Pay attention to the updates section as I will be posting when I will be entering my trade.
The analysis is made based on order flow using volume profile + EW
Expecting a bounce off of the Fibonacci zone
For risk and money management purposes, always determine a max. of 2% risk on every trade.
For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss.
Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market.
This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.
The analysis is made based on order flow using volume profile + EW
Expecting a bounce off of the Fibonacci zone
For risk and money management purposes, always determine a max. of 2% risk on every trade.
For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss.
Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market.
This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.
Note
My entry criteria will be a 15m bull candle forming in the PRZ regionNote
moving closer and closer towards the PRZNote
Buy stop set at 1.1620Note
Trade active
Note
Stop loss set at 1.1608 (12 pips risk)Note
Stop loss moved to 1.1613 cutting down my risk to 7 pipsNote
stop loss moved to 1.1616 cutting down my risk to 4 pips nowTrade closed manually
trade closed manually with 6 pips profit - it was moving real slow, rsi is oversold and we get a bear trend candle - more than enough of a reason to get outNote
top level was reached but oh well already closed the tradeNote
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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.
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.