Entry on The Lower TimeFrame
Updated
It is true that we do all of our analysis top down, that is to day we start off from the higher timeframe and continue to scale it down to the lower timeframes.
On this pair, we were able to run our analysis all the way down to the 1 hour, where we confirmed the bearishness of the pair.
Having confirmed our directional bias off of the 1 hour, we were able to go catch our trade off of the 5 minutes chart
Although we are trading off the 5 minutes chart, we will still be trading in the direction and bias of the 1 hour. Our target is the 1 hour liquidity below. And this trade setup promises us a 10RRR
On this pair, we were able to run our analysis all the way down to the 1 hour, where we confirmed the bearishness of the pair.
Having confirmed our directional bias off of the 1 hour, we were able to go catch our trade off of the 5 minutes chart
Although we are trading off the 5 minutes chart, we will still be trading in the direction and bias of the 1 hour. Our target is the 1 hour liquidity below. And this trade setup promises us a 10RRR
Note
We we stopped out on our trade guys. But the good news is:
1. We were able to take off a partial of our profit when the price moved significantly in our favour.
2. We also moved Stop Loss to Break Even, that way keeping us safe from a losing position on the trade.
Even though we didn't get to our profit target, it was still a profitable trade guys!
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