I have marked out a potential 1:86R trade here.
The price is not allowed to reach the buy zone before or after the purple timing window. It must reach it within this window for the trade setup to stand a good chance.
The take profit target is 0.37429 but you can leave the trade running for the all time highs, I just think that is the start of the first potential resistance zone and I would rather take profits there and then find a new trade setup.
Probability of success: 30%
Risk to reward rating 10/10 (+4)
Overall trade rating 8.5/10
Why is the probability of success only 30%?
Because it is a weekend and come Monday we might see a quick flush lower to take out all the buyers on the weekend.
However the new week opening gap doesn’t necessarily have to be 100% filled and therefore there is still a good chance that if this trade is running in profit come Monday the weekend low will hold.
The price is not allowed to reach the buy zone before or after the purple timing window. It must reach it within this window for the trade setup to stand a good chance.
The take profit target is 0.37429 but you can leave the trade running for the all time highs, I just think that is the start of the first potential resistance zone and I would rather take profits there and then find a new trade setup.
Probability of success: 30%
Risk to reward rating 10/10 (+4)
Overall trade rating 8.5/10
Why is the probability of success only 30%?
Because it is a weekend and come Monday we might see a quick flush lower to take out all the buyers on the weekend.
However the new week opening gap doesn’t necessarily have to be 100% filled and therefore there is still a good chance that if this trade is running in profit come Monday the weekend low will hold.
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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.