Trade of the Week: COMBO

Date mark up: October 15, 2023
XRPUSD

Scissors Trade
Trade setup: Identify a an engulfing candle stick ( Bullish engulfing or Bearish engulfing) on the 4Hr. Then grab your fib and place it from the top of the candle to the bottom of the candle. Next grab a white dotted ray and place it at the 50%. Make sure to delete the fib after identifying the 50% mark. Now we are waiting for a break above or below at the 50% followed by a retest at the same 50%.
Execute: Break and retest
WON> TP 327 Pips

Payper Trade
BROKE OUT OF CONSOLIDATION
Trade setup: When the market is moving sideways use the box tool to identify the market consolidating. We are waiting for a break and retest for either a SELL or a BUY.
Execute: Clear break and retest from top or bottom of box.
WON> TP 130 Pips



Standard Rules:
*Position Type: Limit orders and Market Execution orders ONLY
* Only risk 5% of your account