5M检疫 (5M Quarantine)

5M Quarantine

Hello to all,

I have decided to take up on short term trading (last did it long time ago) because I am going bored out of my mind with this necessary quarantining deal, sadly it will last for quite some time. Obviously many are in the same boat as me so interacting won’t hurt either especially if I can help others to skin some profit during such tough times.
I get right to it.

D1>>>>> 5M>>>>> PB>>>>> DT/DB>>>>> DiV>>>>> CC 10EMA = Signal … simple

It's mostly common Price Action with some structure around it for discipline purposes.

* D1) The Daily TF candle of previous day will decide your direction for Short or Long.
* 5M) 5 minute TF, is where you enter and do rest of your analysis.
* PB) Pullback from last Low or High point.
* DT/DB) Double Top, Double Bottom… or any level that shows multiple failures is good to go.
* DiV) MACD Divergence... Keeps you out of premature entry.
* CC 10EMA) Cross Close Candle of 10ema. After convincing failure first CC of 10ema is a signal.
* SL… goes above or below the PB high or low. (Usually it’s about 20/25 pips)
* TP… Minimum 1R… or stay in it till the strength is there, now days you can a 100 easily, so don’t limit the potential.
* Risk… 0.1% of your equity ($1000 acc = 1 mini lot 0.1 = $1)

The Chart pictures below should clear away the whole deal. Obviously there will be questions, however in one paragraph below I walk it though necessary process.
Each day when the Daily candle closes you will decide if you should go short or long in that pair on the following day. If you cannot decide on the direction firmly, just pass on that pair, there are 20+ other ones who some of them are clearly decidable. Then, when spot a solid strong bearish or bullish daily candle it is all you need, it’s a good enough indication and momentum for continuation. Then, open the 5M TF, wait for PB, it’s only a matter of time before price pulls back at some point, when it does, draw your level which is the high or low of the PB or other recent level that price will react to most… if it coincides with days before level, even better. Then, you look to see the PA to fail breaking out of that level which are called Failures to form DB/DT or multiple bounces. Then, you look for MACD Divergence, it's just another confirmation, I mostly use it to keep out from premature entry. Then, you just wait for last confirmation which is first candle to CC 10ema and rest is history.
I recommend to avoid trigger the first 3hrs of Daily candle, bcz it’s a slow PA and spreads are typically higher, wait for Asian and on. I myself because of living in the West coast time zone can only trade Asian session and N.Y session, London session is the lucrative one, ya you lucky Europeans, lol.
That's it.

Folks, I may have missed something here and there please don’t beat me up for it… simply ask and I'll clear it away then add to first post.

Last but not least, I ask for nothing but respect, all around respect.

Thank you.