Trade type AAA
Reasons for taking this trade:
Trade hit weekly demand and created the first OB that mitigated the first supply zone
After hitting weekly demand it created an OB and since liquidity lies below OBs and the price had nit hit daily OB it had to retrace back and clear liquidity below OB.
Then the trade retraced to and near first supply zone in which after that it created equal highs and lows which were cleared using the exgf move
After clearing equal highs and lows the pair went down to create TWO OBS - one with a Higher high and this where we got our entry,
Target is the daily demand.
Trade type glossary:
Trade type AAA - Very good
Trade type BBB - Good
Trade type CCC -🧐
I usually use trade types to determine the amount of risk to use:
In AAA - 1, 1.5 and 2%
In BBB - 0.5%
IN CCC - 0.25%
Reasons for taking this trade:
Trade hit weekly demand and created the first OB that mitigated the first supply zone
After hitting weekly demand it created an OB and since liquidity lies below OBs and the price had nit hit daily OB it had to retrace back and clear liquidity below OB.
Then the trade retraced to and near first supply zone in which after that it created equal highs and lows which were cleared using the exgf move
After clearing equal highs and lows the pair went down to create TWO OBS - one with a Higher high and this where we got our entry,
Target is the daily demand.
Trade type glossary:
Trade type AAA - Very good
Trade type BBB - Good
Trade type CCC -🧐
I usually use trade types to determine the amount of risk to use:
In AAA - 1, 1.5 and 2%
In BBB - 0.5%
IN CCC - 0.25%
Trade closed: stop reached:
Unfortunately the price hit the 'first supply mitigated zone' (check chart) for the second time and this caused the drop and our SL to be hit.
Also the price has to break a weekly resistance to push up.
Also the price has to break a weekly resistance to push up.
