MEW scalp - August scalping journey trade Nr. 4No loss so far in this month, lets try to continue with this streak. ⚡
Late night session for me today and I am possibly holding this one over the night if it gets filled. I am trying this bid on MEW as I told you just slightly different. I am going to bid the 4H Supply Breaker with a smaller stop loss. I may be updating it later in the night so if you don't like to hold it over the night, don't do it. Risky setup because it's going to run during the night so manage accordingly.
4-Hour Supply Breaker:
The 4-hour supply breaker is identified on the chart. This zone indicates a previous area where selling pressure was significant, but now it could act as a strong support area, hence termed a "breaker."
Break of Structure (BOS):
Multiple Breaks of Structure (BOS) are marked on the chart, showing key levels where the market has shifted from a downtrend to an uptrend, confirming the change in market sentiment.
4-Hour Fair Value Gap (FVG):
The 4-hour Fair Value Gap is another critical zone. This gap often attracts the price to fill it, providing a potential area for entry.
12-Hour Fair Value Gap (FVG):
Additionally, there is a 12-hour FVG, which can serve as a further confirmation of the support level and the potential for price to rebound from this zone.
Holding the position overnight adds to the risk since the market can experience volatility during non-active hours. It is crucial to be comfortable with this aspect of the trade.
