I just took a short trade on EURGBP which I hope will close during the London and/or New York sessions.
Why did I take the trade?
TP is set right before both the nearest major demand zone and the diagonal bottom support zone.
SL is set a little above the now-established swing high.
As always, let me know what you think of this trade idea! I'd love to hear your feedback.
Why did I take the trade?
- Price is moving within a parallel channel on the 1h chart and is most likely on its way down after having touched the top resistance zone
- A major bullish manipulation was followed by a smaller bullish manipulation (a.k.a. impulse moves). Based on these moves, I marked up a possible supply zone on the 4h (!) chart for the price to retrace back to, before continuing down
- Price action showed signs of weakness in the marked-up supply zone, breaking multiple consolidation structures. This signals a clear entry for me
TP is set right before both the nearest major demand zone and the diagonal bottom support zone.
SL is set a little above the now-established swing high.
As always, let me know what you think of this trade idea! I'd love to hear your feedback.
Dagangan aktif
That was a very close stop hunt, just now... but we managed to stay in. Now price will hopefully continue down!Dagangan ditutup: sasaran tercapai
Very smooth ride after the stop hunt. Awesome!
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.