Hello all,
This idea is based on an IEP chart pattern in a falling market that may be a tell for a turn to at least 130350. As this was setting up on friday no trigger was activated ( Break of upper green MLH ) so the weekend provided alot of time for traders to place their long orders so I expected a gap on open. The market has since filled the gap and provided another entry if the SL ( Sliding Parallel ) breaks to the upside. Notice how the recent downward sloping SL is picking up the price action:)
PS: I am moving my entry stop at 1 pip above each of the previous lower bars until activated or cancelled due to a close below 0-4 Line. This improves the R:R on trades like this. As of publishing this idea I am waiting for a long entry.
Sincerely,
TIK
This idea is based on an IEP chart pattern in a falling market that may be a tell for a turn to at least 130350. As this was setting up on friday no trigger was activated ( Break of upper green MLH ) so the weekend provided alot of time for traders to place their long orders so I expected a gap on open. The market has since filled the gap and provided another entry if the SL ( Sliding Parallel ) breaks to the upside. Notice how the recent downward sloping SL is picking up the price action:)
PS: I am moving my entry stop at 1 pip above each of the previous lower bars until activated or cancelled due to a close below 0-4 Line. This improves the R:R on trades like this. As of publishing this idea I am waiting for a long entry.
Sincerely,
TIK