we see again a Weekly pin bar at a swing high, plus d1 shows pretty much a bearish engulfing ( by open and close.
On engulfing i play the low of the previous bar as the entry point and then h1 for entry.
I like the high time frame bias, ultimately would like more confluence with fibs or ATR but not here at the moment.
Last time we had this sort of w1 and d1 bias, this sort of trade took 130 pips in profit so I'm keen to use this sort of probability again.
On engulfing i play the low of the previous bar as the entry point and then h1 for entry.
I like the high time frame bias, ultimately would like more confluence with fibs or ATR but not here at the moment.
Last time we had this sort of w1 and d1 bias, this sort of trade took 130 pips in profit so I'm keen to use this sort of probability again.
Comment:
Looking to RBA minutes to spur this lower
Trade closed: stop reached:
didn't have TP on my order - that was stupid! should have been a winner for about 60 pips.