As reported in my previous post on this pair this is now coming close to resistance. The blue line indicates the lowest point of the old support which was obviously broken and now should act as resistance. I want to see this reach this price and rebound lower to the next target. Need to wait for the price to show it is reacting to this level before entering a...
Undertanding money distribution before sell-offs is crucial to becoming a profitable trader. This pair did a run on stops holding above the 'break & re-test' area before shifting trend, we should start to see strong bearish moves from here.
We tapped into a previous order block but the rejection has been small, I would like to see a strong rejection here/below before we get involved in buys to target the buy-side liquidity above the resistant area marked.
Like a lot of pairings at the moment this did not make a retrace and continued straight to the next support/resistance level. This touched the next TP price I had set but without the retrace I could not enter the trade.
Now the plan is to wait for a retrace as this is very overbought. A retrace to around 0.5 Fibonacci would be good but we need to see the rebound...
This hit my TP yesterday, I now want to see this retrace so we can enter another short. When viewing on the weekly and daily timeframes you will see this has been on a big drop without a retrace and we are now at a support level. This is why I feel it is a good time to secure profits and wait for a better position to short again that will take us past the support....
The Alkaline Team took a trade-off the 4-hour order block after the support breakout, which landed us in smooth profits. We would like to see one final push up to target the liquidity above the resistance, let's see how things go at market open.
A downtrend is likely to reverse now as it is having multiple touches in downtrend and now it touched the weekly trend line and a strong bullish candle is formed in 1H time frame , put a buy limit few pips above the small 1H structure amd then be patient 🙌
Short bias move to a key fib level.
You lot seem to be loving my trades lol, message me on here to let me know how much money you lot made (Y) would be good to see
30 pips SL
60 pips TP - Nice 2:1 ratio. (Well slightly higher than 2, but who's counting ;-)
Have a good trade
I used to waste time, explaining my trades but then people would get them taken down as I self promoted (I've been put on the naughty stairs lmao)
So now, I just publish trades without explaining myself, so good luck trying to figure it out. ;-)
30 pips stop loss.
(This isn't financial advise)
Bouncing off a very strong support level/Demand level, Stochastics is turning bullish and suggesting a reversal.
However, we are in uncertain times with the outcome of the US election to still be determined thus anything can happen.