Its not a trading signal, i will look to long only if pric will return back into bullish orderblocks + imbalances confirmed with a HTF bullish market structure. Thats a perfect setup that i wait when i enter trades, htf structure combined with smart money concepts for entries. What do you think ? Comment below..
The bank of Canada after pandemic Corona in 2020 decided to cut the interest rate for saving the worth of Canadian Dollar and it happened in 3 sessions: 1- A decrease in March 4th from 1.75 to 1.25 2- in 13 of march decrease from 1.25to 0.75 3- in 274 of march decrease from 0.75 to 0.25
As you can see, we lost our ucad buy even though we traded it according to the trend! A higher low was expected and it moved up 50 pips giving a buy signal on the way up and then totally moved down! Very Upsetting! U can see the trend structure on the chart and u can see what was expected and what really happened. I believe that this is something we can learn from!
Last week we saw a double bottom created on USDCAD 4 hour, with a decent outcome of the NFP last Friday it sent the Dollar flying against CAD. Clearly showing the double bottom pattern would have been perfect to buy once completed.
Taking profits early was a hard lesson I had to learn. I occasionally still do it. See chart For me, the key to LONG-TERM success in this business is not your win/loss rate, but the magnitude of your wins vs your losses. My biggest mistakes have all come from taking profits early, not from taking small losses.