Keeping it steady and reasonable
Part 5 weekly path is as shown.
Here's a breakdown of trading dynamics:
1. Expecting price to break past green line, level of significance (LOS) for continuation down
2. Price might bounce back for which; will be looking for a continuation from +50/+100 or +150pips to the downside
3. Will be looking for double tops/bottom along the way: Last week saw classic double top formed around level of significance (LOS)
As always price action determines trades
Part 5 weekly path is as shown.
Here's a breakdown of trading dynamics:
1. Expecting price to break past green line, level of significance (LOS) for continuation down
2. Price might bounce back for which; will be looking for a continuation from +50/+100 or +150pips to the downside
3. Will be looking for double tops/bottom along the way: Last week saw classic double top formed around level of significance (LOS)
As always price action determines trades
Trade active
Whew, alot of whipsaw but the path stayed true.Sell Entry off +100 from LOS
Note
Sell Entry pinching +200pipsMove Sl to BE
Note
Price pinching +300pips.Move Sl to BE
Will be looking for a pause on the level below
Trade closed: target reached
Sell Entry @5118 closed for +450 pipsLast trade for the week buy entry 626
SL @ -50pips
Note
Buy entry @626 closed in -50pips2 trades and done for the week: +450/-50
Have great week ahead
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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.