I'm looking for an entry on EU. If you participated in the last trade you'll find it was a loss.. Given that you used proper risk management.. (1%-5%) You're fine.
Especially when only entering the market on trades with the risk being MINIMUM 3:1.
EU went into the 30 Minute AOI (Area of interest) and broke equal highs. (Liquidity grab/stop hunt) and made an exhausted wick.
It also retraced into the premium discount prices on the fibs.
Premium Prices = .786, .835, and .886
I'm looking for it to break structure making a "lower low" to come back and enter on the test of the open of highlighted candle in red.
- However, it could push a little higher. I'm not looking to enter until there is a break of structure.
The stop loss would be at the close of that candle. (Will update the trade idea as it develops)
It is important to note that the dollar made equal highs. They should get ran (Stop hunt) before the dollar decides what it wants to do.
I expect the DXY to retrace and at least fill the IPA If not make it to the 4H AOI
Disclaimer: I'm a student just like all of you. (You should always remain a student) I am not a financial advisor
TRADE AT YOUR OWN RISK
Especially when only entering the market on trades with the risk being MINIMUM 3:1.
EU went into the 30 Minute AOI (Area of interest) and broke equal highs. (Liquidity grab/stop hunt) and made an exhausted wick.
It also retraced into the premium discount prices on the fibs.
Premium Prices = .786, .835, and .886
I'm looking for it to break structure making a "lower low" to come back and enter on the test of the open of highlighted candle in red.
- However, it could push a little higher. I'm not looking to enter until there is a break of structure.
The stop loss would be at the close of that candle. (Will update the trade idea as it develops)
It is important to note that the dollar made equal highs. They should get ran (Stop hunt) before the dollar decides what it wants to do.
I expect the DXY to retrace and at least fill the IPA If not make it to the 4H AOI
Disclaimer: I'm a student just like all of you. (You should always remain a student) I am not a financial advisor
TRADE AT YOUR OWN RISK