In today's Trade of the Day for March 12, 2024, Adrian provides a detailed analysis of two trades identified by the D1 sniper strategy: the CAD/Swiss and Hang Seng.
In the analysis, the CAD/Swiss trade is found to be in a sideways market phase with a stop loss below 40 points, indicating a lack of momentum and making it unsuitable for trading to avoid potential losses.
Conversely, the Hang Seng trade showcases a strong upward momentum with a significant movement exceeding the 40-point stop loss threshold, resulting in a successful trade outcome.
The Hang Seng trade successfully hits both starter and extended targets, highlighting the strategy's efficacy in capturing profitable opportunities.
We emphasise the significance of minimising loss-making trades by filtering out trades based on momentum and risk assessment.
This TOTD serves as a valuable resource for traders seeking to enhance their trading strategies and optimise their profitability in the market.
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