Risking just 100 pips, we are targeting 300 pips as our profit target.
The 100 pips is just to give this trade enough space for the spikes during the NFP data release but i'm quite certain that the spike won't hit our stop due to the space we've given it !.
This is a 3:1 trade.
Trade responsibly !.
Use proper risk and money management before executing this trade !.
Don't be greedy !.
Confluences for the SELL trade:
1. Chart patterns
2. Price has been severly overbought.
3. There is a clear solid resistance at the overbought psychological level
4. Candlestick patterns signaling massive bearish presence
5. Even if price won't sell 1000 pips, it must at least pullback to our retracement levels, hence the Fib Retracement Tool.
Final Confluence you need to wait for before opening any position:
1. Break of the trendline
2. Shooting star and a bearish candle that engulfs the shooting star
3. Confirmation of the NFP news release
The 100 pips is just to give this trade enough space for the spikes during the NFP data release but i'm quite certain that the spike won't hit our stop due to the space we've given it !.
This is a 3:1 trade.
Trade responsibly !.
Use proper risk and money management before executing this trade !.
Don't be greedy !.
Confluences for the SELL trade:
1. Chart patterns
2. Price has been severly overbought.
3. There is a clear solid resistance at the overbought psychological level
4. Candlestick patterns signaling massive bearish presence
5. Even if price won't sell 1000 pips, it must at least pullback to our retracement levels, hence the Fib Retracement Tool.
Final Confluence you need to wait for before opening any position:
1. Break of the trendline
2. Shooting star and a bearish candle that engulfs the shooting star
3. Confirmation of the NFP news release
