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Post Trade breakdown on GBP/USDWhat's going on traders, Here I'm going to give a quick overview of the long term trade I took on GBP/USD. Here we're looking at GBP/USD on the 4H time frame. As you can see we have a falling wedge forming on the 4 Hour time frame on the pair. I was watching closely what price was doing. Price was begging to respect well-known zones that I had marked up from past trades. I have circles my 3 touches I found to confirm my falling zone. Once we had a breakout to the upside of this falling wedge I knew I was going to begin to look for a clean entry. Price shot up and bounced back down to a previous zone I had marked up. This was a perfect entry spot for a long position on the trade. Once I saw this form and had candles closing above I made my Entry on the trade. Now as far as TP levels go. I found 3 different TP levels within this trade all based on all the zones I had marked up. I placed my entries and rode the trade to my First TP that hit at 100+ pips, My second position on the trade went to 230+ pips and finally the third position went for 300+ pips. Overall this was a long term trade that did take some time but it did play out nicely. Have any questions or comments on this trade? Comment below or message in the group messages! Take care traders, Read the full post here officialmarketiq.com
by loganMullinix
EUR/USD Post Trade Breakdown Hello Traders, Here I've got a Post Trade Analysis and breakdown on a trade I took for EUR/USD. Remember, this is a post-trade. Meaning this trade for me has ended so please do not take this trade as it is not current and I have closed my positions. This is just for educational purposes showing you what I did with this trade and what I saw. To start off I was Looking at EUR/USD on the 4H & 1H. I found a Rising wedge formation indicating I could see a short on the pair. I put this pair on my watch list and was waiting for the breakout. As we know a rising wedge in a downtrend does suggest a continuation in the previous trend. I saw a decent Zone at the top of the wedge around the area of 1.09916. After seeing a clean rejection of this zone price was sent back to the downside and this is where we found our break of the wedge. As you can also see I found a trend line. It was a weaker trend line but it still played a role in my initial analysis helping me see a possible rejection. Below I have an image on the 4H what I was seeing and then I have a further breakdown of the trade on the 30 minutes showing my entry points. Here I have a screenshot showing the 30 Minute time frame on my trade on EUR/USD. I knew I was looking for a trade and movement to the downside. My next step was finding entry points to enter this trade. As we know when looking at patterns we have to look for the breakouts of the pattern. We found our breakouts clearly on the 30 minute and 15-minute time frame. When I find trades on the 4H & 1H I find my entry points typically cleanly on the 30 Minute and 15 Minute time frames. Here I found my breakout of the pattern with two entry points. As you can see I have two zones marked up with Green. For my first entry on the trade, I found some Pin Bar candlesticks around my first green zone of 1.09370. As we also know when we see a pin bar at a resistance level it suggested to me a move to the downside. So this was my first entry on the trade. Now I quickly saw possible levels of support and resistance where we could see price slow down. (MY Second Green zone). My second entry point on this trade was at my green zone around the 1.09161 level. I once again saw a pin bar formation here at the resistance level showing a move down was in order. I made an additional trade entry at this point. Overall I caught 70 + Pips from my first entry and roughly 50+ from my second entry. Like I said this trade is now over and complete. If you have any questions on this trade breakdown and post-trade analysis please comment below or ask in the telegram!
Education
by loganMullinix