Another entry on UC following overall order flow 1. MA's in directional bias 2. Daily PA. Biased as a bullish uptrend 3. Breakout Only downfall is that wasn't the best break and close but it will have to do keeping it simple and awaiting retail money to flow into the market :) We'll see how this one plays out though it's been a good run of trades so far.
... Not the best setup at all but i couldn't help to this EU is getting ready for another leg lower completing it's fib 1.24 - Entered based upon the breaking of the previous low now turned into minor resistance for an continuing move lower.
So aussie unfortunately we didn't manage to secure the intial buying opportunity i was expecting 1.34 to hold as support for within this consolidation range. but instead we ended with a break below structure on the daily and 4Hour T.F - Expecting a further corrective structure decline down into 1.33200 - from the HH point
So aussie unfortunately we didn't manage to secure the intial buying opportunity i was expecting 1.34 to hold as support for within this consolidation range. but instead we ended with a break below structure on the daily and 4Hour T.F - Expecting a further corrective structure decline down into 1.33200 - from the HH point.
1. Breaking of intra day structure 2. Overall daily & weekly bias indicating further decline 3. Clear daily LH + LL's 4. Entry signal was pinbar retracement & rejection.
Entered this trade based upon several different factors all stated below. 1. Market seem like it was finding trouble breaking structure at @0.78 Seems as if there was a accumulation of orders in this region 2. This was then confirmed by the recent daily pinbar rejection suggesting short / long term potential bullish movement in the market 3. We then scaled into...
Market showing signs of weakness in overbought conditions / Potential decline is aspect for the market to complete it's HH + HL Cycle.
1. Daily Price Action - Achieved 2. Daily EMA'S - Achieved 3. 2.5% Risk - Achieved 4. Signal (Breakout) - Achieved. 5. Buy Low, Sell high - Negative. (Slight risk in the possibility that the market may reverse before continuing lower) Trade taken upon the principles that the market will follow overall order flow from Daily timeframes scaled into 4-6H for my setup.