This is the FAMOUS Setup. I call this famous because it happens in a way that if you look at it at the close of NY everyone can clearly see that this market went UP this day.
So if the same momentum was to continue then... if the conditions are met, as shown on the chart, we can take a trade in the Long direction.
Condition: if the market stayed within this forecasted boxed range.
Then and only then, at the Frankfurt open,
we can go long and target the areas marked.
So if the same momentum was to continue then... if the conditions are met, as shown on the chart, we can take a trade in the Long direction.
Condition: if the market stayed within this forecasted boxed range.
Then and only then, at the Frankfurt open,
we can go long and target the areas marked.
Trade closed: target reached:
The Trade initiated at the London Open hit the proposed Take profit level just now... its a beautiful pattern.
If you have any questions or feedback please comment below. I love to read and reply.
If you have any questions or feedback please comment below. I love to read and reply.