Hi Everybody
Here is a great “manual” DP sell on a 1hr (60min) EURUSD chart. As you can see the short was entered as the markets reversed off the DP level with a red (sell) reversal bar. The target was the “opposing” DP level.
The EUR has just reached this level where this short trade would have been stopped out for a nice +4.3R Profit
BUT, what of the STF strength band I hear you all ask ? Exactly, the above sentence was actually a little “test” to see how many of you were paying attention. Exactly, as the STF strength band has been exceeded, the stop is now trailed just above the ATRStop.
Thanks
Steve
Here is a great “manual” DP sell on a 1hr (60min) EURUSD chart. As you can see the short was entered as the markets reversed off the DP level with a red (sell) reversal bar. The target was the “opposing” DP level.
The EUR has just reached this level where this short trade would have been stopped out for a nice +4.3R Profit
BUT, what of the STF strength band I hear you all ask ? Exactly, the above sentence was actually a little “test” to see how many of you were paying attention. Exactly, as the STF strength band has been exceeded, the stop is now trailed just above the ATRStop.
Thanks
Steve
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