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BLQM Trading Plan
BLQM Trading Plan
TRADING PLAN
News
- Before every session open, you should check if there is any upcoming high impact news
- I use https://www.forexfactory.com/calendar for news updates (high impact news are marked in red)
Entries
Once price taps my POI, I go to 1m and wait for re-alignment in OF. After this is met, I wait for the mitigation of my
1m zone and jump to my execution TF (the 5s)
Confirmation entry
What types of confirmation I want to see on both the 1m and the 5s before placing an entry
-liquidation
-sweep
-choch
-s2d/d2s flip
https://www.tradingview.com/x/Ne661GOU/
Risk entry
It’s essential to know who is in control before using this type of entry. If supply fails, it means demand is in control.
If price is returning from unmitigated POI, it's always better to wait for confirmations before placing an entry.
“when not to use a risk entry”
https://www.tradingview.com/x/xAaX31BZ/
Price returns from unmitigated supply and taps into demand, we don’t know who is in control at the moment. Now
all we would like to see is demand taking out some LTF supply. If this is met, we can then take longs.
https://www.tradingview.com/x/JSXAZcK5/
However if price didn't mitigate anything on the left, u can get away with a risk entry “when to use a risk entry”
https://www.tradingview.com/x/LCTHHYHU/
Continuation entry
Taking a continuation trade is an easy way to scale in if u missed the 1st entry "you don't have to always be the 1st
into the trade inorder to be profitable"
Through following EOF (expectational Orderflow), we could get in as many trades as possible until the HTF
objective is met.
The second entry is a continuation trade “it is also referred to as the safest entry because it comes after the trend
is confirmed (creation of a new LL confirms the bearish trend)”
However, we need to be more aggressive when managing the scale in trades. It is safer to take partials at
significant areas since we are not well positioned.
"Hold the well positioned entries and close the scale ins at a significant area"
I have found this trading plan being profitable the past quarter but you can as well modify it to fit your
trading style