We have had changes in our working schedule this week, therefore our review of Horizon X entries is released on Saturday, not on Friday. Next week we will return to normal schedule.
We released analytics only on Thursday and Friday – as a result, we didn’t get as many trading opportunities as we could hope for. In this review, I will analyse the trades in details. Our trainees and readers often ask when exactly they should have entered, where they should have placed their stops and take-profits and if it’s better to close trades manually.
Both basic Horizon and Horizon X take interpreting out of the equation. Market entries after TE should be similar with different traders. Usually the occurring problems are the result of little practice.
If you haven’t mastered this trading method, I recommend downloading free Horizon TS. But if you have already comprehended the basics, I invite you to sign up for Horizon X training course.
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Entries this week
On Thursday, July 5 the resistance level at 1.1668-1.1682 on EURUSD worked. The price reacted to it and reached the TP, marked in our analysis. But the break of this resistance on Thursday is of great interest. We received a good entry after the chart trended beyond it. In Horizon X system, such entry is called B’n’G – Break-and-Go.
The break was sharp, on a momentum move, which is another proof that it was genuine: in this case you:
- should have waited till the chart pulled back to the broken resistance and made sure it was not going to move under it. EURUSD trended above the resistance;
- entered a long trade at 1.1684 and placed your stop below the resistance, i.e. below 1.1668. SL is 16 pips.;
- should have placed your TP, taking into account the chance that the chart would reach the high, that the price reached immediately after the resistance was broken.
Eventually you could have taken 29 pips of profit from this trade. The profit/loss ratio is 1.81:1, you could trade this entry.
Examples of good Horizon X entries
Below I will provide examples of good trading opportunities that have appeared recently and explain the trading algorithm:
- In the picture below, we see the break of the support on GBPUSD, we marked this level in our analysis. The support did not hold, you should have entered the trade after the break was confirmed. After that, the chart pulled back into the support zone, but then went below it. You should have entered a short trade on the first candle that formed below the support. Your stop should have been above the support zone upper boundary, and the trade should have been closed manually at 1.3162, here the drop halted. The stop was 23 pips, the profit was 49 pips;
- The next example is another B’n’G entry. The chart broke 2 levels on a momentum move, you could have entered a short trade after the second break and trending below. Our stop was 18 pips, then the price began dropping gradually, so you should have waited for the American closure and exited the trade. The profit was 129 pips;
- In the following example, the chart moved between the levels. GBPUSD couldn’t trend above the resistance and an entry appeared on a pullback below it. Here we have a clear target for TP – the next support. As a result, our stop was 17 pips and take-profit was 47 pips;
- Technical entries appear as frequently as B’n’G. In this example, we got a W-pattern inside the support zone, and then the chart sharply went up. As the price did not pull back to the support, you could have bought after the High was broken by a large bullish candle. The stop was 23 pips, and you should have taken your profit in portions on the next two resistance levels. The first target yielded +18 pips; the second half of the trade was closed manually after the chart could reach target #2 with 45 pips of profit;
- Here’s another example of a resistance bounce and consequent formation of a swing pattern. The move was significant, you should have entered after the break of the SL, with a stop under the low. It is a short distance to the nearest resistance, that is why our TP was at the next resistance. As a result, our stop was 28 pips, and take-profit was 44 pips.
If we analyse the frequency of entries, level bounces and B’n’G entries (after breaking support or resistance) appear more often. Overwhelmingly, we get either scenario. You can see it for yourself if you read our previous reviews of entries.
Horizon system includes all possible developments. For example, we take into account retest and modified retest patterns, when the chart stops us out of the market and we have to reenter. We analysed all possible developments, you just need to memorise them and put them into practice. You can download free Horizon system via the link below.
Get 10 free Horizon video lessons here