I have attached on the chart above a number of multi-timeframe confluence factors that were taken into consideration prior to taking this position.
In my opinion building a tick list of requirements prior to a trade not only gives you a higher probability of long term success, but also minimises impulsive emotional behaviour.
Please note, there are number of other factors and indicators used to identify a setup, this is just a basic and brief outlook on what i watch on a daily basis.
In my opinion building a tick list of requirements prior to a trade not only gives you a higher probability of long term success, but also minimises impulsive emotional behaviour.
Please note, there are number of other factors and indicators used to identify a setup, this is just a basic and brief outlook on what i watch on a daily basis.