The premise for this trade comes from the weekly.Last week's candle showed price could not penetrate and close within the weekly SSB which is is a very strong support area.We know price will go in the area of least resistance all things being equal,so the strong weekly SSB means the other alternative will be up.It made a some kind of doji and from here i was looking for longs. We are in between the monthly tenkan and SSB so our next price magnet zone is monthly SSB zone which also happens to be a whole number zone of 1.0900. Entry is taken on H4.
Entry: 1.08285
SL : 1.0806
TP : 1.0900
R : 3.18
Risk Management as always is critical...no trade has a 100% guarantee!
Good to be back!!
Entry: 1.08285
SL : 1.0806
TP : 1.0900
R : 3.18
Risk Management as always is critical...no trade has a 100% guarantee!
Good to be back!!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.