I was looking forward to sell from the top i marked, but the Double hammer on the blue line is telling me not too. I wanted to scalp for 25 to 30 pips with a sell entry…
It’s a perfectly plausible trade idea.
For that trade to fit my approach I’d be watching this distribution zone.
We’ve tested the zone you reference a few times and keep on up. I think it might need a fresh cluster of sell orders to move it down significantly - yknow, maybe, what do I know…? lol
Pure luck look at that wick top… that’s the same trendline we drew yesterday… wish I’d got in on that trade now LOL
@BenP What is your trading strategy?
Are you looking for 30 to 50 pips daily or you take long term trades?
What are you trading today?
I will be trading GU. I will be buying all the dips until it break the support at 1.21412…
What is your say to that?
I take two positions per trade, I try and profit ATR on trade 1 and move my stop to entry for the 2nd trade in the hope that some will run. My trades can be over in minutes lol but my longest is about 10 days I think, just depends on how the markets are moving.
I have two positions open:
SHORT EURNZD
SHORT USDJPY
Both have taken profit 1 and are runners so we’ll see…
I have alerts set for GBPUSD at about 1.20900; a return to this zone and I’ll have a look at the structure with a view to going long with any buy orders that weren’t filled with the earlier move.
I think we have a similar approach to finding trades, right?
Yes… Almost similar I also BE my trades as soon as I am in 10 pips of profit. My first tp is always 30 pips the next is 50 pips and if I have entered on trend reversal then I let my last trade run for 500 to 1000 pips.
Will share If I trigger an entry.
Watching like a hawk this end @Orangebear2
Although, there is high risk news due for USD at lunch so this is risky!!