This is a zoomed in view of my weekly idea that can be viewed here
I am expecting a reaction from the M15 demand zone created last Thursday at 1.09397 early in the week that should give us a little upside looking for an area with enough liquidity to fuel a push down. I have a couple of M15 supply zones at 1.09999 and 1.10650 that I will be looking for confirmation short entries at. If they fail then I will be looking for a sweep of the external liquidity at 1.10650 and if we're still pushing up then an M15 CHoCH in the H4 supply zone above will be my point of interest where I will look for shorts.
If we close an H4 candle above that H4 supply zone then I will shift my focus to longs to take the H4 high at 1.12772 though at this stage I think that is unlikely
I am expecting a reaction from the M15 demand zone created last Thursday at 1.09397 early in the week that should give us a little upside looking for an area with enough liquidity to fuel a push down. I have a couple of M15 supply zones at 1.09999 and 1.10650 that I will be looking for confirmation short entries at. If they fail then I will be looking for a sweep of the external liquidity at 1.10650 and if we're still pushing up then an M15 CHoCH in the H4 supply zone above will be my point of interest where I will look for shorts.
If we close an H4 candle above that H4 supply zone then I will shift my focus to longs to take the H4 high at 1.12772 though at this stage I think that is unlikely
Trade active
Break even on this CT trade Note
Now looking for a scale in before the M15 SMT Trade active
Half risk scale in position executed Note
SL on the scale inNote
Another half risk scale in Note
Starting to move. BE will be at the M1 high (Blue Dot). 1.5% running with 0.5% still at riskNote
Note
Scale in is at BE early. No risk on this positionNote
I am half expecting an M5 pullback which would liquidate my M1 scale inNote
Illustration - Note
Scale in closed at BENote
If the M1 closes below the CHoCH then I will hedge down to the M5 extreme Note
That premature BE took me out of a good trade but risk management > profitNote
I have to step out of the office so I have hedged the long until the M5 demand where I have placed a risk entry. Don't copy my trades unless you are comfortable with losses. Losses are part of a winning game Note
Trade resulted in a loss Note
So news on the Japanese Yen pushed EU through the H1 and M15 low earlier than I expected. I will go over price action and develop a plan going forward
Vagrant market bully.
No course and no challenge passing, please don't ask. Luck is what happens when preparation meets opportunity.
No course and no challenge passing, please don't ask. Luck is what happens when preparation meets opportunity.
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.
Vagrant market bully.
No course and no challenge passing, please don't ask. Luck is what happens when preparation meets opportunity.
No course and no challenge passing, please don't ask. Luck is what happens when preparation meets opportunity.
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.