Hourly Trendline upwards
Price looking to retrace to trendline?
I will be selling an OTM Nadex contract in the red region for a set pre set TP.
My total risk if both trades get triggered is $15 + $12 = $27
Potential TP is $40.50
I trade on www.nadex.com
Trade setup
-Trendline retest
-Fib Level Support
Trade management
- 2 positions opened
- Stop loss @ 0.7320
- 1st target @ 0.7345
- 2nd Target @ 0.7354
- If 1st target reached SL will go to break even
This trade is linked with the other USDJPY:
I've palced a different buy limit entry with some adjustments to the trade management - Bias / Setup is still the same (LONG) as mentioned in the previous idea.
Trade Management:
- 2 Trade entries (instead of 1) @ 100.18
- Stop Loss is 99.84
- 1st TP is @ 101.065
- 2nd TP is @ 101.405
- SL will go to Break even...
See the above picture for Macro Analysis
Trade Setup:
-Trading to the spike base
-Double bottom pattern
Trade management:
-Will only be entering 1 trade with 1 TP
-Buy Limit placed @ 100.00
-Stop Loss @ 99.56
-Target Profit @ 101.065
A small note: I may be entering this trade a little early (reason for entering early is due to a more favourable R:R)
Once the...
Trade Setup:
-As in the above picture its a congested area and price is failing to make new highs
-Number of patterns are detectable
-On the 15min chart there is a Double Top
-Trendline Break
-Meausured Move
Trade Management
-2 Trades entered @ 0.7275
-Stop Loss for both @ 0.7309
-Target Profit 1 @ 0.72211 Fib level 1.618 of measured move
-Target Proft 2 @...
The Setup
-Resistance at the 0.7287 level from 4hr chart
-trendline break
-Price struggling to make higher highs
Entry @ 0.7281 only if price does not reach 0.7265 before (this is the 1.618 fib level of the measured move, my first TP)
Trade Management
- 2 sell limit entries @ 0.7281
- Stop Loss for both is @ 0.7294
- TP 1 @ 0.7265 Fib Level 1.618 of measured...
Trade Setup:
-Measured move from retest of major support / resistance level
-No particular pattern found
-Trendline break
Note: The ideal point to enter thsi trade would have been the break of the trendline as mentioned on the chart
I have decided to enter on the basis of the long wick candle (with the arrow above it)
Trade Management:
- 2 Limit order placed at...
HEAD & SHOUDLERS PATTERN
- Inner Trendline Break
- Measured Move
Trade management walk through
- 2 trades opened
- 2 different targets ; 1st target 1.618 ; 2nd target 2.0
- same stop loss
- after 1st target hit SL will be moved to breakeven
Let's see how it goes...
Red horizontal line = major support and resistance by looking on right of chart on higher TF / zoomed out chart
Break of upper trendline with fibs used as profit targets in addition to previous support
More than a 3:1 risk / reward ratio
