TradingView
UnknownUnicorn3197506
Sep 25, 2020 10:12 AM

EURAUD structure trade Short

Euro Fx/Australian DollarFXCM

Description

Lots of confirmation for shorting opportunity on EA 60 min timeframe. Detailed notes on the chart
Comments
sandeepnmankotia22
r u sure its gonna fall
UnknownUnicorn3197506
@sandeepnmankotia22, Hey thanks for your comment. No I am not sure if it's going to trade lower.

Basic trading principle what I have learned is that never be sure about any setup, we never gonna know for sure if price is going to trade higher or lower. If some people say they are sure about that price will trade a certain direction they will use too much risk on position size and they will eventually blow out their account. Market will do what ever it wants whenever it wants, and our job as a traders is to make predictions with proper risk management.

You can be more sure about trading setup when you have detailed trading rules you have backtested them with enough data and then you will know does your trading strategy have a positive edge in long term. This will give you more trust that when you execute that trading plan you should make profit in long term, but still you can't be sure about any specific trade or even actually be 100% sure that future trading will be same as your backtested data
sandeepnmankotia22
wht your bias on euraud sell or buy .??
More