The One Hour Bracketed back set up

This set up is derived from the one hour trade plan

And as you know all charts build the same way, with that in mind let’s look at how we can use and adjust the set up to benefit us when the 4 hour does not do what we want it to do.

Ok like the on hour trade plan you are looking for a Set up on the 4 hour and confirming with the lower charts. But, what you are looking for is for the CCI to be at the +100 line coming down from the over bought (outside the +100 line). With the 4 hour in that position the 1 hr chart should be and must be flat just above the 0 line on the CCI, and it must be coming from he over bought status. If this presents itself in this manner you have a basic set up for the bracketed back 1 hour trade.

Validating the monitor.
There are really two more things that you must do to validate this set up you must have CCI and the EMA’S in your favor when doing this trade.
1) the 30 minute CCI must be at the bottom (the CCI should be at the oversold the farther out the better)
2) The EMA’S must be going the direction that you wish to trade in. (on the 30,1 hour, and the 4 hour)
Stop loss setting
You will need to set a larger stop loss, this is required because you will most likely have to ride out some type of a retracement or pull back. So you must go to the 4 hour chart and measure from the price to the next obstruction and make sure that you will be out side of it with your stop loss. If the distance is more then 50 pips then you should set the stop loss where you are comfortable.
The key to this is trade plan is to check the distance on everything.