Signal: NNFX Baseline Cross Short
Context: Baseline Cross on Monday, Pulled back intraday and continued trajectory.
Probability: Low - Long Volume opposing Short Momentum. Exhaustion close.
Risk: Base 1% -> Full Baseline Cross trade within 7 candles of original full signal, on a clean trend
R:R Plan: 1R, 75% scale-out at TP for low probability & drawdown management.
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Notes:
Apart from GDP News within the day, there is a clear fundamental path to reach TP
Probability is still classified as low due to Long Volume still outpacing Short Volume but this is waning - but the 1R setup makes up for this. There is also scope in this trade to secure this trade at in 1-2 days into a 1.5-2R position.
75% Scale Out at TP is set up due to order block sitting approx 1.5x ATR from entry, presenting possible barriers to trend beyond.
Context: Baseline Cross on Monday, Pulled back intraday and continued trajectory.
Probability: Low - Long Volume opposing Short Momentum. Exhaustion close.
Risk: Base 1% -> Full Baseline Cross trade within 7 candles of original full signal, on a clean trend
R:R Plan: 1R, 75% scale-out at TP for low probability & drawdown management.
---
Notes:
Apart from GDP News within the day, there is a clear fundamental path to reach TP
Probability is still classified as low due to Long Volume still outpacing Short Volume but this is waning - but the 1R setup makes up for this. There is also scope in this trade to secure this trade at in 1-2 days into a 1.5-2R position.
75% Scale Out at TP is set up due to order block sitting approx 1.5x ATR from entry, presenting possible barriers to trend beyond.
Trade closed manually
Exit Signal on the closed candle today. A small loss of 0.35%
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.