Trading Consultants Inc. Discusses Zone to Zone Trades
Trading Consultants Inc always uses a monthly chart to determine direction. Our entry and exit is based on price action from H4 and Higher . There is agreat deal of satisfaction when a trade completes in a complete travel from Demand to supply or vis versa. When trading a pair that is ranging the lower time frame zones allow this kind of target shooting with the targets beign preset.
For those who were schooled with AceGazette you will recall how we would ask Ken how he could take a trade prior to the zone being indicated. Recall it takes three closed candles to create the zone with our indicator .
Here the entry was made based on the pin rejection and I could have been early as price could have continued to 116.25 or so before stopping
But look left and notice that the target for the new buy is also the level for a significant decline so I decided to take the trade on the PA that was without zone confirmation. However it does make for a pretty trade!
As far as the target it was the 200 period moving average line that I find has a reaction almost always . In this case I left a 30 to 50 pips on the table but I was not tied to the computer today either.