Note: there is 2 available set-ups on this chart, personally, will enter a limit order for the first setup first, and not both at once. Although both set ups are valid, Mr Market is always right, and do not want to be caught suffering 2 straight losses at one go; be more defensive will be good in the longer term.
First:
Long @ 1.3313
Reason:
1. Prior consolidation before strong up move, shows hidden buying activities at this region - buyers will be likely to defend their positions at this level
2. Prior rejection candle level broken through – resistance has now became a support level
Our Trade Setup will be:
EP: 1.3313
SL: 1.3293
TP: 1.3333
Second:
Long @ 1.3303
As you can see both orders are pretty close to one another. Hopefully the first order will be a “touch and go” situation.
Reason:
1. Prior consolidation before strong up move, shows hidden buying activities at this region - buyers will be likely to defend their positions at this level
2. Prior rejection candle level broken through – resistance has now became a support level
Our Trade Setup will be:
EP: 1.3303
SL: 1.3283
TP: 1.3323
Notice our reasonings are always almost the same – our validation is consistent, as long as our win-rate is high, our trading should always be profitable consistently.
Best Regards,
NourCapital - Tracking Smart Money Flow
Disclaimer:
The material (whether or not it states any opinions) is for educational purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by Nour Capital or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
First:
Long @ 1.3313
Reason:
1. Prior consolidation before strong up move, shows hidden buying activities at this region - buyers will be likely to defend their positions at this level
2. Prior rejection candle level broken through – resistance has now became a support level
Our Trade Setup will be:
EP: 1.3313
SL: 1.3293
TP: 1.3333
Second:
Long @ 1.3303
As you can see both orders are pretty close to one another. Hopefully the first order will be a “touch and go” situation.
Reason:
1. Prior consolidation before strong up move, shows hidden buying activities at this region - buyers will be likely to defend their positions at this level
2. Prior rejection candle level broken through – resistance has now became a support level
Our Trade Setup will be:
EP: 1.3303
SL: 1.3283
TP: 1.3323
Notice our reasonings are always almost the same – our validation is consistent, as long as our win-rate is high, our trading should always be profitable consistently.
Best Regards,
NourCapital - Tracking Smart Money Flow
Disclaimer:
The material (whether or not it states any opinions) is for educational purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by Nour Capital or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Trade closed: target reached
TP hit!
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.
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.