Flashcard
EURGBP Short - FlashcardEURGBP Short
Direction: - Showed Bearish Momentum and Bearish Orderflow.
- Price came into H4 Bearish Orderblock and indicated on the M15 that the pair was going to drop in this OB.
Entry: - M (Double Top) Pattern Formation.
- Resistance off 200 EMA shown by the pins from the candles.
- Pins to the high also indicate that the current high of today was going to be held, and not broken.
- Divergence indicated pair was going to drop.
- RSI crossed volatility bands (Shark-fin) indicating pair was going to possibly drop.
- Volatility bands were squeezed and the MBL (Market Base Line) was pointing down. This indicates the pair was going to burst to the downside.
Exit: - 18 pip SL @ just above YH. YH (Yesterday's High) is a possibly resistance point.
- 32 pip TP @ just above YL. YL (Yesterday's Low) is a possibly support point.
NZDUSD Short - FlashcardNZDUSD Short
Direction: - In the last level of a Bullish Cycle, which indicates a reversal is imminent.
- Second leg of source formed on the H1 & H4 indicating a breaker will form and Bearish Orderflow is going to occur soon.
- Daily TDI indicated pair was heavily overbought and was due to start dropping long-term.
Entry: - M (Double Top) Pattern Formation.
- Yesterdays High was never broken and was being respected, indicating a resistance point. Therefore, the market was looking to go down.
- RSI is near the 68, indicating the pair is exhausted and near overbought. This gives an indication the pair will drop.
- Divergence indicates the pair will drop.
- Candle closed below 13 EMA indicating pair will most likely continuously drop. This is my entry.
Exit: - 17 pip SL @ 7 pips above YH (Yesterday's High).
- 45 pip TP @ just above YL (Yesterday's Low), as this can be a support point.
EUR USD - Short FlashcardEUR USD - Short Flashcard
- Double top formation occurred during London session
- First leg with RSI hook into volatility bands and cross signal line
- Second leg formed with divergence
- Market baseline still pointing upwards and no close below 13 ema
- Entry either on first small candle to close below 13 ema (risky entry due to multiple pins below 13 ema) or on shift candle close below 13 ema
- MBL begins to curve down on second entry
- Volatility Bands compressed above 50 indicating a downside breakout
- TP taken at RSI hook into volatility bands @ 32 and cross signal line