First of all, look for DXY that's our anchor!
There are two possible scenarios in my trade plan:
1. Price quickly retest the flip zone marked in yellow colour, we look for short opportunities on smaller TFs, e.g. 1H or 30m. The trade idea is mainly based on momentum and trend.
2. Price violated the flip zone, then we look for short opportunities on the top of the range. The trade idea is based on range structure.
Plan your trade and trade your plan. Watch how price react to key zones, otherwise, just ignore it unless new zones formed.
There are two possible scenarios in my trade plan:
1. Price quickly retest the flip zone marked in yellow colour, we look for short opportunities on smaller TFs, e.g. 1H or 30m. The trade idea is mainly based on momentum and trend.
2. Price violated the flip zone, then we look for short opportunities on the top of the range. The trade idea is based on range structure.
Plan your trade and trade your plan. Watch how price react to key zones, otherwise, just ignore it unless new zones formed.
Note
Price approached the 'pullback short' area with a staircase style which I don't like. It met with a little resistance before taking out the zone. Now price has formed a new zone for short setup as marked in the chart
Trade active
Note
Now 1:2 has been hit. this is a 15m TF, target 1 should be at the nearest control lowTrade active
My range trade setup has been triggered. Already got 1:1
Trade closed: target reached
It's a 1:3 trade. My range setup works very nice.
plan your trade and trade your plan
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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.
plan your trade and trade your plan
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.