Good morning Traders !
(SCALP)
Starting with Top Down analysis : XU had been respecting weekly support whilst printing lower lows = Giving me bearish sentiment for the trading period.
Daily TF: To further back my hypothesis of XU being bearish for the moment, price had failed to close above 1771.00 a previous swing high.
5 min: I place Direction Bias Indicators to help further back my hypothesis. My hypothesis for this particular trade is that if price closes below my Directional Bias Indicators. Price indeed will be bearish for the trading period and to execute shorts on XU.
There was mini support at 1743.75 (TAKE Profit) entering at 1753.40
Added a healthy amount of lots to this particular trade because the set up was beautiful.... With that being said take what the market gives me and KEEP IT SIMPLE.
Happy Friday Traders!
(SCALP)
Starting with Top Down analysis : XU had been respecting weekly support whilst printing lower lows = Giving me bearish sentiment for the trading period.
Daily TF: To further back my hypothesis of XU being bearish for the moment, price had failed to close above 1771.00 a previous swing high.
5 min: I place Direction Bias Indicators to help further back my hypothesis. My hypothesis for this particular trade is that if price closes below my Directional Bias Indicators. Price indeed will be bearish for the trading period and to execute shorts on XU.
There was mini support at 1743.75 (TAKE Profit) entering at 1753.40
Added a healthy amount of lots to this particular trade because the set up was beautiful.... With that being said take what the market gives me and KEEP IT SIMPLE.
Happy Friday Traders!