Propsective Interday Long

Here we see that EURUSD has made a drastic drop of approximately 125 pips; however, all it has really done is enter into a HTF demand zone and also my bias remains bullish overall. Movement that strong is never wise to counter with just sentiment alone and so I will be gathering technical evidences in support of the return back up, and if no such evidences present then I will not trade or I will seek to continue in the down movement. There is also demand zones drawn from my 1D timeframe so price may seek to tap into them as well. As of far there is imbalance left from the down move which incentivizes buys and I recognize that the market will likely seek to stop out those in the money. The long position I have place is to provide an approximation of where I see myself potentially getting in, and if it does not play out quite how I envision then I will adjust my long position as necessary, if it still applies. Simply we must wait.

Trust And Patience
-KWH

Comment:

I could have entered after adjusting my entry; however, I used to have a bad habit of entering as soon as my level was tapped into. I want to just wait and allow the market enough time to provide information in support of my bias. I never want to find myself chasing money ever again. I will still set out for buys and will take proper time while doing so.

Trust And Patience
-KWH

Trade active:

Great pullback here, but significant low has not been taken out. I will continue with my overall bearish bias. As for this particular trade, I will be looking to potentially get back in for the buy unless price continues this downward movement.

Order cancelled:

Also, for the previous update, I meant bullish bias.