Dear FF readers, it's a good saturday (relax mode), and i was just continuing my researches.
Looking at the EU chart, let's see some little analysis (pretty useless maybe?).
Of course i didn't trade these setups, they happened during the ny session, and here in asia it was night, i was just doing other things.
However, it is very interesting the PA of this session, there was a nice reverse that still can grab us some pips.
Image attached.
Analyzing it, we see different boxes of different colors, i've putted some letters (A B C D E F G) near each of them, so we can identify them better.
The first important box is the box C, as we see price was in downtrend, and approached a resistance level/retrace.
At this point, a good sell could be placed as soon as the price stop his upmove.
The hypotetical target of that sell is the box B (the lowest of the day).
The hypotetical stoploss level is the box A (red one).
However, price failed reaching the target, and just turned up again, hitting the last high (box D).
At this point, a trend reverse could be expected, the possible solutions would be exit the trade with a little loss, or add another sell (with the original SL well placed), looking for a retrace where to close the sells and reverse the position (let's buy!). Counter trend trade, just trend-reversal trade.
After that, price reached the support (box E), where we could had be closed the sells and buy as soon as price finish go down.
Now, with two sells closed for a relative little profit and a new fresh buy, the target would be the F box (the high of D), and the SL the point G (red box), once hitted the target point the trend would be officially reversed for this fractal.
Looks like there are 20 pips ready to be made, however entering right now (if market open without gaps) the RR would be 1:1, not really good. But the % of success is technically very good (i don't hazard any number, but i'm curious to see).
Looking at the EU chart, let's see some little analysis (pretty useless maybe?).
Of course i didn't trade these setups, they happened during the ny session, and here in asia it was night, i was just doing other things.
However, it is very interesting the PA of this session, there was a nice reverse that still can grab us some pips.
Image attached.
Analyzing it, we see different boxes of different colors, i've putted some letters (A B C D E F G) near each of them, so we can identify them better.
The first important box is the box C, as we see price was in downtrend, and approached a resistance level/retrace.
At this point, a good sell could be placed as soon as the price stop his upmove.
The hypotetical target of that sell is the box B (the lowest of the day).
The hypotetical stoploss level is the box A (red one).
However, price failed reaching the target, and just turned up again, hitting the last high (box D).
At this point, a trend reverse could be expected, the possible solutions would be exit the trade with a little loss, or add another sell (with the original SL well placed), looking for a retrace where to close the sells and reverse the position (let's buy!). Counter trend trade, just trend-reversal trade.
After that, price reached the support (box E), where we could had be closed the sells and buy as soon as price finish go down.
Now, with two sells closed for a relative little profit and a new fresh buy, the target would be the F box (the high of D), and the SL the point G (red box), once hitted the target point the trend would be officially reversed for this fractal.
Looks like there are 20 pips ready to be made, however entering right now (if market open without gaps) the RR would be 1:1, not really good. But the % of success is technically very good (i don't hazard any number, but i'm curious to see).