Simple break and retest - immaculate execution.
A key lesson to learn in trading is that opportunities don't appear very often. I'm talking about those sure-fire opportunities that you are 100% confident of taking without "ermmm'ing" and "arrr'ing". This was a move 2 days in the making. Just waiting patiently for that right moment to execute a flawless trade.
Here is an example of a textbook break and retest trade. GU had been previously using the 'Key Level' I had marked, as a major resistance level. Yesterday, this level was finally broken. Unlike the fakeout which occurred 2 weeks ago, this breakout was CLEAN and market structure then followed by beginning to respect the key level on multiple occasions now as SUPPORT. Seeing this momentum shift, it was a trade that was too good to miss. Very little risk, high reward.
As you can see, as of 18th Nov 2020, TP has now been hit, 0% drawdown once again (although SL was at 15 pips). Well done to those who spotted this and executed it correctly. 21% gain was made on this trade.
Here is an example of a textbook break and retest trade. GU had been previously using the 'Key Level' I had marked, as a major resistance level. Yesterday, this level was finally broken. Unlike the fakeout which occurred 2 weeks ago, this breakout was CLEAN and market structure then followed by beginning to respect the key level on multiple occasions now as SUPPORT. Seeing this momentum shift, it was a trade that was too good to miss. Very little risk, high reward.
As you can see, as of 18th Nov 2020, TP has now been hit, 0% drawdown once again (although SL was at 15 pips). Well done to those who spotted this and executed it correctly. 21% gain was made on this trade.