SLK STRATEGY
On the weekly timeframe, price is rejecting at a weekly A_ SHAPED key level. Remember A_SHAPED Key levels are used for sells.
On the daily timeframe, we had a breakout to the downside to signal a sell. Weekly and daily are now aligned.
Here on 4hrs, we also had a breakout to the downside with a single candle liquidity. I am expecting price to sweep the liquidity before selling.
Here on 4hrs, we also had a breakout to the downside with a single candle liquidity. I am expecting price to sweep the liquidity before selling.
The thought process played out practically well. The single candle formation liquidity was swept and price started dropping.
I just took a sell trade on GBPCHF with 10pips stoploss using my SLK strategy.
I just took a sell trade on GBPCHF with 10pips stoploss using my SLK strategy.
This is the progress of the trade . I will update when I close the trade.
This is the progress of the trade . I will update when I close the trade.
This is the result of the trade. Would have made more but maven prop firm closed my trade. I don’t even know what went wrong with their system
CADJPY.
Daily rejected at a daily fresh key level.
Next, we had a breakout on 4hrs timeframe. This breakout on 4hrs confirms the bearishness of the daily timeframe.
Next, we had a breakout on 4hrs timeframe. This breakout on 4hrs confirms the bearishness of the daily timeframe.
Now we wait for H4 candle to sweep the Asian session liquidity, reject and close bearish. Afterwards, we can look for confirmation entry on lower timeframe.
This is the result of the trade. Would have made more but maven prop firm closed my trade. I don’t even know what went wrong with their system
If they closed your trade prematurely then you should ask them why i am sure they have a live chat.
Next, we had a breakout on 4hrs timeframe. This breakout on 4hrs confirms the bearishness of the daily timeframe.
Please a breakout of what? I dont understand the 4 hour chart
EURUSD
I am waiting for price to retrace to the marked breakout key level zone and i will wait for price reaction at that zone.
EURUSD
I am waiting for price to retrace to the marked breakout key level zone and i will wait for price reaction at that zone.
The probability that price will get to 1.2100 today is very slim except you dont want to trade today.
Please a breakout of what? I dont understand the 4 hour chart
A breakout to the downside. I marked it out on the chart, Pls go through the thread if you need more information.
The probability that price will get to 1.2100 today is very slim except you dont want to trade today.
Ohh, it does not have to get there today. I will patiently wait for it. I trade more than one pair so i will definitely geta a pair that presents my setup.
A retracement to this zone plus candle rejection and candle closure will determine my next action. I am patiently waiting.
