GER40 Trade Log

Updated
Trade Setup (30/10/2024) - GER40 Long on Daily / 4H FVG

1. Setup: Entering a long position within the Fair Value Gap (FVG) on the daily and 4-hour timeframes, as this zone serves as a key demand area.

2. Entry strategy:
- Target: 1:2 RRR.
- Risk: 1% of account.
- Confirmation: Look for signs of bullish support or reversal patterns within the FVG zone, such as a bullish engulfing candle or strong rejection wick on the 4H or daily chart.

3. Stop-loss and take-profit:
- Place stop-loss just below the FVG to manage downside risk.
- Take-profit set at twice the stop-loss distance, aligned with nearby resistance or supply levels for a 1:2 RRR.

4. Additional considerations:
- Monitor macroeconomic news and European market sentiment that could impact GER40.
- Wait for solid bullish signs within the FVG to ensure higher probability for upside momentum.

This setup leverages the multi-timeframe FVG as a demand zone, aiming for a high-probability long entry if price shows support within this area.
Trade closed: stop reached
-1%
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