NZDUSD Bullish Gartley x Institutional Levels (5 to 1 R/R)
This trade idea is a composite of three methodologies. Fibonacci Harmonic price patterns, Institutional Order Flow and Algorithmic trading levels.
1. 4HR Order Block which i learnt from my mentor "ICT". You can expect central banks to place buy orders in this level i have marked in purple. Check out his series on youtube which explains ideas like this (link below)
2. 50% and 60.18% Retracements or Fibonacci Stalking, is something my mentor Giuseppe (The Fibstalker) has discovered. Algorithmic trading, especially High Frequency Trading respect and protect these levels. In action, with this current trade, i would expect a dip below the 50% but not below the 61.8% as it will be protected. You can see on the daily that these levels have been defended twice. Though it seems simple on the surface, his trading method has incredible depth and is the most reliable tool in my trading toolbox.
3. Same as above.
4. Harmonic Fibonacci patterns, especially when used with an Oversold RSI for confirmation (Which we have) are a staple in my trading. I learnt everything about these from Scott Carneys 3 books. Though RSI is already oversold, we could see a small retracement higher and then lower into the PRZ which would also give us an RSI divergence. I would almost expect that.
5. Weekly timeframe is also bullish, as i like to trade in direction of the higher timeframe trend.
This will be a long term trade. I will close one of these positions at point C and trail the other position.
Very rarely do all my trading methodologies from my mentors line up directly, so i thought it would be appropriate to post this setup as it is (in my opinion) a very high probability one. Risk to Reward ratio for taking profit at point C is about 5 to 1.
Both my main mentors post regular youtube commentary videos, post to twitter and hold FREE webinars. Follow them and your trading will be transformed as mine has.
ICT's Youtube Series:
youtube.com/watch?v=A0VgxFD2Brs
twitter.com/ICT_MHuddleston
Giuseppe Basile's "Fibstalking technique":
twitter.com/fibstalker
facebook.com/pages/Fibonacci-Stalking/463250390382505
Fibonnaci Harmonics by Scott Carney, the originator of Harmonic trading. (There is a free book which has the majority of what you need)
harmonictrader.com/
1. 4HR Order Block which i learnt from my mentor "ICT". You can expect central banks to place buy orders in this level i have marked in purple. Check out his series on youtube which explains ideas like this (link below)
2. 50% and 60.18% Retracements or Fibonacci Stalking, is something my mentor Giuseppe (The Fibstalker) has discovered. Algorithmic trading, especially High Frequency Trading respect and protect these levels. In action, with this current trade, i would expect a dip below the 50% but not below the 61.8% as it will be protected. You can see on the daily that these levels have been defended twice. Though it seems simple on the surface, his trading method has incredible depth and is the most reliable tool in my trading toolbox.
3. Same as above.
4. Harmonic Fibonacci patterns, especially when used with an Oversold RSI for confirmation (Which we have) are a staple in my trading. I learnt everything about these from Scott Carneys 3 books. Though RSI is already oversold, we could see a small retracement higher and then lower into the PRZ which would also give us an RSI divergence. I would almost expect that.
5. Weekly timeframe is also bullish, as i like to trade in direction of the higher timeframe trend.
This will be a long term trade. I will close one of these positions at point C and trail the other position.
Very rarely do all my trading methodologies from my mentors line up directly, so i thought it would be appropriate to post this setup as it is (in my opinion) a very high probability one. Risk to Reward ratio for taking profit at point C is about 5 to 1.
Both my main mentors post regular youtube commentary videos, post to twitter and hold FREE webinars. Follow them and your trading will be transformed as mine has.
ICT's Youtube Series:
youtube.com/watch?v=A0VgxFD2Brs
twitter.com/ICT_MHuddleston
Giuseppe Basile's "Fibstalking technique":
twitter.com/fibstalker
facebook.com/pages/Fibonacci-Stalking/463250390382505
Fibonnaci Harmonics by Scott Carney, the originator of Harmonic trading. (There is a free book which has the majority of what you need)
harmonictrader.com/
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