As explained earlier price has delivered to target and anything after that would be considered bonus...maybe 10 to 20 pips below target but basically i would be out right now. Thanks for playing
With the SMT setup you want to see price push up to the breaker and that gives you the cue to go short targeting the low made before price ran back up or 20pips below it. ICT teaches this way better and im just testing it out here.
Market maker sell model as taught by ICT. There will indeed be several swings on shorter timeframes as central banks eventually drive the price to below 1.16000
Trading with higher time frame in mind is sure way to ensure success. Refer to earlier post in the Wednesday's daily low and note carefully how price traded around it all morning. For me i would be done trading by New York noon so yes my targets would have been met and whatever happens hereon im not interested. Enjoy your weekend and happy trading.
I do not usually trade Mondays and Fridays but do some analysis anyway and use that for study purposes. I'm watching to see the reaction should the $ reach the daily up close low. Since $ is bearish overall...
'Every' trader knows about the top-down analysis approach to trading. Otherwise how would you know what you are aiming for. 'The trend is your friend', it has also been said. I am watching the long term trend of the dollar with interest. Happy trading
Price is not random and neither is it supply and demand. The markets are rigged (against you) and are predetermined. It pays to 'tread' on the right side. Happy trading
Let's play a 'what if' scenario shall we? What if the dollar continues bearish at least for the rest of January? What if fibre were to rally to 1.25325 or 1.27128 or thereabout? What if the scenario pans out? What if? I'm holding my bias tentatively. Tread carefully
Now that we have seen the DXY flirting with the 2018 April Weekly Swing Low my next levels to watch for the rest of the week would be 88.861 and 88.599. I hold my bias despite the events currently unfolding in the contested elections which is making this week a very tricky one to hunt...'Tread' carefully.
Having broken the recent swing low on the Daily will DXY continue to be drawn to liquidity on the down side to April 2018 Weekly Low/Swing Low? I do not usually take trades on a Monday but use it as a basis to map out the rest of the week's direction. I will be bearish on currencies come Tuesday 05 Jan 2021.
