Price is below the Daily, 60 and 15 KS as well as the cloud. This is a Type 1 trade with a High probability and good RRR. 2 Potential entries (it is one or the other, not both) Entry = 127.62 Stop = 127.82 Risk = 20 pips Profit target = 125.85 ( The projected daily low ) Reward = +177 PIps RRR = 8.85 - 1 2nd Entry = 126.48 Stop = 126.78 Risk = 30 pips Profit target = 125.85 ( The projected daily low ) Reward = 63 RRR = 3-1
I would appreciate if you leave a comment or like as a thank you Have a great week ! Allen
Orden cancelada
⋅
Although it was anticipated that GBP would retrace today, it did not pullback to our entry and the the continuation down has started. Primarily because of JPY strengthening. breakout trade is no longer viable either as their is no correlation with the other GBP pairs.
Hi Allan, this time i've used the asian box top instead of the 60m KS as entry point. I'm out already.
Can you explain us because you selected the 60m KS as entry point? Tnx.
AGold54
⋅
@FabioCv, wow you guys want all my secrets today...lol Fabio, if the top/bottom of the Asian box is close to the 60 KS I will use the 60 KS as it is a stronger res/sup level. moreover, as you know GBP has been getting hammered for several days so a more significant pullback has to be anticipated.
FabioCv
⋅
@AGold54, great, i got it! You are helping us with your secrets sharing :-)
I didn't used the 60KS because being nearly 50 pips away from AB top seemed a bit too much further, but it isn't if looking at the 60m price and EMA. Good call by you as usual.
danielem
⋅
You use the daily just to see if price is above/below ks and entries based on the 60M right?
AGold54
⋅
@danielem, Not necessarily, for the PB trades, if the 60 KS is near the top of the Asian box, I will use the 60 KS, if it is not I use the top of the Asian box.
danielem
⋅
@AGold54, do you determine the asian box based off the 60M?