I don't usually trade Mondays as I find it too tricky but here is a set up I will be looking at.
The 9 and 18 EMA all confirm short positions only.
It is ISM at 15:00 GMT so if the trade is too close I won't take it, it would be much better (for me) to see it run into my entry from a distance before I short. What distance is I am not sure, maybe 40 pips, don't know.
Anyway:
There is an ICT hourly order block that is overlaid by the 70.8% OTE retracement. This coincides with 17/11 weekly open price and the swing low of 26/11 which occurred after London open and prior to a run up.... an area of interest.
With a 25 pip stop, an entry around 1.5683 (at LO or NYO or ISM run) will see my stop above 1.5700, above the ICT order block, above the ADR and above the 1st std CBDR. If that gets hit I was definitely wrong :)
I would be targeting 1.5600 and moving to breakeven if 30 pips profit hit.
The 9 and 18 EMA all confirm short positions only.
It is ISM at 15:00 GMT so if the trade is too close I won't take it, it would be much better (for me) to see it run into my entry from a distance before I short. What distance is I am not sure, maybe 40 pips, don't know.
Anyway:
There is an ICT hourly order block that is overlaid by the 70.8% OTE retracement. This coincides with 17/11 weekly open price and the swing low of 26/11 which occurred after London open and prior to a run up.... an area of interest.
With a 25 pip stop, an entry around 1.5683 (at LO or NYO or ISM run) will see my stop above 1.5700, above the ICT order block, above the ADR and above the 1st std CBDR. If that gets hit I was definitely wrong :)
I would be targeting 1.5600 and moving to breakeven if 30 pips profit hit.