1) Bullish impulsive move on a higher time frame followed by a correction move on a higher time frame
2) Double bottom at the end of the bullish correction phase
3) Broken structure with New Higher High
4) Price created new impulse with correction possibly coming off from 61.8% level
5) Price had come back to touch the higher time frame correction trendline
A) Entry after 1hr candle breaks the LTF correction zone
B) SL = -40 pips
2) Double bottom at the end of the bullish correction phase
3) Broken structure with New Higher High
4) Price created new impulse with correction possibly coming off from 61.8% level
5) Price had come back to touch the higher time frame correction trendline
A) Entry after 1hr candle breaks the LTF correction zone
B) SL = -40 pips
Trade closed manually:
After the first correction phase price came Back down to hit my SL which was just above 1% level. Missed out on TP by less than 10 pips