AUDUSD 4H is at the bottom of a range box. In the comments below tell us what you think the answers are to these questions and charts to show your answer. Those that find the most answers, your names will be placed in a hat and a name will be drawn for the winner of our "DO YOUR HOMEWORK" contest. 4 H chart 1 - Where could the market take price? 2 - Where would your take profit levels be on this chart?
1 H chart 1 - How would you enter this trade on this 1H chart? 2 - Where would your take profit levels be on this chart?
15m chart 1 - How would you enter this trade on this 15 m chart? 2 - Where would your take profit levels be on this chart?
Comment
⋅
Since Irena and Billy were the only two comments they both win. I just need to figure out how to get a $10 gift card to each of you. I will PM each of you.
HOMEWORK
H4 Retest Triangle B.O Level /previous Resist.Level/, a. TP Zone 0,79491-0,79733, b. TP 50 SMA, c. TP when the Price cross Alligator red line /Asian Fractal Break Trade/ Exit. H1 ENTER B.Out,wait Pull Back to the Top of the Range Box,/ wait the cross Psych.Level 0,7900/.H1 TP Level 0,78893-0,78693/Height of a Range Box/ M15 a.Enter 1. Pending Order/Buy Stop at 0,79010 b. Enter 2. Pin Bar and Buy at the opening of the next Candle SL below Pin Bar c. Enter 3. Doji+Bullish Confirmation. TP Zone:0,79491-0,79733.
Tradingstrategyguides
⋅
@IrenaDjukic, Any chance you drew that on a 1H and a 4H chart you can share with us. Great combination of coverage of entries and exits.
Billymaggot
⋅
4 hour looks like it's the end of a correction so would enter long
I hour looks like it might be the start of a 3 or probably 5 wave within the first wave of the 4 hour chart, would wait until it retraces and enter long on wave 3
15 min wait until it retraces then enter long
Tradingstrategyguides
⋅
@Billymaggot, Great - you have an eye and a feel for the market that is awesome and fast, it's like a second nature to you. thanks for your comment. AND YOU WERE THE FIRST!!
H4 Retest Triangle B.O Level /previous Resist.Level/, a. TP Zone 0,79491-0,79733, b. TP 50 SMA, c. TP when the Price cross Alligator red line /Asian Fractal Break Trade/ Exit. H1 ENTER B.Out,wait Pull Back to the Top of the Range Box,/ wait the cross Psych.Level 0,7900/.H1 TP Level 0,78893-0,78693/Height of a Range Box/ M15 a.Enter 1. Pending Order/Buy Stop at 0,79010 b. Enter 2. Pin Bar and Buy at the opening of the next Candle SL below Pin Bar c. Enter 3. Doji+Bullish Confirmation. TP Zone:0,79491-0,79733.