24-01-24 AUDUSD Long Entry Signal on 4H Chart

24-01-24
AUDUSD Long Entry on 4H Chart

Entry Price: 0.65700
Stop Loss Price : 0.65300 / 40 Pips
Take Profit: 0.66300 / 60 Pips
Risk To Reward : 1 for 1.5
Trade Grade: b +

CONS:
- Momentum more bearish + upside down v-shape (price usually likes to continued in the 2nd leg) of the V)

PROS:
- The price levels have made a solid support zone
- Could be lots of Buy Side Liquidity in the stop loss area
- For every Buy order there needs to be a sell order
A. this is critical for the trade due to the potential shift in the market to bullish

B. The lows have a higher probability to hold due to large Central Banks, Hedge Funds , ETC wanting to hold the lows. So they can buy against the trend to fluid enough liquidity

C. They might Induce market participates into selling in order to produce enough liquidity to cause a bullish leg of momentum to the upside.

D. I accept the risk and I will place a pending order.

Main Goal:
-Increase Win Rate this Quarter. Currently at 44%-

I have Placed a pending order. If anyone needs ideas with trade management please leave a comment.