The 1h is taking out the previous HH.
Price has left a large inefficiency behind.
If price closes above the HH on the 1h I will wait for price to move back down to the 10m entry zone before taking a long trade.
Price has left a large inefficiency behind.
If price closes above the HH on the 1h I will wait for price to move back down to the 10m entry zone before taking a long trade.
Note
The 1h candle has closed above the downtrend LH so now the trend is likely to become an uptrend.This trade is now one I am actively looking to take.
Note
The TP target is now the supply candle on the 4h chart on 16th Oct 6am making this a 9.4:1 trade.Trade active
Price has moved down to the 10m entry zone so the trade is now active.There are two potential TP targets. The first is a new BOS which is a 4.62:1 trade. The second is the 4h candle mentioned above which is a 9.4:1 trade.
Trade closed: target reached
Price has reached the TP target and I have closed my position for a 5:1 RR.With the 2 losses from earlier in the day that's 3% profit for the day.
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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.