Trade of the Week: Lower Lows and Scissors
Date mark up: October 15, 2023
GBPUSD
This week we introduced a new strategy were we classify lower lows in a trend. These are yellow horizontal rays places at each point where the market made a NEW lower low. Meaning it went lower than the previous low; Imagine walking down a staircase, the market is moving the same downwards motion.
We placed an alert at 1.21622 and at 1.22349. These coordinates are our entry point for a SELL position. Both positions are outlined using the path tool and remember to wait for a break and restest. Make sure you understand the sell position can be triggered at 2 points; 1.21622 and at 1.22349. These 2 coordinates are also the 50% of the fib ( Scissors trade) making is another confirmation for a sell position.
Advanced position: Get in and Out
Our 1.21622 alert was activated for a small buy position because it cleared for a break and restest and is currently in profit.
Standard Rules:
*Position Type: Limit orders and Market Execution orders ONLY
* Only risk 5% of your account
TP1 100 pips
Tp2 150 pips
Tp3 200 Pips
GBPUSD This week we introduced a new strategy were we classify lower lows in a trend. These are yellow horizontal rays places at each point where the market made a NEW lower low. Meaning it went lower than the previous low; Imagine walking down a staircase, the market is moving the same downwards motion.
We placed an alert at 1.21622 and at 1.22349. These coordinates are our entry point for a SELL position. Both positions are outlined using the path tool and remember to wait for a break and restest. Make sure you understand the sell position can be triggered at 2 points; 1.21622 and at 1.22349. These 2 coordinates are also the 50% of the fib ( Scissors trade) making is another confirmation for a sell position.
Advanced position: Get in and Out
Our 1.21622 alert was activated for a small buy position because it cleared for a break and restest and is currently in profit.
Standard Rules:
*Position Type: Limit orders and Market Execution orders ONLY
* Only risk 5% of your account
TP1 100 pips
Tp2 150 pips
Tp3 200 Pips
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