GJ long position
Just an update on the gj long trade I posted..
The reasonings for this trade are below... I hope its beneficial to anyone even if its just one person i hope you learn and prosper aswell.
Daily: HH and HL formed. Price sustained above prev low for 4 consecutive days, forming a new HL. HL consists of a morning star cs with the bullish of the MS engulfing 3 days of PA. After this price formed an inverted hammer cs. At this point we are long as this is a HPS and we are looking for an entry point.
4 hour:Price formed a new HH taking out 2 prev 4 hr lower highs. Price then pulled back down and at this point we are looking to play the probability that a new higher low is going to be formed and we are already looking for an entry due to daily timeframe. After pulling back down price then ended up forming an inverted hammer candlestick; price then formed a ''small'' higher low which was completed via sexy hammer candlestick. After this hammer cs looking to enter or could enter of the close of this hammer but i rather the intra lh be taken out first.
1 hour:Price formed a double bottom via two morning star cs. After the second MS bullish momentum came through taking out the prev intra LH negating that downwards momentum and then during start of london session price formed a bullish engulfing cs and I entered here.
Its imperative that as a trader you learn higher time frame analysis....
The reasonings for this trade are below... I hope its beneficial to anyone even if its just one person i hope you learn and prosper aswell.
Daily: HH and HL formed. Price sustained above prev low for 4 consecutive days, forming a new HL. HL consists of a morning star cs with the bullish of the MS engulfing 3 days of PA. After this price formed an inverted hammer cs. At this point we are long as this is a HPS and we are looking for an entry point.
4 hour:Price formed a new HH taking out 2 prev 4 hr lower highs. Price then pulled back down and at this point we are looking to play the probability that a new higher low is going to be formed and we are already looking for an entry due to daily timeframe. After pulling back down price then ended up forming an inverted hammer candlestick; price then formed a ''small'' higher low which was completed via sexy hammer candlestick. After this hammer cs looking to enter or could enter of the close of this hammer but i rather the intra lh be taken out first.
1 hour:Price formed a double bottom via two morning star cs. After the second MS bullish momentum came through taking out the prev intra LH negating that downwards momentum and then during start of london session price formed a bullish engulfing cs and I entered here.
Its imperative that as a trader you learn higher time frame analysis....
Haftungsausschluss
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