A Promising Trading Strategy
The star trade of the week. I'm currently waiting for a shorting opportunity on the bearish shark pattern off the weekly chart.
Trading off the weekly chart directly would send my initial risk through the roof. While we could always reduce our trading size when trading off the higher timeframe, it doesn't make sense to me.
I'll be waiting for a bearish 5-0 pattern to complete at 110.56. My initial stop-loss is at 110.96, which is approximate -40pips or -400USD/lot.
My first target is at 109.96, which is approximately 1,000USD/lot.
However, there's also a bullish shark pattern that has completed at 109.96, so there's no reason why you can't engage on that as well.
Remember, it's important to plan your trade and trade your plan. Never follow any trader blindly.
Trading off the weekly chart directly would send my initial risk through the roof. While we could always reduce our trading size when trading off the higher timeframe, it doesn't make sense to me.
I'll be waiting for a bearish 5-0 pattern to complete at 110.56. My initial stop-loss is at 110.96, which is approximate -40pips or -400USD/lot.
My first target is at 109.96, which is approximately 1,000USD/lot.
However, there's also a bullish shark pattern that has completed at 109.96, so there's no reason why you can't engage on that as well.
Remember, it's important to plan your trade and trade your plan. Never follow any trader blindly.
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Live session & Trading Tips on the GO
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Get into our 15mins workday community
discord.gg/AKDr9vPqH7
Live session & Trading Tips on the GO
tiktok.com/@raynlim
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