Trade of the week: Payper
Date mark up: October 22, 2023
XRPUSD
- Payper Trade
Trade setup: When the market is moving sideways use the box tool to identify the market consolidating. We are waiting for a break and retest for either a SELL or a BUY.
Execute: Clear break and retest from top or bottom of box.
The week we marked up a mini consolidation(A) within the greater consolidation(B).
During my call I discussed how both are trading positions but as a more knowledgeable trader we will want to wait for Consolidation B set up to happen to enter a Papyer trade.
Standard Rules:
*Position Type: Limit orders and Market Execution orders ONLY
* Only risk 5% of your account
TP1 100 pips
Tp2 150 pips
Tp3 200 Pips
XRPUSD - Payper Trade
Trade setup: When the market is moving sideways use the box tool to identify the market consolidating. We are waiting for a break and retest for either a SELL or a BUY.
Execute: Clear break and retest from top or bottom of box.
The week we marked up a mini consolidation(A) within the greater consolidation(B).
During my call I discussed how both are trading positions but as a more knowledgeable trader we will want to wait for Consolidation B set up to happen to enter a Papyer trade.
Standard Rules:
*Position Type: Limit orders and Market Execution orders ONLY
* Only risk 5% of your account
TP1 100 pips
Tp2 150 pips
Tp3 200 Pips
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