Todays butterfly bullish on NZDUSD offering around 10:1 Reward Risk ->
I did not take this trade, but it's a good example to discuss the entries method:
how do you guys usually enter?
1. you try to enter at the PRZ level (confluence of some Fibonacci levels or previous Sup/Dem level or whatever) without confirmation of the strenght? OR
2. you wait for a signal of strength, and only then enter already during the move up (represented by blue line) OR
3. you wait for a signal of strenght (blue line), then you wait for deep correction (like here on the screenshot represented by red line) and only then enter Long?
scenario 1 is most risky but you enter best
scenario 2 makes you not entering optimal
scenario 3 offers amazing good RR, but if there is no deep correction we would miss the trade
I personally like scenario1 and scenario 3. I never use scenario 2.
