On the HTF, the big 4 months head and shoulders development in this market have been extensively documented previously.
Since falling off the bearish flag/ ED channel, price saw a very stable downtrend.
It is during this time that I turned to the ‘level’ and hit hard on every h4 close.
This method worked mainly due to the stable n gradual downtrend. Any small consolidation near the ‘levels’ only served to confirm the presence of these levels.
With risk defined, I therefore hit hard on short positions as close to the levels as possible.
Hence, each time, I will be booking profits in batches of 60-90 pips.
Eventually, decided to book all profits early as capital registered my first doubling of account.
The larger than usual size did not help as it was a bit nerve wrecking and margin was almost to 130% at one time.