Happy new year pip hunters.
Welcome back to Pinchpips Swing zone and level, SZL.
We start off the new year with SZ has indicated around 933-990, and Levels as marked.
Price action determines trades, so either of a or b could playout.
Entry is based on the 5 min candlesticks pattern with SL @ 10-15 pips from entry.
TP is as price action and momentum determines. However SL is usually moved to Breakeven, BE once entry pinches +20pips.
Welcome back to Pinchpips Swing zone and level, SZL.
We start off the new year with SZ has indicated around 933-990, and Levels as marked.
Price action determines trades, so either of a or b could playout.
Entry is based on the 5 min candlesticks pattern with SL @ 10-15 pips from entry.
TP is as price action and momentum determines. However SL is usually moved to Breakeven, BE once entry pinches +20pips.
Note
Price failed to bounce off lower level (red box).Entry @ 332
SL -15pips
dTP @ Redbox, depending on price action and momentum
Trade closed: stop reached
Entry @332 closed -15pipsSell reentry @342 pinching +50pips
Note
Entry @342 closed for +20pipsSell reentry @496
SL -10pips
dTP 23968
Note
3 trades: -15/+20/-10 = -15pipsSell reentry @700
SL -10pips
Note
Price pinching +70pips.Move SL to +15pips
Note
Price pinching +100pips.MOve Sl to +40pips
Note
Price pinching +120pips.MOve Sl to +60pips
Will be looking for a bounce @ 23968
Note
Excellent momentum pushing price past 23968Trade entry 5700 closed for 240pips
4 trades: -15/+20/-10/+240 = +225pips
Note
Great Start to the trading year pinching 225pips in 4 trades.Have a restful weekend
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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.