TRADE OF THE WEEK: COMBO
Date mark up: October 1, 2023
This week there is a set up for Rock Trade
Before it breaks out to the upside for the rock trade there are 2 strong earths that can be respected strongly. This opens a position for a potential sell set up. A more technical trader ( Newer Trader) should wait for a CLEAR. Great and retest on the EARTH.
THE 1HR IS THE LOOKOUT AND THE 4 HR IS THE confirmation. If you enter at the 1 hr the market can hit your SL. Instead wait for the 4hr, wait for a close and retest and make your TP the next zone. Trade zone to zone at these 2 important zones which are the floors.
- Rock trade (Buy)
Trade setup: Place a red trendline to identify a downtrend. The green candle broke out and closed above. Once that happens grab a green ray and place it where the candle broke out of the trend line. Now this becomes a NEW earth.
1 Execute: The Market candle closed above the trend line on the for 4hr. Place a buy on the next new candlestick open.
2 Execute: The Market broke out and came back and retested the NEW earth for a BUY position
Standard Rules:
*Position Type: Limit orders and Market Execution orders ONLY
* SET AN ALRAM ON TREND LINE AND EARTH
TP 1: 100pips
TP 2: 200pips
TP 3: 300pips
This week there is a set up for Rock Trade
Before it breaks out to the upside for the rock trade there are 2 strong earths that can be respected strongly. This opens a position for a potential sell set up. A more technical trader ( Newer Trader) should wait for a CLEAR. Great and retest on the EARTH.
THE 1HR IS THE LOOKOUT AND THE 4 HR IS THE confirmation. If you enter at the 1 hr the market can hit your SL. Instead wait for the 4hr, wait for a close and retest and make your TP the next zone. Trade zone to zone at these 2 important zones which are the floors.
- Rock trade (Buy)
Trade setup: Place a red trendline to identify a downtrend. The green candle broke out and closed above. Once that happens grab a green ray and place it where the candle broke out of the trend line. Now this becomes a NEW earth.
1 Execute: The Market candle closed above the trend line on the for 4hr. Place a buy on the next new candlestick open.
2 Execute: The Market broke out and came back and retested the NEW earth for a BUY position
Standard Rules:
*Position Type: Limit orders and Market Execution orders ONLY
* SET AN ALRAM ON TREND LINE AND EARTH
TP 1: 100pips
TP 2: 200pips
TP 3: 300pips