My trading idea is based on 1H chart. The 2 defense line is the two most-likely level that buyers come in to reverse the short-term downtrend.
The trading time frame is 5m when we look for reversal pattern, e.g. bullish engulfing, breaking downtrend line, taking out nearest control high.
FOMC will release its statement on 3 am in the morning time. As usual, huge volatility will be expected then. Be careful. Close your position before the announcement to avoid being stopped out.
The trading time frame is 5m when we look for reversal pattern, e.g. bullish engulfing, breaking downtrend line, taking out nearest control high.
FOMC will release its statement on 3 am in the morning time. As usual, huge volatility will be expected then. Be careful. Close your position before the announcement to avoid being stopped out.
Note
The first defense line failed. Now, it seems that price got some buyers attention on the 2nd defense line. Wait until we see something real.
Note
weird. Where is my post on the 1 minute chart? I updated about a couple of min ago to trigger the trade.Note
This is what I previous posted. This is 1 min chart. quite clear
Note
Obviously, by looking backward, I identified two trades. It happened when I was sleeping. So, they're not real trades, however, we can still learn from this. Good setups just repeated themselves again and again.
Trade closed manually
The threshold is ended.
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plan your trade and trade your plan
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.