Price Trap on EURGBP 1HR tfI found the support & resistance of current price. Once price breaks & closes above the buy alert, or below for the sell, we can execute a buy or sell position in the close and again on the retest of structure. I found the targets by looking at previous price and finding highs and lows of the market. Feel free to hit my dms with questions regarding this analysis.
Pricetrap
Price Trap on CHFJPY 1HR TFI found the support and resistance of current price, and marked it off with a horizontal line now trapping the market within the found support and resistance. Once price breaks out of the support it will indicate the sell and if price breaks out of the resistance it will indicate the buy. When a 1hr candle closes above the buy alert price, we can execute a buy position on the close of the candle and on the retest of the buy alert. Vice versa for the sell
EUR/USD Trade Ideal 11/9/2020-Trading Rules
30 Take Profits
30 Pip SL
Move stop lose into profit after 8-10 pips in profit
-Twin Trading
2 trades in the same direction
1 trades has a SL and TP
1 trade has just a SL and you trail it
-Lots
example for .10
.05 and 0.05
Proper Risk
0.01 per $100
or
Follow YOUR trading plan
Price Trap IDEA (1)PRICE TRAP
*CYPHER Harmonics pattern formed for a POTENTIAL BUY*
1)Wait for a BREAK in the RESISTANCE area
2)Wait for a BREAK in the SUPPORT area
ONCE a zone as been broken, WAIT for the retest
Once price confirms as NEW SUPPORT or RESISTANCE its safe to ENTER
*use risk management*