makuchaku Direction Bias
Monthly has recently rejected from a bullish Monthly rejection block, Weekly has formed a bullish breaker & Daily has also formed a bullish breaker. Hence we want to be a buyer.
Trade setup description : Buy EURNZD
Price on 4H has very recently rejected off a Daily bullish OB+ and has formed a bullish mitigation block – which I intend to trade
Trade setup confluences
- Price rejected from a bullish Daily OB+
- Price formed a bullish Mitigation block on 4H
- Trade is in discount area
- Path to 3R profit target is a low resistance liquidity run
Update – 12 May 2021
Price had a pretty nice take off when it reacted my trading zone overnight. It shot up straight to give me partials at 1R and 2R. Then I was trailing the price with my SL when it got triggered at 2R. In all, after taking partials – this was a nice 1.5R trade!
