Hope y'all had a good weekend with your profits.
This week we go into a slight variation of our winning strategy and ask the question:
what if Retracement is not fixed at the Fib levels but dynamic?
And so whilst keeping the zone and primary values of 279/721, we mark 2 levels and the predicted price reaction around them.
As Always price action determines trades
This week we go into a slight variation of our winning strategy and ask the question:
what if Retracement is not fixed at the Fib levels but dynamic?
And so whilst keeping the zone and primary values of 279/721, we mark 2 levels and the predicted price reaction around them.
As Always price action determines trades
Trade active
Alright. trading around zone generated 2 trades: Sell entry @601 for a loss of 10pips and buy entry @655 closed at +40pips.Path 'a' should play out from here, waiting on price to confirm by bouncing off 875 level
Trade closed: target reached
Price broke past 875 clean for next bounce at 779Entry @806
sl be
Price currently pinching +20pips
Note
Entry 806 closed +50pipsSell entry @315 for the last leg of path 'a'
Sl -10pips
Note
Price pinching +60pipsSL @+20pips
Note
Entry 315 closed SZ for +60pips4 trades: -10/+40/+50/+60 = +140 pinched pips.
Early close to the week for the 3rd time running.
Have a good week and a restful weekend
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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.
Related publications
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.