STACEY BURKE STUDIES: NZD/USD SCALP, LAST HOUR OF EQUITY NY OPEN
This is part of a series of studying Stacey Burke's methodology and putting it into practice as best as I can as I go through the material, learning and paper trading as I go. This is for my own reference really but would be keen to collaborate with others who also follow his methodology.
Anyway, this is NZD/USD ''scalp'' to the downside, trying to apply his methodology.
I think I've got the directional bias right in this regard, but the timings of entry have been a bit tricky. The market structure, given the H4 M formation and prior hourly support, boxing us in, but with a little bit of faith in the methodology, the bias to the downside, the support became less worrisome, and given the peak formation in the equities hour and 38.2% retracement plus a decent portion of the impulse's hourly imbalance being mitigated already, the pull back into the hourly structure was the trigger for me and the set up to target the middle of the week's range, daily lows, and prior day's low.
Anyway, this is NZD/USD ''scalp'' to the downside, trying to apply his methodology.
I think I've got the directional bias right in this regard, but the timings of entry have been a bit tricky. The market structure, given the H4 M formation and prior hourly support, boxing us in, but with a little bit of faith in the methodology, the bias to the downside, the support became less worrisome, and given the peak formation in the equities hour and 38.2% retracement plus a decent portion of the impulse's hourly imbalance being mitigated already, the pull back into the hourly structure was the trigger for me and the set up to target the middle of the week's range, daily lows, and prior day's low.
Trade closed: target reached
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Come on over to my YouTube channel and Level Up your trading! 💸💸💸💸💸 @RJBforex, Like and Subscribe!
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.
** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea!
Follow me at FXStreet: fxstreet.com/author/ross-j-burland
Come on over to my YouTube channel and Level Up your trading! 💸💸💸💸💸 @RJBforex, Like and Subscribe!
Follow me at FXStreet: fxstreet.com/author/ross-j-burland
Come on over to my YouTube channel and Level Up your trading! 💸💸💸💸💸 @RJBforex, Like and Subscribe!
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.