HLC Open with Halfback Strategy

3 小時前

Step 1: Understand the Indicator
Key Levels:
Pivot (PIV): The central point for support/resistance.
High (PDH) and Low (PDL): Previous day’s high and low levels.
Mid: The halfway point between PDH and PDL.
TC (Top Central): The upper range of CPR (Central Pivot Range).
Resistance/Support Levels:
R1, R2, R3: Resistance levels above the Pivot.
S1, S2, S3: Support levels below the Pivot.
CPR Width:
Indicates market volatility:
Very Narrow CPR: Expect a breakout.
Wide CPR: Range-bound trading is likely.
Step 2: Set Up for Intraday Trading
Timeframes:
Use the 5-minute or 15-minute chart for entries.
Reference the daily CPR levels for key breakout or reversal zones.
ATR and CPR Width:
Use the displayed CPR width and ATR to assess profit targets and stop losses.
Step 3: Identify Buy/Sell Opportunities
Buy Setup:
Conditions:
Price breaks above the previous day's high (PDH).
Retest of the PDH with a bullish candle or at the Pivot (PIV).
CPR width suggests breakout potential (narrow range).
Entry:
Enter on the candle that confirms the breakout or retest.
Target:
Target R1 or R2 levels for profit.
Use ATR to define your risk (e.g., stop loss below Pivot or PDL).
Sell Setup:
Conditions:
Price breaks below the previous day's low (PDL).
Retest of the PDL with a bearish candle or at the Pivot (PIV).
CPR width suggests breakout potential (narrow range).
Entry:
Enter on the candle that confirms the breakdown or retest.
Target:
Target S1 or S2 levels for profit.
Use ATR to define your risk (e.g., stop loss above Pivot or PDH).
Step 4: Position Sizing
Capital Allocation:
Assume a $1,500 profit per trade to achieve $3,000 in two trades.
If your account is $50,000, risk 2% per trade ($1,000 per trade).
Lot Size:
Calculate lot size based on ATR and your stop loss distance.
Step 5: Execution Strategy
Confirm Key Levels:
Monitor how price reacts to PIV, PDH, PDL, and CPR.
Follow Trend:
Align with the dominant trend. Avoid counter-trend trades unless at extreme levels (R3, S3).
Set Alerts:
Use alerts for price approaching key levels.
Example Plan for 3K Goal:
Buy Scenario:
Price breaks PDH with a narrow CPR.
Enter long at the retest of PDH at $10,000.
Target R1 at $10,500 for a $500 move, scaling up to achieve $1,500 with leverage or larger position size.
Sell Scenario:
Price breaks PDL with a narrow CPR.
Enter short at the retest of PDL at $10,000.
Target S1 at $9,500 for a $500 move, scaling similarly.
Tips for Success
Focus on Quality: Look for clean setups at key levels.
Manage Risk: Use a stop loss based on ATR and adjust position size to stay within your risk tolerance.
Be Patient: Wait for retests or confirmation before entering trades.
Stick to Your Plan: Stop trading after achieving two winning trades to avoid overtrading.
By following these steps, you can effectively use the indicator for intraday trades while targeting consistent profits.