EURUSD Short Trade 24-01-29: Trade Signal
EURUSD Short Trade
24-01-29
*Trade Price Levels*
1. Risk Entry (Pending Order)
Pending Order Price : 1.08700
Stop Loss Price : 1.09100
Take Profit : 1.08100
Risk to Reward Potential
-1 units of risk for 1.5 units of gain
-Note: Needs a win rate or 41% or above to be a profitable trader
-Will Track Feb Signal Win Rate
A. Will track risk entry win rate and confirmation entry model win rate
B. Based on data that will determine risk profile for Prop Firm Funding (More Aggressive Risk Profile)
Cons For Trade
A. Price is in the discount of the swing range
(should sell from premium and long from discount)
B. Price could use the demand zone from the daily to drive (hawkish) Price through zone above making higher highs and lower lows
C. Price broke key price level of 1.0800 (more neutral)
Pros
A. Double zone supply zone coverage with stop loss being big enough to let the trade breathe a bit
B. The first Mitigation of a zone often fails leading to price moving up and then going deeping (bearish) towards the strong swing structure below
C. The overall trend is more bearish than bullish
Fundamental Drivers
A. Price Broke 7 week low of 1.0800
B. Central Bank rates remained unchanged
C. President Lagarde is more dovish than hawkish
24-01-29
*Trade Price Levels*
1. Risk Entry (Pending Order)
Pending Order Price : 1.08700
Stop Loss Price : 1.09100
Take Profit : 1.08100
Risk to Reward Potential
-1 units of risk for 1.5 units of gain
-Note: Needs a win rate or 41% or above to be a profitable trader
-Will Track Feb Signal Win Rate
A. Will track risk entry win rate and confirmation entry model win rate
B. Based on data that will determine risk profile for Prop Firm Funding (More Aggressive Risk Profile)
Cons For Trade
A. Price is in the discount of the swing range
(should sell from premium and long from discount)
B. Price could use the demand zone from the daily to drive (hawkish) Price through zone above making higher highs and lower lows
C. Price broke key price level of 1.0800 (more neutral)
Pros
A. Double zone supply zone coverage with stop loss being big enough to let the trade breathe a bit
B. The first Mitigation of a zone often fails leading to price moving up and then going deeping (bearish) towards the strong swing structure below
C. The overall trend is more bearish than bullish
Fundamental Drivers
A. Price Broke 7 week low of 1.0800
B. Central Bank rates remained unchanged
C. President Lagarde is more dovish than hawkish
עסקה פעילה:
-I am tagged into the trade above and at the same price levels
- I am waiting to reduce risk with market structure or the take profit to hit
- I am waiting to reduce risk with market structure or the take profit to hit
עסקה סגורה: היעד הושג:
Take Profit at 1.5 hit and onto the next trade