Alright, this is a much more calm trade in comparison to the US30 trade. Stop loss would be 30 pips, with 3 different take profits. Risk management is key, 3 different trades should not necessarily be taken but bigger percentage partials should be taken out by TP 1 and TP2. Stops should be rolled to 10 pips if TP 1 gets hit, and to break-even or profit by TP2....
Self-explanatory. Bullish market structure, bullish market flow/price action, risk 500 pips but potentially make 2500. 1:5 risk to reward ratio. Not bad especially for being US30. Of course, take partial profits every take profit and move stop loss as well. Risk management is key, especially when it comes to the market giants.
Welp, here we are again. Back at the 4xmc grind. Lemme tell ya guys, this trade right here will make you a rich man, or woman (I don't judge whatchu wanna be known as). What we have here, is an uptrending channel on the bigger timeframes. It is going to bounce back to the bottom of the trendline where we will look for a potential buy because of a zone of...
EURUSD looks to have broken and retested a channel as well as forming an ABCD pattern. My TP is at 1.4440, because the D wing of the harmonic pattern meets up with an area of resistance. After price reaches 1.4440, I will hold 3 smaller short positions for a 38.2%, 50.0%, and 61.8% fib retracement. This is because of the retracement that occurs as a result of the...
The US30USD is reaching the end of a triangle, just a triangle. It is not certain if it is an ascending or descending triangle, so be very careful on the breakout and the direction it goes to. Wait for a retrace for entry and use proper risk management to be able to have an opportunity to gain many pips or lose little to none.
I also shorted GBPUSD last night which led to decent profit, along with EURUSD (which is still ranging before the move down) although I did not post it. However, I still believe it has potential to tank all the way down to that major support where the take profit is. The reason for this is the same of EURUSD, a huge wick to a resistance and current downtrend. If...
If that huge wick/spike to the downside does not make you believe that EURUSD is about to tank, then look at the overall trend. It is in a downtrend channel and the spike retested a major resistance. One does not need much to see that EURUSD is setting up nicely for a short. The tp will be where the bottom trendline of the channel.
