I have carefully explored the top 3 ways to get sniper entry as a trader in this article. Let’s get right into it!
First, What Is A Sniper Entry?
Sniper entry means entering, opening, or placing a trade at the best possible point in the market, typically at the very lowest or highest of a bullish or bearish trend. Simply put, Sniper entry is an entry system that helps you recognize high, possibly breakout trades.
Top 3 Ways to Get Sniper Entry That Other Top Traders Use
1. Carry Out Your Technical Analysis on The Higher Timeframe(s)
A trader must find the location or peak where a retracement will end to get sniper entry. This can be achieved by knowing the market movements and how to respond to the different structures. More significantly, understanding the structure the market might likely react to.
Conducting technical analysis on higher timeframes allows you to understand the market structure better. After that, you can narrow it down – I have discussed this in the next step.
2. Move Down to A Lesser Timeframe
After identifying the overall market trend on a higher timeframe, consider moving to smaller time frames. Technically, the smaller the time, the better it is.
Many traders argue that M5 and M15 are the best time frames to get the best sniper entries. However, the big question is, which of these timeframes is actually the best?
It is no longer news that a trend first begins and ends in the lower time frames. In other words, a change in trend occurs on the smaller timeframes before a trend change occurs on the higher time frame. Therefore, to get the possible top entry, a trader must move down to the lowest time frame he’s comfortable with.
Therefore, we can safely say it is better to choose the M5 timeframe. But then, it depends on several factors. So, instead, I’d rather say you can use the M5 time frame to determine ‘‘when’’ to enter, while the M15 is the best use to determine ‘‘where’’ to enter.
3. Identify Price Rejection Areas
Moving down to a smaller time frame will take us to price rejection. However, to fully understand how valuable lower timeframes are, one must first understand that one of the unique characteristics of the market price is that “it always likes to repeat itself.” This means that price tends to enter (retrace) into an area where it was previously rejected, only to be rejected again in the reverse direction.
In that case, you can use its repetitive nature to earn profit by entering the area where the price was previously rejected. i.e., the previous higher high (or lower low).
At the area where the price is expected to make a complete trend reversal on a higher time frame, a trader could move down to the smaller time frame(s) to either: wait for a broken structure to show a trend reversal (conservative technique) or price to enter the location where it was previously rejected (aggressive technique).
Final Thoughts On How To Get Sniper Entry As A Trader
Developing and mastering your “go-to” strategy is key to becoming a consistently successful trader. Regardless of what works for you, remember that the ultimate rule to having sniper entries is being patient and disciplined as much as possible. Anything short of this, you risk giving some of – if not all – your money to the market.
Related Articles