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  • FX Trading Potato Entry Checklist

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    Ren Hao Lee Alvin
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    This checklist provides criteria for entering a 4-hour FX trading position based on daily and intraday technical indicators. To take a position, the daily chart must indicate potential for movement in the intended direction, either through support/resistance or some flexibility in the overall trend. Additionally, the 50- and 100-period moving averages must align with the trend, one of the pattern indicators must be present, potential gains must exceed 3 times the risk, and the 30-period RSI must support further movement in the biased direction. If any of these criteria are not met, a trade should not be taken.

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    Checklist

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    This checklist provides criteria for entering a 4-hour FX trading position based on daily and intraday technical indicators. To take a position, the daily chart must indicate potential for movement in the intended direction, either through support/resistance or some flexibility in the overall trend. Additionally, the 50- and 100-period moving averages must align with the trend, one of the pattern indicators must be present, potential gains must exceed 3 times the risk, and the 30-period RSI must support further movement in the biased direction. If any of these criteria are not met, a trade should not be taken.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
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    22 views1 page

    FX Trading Potato Entry Checklist

    Uploaded by

    Ren Hao Lee Alvin
    This checklist provides criteria for entering a 4-hour FX trading position based on daily and intraday technical indicators. To take a position, the daily chart must indicate potential for movement in the intended direction, either through support/resistance or some flexibility in the overall trend. Additionally, the 50- and 100-period moving averages must align with the trend, one of the pattern indicators must be present, potential gains must exceed 3 times the risk, and the 30-period RSI must support further movement in the biased direction. If any of these criteria are not met, a trade should not be taken.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    FX Trading Potato Entry Checklist (4hr entry)

    Based on daily chart, with support and trend lines drawn, is the probable move in line with trade idea?

    No

    Is there some allowance on daily chart so that the move can occur before direction on daily chart happens?

    No

    Yes

    Yes

    Is the 50 & 100 EMA aligned in favour of the trend?

    No

    Yes

    Is one of the trend continuation patterns that we use present?

    No

    Wait for pattern. Does it form? No Trade

    Yes

    Yes

    Is the potential gain at least 3 times your risk?

    No

    Yes

    Does 30 period RSI show potential for trade to go in your bias?

    No

    Yes

    Trade

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