I am intending to risking it big for this trade. By this, I mean that to trade this trade is good risk, although the risk amt may be big. But as traders, I believe that when the time has come, we must show up and hit the big trades.
There are many trade criteria that has been fulfilled for me:
Monthly chart remains that price is bounded and topping out but I shall not be too concerned with that and to focus on the immediate momentum. The big pt2. are 52 weeks level which has been broken previously and now broken up back to become a support.
A strong 1234 WR pattern has been completed.
The significance of it is that WR8B and BM has been completed from a single bullish expansion day.
Power h1 1234 from this bullish expansion day. There is a smaller bull flag forming up,
with very strong support that i see @ fib5 of this expansion, coming from d1 line chart support/ 52 weeks support h4 box high confluence.
is this A trade criteria?
It is interesting to see that what I believe to be an A+ trade does not score high in my A trade rubrics. Only achieving a score of 9. Fractal patterns and a multi day 1234 setup has not appeared yet. The max potential of point it can score perhaps will be 13-14. For fractal setup to appear, it may take another 6-8 weeks. Then again, NZD bull trade must be taken next week. movement of 50 pips is guaranteed at least, and I must hit my hardest to grab that 50 pips.