Very Low Pip Risk for Maximum R:R
Whilst I find today's events in Ukraine to be beyond words and terribly worrying, the consequent liquidity in the markets has been staggering, with countless opportunities for really nice trades. We're seeing one minute bars cover the distance that we might have been lucky to see 15 minute bars cover in the past, so finding optimum entries that offer the lowest pip (or point) risk can be trickier than usual;
We call these trades VLPR (very low pip risk) in the Skype Trading Group, or VVVVVLPR if it's extra tight. It's a bit of an art of technical analysis to find them but we had three today, the above is just one example, and there were more to be had. Without a doubt, these are the most fun to trade, not just because of the rewards but because of the patience required to wait until exactly the right minute to pull the trigger. - split-second timing is often required if you're using the Buy/Sell Market Order button of ATM, which just adds to the fun,
There aren't many indicators that can give you the precision entries like this - it really needs the "mark one human eyeball". Obviously I use eWavesHarmonics and the ABC123 indicators - and they make trading a lot easier - but you still need to read the price action and see what happened around price levels to the left of the chart. It's all in the confluence and the more there is the better your chances.
Want to know how we do it? It's all covered in the Trader Training Course, that's still free for eWH and ATM users.
ABC123 for MT5 released
The ABC123 indi (that's been available on MT4 for some years now) is an extremely helpful add-on to eWavesHarmonics (eWH), especially good at identifying price targets and potential reversal zones, for corrective and impulsive moves, on any time frame (we use it all the time, with much success on M1). The on-the-fly Elliott Wave guidelines is also a great feature, for those who like Elliott Waves but don't have the main rules stored in their memory banks..
The ABC123 indi is now available for MT5 users who already have eWH. Get in touch if you'd like to purchase a copy.
Available on Amazon Kindle
and Google Books