Bias: Long
Placed my first trade for review...?
On December 27th at 18:00, I observed that we were at the end of a downtrend and in transition to the upside. According to the Wyckoff method, this would be Phase A and B (Multiple secondary tests) playing out.
The observation indicates a mechanical breakdown rather than a spring reaction in this instance.
Stop Loss:
Price: 1.31717 (47.5PIPS) = 0.36%
Set below the lowest candle wick and optimised trading zone (OTZ) for confluence.
Entry Price: 1.32192
BOS (Break of Structure) Noticed end of downtrend/mechanical failure and transition to the upside (Wykoff sentiment)
Target: 1.38594
Top of the range (November 1st, 2023)
RR 13.75%
Current position..
11th april 24
Level 1.37280
Observed 15.00pm
London/New York Session
Trade duration approx (3 months)
Trade active
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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.