First post in a long while about forex, I am just gonna say I think this is a high risk trade but a VERY tight SL has been set here, willing to lose this money but its just a quick scalp.
couple of reasons for taking this trade, RSI is reaching over bought level singling a short term cool off maybe drop down to previous support. we have broken out of my formation here which is why this trade is high risk but I think to see such a violent move up with no pullbacks is not healthy.
I also see a lot of swing failure patterns in forex, like they know we are all watching the same formation and there will be many people waiting on a retest of this level to go long so a huge wick up catches all of the liquidity and then drops price to catch the trader out.
we will see how this goes, I am 100x more confident with Ethereum but I want to get better everyday so lets try forex for a while see how my analysis goes here.
couple of reasons for taking this trade, RSI is reaching over bought level singling a short term cool off maybe drop down to previous support. we have broken out of my formation here which is why this trade is high risk but I think to see such a violent move up with no pullbacks is not healthy.
I also see a lot of swing failure patterns in forex, like they know we are all watching the same formation and there will be many people waiting on a retest of this level to go long so a huge wick up catches all of the liquidity and then drops price to catch the trader out.
we will see how this goes, I am 100x more confident with Ethereum but I want to get better everyday so lets try forex for a while see how my analysis goes here.
