This here shows you how to make entries with a tiny stoploss and monster TP.... I'll elloborate if...
Wait for an order block to form on 1 hr TF.Mark it out.Drop down to 5 min chart and wait for a CHoCH to form with displacement.Markout FVG's that formed during displacement.Take RSI reading on candle that caused CHoCH.Place SL and TP levels USING RSI FORMULA.Use fibs to measure move that caused choch.Look for FVG's in premium or discount zones of...
Wait for an order block to form on 1 hr TF.Mark it out.Drop down to 5 min chart and wait for a CHoCH to form with displacement.Markout FVG's that formed during displacement.Take RSI reading on candle that caused CHoCH.Place SL and TP levels USING RSI FORMULA.Use fibs to measure move that caused choch.Look for FVG's in premium or discount zones of...
I updated the STEP BY STEP in the group Details.
Go check it out.
IF anyone has any particular method they use to trade the RSI formula, this would be the place to drop that discussion. Just created a new DISCUSSION in this group.
Or you can just use .618 - .80 levels on FIB TOOL to place your limit order.
I like to stay between .618 - .70.
Most of the time price retraces to those levels.
Sit back relax and enjoy the monster profit
For advanced users ONLY IS THIS NEXT PART.
I'll elaborate more if anyone else is interested.
PROSPER MY FELLOW TRADERS!!!!!!!!!!!!!!