逢低买入，逢高卖出 (Buy the dips, sell the rallies)

This is an outline of the strategy I am currently trading and an example. I trade the London Session on DAX and I'm normally stop after an hour and half (although there are plenty of times when the action comes later in the day) to limit my time. Firstly, weekly review of the high time frames, looking at D1 and H1, but my main interest is m15 for direction and target and m1 for entry. I will try to align the trade with Elliot waves, but this particular post is focusing on the trade setup.
These are the basic checks:

1. Check for news and higher time frame (h1 & d1) for potential reversal levels and trend
2. Look at m15 for target, favourable price action and direction
3. Good m1 move up
4. Retrace with Accelerated Correction (AC) or Level Flip
5. Confluence - usually a strong level(s)
6. Setup candle(s)

The first image is a look at m15. We see that from LO a break of ONH and then followed by strong impulsive candles up.
The second image is the story on m1

Trade management - after a break above the previous high I set SL to BE. I was lucky not to get stopped out here when the price retraced below ONH, but it held. With the low pip risk entry I was able to trail out early and resisted getting too greedy. Could of gone either way, but as long as I am above 3R per trade I am happy.
In this case I decided to set trail candle at the M5 TP and I exited for 8R (1% risk would give 8%). This was one of the better trades, although I would normally aim for at least 3R which keeps me in profit with the win rate which is more than 35%.
I have been trading this strategy for 2 years now and still learning something everyday. As with all trading the most important is Discipline and Patience and with it we shall get our rewards.