Retest back into a fresh demand zone , possible retracement, long opportunity

Stuff to remember:

— First look for significant move, then follow it to its origins where you might find a suitable level to evaluate further

— Make sure the initial move is significant on the same timeframe as the one you use for viewing your candidate level most clearly

— Check the distance that price traveled before the trend ended, longer distances mean larger initial imbalances and improved probabilities in the future

— The strong initial move can contain a few small retracements but not so many that make this move slow and weak

— Avoid opposing levels on the same and immediately higher timeframes, prefer to have a clear road ahead for your trade to run

— Make sure your level is placed correctly (low for Demand, high for Supply) in relation to the big picture's important tops and bottoms

— Trading the first return of price to a valid "fresh" level carries the highest probabilities due to the larger imbalance

— A valid level is considered "fresh" if price has not returned to it since its creation. It has nothing to do with how old the level is


Another long opportunity?
Tradewonk Mmoremi
@Mmoremi, No i just inform that the target are reach for those have had the trade open.
hello why did you close it ?
Tradewonk hayatguzel
@hayatguzel, i made more than 1:2 RR profit on it. But i still think it will go much highere by time
hayatguzel Tradewonk
@Tradewonk, congrats
Tradewonk hayatguzel
@hayatguzel, Thank you.
hayatguzel Tradewonk
@Tradewonk, are you using 2618 method, i think it is very convenient when you combine it with your strategy, for example in case of NZDCAD it indicates there would be a return around 0.87800 which is fib 61.8 from the double bottom. When there is double bottom/top 2618 method is a very good tool for you i think.
hayatguzel hayatguzel
@hayatguzel, if you use 2618 method for this trade Risk Reward ratio was 1:7
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