We have twopossible positions on the
GBPAUD
If price touches either of the area, the other becomes invalidated. In other words, if price touches the red area, the blue becomes invalidated and vice versa.
1. If price touches the blue/red area, check if there is divergence on either MACD or stoch. If step 1 is fulfilled, continue.
2. If step is 1 fulfilled, we want to see either a double- bottom , top or w/m pattern forming on 15m or 5m. Will demonstrate those patterns when the time comes. If step 2 is fulfilled, continue.
3. TP/SL will be set when necessary price action takes place in those areas. We will always wait for pullback no matter what. No pullback, no trade. If step 3 is fulfilled, continue.
4. Long when PRICE makes higher high/lower low. If it doesn't and instead makes lower low/higher high, abort this potential LONG/SHORT.
GBPAUD
If price touches either of the area, the other becomes invalidated. In other words, if price touches the red area, the blue becomes invalidated and vice versa.
1. If price touches the blue/red area, check if there is divergence on either MACD or stoch. If step 1 is fulfilled, continue.
2. If step is 1 fulfilled, we want to see either a double- bottom , top or w/m pattern forming on 15m or 5m. Will demonstrate those patterns when the time comes. If step 2 is fulfilled, continue.
3. TP/SL will be set when necessary price action takes place in those areas. We will always wait for pullback no matter what. No pullback, no trade. If step 3 is fulfilled, continue.
4. Long when PRICE makes higher high/lower low. If it doesn't and instead makes lower low/higher high, abort this potential LONG/SHORT.
Comment:
Price touched the blue area. Divergence is visible and the w-pattern is completed. Going to wait for a break of significant pullback before we go long.
Comment:
failed