Eurusd Scalp Trade

 

Here is a Eur/usd Scalp trade,  again I missed it but hey that’s life!  what you can see is that as well as the five min S/R zones there was a five minute channel that provided further confirmation of entry.  Trade would be exited at either the pink weekly support running through the trade if over a 1-3 ROI or moved to break even with the target of 1-3 or greater and/or the other side of the hourly channel.  As I write this price is moving against this trade we’ll see what happens…

This trade would have been a stopout and is interesting because of the higher time frames, there may be those who think it is a waste of time putting in weekly and monthly lines into these lower time frame trades but if you look at the last chart you will see that price had moved strongly off the pink trend line and the hourly channel that was the potential trade just couldn’t withstand the opposing weekly momentum.  If I hadn’t been posting the trade at 4am I would have been more alert to the conflict.  So the ideal is to take hourly channels and S/R trades that align with the higher time frames not conflict.

hourly_channel

 

hourly_scaslp_5_min

 

failure

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