Best FX pair of 2018-2020 making a nice bottom
I think there is a high probability, higher than 20% I am certain, that this pair if it visits the entry area, goes up without going down too much.
It could also go a bit further before reversing, I am giving myself 2 chances on this one but no more if I lose twice I quit.
Here you have the weekly chart:
The spread is 30 points which is not very high, it's not the same as 30 points on EURUSD.
It's a pretty typical bottom (if it ends up being one).
Textbook says to wait for "confirmation" or something I guess?
Something like this?
And not even enter at neckline, they want a "confirmation" candle, they want the price to go past the neckline.
And stop losses are rarely mentionned. At the bottom (great idea), sometimes halfway through.
You don't even get 2R! Forex markets TREND.
TREND = goes in 1 direction MORE than the OTHER. THEREFORE ==> Target MORE than stop loss.
That's how the market is. It works in a high reward to risk way.
It is abstract but it's logical and pretty simple to understand right?
Hey, they want more and more confirmation, so I have a proposal:
Already made a new low as I write this, but hasn't reached the entry level yet.
Let's do this!
It could also go a bit further before reversing, I am giving myself 2 chances on this one but no more if I lose twice I quit.
Here you have the weekly chart:
The spread is 30 points which is not very high, it's not the same as 30 points on EURUSD.
It's a pretty typical bottom (if it ends up being one).
Textbook says to wait for "confirmation" or something I guess?
Something like this?
And not even enter at neckline, they want a "confirmation" candle, they want the price to go past the neckline.
And stop losses are rarely mentionned. At the bottom (great idea), sometimes halfway through.
You don't even get 2R! Forex markets TREND.
TREND = goes in 1 direction MORE than the OTHER. THEREFORE ==> Target MORE than stop loss.
That's how the market is. It works in a high reward to risk way.
It is abstract but it's logical and pretty simple to understand right?
Hey, they want more and more confirmation, so I have a proposal:
Already made a new low as I write this, but hasn't reached the entry level yet.
Let's do this!
Trade active:
Here we go...
Only 2 options now:
☐ REKT
☐ Not REKT
Only 2 options now:
☐ REKT
☐ Not REKT
Comment:
Idk what it's doing. Bulls trying to take over.
Might be worth having an entry at the low.
Why does it always have to be complicated?
I guess that's good, filters out the competition.
Sudden drop and someone bought up very rapidly
There are big buyers just waiting for the price to enter their buy zone.
Or can this just be sucker day traders buying when they see the price move down fast? XD
Probably whales buying imo. I am not alone stalking prey in these bushes.
Lmao there's an army of predators hiding in the bush looking at the prey, it's crowded, and they even just leaped out then back in pretended to not be here.
That's what I think.
Might be worth having an entry at the low.
Why does it always have to be complicated?
I guess that's good, filters out the competition.
Sudden drop and someone bought up very rapidly
There are big buyers just waiting for the price to enter their buy zone.
Or can this just be sucker day traders buying when they see the price move down fast? XD
Probably whales buying imo. I am not alone stalking prey in these bushes.
Lmao there's an army of predators hiding in the bush looking at the prey, it's crowded, and they even just leaped out then back in pretended to not be here.
That's what I think.
Trade active:
Here we go again
AUDUSD not the same PA but similar top/bottom and looking pretty nice, with bulls trapped after buying the triangle breakout.