk is too big
- When price hits a PT1 on the 15m, trail your SL to the BE and take profit
Simplified Plan & Re-Entry Plan
- Check the Economic Calendar
- Daily Candles = Use to confirm trend
- 1H Candles = Align with the Daily + Combos, Entries, & Targets
- 15m/30m = Entry & Stop Loss
- 5m = Refinement
Trade Reversal Plan
- Entry that goes scenario 2 and then fails
- Set your stop loss for the closed failed candle at the high
- Set your new trade entry where you have the stop loss for the current trade
- Reverse the position
Trading Rules