PriceActionTrading
Short

EURGBP RE ENTRY INTO BEARISH MOMENTUM

FX:EURGBP   Euro / British Pound
158 2 6
D1 FORMED A DOJI INSIDE A PIN BAR . MY FAVOURITE KIND OF TRADE.

REQUIREMENT TO TRADE THIS INSIDE DAY FAKEY IS AS FOLLOW AND MUST BE FOLLOWED :

H4 MUST GO ABOVE THE HIGH OF THE D1 MOTHER BAR 0.734.
H4 MUST NOT CLOSE ABOVE 0.734 AFTER IT GOES ABOVE IT
IF H4 MANAGED TO CLOSE ABOVE 0.734, THE SUBSEQUENT H4 BAR MUST CLOSE BELOW 0.734
I WOULD IMMEDIATELY ENTER SELL UPON A CLOSE BACK BELOW 0.734

ITS A VERSION OF BULL TRAP

REASON I PICK THIS AS MY RE ENTRY POINT IS TO MAXIMISE RISK REWARD.
CONSERVATIVE TRADERS WOULD OF COURSE PUT A SELL BELOW 0.725 - 0.728.

PEOPLE WHO FOLLOW ME WILL KNOW HOW GOOD THIS INSIDE DAY FAKEY TRADE SETUP IS.
HAPPY PIPPING.

FOLLOW AND LIKE MY IDEA IF YOU WOULD LIKE TO SEE MORE OF IT.
Turned out to be such a good trade.
Reply
LOOKS LIKE NO RE ENTRY FOR ME.
PRICE BROKE BELOW D1 MOTHER BAR.
Reply
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