Last friday we entered a sell trade on EURUSD which unfortunately got taken out at breakeven and we missed 1:7 Risk Reward Setup. Check out the idea posted on friday in tradingview
However, there are no regrets and certainly no revenge trading. There are many opportunities in the market every day.
Today as we analyse EURUSD, we find an interesting area where we could possibly sell from. Range: 1.01341 - 1.01565. Why we are looking to sell here?
Few resons:
Volume shows that a lot of sell orders were taken there by perhaps the instituions or Banks. They may look to mitigate few buy orders there before taking the price further down. We may look to enter during that mitigation if it happens. Also, the chunks of orders created a BOS too.