Explanation with the chart - looking at market structure (HHs and HLs) with clean price action - anticipating bullish momentum for pre-London session. Risking 1.5%.
Clean short setup in London yesterday taken. Simple price action trading and resistance!
Left money on the table - price rejected BE zone and SL triggered at BE.
Loss this morning - been a tough month and week.
Explanation within the post: 1.LLs and LHs 2.RT towards broken support level 3.EMA acting as added dynamic resistance and added confluence 4.Clean traffic to the left 5.Bearish pinbar which entered on close 5.2RR - will monitor P.A
Looking at market structure, P.A with bearish pinbar and healthy RR. Monitor how the trade plays out!!
Explanation within the chart image - took a L.
1.HH and HL 2.Price RT the broken R zone and formed a bullish engulfing candle (filled with momentum) 3.EMA holding as dynamic added support 4.Clean market structure and price action 5.RR2 Monitor P.A accordingly. Trade safe everyone !
Description is within the idea - been a slow 2 weeks.
Price created HHs - looked for 2nd HL for continuation upwards, price triggered SL immediately so was a L. Monitor P.A - executed plan and risk management.
Explanation within the chart: Following price action, market structure & trend.
EURUSD LONG: H was created Looking for 1st HL - bullish pinbar on 15m TF Looking for continuation upward with HHs and HLs I see similar setup on 30m TF (monitor PA)
Description is within the chart - looking for downward momentum to occur after 1st LH is printed and 30m bearish engulfing candle - if 1813 level is broken - clean traffic to the left to around 1800.
Good looking play: -price created a H -looked for support to form & price created a bullish hammer/pinbar -added dynamic support by ema -clean M.S and P.A with traffic -2.5RR ENTRY WAS OFF BY 4 PIPS....
Explanations within the setup as too why I took the trade and where my SL was triggered - took a 1.5% L but we move.
Great Play !!! Description in the screenshot of todays short on GBPUSD. 2RR - lowered my risk due to P.A but nevertheless, stayed inline with downward momentum !
A+ SETUP Reasoning within Photo - 1st MFF trade for Phase 1.
Great setup pre NY session ! HHs and HLs - B and RT with ema acting as dynamic support - healthy RR