Hello guys yeah...I had my eye on GU from Wednesday and after long day of waiting I got my confirmation for a buy trade and still hasn't hit my TP which is a previous HH of course I'm looking for price to hit my -27extension level but at first the
1. Had a retracement on the Daily time frame
2. Had my fib retracement and when hit 50 was watching price reaction.
3. Four hour gave me a big doji candle
4. scaled down to 1 hour and waited for break of structure price broke LH and created a HH
Confluences=
5. Marked that HH which was my entry if broken
6. Price has broken out of consolidation waiting for retest and then entry
7.Price had broke a counter trend Main trend was uptrend
8.MA crossover for more confluence
-Took the trade STOP LOSS previous market structure (HL formed when price broke through consolidation formed a high point and retested the consolidation)
-TP I took it for a nice 1:4 RRR of course -27 extension is another TP but for this trade had it at point A of the counter trend.
1. Had a retracement on the Daily time frame
2. Had my fib retracement and when hit 50 was watching price reaction.
3. Four hour gave me a big doji candle
4. scaled down to 1 hour and waited for break of structure price broke LH and created a HH
Confluences=
5. Marked that HH which was my entry if broken
6. Price has broken out of consolidation waiting for retest and then entry
7.Price had broke a counter trend Main trend was uptrend
8.MA crossover for more confluence
-Took the trade STOP LOSS previous market structure (HL formed when price broke through consolidation formed a high point and retested the consolidation)
-TP I took it for a nice 1:4 RRR of course -27 extension is another TP but for this trade had it at point A of the counter trend.
