hello new friends , please feel free to ask any question in comment .
@ anyways this is A+ set up .Every time that STRONG trend , and the market already Break the sctructure ! and you pull your fibs to by at discount price is always the ideal .
1 4h fair value gap that needs to e filled before the continuation to down side heavy ! some people call fair value gap some liquidity basically the same thing .
2 that's break and retest , meaning the support turn into resistance , and a lot traders use that strategy that gonna help push the price down
3 which is my favor is the fibs levels , as you might notice my fibs have 3 level of discount price on the good day we always looking at 1to 7 rr, sometimes 1:5 rr which pretty good .
4 last , we trading with very strong trend that means once the buyers can start falling apart we heading down a lot fast than come up :)
side note : I feel pretty good about this set up , I took the first sell down and hit tp and I was waiting for pull back for another nice continutaion
Trade closed: stop reached
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unfortunately the price never came up to the discount level at first and end up taking us out this trade . the preview trade on this we catch nice 1:5 rr and this 1 rr loss. the set up was but loss is part of trading , remember our true edge is the risk management .
@TheFxAce, thank you information this trade end up not playing out but the move down wetas able to get 1:5 rr , and this one turn out to be lost which happens 1 rr! risk management is import .