gbpjpy h1 bounce from m15 rsi extracted levels and 4h bat
At this point this is not a trade, it is an expected market movement. This is also my first published idea so I am still working out the proper presentation format.
All trade expectations incorporate multiple time frame analysis. In this case the green lines represent projected levels from m15. 138.7 is the minimum where market conditions will be evaluated for a long position. 137.9 is the ideal price for the same evaluation process.
The red lines are retracement levels from h4 and potential targets for long.
Trade execution will occur IF a specific set of rules are met between the green lines. The lower dashed gray line is the general stop-loss level while the middle dashed gray line will be used for position management.
All trade expectations incorporate multiple time frame analysis. In this case the green lines represent projected levels from m15. 138.7 is the minimum where market conditions will be evaluated for a long position. 137.9 is the ideal price for the same evaluation process.
The red lines are retracement levels from h4 and potential targets for long.
Trade execution will occur IF a specific set of rules are met between the green lines. The lower dashed gray line is the general stop-loss level while the middle dashed gray line will be used for position management.
הפקודה בוטלה
This idea will get scratched as is, given the gap down all the way into the general stop loss level. At this point gbpusd is reacting slightly with a 5m setup. While large time frame bullish harmonic patterns are still in play on h4, d1, I will wait for a valid setup on m15/h1 to update this trade.הערה
So our expected movement was somewhat confirmed by the market. However, we are traders, we do not care about being right about the market; we care about profits. Anything I post now about this trade is pointless now because it is in the past. The long setup on m15 did form but at 2 a.m. our local time so we missed it. Based on each trader's rules, one could use a breakout approach on this long. The way we trade, we focus extensively on generating a minimum of 3-1 reward to risk so breakouts are a last resort to catch some of the movement.The next expected market movement is down with a reaction here and an ideal setup at the red lines. Will update the short as a new idea.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.