T4 – USD/TRY

ENTRY

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Daily // 4H // 1H // 30mins

Analysis

Support & Resistance // Trend Lines & Channels // 21&50 Moving Averages // Elliot Waves // Multiple Timeframe Reference // Fibonacci Levels

get context for the set-up

Entered at flag bottom. Could be Wave C and if so, entry is timely for the anticipated break out. Otherwise, hold out for Wave E to play out.

Criteria

TREND on entry timeframe Determined by 21&50+C SMA if subjective (✓)

ADX>25 registered on impulse wave (✓) ADX50

Low volatility when keying order Area of value (✓)

Continuation/Correction/Consolidation/Coil Structure

Flag // Pennant // Wedge // Triangle // Rectangle

Simple Retracement [Fibonacci 50% // S&R Zone // 2150 TAZ]

Falling Rising Wedge // Complexed ABC pullback

Higher Timeframe Inside Bar

Orders

Entry @ Break of Structure // Area of Value + Candlesticks

Stop Loss @ +1ATR away from last wick // 50 SMA as guide

Take Profit @ Length of Prior Impulse // Next Area of Value

1% capital risked for potentially 3.9R

Open: 3.555 | Stop loss: 3.47 (-850 points) | Take Profit: 3.89 (+3350 points)

Remarks: Will look to add on LTF if move is massive

MANAGEMENT

Risk Halved

Shift to Break Even

Securing xR

EXIT

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Initial Stop Loss

Manual. Reason: Account close out.

Trailing Stop

Take Profit

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