On May 2 2024 I posted on social media @AidanFX the NAS100 BUY setup chart. The index was in an uptrend and price dipped lower and tapped into the 4 hour demand/buy zone (Gray) where price bounced while forming a trend continuation divergence pattern (Red). Buy entry was triggered on the lower time frame 5 minute chart with targets following the higher time frame 4 hour chart.
NAS100 5 Minute Chart May 2 2024 (Entry Time Frame)
NAS100 4 Hour Chart May 2 2024 (Target Time Frame)
NAS100 4 Hour Chart May 3 2024 (Target HIT / Trade Closed)
Entered the BUY trade May 2nd 2024 at 17407 with stop loss at 17345. NAS100 moves higher to the proposed targets. On May 3rd 1:8RR target at 17903 hits and is where I closed the buy trade before the trading week ended for a +8% 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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