February 24, 2024 8:40 AM (GMT+11) The NASDAQ trade rose to create another new high, but it turned out to be a fakeout as it completely reversed the move and went into a bear rotation down on the 60.This price action nearly tagged stops, but managed to not get filled and stayed in the trade. This trade will be held over the weekend.
February 24, 2024 8:49 AM (GMT+11) Still in the trade but looking like it will tag me out very soon before the NY close.
February 24, 2024 8:50 AM (GMT+11) A trade that gets filled and immediately rolls over to hit Take Profit / Target..
Keeping the bullish APG order open to continuously trade both sides of the price action.
Following the article I previously wrote, below is a recap of how I executed this trade idea. I will be referring to this prior analysis in this post. For a refresher, click here. Also, check out my trading calendar which documents every single trade I take live. This can be found in the link above under 'Trading Calendar'.
February 6, 2024 Entered short from a 3-Bar Reversal. This is the most aggressive approach mentioned in the first way to enter this trade. It then provided a second chance entry by running a double top at that zone. If you had missed the first chance to enter or didn't want to be so aggressive, that was your second shot. (This was scenario 2 from the article).
Excuse the white charts, then the change back to black charts. I tried the whole white chart thing and I just couldn’t do it. Dark mode is king.
Then on the following day, price rolls over to hit target.
The next trade executed to continue with the US Dollar price action trade idea was a separate trade setup but with a correlated trade idea: buying the EUR against the USD. This trade was based on a larger descending channel that reached a major support level and formed a double bottom on the 60-minute timeframe. After the double bottom, price gained momentum and respected a tight trendline pullback, providing another opportunity for entry (2 positions were opened) to go long. This additional confirmation supported the trade idea.. The target for this trade is a retest of the last high before the completion of the descending channel pattern, as shown in the screenshots.
