Key Levels: Plan and Execution

#TradingChannel #ChartistRaphaelZ

Key Levels for Reference

1. Demand and Supply zone [frvp method]
2. Bounds of the First Consolidation Zone at the End tof an Impulse. [tip method]
3. Order Blocks [frvp method]

Tools for Entry Levels

1. FRVP
2. Price Range

Instruction

1. Recognize key levels
2. Resize the key levels into an appropriate zone. (Using FRVP to create a 1-2% Price Range measurement)
3. Pick the approaching plan:
   1. Using POC of DSZ or Oder Blocks as main entry, VAH and VAL as bounds [frvp method];
      1. Either Long and Short
   2. Using bounds as main entry, POC of FCZ as DCA. [tip method]
      1. Upper Bound of FCZ as the retest of next up impulse (Long entry)
      2. Lower bound of FCZ as the rejection of the current up impulse (Short entry)
4. Determine the Stoploss criteria:
   1. Hard stoploss: 1-2x width of the entry zone, set based on main entry level. [preferred]
   2. Manual stoploss: using the close of single candle under desired timeframe, with above hard stoploss as the value. [preferred]
   3. Consistent stoplocs: 2-3% stoploss or refer to ATR.
5. Determine the sub entry levels and corresponding shares of position:
   1. “3+2N” for FRVP method: 50% at main entry, 30% at bounds of entry zone (15% each), 20% for levels between.
   2. “2 + N” for TIP method: 40% at main entry, 30% at DCA, 30% for levels between.
6. Determine the Takeprofit criteria:
   1. Lower time frame key levels, or pivot points.
   2. Last opposite candle’s open/close, depending on position direction.
   3. Current or higher time frame key levels.
   4. But… Just remember to take your profit whenever you want. Profit is profit, make it yours and don’t leave it just some numbers.