On March 6 2024 I posted on social media, @AidanFX , “NAS100 will continue looking for buying opportunities as long as price is above 17810.” Below I will explain the reasons why I entered the BUY/LONG trade.
Buy Trade Setup
1. Price entered bullish 1 hour IFVG/Inversion Fair Value Gap. (Light Blue Box)
2. Price entered bullish FVG/Fair Value Gap. (Red)
3. Price and RSI indicator forms a bullish divergence pattern inside both zones to add more confirmation for the buy entry. (Dark Blue Line)
NAS100 15 Minute Chart March 7 2024 (Entry)
NAS100 15 Minute Chart March 7 2024 (Target HIT)
Entered the BUY trade at 17908 with stop loss at 17810. NAS100 moves higher to the proposed target level and hit the 1:4RR Target at 18300 where I closed the trade for a +4% gain (Risking 1% on every trade).
A trader should always have multiple strategies all lined up before entering a trade. Never trade off one simple strategy. When multiple strategies all line up it allows a trader to see a clearer trade setup. If you followed me on social media you too could have caught the NAS100 move higher.
Of course, like any strategy/technique, there will be times when the strategy/technique fails so proper money/risk management should always be used on every trade. Hope you enjoyed this article and follow me on social media for updates and questions> @AidanFX
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