MatthewLundgren

MatthewLundgren

Setup Timeframe: 4H Execution Timeframe: 4H Risk: 2.56% Reward: 3.84% Reasons for Entry: Shown rejection of upper channel trendline, and at double top. Reasons for SL Placement: Above rejection wick, out of noisy area. Reasons for TP Placement: Just above double bottom. Note: Idea from FMG.

MatthewLundgren

Setup Timeframe: Daily Entry Timeframe: 4H (Order Set) Risk: 2.74% Reward: 6.79% Reasons for Entry: Entry near 61.8% fib level, and at previous resistance level that should now act as support. Reasons for SL placement: Below the 78.6% level. Reasons for TP placement: Near the -0.27 fib extension level, below current R1 level. Note: Idea from Corey

MatthewLundgren

Setup Timeframe: 4H Execution Timeframe: 4H (Order Set) Risk: 2.77% Reward: 8.23% Reasons for Entry: Previous support zone broken, will now turn to resistance, so BRC situation. Setting entry at 50% fib level. Reason for SL placement: Well above the 61.8% fin level, at the R1 level, and above the previous support zone that should act as resistance. Reason for...

MatthewLundgren

Setup Timeframe: 4H Execution Timeframe: 1H Risk: 3.1% Reward: 7.72% Reason for Entry: ABCD Pattern, at the end of C leg. Bouncing off near 61.8% fib level, and R1 level from above. And bouncing off 50 EMA 4H. Reason for SL Placement: Below 61.8% level, and below 1.01, which is a strong resistance turned support, also bank level. Reason for TP Placement: Near...

MatthewLundgren

Appears to be at the end of the C leg, bouncing off 61.8 fib level, and previously broken R1 level. Also bouncing off 50 EMA on the 4H chart. TP set at 0 fib level, but could extend to -0.27 fib level. SL set below 61.8% level, and the 1.1 level, which was a previous resistance turned support (and bank level).

MatthewLundgren

If this 4H candle closes bearish/shows rejection, then seeing a short opportunity. Wick rejection of a resistance area, and rejecting the 61.8% daily fib level. Bullish TL below, so setting TP well above that. Good RR.

MatthewLundgren

If this 4H candle closes bearish/shows rejection, I'm seeing a short. Rejecting the 78.6% fib level, the bank level @ 81.500, and a possible broken bullish TL (retesting). Also seems to be in a descending triangle pattern. There is a multiple bottom to watch out for, so setting TP above that.