Published on

EURUSD - Trade Execution - 18-09-23

Authors
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    Name
    Tradeaze
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HTF Chart

H1 Chart

Starting withe H1 timeframe, I noted price reached into the H1 bullish order block within the dealing range. Why the body of the order block and not the wick, there was no fair value gap (FVG) left to try and utilise.

So dropping down into a lower time frame.

M5 Chart

I noted a double bottom in the H1 bullish order block and waited to see if price would raid that and move higher quickly. It did, so the next thing I looked for was the market structure shift (MSS). Green lights are go, I'm now looking for an FVG to enter my trade on. There are two, I didn't want to miss out on the move and maybe with experience I'll be able to determine, I'm in a deep discount within a deep discount.

So entered a long position, felt nervy watching it drop to the lower FVG, thinking I could have read this completely wrong, but flicking between the H1 and M5 charts, I held my nerve to let price run upwards and when it started moving with some pace, all that was left was to manage the trade. Aiming for about 30 pips, ended up taking a little bit more.