might be accumulating on monthly, meaning they are building long positions, but untill they decide to mark up the price, might be a while, no1 knows exactly but for right now i m expecting atleast a bounce in that area, after might come back again, maybe sit there at resistance absorbing the shorts… till then i m gonna wait for clear signs of weakness or strenght
dude, who taught u how to trade? ur self taught or u took some course etc? just out of curiosity
if u trade 15, then look atleast at 30 and 1hr etc, cos on 30 mints i see bids comin in at that lvl, plus is a small fractal fib also in that area(50 ema on 15m also), that doesn t mean it won t go down, but that means might range, whip around before dropping. i m just saying this for u to take in consideration if u will, cos if ur stop isn t in a good place and ur not at the comp u might get stopped out etc
Yeah, I admit, this is a counter trend trade. I may exit early here, because it really is taking its time coming down. Keep you posted
when all else fails, cheat and look at the 5 min chart. Got out before stop hit. I still think it is going to tag the trend line, just not enough profit in it to take it short again
it s about takin the trade at the right time, doesn t matter if u go counter trend. i go counter trend often 2, but i make sure i buy or sell in an area where i see high vol(actuvity) coming in, imbalance of supply and demand, climactic vol, signs of distribution or accumulation etc…anyways, just saying to be more carefull and don t throw money away
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hahahahhaha, u have fear of missin out and ur trading impulsively, i know what s that like
just as an example, that s a possible trade setup, u ll increase or probablity if u wait a bit more and enter at the right time
get out of that eurnzd dude))))
dude, those wicks represent buyers, get the heck out lol
check this trade i just entered
i could lose this trade for ex, i don t really care, i have a fixed % risk on my account, plus i know that 70 to 80% of the times i win these type of trades, specially when ur trading along with the higher timeframes.
Since this has the potential of being an ABC pullback on the 1 hour chart, I decided to take 2 profit targets on this 15 Min chart:
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Your trade looks similar to mine. I would be bearish on it also.
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Took second profit a bit early. It was close of 4 hour candle and it started to get a little jerky. All in all, not a bad trade:
Going flat. See you For Asia session.
Wound up with an ugly looking sell signal at the close of the 4 hour candle. Didn’t even make it to the channel line. Got out just above BE.
Good week for profit (10%)
Hit rate still needs to be improved.
Trades taken: 20
Wins: 10
Losses 8
Break Even: 2
The thing that worked for me this week was scaling in . It helped overcome losses quicker. Also, I got my signals from lower time frames and and took profit on higher time frame support/resistance. The goal for next week is to let these trades run even longer. The EUR/NZD can have very extended trends. That’s what I like about this pair.
See you next week. Have a great weekend.