Trade of the Week: Lower Lows and Scissors
Date mark up: October 15, 2023
GBPUSD
This week we introduced a new strategy were we classify lower lows in a trend. These are yellow horizontal rays places at each point where the market made a NEW lower low. Meaning it went lower than the previous low; Imagine walking down a staircase, the market is moving the same downwards motion.
We placed an alert at 1.21622 and at 1.22349. These coordinates are our entry point for a SELL position. Both positions are outlined using the path tool and remember to wait for a break and restest. Make sure you understand the sell position can be triggered at 2 points; 1.21622 and at 1.22349. These 2 coordinates are also the 50% of the fib ( Scissors trade) making is another confirmation for a sell position.
Advanced position: Get in and Out
Our 1.21622 alert was activated for a small buy position because it cleared for a break and restest and is currently in profit.
Standard Rules:
*Position Type: Limit orders and Market Execution orders ONLY
* Only risk 5% of your account
TP1 100 pips
Tp2 150 pips
Tp3 200 Pips
GBPUSD This week we introduced a new strategy were we classify lower lows in a trend. These are yellow horizontal rays places at each point where the market made a NEW lower low. Meaning it went lower than the previous low; Imagine walking down a staircase, the market is moving the same downwards motion.
We placed an alert at 1.21622 and at 1.22349. These coordinates are our entry point for a SELL position. Both positions are outlined using the path tool and remember to wait for a break and restest. Make sure you understand the sell position can be triggered at 2 points; 1.21622 and at 1.22349. These 2 coordinates are also the 50% of the fib ( Scissors trade) making is another confirmation for a sell position.
Advanced position: Get in and Out
Our 1.21622 alert was activated for a small buy position because it cleared for a break and restest and is currently in profit.
Standard Rules:
*Position Type: Limit orders and Market Execution orders ONLY
* Only risk 5% of your account
TP1 100 pips
Tp2 150 pips
Tp3 200 Pips
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.