Trade Setup (30/10/2024) - GER40 Long on Daily / 4H FVG
1. Setup: Entering a long position within the Fair Value Gap (FVG) on the daily and 4-hour timeframes, as this zone serves as a key demand area.
2. Entry strategy:
- Target: 1:2 RRR.
- Risk: 1% of account.
- Confirmation: Look for signs of bullish support or reversal patterns within the FVG zone, such as a bullish engulfing candle or strong rejection wick on the 4H or daily chart.
3. Stop-loss and take-profit:
- Place stop-loss just below the FVG to manage downside risk.
- Take-profit set at twice the stop-loss distance, aligned with nearby resistance or supply levels for a 1:2 RRR.
4. Additional considerations:
- Monitor macroeconomic news and European market sentiment that could impact GER40.
- Wait for solid bullish signs within the FVG to ensure higher probability for upside momentum.
This setup leverages the multi-timeframe FVG as a demand zone, aiming for a high-probability long entry if price shows support within this area.
1. Setup: Entering a long position within the Fair Value Gap (FVG) on the daily and 4-hour timeframes, as this zone serves as a key demand area.
2. Entry strategy:
- Target: 1:2 RRR.
- Risk: 1% of account.
- Confirmation: Look for signs of bullish support or reversal patterns within the FVG zone, such as a bullish engulfing candle or strong rejection wick on the 4H or daily chart.
3. Stop-loss and take-profit:
- Place stop-loss just below the FVG to manage downside risk.
- Take-profit set at twice the stop-loss distance, aligned with nearby resistance or supply levels for a 1:2 RRR.
4. Additional considerations:
- Monitor macroeconomic news and European market sentiment that could impact GER40.
- Wait for solid bullish signs within the FVG to ensure higher probability for upside momentum.
This setup leverages the multi-timeframe FVG as a demand zone, aiming for a high-probability long entry if price shows support within this area.
Trade closed: stop reached
-1%
Fondera | Data-Driven Trading Excellence
💰Watch me trade live: youtube.com/@Fonderaio
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💰Watch me trade live: youtube.com/@Fonderaio
🚀 Discover actionable strategies: x.com/fonderaio
🌐 Explore my journey: fondera.io
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Fondera | Data-Driven Trading Excellence
💰Watch me trade live: youtube.com/@Fonderaio
🚀 Discover actionable strategies: x.com/fonderaio
🌐 Explore my journey: fondera.io
💰Watch me trade live: youtube.com/@Fonderaio
🚀 Discover actionable strategies: x.com/fonderaio
🌐 Explore my journey: fondera.io
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.