demand for EU50EUR has been on a sustained up trend for several weeks now, and discounts has been offered miserly based on the 10EMA as seen on previous Black Friday Sales.
I have placed an Buy Limit near the 10EMA discounted zone, expecting the order to get triggered.
Since this trade is being read on the Daily Time Frame, the amount of time it would take for the trade to materialise would also be based on the Daily Time Frame. However, the SL is placed based on the 4H TF's levels because regardless of how much the Daily Time Frame moves, it is always based on a day to day basis movement. And placing stop loss on the 4H TF allows more details.
1746SGT
25032024
I have placed an Buy Limit near the 10EMA discounted zone, expecting the order to get triggered.
Since this trade is being read on the Daily Time Frame, the amount of time it would take for the trade to materialise would also be based on the Daily Time Frame. However, the SL is placed based on the 4H TF's levels because regardless of how much the Daily Time Frame moves, it is always based on a day to day basis movement. And placing stop loss on the 4H TF allows more details.
1746SGT
25032024