With the continuation of the downward trend, looking at some good areas to go long with in the future, looking around the 19,000-20,000 area.
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I found this pattern with the Harmonics.app Harmonic Scanner You can sign up to try for free today! Finding hundreds of patterns every day!
Follow the rules on screen Found trade via the new Harmonics app, which is being released next week!
see rules on the charts
see the main chart for rules and instructions. This is not financial advice.
Wait for price to break ceiling or floor then retest before entry.
Ensure you manage risk accordingly! ALWAYS WAIT FOR THE BREAK AND RETEST ON THE 1HR!
Please allow a break and a retest see my zones previous to see previous touches
Draw these within your own trading view charts and ensure you set alerts to make sure you are notified when the price breaks either zone.
This is for educational purposes, top down analysis from the 4hr, zones refined on the 1hr with multiple S&R areas on the back test.
Using price trap with all my trades has proven consistent and profitable, feel free to follow me on my ideas.
Using Price trap we are able to trap the price, waiting for a solid break and then a retest before entering the trade. No break and retest - no entry.
Rules: .01 - 100 GBP .02 - 200 GBP .03 - 300 GBP .04 - 400 GBP ......... .10 - 1000 GBP TWIN TRADE: 10 - 15 pips in profit = Set 2 pip stop profit 1st Order = 30 pip take profit 2nd Order = trail stop profit 30 pip stop loss no matter what. Example of Twin Trading: 1000 GBP in account = .05 + .05 = .10
Rules: .01 - 100 GBP .02 - 200 GBP .03 - 300 GBP .04 - 400 GBP ......... .10 - 1000 GBP TWIN TRADE: 10 - 15 pips in profit = Set 2 pip stop profit 1st Order = 30 pip take profit 2nd Order = trail stop profit 30 pip stop loss no matter what. Example of Twin Trading: 1000 GBP in account = .05 + .05 = .10 1. Wait for a break of support (floor) 2. Wait for...
Wait for the break and retest on this pair, will wait for the bar to close above the level then look for an entry.
1. Wait for a break of support (floor) 2. Wait for a RETEST (where price closes below the previous level of supports as a new resistance (ceiling), it is safe to enter Price doing this is a Continuation of a downtrend. 1. Wait for a break of resistance (Ceiling) 2. Wait for a RETEST (where price closes above the previous level of resistance) Once price confirms...