Top Down approach:
Identified the weekly key levels @ 1.32289 resistance and @1.27508 support
Identified the daily key level @ 1.29326
Idenfitied current up-trend structure, today's 1D&4H shows rejection of the upside weekly zone
Trade entered Wednesday 2:PM @ 1.29250 (Reason: Daily wick showed hard upwards rejection)
0.02 - SL: 1.29646 - Above 4 hour key level TP: 1.28462 PIPS: 40 -- TP HIT!
0.02 - SL: 1.29646 - Above 4 hour key level TP: 1.27526 PIPS: 140
Position 1 hit TP @ 1.28462 = 40 Pips
Position 2 trailed SL in profit and hit @ 1.28835 = 44 Pips
Overall target - weekly key level @ 1.27508
Identified the weekly key levels @ 1.32289 resistance and @1.27508 support
Identified the daily key level @ 1.29326
Idenfitied current up-trend structure, today's 1D&4H shows rejection of the upside weekly zone
Trade entered Wednesday 2:PM @ 1.29250 (Reason: Daily wick showed hard upwards rejection)
0.02 - SL: 1.29646 - Above 4 hour key level TP: 1.28462 PIPS: 40 -- TP HIT!
0.02 - SL: 1.29646 - Above 4 hour key level TP: 1.27526 PIPS: 140
Position 1 hit TP @ 1.28462 = 40 Pips
Position 2 trailed SL in profit and hit @ 1.28835 = 44 Pips
Overall target - weekly key level @ 1.27508
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.
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.