Low Risk scalp trade I took last night before bed. Caught around 40 pips on this move. With this trade I was looking for a Tenken Sen bounce off of support and for price to meet Kijun Sen on the Daily time frame.
Analysis:
Price was respecting support trend line drawn underneath on the 1H time frame. 4h time frame showed price had dipped into the cloud but was rejected (indecision candle). Daily time frame showed price around the Tenken Sen (Red line) with a long wick to the downside. With all this in mind, I was expecting price to test Kijun sen (Blue line) on the daily time frame.
Entry: .66521
SL: .6635
Target: .66967
Analysis:
Price was respecting support trend line drawn underneath on the 1H time frame. 4h time frame showed price had dipped into the cloud but was rejected (indecision candle). Daily time frame showed price around the Tenken Sen (Red line) with a long wick to the downside. With all this in mind, I was expecting price to test Kijun sen (Blue line) on the daily time frame.
Entry: .66521
SL: .6635
Target: .66967