Funded account challenge - Trade 1
Waiting for price to come into 1 of 3 levels between 1.085-6 and show reaction, then going long.
Looking at previous activity in the current area, it looks as though short term we may be in for more of a push down, but long term, we have what appears as solid support in the areas of the 3 red lines. I would bet the biggest players are waiting at the lowest levels, while a majority of others will be around the 1.086. We also have a huge push up from this level last time, and a very slow retreat says most are hanging on for a push higher.
Looking to target half the position at 1.103 ish, and let the rest trail and possibly target the last highs around 1.124, where the last push ended.
Mostly looking at a Supply/Demand style approach for the entry and trade plan, but mostly applying what has worked before in previous trades.
Long tool is used to show where I am looking to enter, entry may be lower or higher, but wanting some confirmation before taking the plunge....
Looking at previous activity in the current area, it looks as though short term we may be in for more of a push down, but long term, we have what appears as solid support in the areas of the 3 red lines. I would bet the biggest players are waiting at the lowest levels, while a majority of others will be around the 1.086. We also have a huge push up from this level last time, and a very slow retreat says most are hanging on for a push higher.
Looking to target half the position at 1.103 ish, and let the rest trail and possibly target the last highs around 1.124, where the last push ended.
Mostly looking at a Supply/Demand style approach for the entry and trade plan, but mostly applying what has worked before in previous trades.
Long tool is used to show where I am looking to enter, entry may be lower or higher, but wanting some confirmation before taking the plunge....
Comment:
Gap up is a good entry, small stop....
Comment:
Sorry, got pulled another way and started scalping, so I'll have to stay that way on that account, will need to do long term for personal 🙊, it's a different game connecting directly to liquidity and zerooooo spread, I couldn't help myself
Comment:
Gap was 1 mins, watching tick volume and extra things, the 1.086 looks solid, as liquidity runs out for sells at the bottom of consolation
Comment:
May not be a bad time for profit taking... Suspect a fall coming soon