Trade of the Week : Rock and maybe Papyer
EurGbp
Date 1/21/24
Is it Rock, Papyer or Scissors??
This week we are watching how the pair plays out. We are waiting for strong confirmations to enter a trade.
We marked up on the 4hr timeframe for a better overall scope of the market. The red trend line signifies a Rock trade. For this setup to follow through the need the market to break on the upside of the trend line for a Buy Order. Then we are looking for a clean break and retest in the same are zone the market crossed the red trend line. This are can be identified as the top of the white consolidation box.
You also see a box that represents consolidation. For consolidation we wait for the market to break either the top the box and then create a break and retest.
But wait ….
Keep and eye on the green earth because it may still respect the earth and not the consolidation box because they are so close together.
Standard Rules:
Risk only 5% of account
Always measure and calculate your Take profit and Stop Loss
TP 1 = 100 pips
TP 2 = 150 pips
TP 3 = 200 pips
Date 1/21/24
Is it Rock, Papyer or Scissors??
This week we are watching how the pair plays out. We are waiting for strong confirmations to enter a trade.
We marked up on the 4hr timeframe for a better overall scope of the market. The red trend line signifies a Rock trade. For this setup to follow through the need the market to break on the upside of the trend line for a Buy Order. Then we are looking for a clean break and retest in the same are zone the market crossed the red trend line. This are can be identified as the top of the white consolidation box.
You also see a box that represents consolidation. For consolidation we wait for the market to break either the top the box and then create a break and retest.
But wait ….
Keep and eye on the green earth because it may still respect the earth and not the consolidation box because they are so close together.
Standard Rules:
Risk only 5% of account
Always measure and calculate your Take profit and Stop Loss
TP 1 = 100 pips
TP 2 = 150 pips
TP 3 = 200 pips
Aviso legal
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