This is an example of a round number 1.2950 used as a "price magnet".
Consolidation pattern broke out and I took full advantage of the momentum.
To protect my risk I used only the 4H and D chart for my analysis. I also moved my stop loss to breakeven.
Markets have been very choppy so Id rather protect my capital and risk nothing once the momentum is true. Making this quick scalp is a good strategy in this environment.
The market has changed. As traders we need to adapt to changing environments.
The yellow line is where I sold and the green line is where I closed out my position.
Stay humble and never stop learning!
Consolidation pattern broke out and I took full advantage of the momentum.
To protect my risk I used only the 4H and D chart for my analysis. I also moved my stop loss to breakeven.
Markets have been very choppy so Id rather protect my capital and risk nothing once the momentum is true. Making this quick scalp is a good strategy in this environment.
The market has changed. As traders we need to adapt to changing environments.
The yellow line is where I sold and the green line is where I closed out my position.
Stay humble and never stop learning!