Trade Mark up Date: Sept 17th 2023
General Idea
- Scissors Trade
Trade setup: Identify a an engulfing candle stick ( Bullish engulfing or Bearish engulfing) on the 4Hr. Then grab your fib and place it from the top of the candle to the bottom of the candle. Next grab a white dotted ray and place it at the 50%. Make sure to delete the fib after identifying the 50% mark. Now we are waiting for a break above or below at the 50% followed by a retest at the same 50%.
Execute: Break and retest
Overall idea for this week:
This week the market is consolidating, but it is important to still identity the engulfing candle stick that is within the box. We are going to watch how the market reacts to the 50% and place a position.
Standard Rules
*Position Type: Limit orders and Market Execution orders ONLY
* SET AN ALRAM
SvTP 1: 100pips
TP 2: 200pips
TP 3: 300pips
SL: 80-100pips
General Idea
- Scissors Trade
Trade setup: Identify a an engulfing candle stick ( Bullish engulfing or Bearish engulfing) on the 4Hr. Then grab your fib and place it from the top of the candle to the bottom of the candle. Next grab a white dotted ray and place it at the 50%. Make sure to delete the fib after identifying the 50% mark. Now we are waiting for a break above or below at the 50% followed by a retest at the same 50%.
Execute: Break and retest
Overall idea for this week:
This week the market is consolidating, but it is important to still identity the engulfing candle stick that is within the box. We are going to watch how the market reacts to the 50% and place a position.
Standard Rules
*Position Type: Limit orders and Market Execution orders ONLY
* SET AN ALRAM
SvTP 1: 100pips
TP 2: 200pips
TP 3: 300pips
SL: 80-100pips