As explained within the picture you can see the reasons behind taking this trade.
We have 6 wick rejections of price trying to push though but failing. Their is plenty of money at the 4h support level which the banks want. This is why we will be trading down to this level.
Remember... ALWAYS trade towards to the money.
Most people (Retail) always trade away from their money, that's why over 95% of traders loose money and are not able to be profitable.
This trade is:
Stop Loss = 15 pips
Take Profit = 75 pips
Risk Reward = 5.00
We have 6 wick rejections of price trying to push though but failing. Their is plenty of money at the 4h support level which the banks want. This is why we will be trading down to this level.
Remember... ALWAYS trade towards to the money.
Most people (Retail) always trade away from their money, that's why over 95% of traders loose money and are not able to be profitable.
This trade is:
Stop Loss = 15 pips
Take Profit = 75 pips
Risk Reward = 5.00