Trade of the week: EUR/USD H1: 29-31st of March: +3.5% (+107 pips)
For more details and examples of trade, click "Examples of Trade" in the menu
This is a countertrend trade. On the 29th of March, on D1, we have a bearish chart, and we have a BDC (bearish divergent candle), on H4, we have a lovely BDC, a divergence and the Ewave is about to cross the zero line, 3 signs of a countertrend trade. On H1, we missed the first valid setup (too late in the day) following a lovely BDC and the break of the sleeping alligator box. After some pullback during the night, we take the second entry at London Open which is a double entry H4-H1 (the initial SL is at 30 pips), the price goes down and never closed above the red line neither later the green line, we exit 2 days later while the price breaks the upper level of the box for +107 pips which is +3.5% of profit. The first entry would have given us +6% profit.
For more details and examples of trade, click "Examples of Trade" in the menu
This is a countertrend trade. On the 29th of March, on D1, we have a bearish chart, and we have a BDC (bearish divergent candle), on H4, we have a lovely BDC, a divergence and the Ewave is about to cross the zero line, 3 signs of a countertrend trade. On H1, we missed the first valid setup (too late in the day) following a lovely BDC and the break of the sleeping alligator box. After some pullback during the night, we take the second entry at London Open which is a double entry H4-H1 (the initial SL is at 30 pips), the price goes down and never closed above the red line neither later the green line, we exit 2 days later while the price breaks the upper level of the box for +107 pips which is +3.5% of profit. The first entry would have given us +6% profit.
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