rozela99
Long

NZDUSD Long off of Daily Structure

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
71 2 2
a year ago
I will be waiting for a entry reason to get log down at the daily structure level I have been
looking at for the last few days.
a year ago
Comment: +31 pip winner!

Related Ideas

prtrading
a year ago
Quick Question.

Why would you play a potential double bottom when the higher time frames clearly show a double top consolidation in a long term downtrend?

Reply
rozela99 prtrading
a year ago
Good question. We have to remember the movement on the 1hr is so small in comarison to the move on the daily chart. I plotted the structure level of the daily chart. My prediction was we would have some sort of test at that level.
We also had the completion of an AB=CD pattern at that level. Along with Fib extentions at that level. Based off of my trading plan if price would test the daily structure level I would then look for a double bottom as an entry reason to get long. Now if I would have saw the traade set up and I could have gotten at least a 1 risk to a 1.5 reward I could have entered using a market order. Everything I do is based off of my trading plan that I have backtested and have full belief in.

To be a successful Trader we must have a plan with percise rules and be discipline to follow those rules 100% of the time.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out