Dislikedjack do u reckon its a good chance to go long on 4 h putting 1307 retracement in mind and locking profit there. if so then wht will be the sl cheersIgnored
Notice the 8 Hour timeframe, the price is currently situated in a very tight Consolidation Zone (i.e. Short @1304.53 & Long @1302.22). This is referred to as a Passive Consolidation Zone.
Also, we are simultaneously Long @1299.63 on the 4 Hour timeframe and Short @1307.63 on the Day timeframe. This is also a Consolidation Zone and is likely to remain effective at least until 12:00 UTC-5:00. This is referred to as an Active Consolidation Zone.
So for me, this type of trade does not offer the Risk/Reward I am looking for which is typically a minimum of 5:1.
Using the FIA, traders need only "Sell the Highs" & "Buy the Lows".