So for those selected few whom seen my post on this pair and took the trade.. good for you! Unfortunately I did take my own trade. Why.? Cuz I see the market as they see it thus I see moves all the time to the point I can’t keep up. So I decided only to trade a selective pairs unless it get too juicy and I want in..
I decided to revisit this pair for y’all again for two reasons
Is there still room to sell here. Yes and no! It depends on your goals and account if your at the point where size beats pips than yes If not I suggest not to sell.
So on the weekly we have a railroad pattern, this is a reversal patten and we can expect price to retrace back to where it start . But from the overall structure of this pair this move downward is merely a correction from exhaustion. Thus there a need for more sellers to push long positions. So a sell is needed to convince trader to chase the sell. As of now it’s chasing the market to enter unless you understand the motive and can act accordingly.
So if we decide to get in this sell how do we, where do we and how do we exit.
1. Firstly we don’t just sell, we wait for buyer failure pattens and we sell into their stop loss
2. We wait for price to be rejected by the ma. As the momentum is bearish.
What this look like?
Bullish strength on the 1hr followed by exhaustion All with weak momentum . Then we enter the sell.
Where do we tp at.?
We go back to the weekly fib the wave and we notice the .5 is respected. Thus this is our exit area As price will react here and may be our enter area for the continuation of trend! In which I’m interested in
Giving you accurate knowledge
HOW TO TRADE LIKE THEM-
I decided to revisit this pair for y’all again for two reasons
Is there still room to sell here. Yes and no! It depends on your goals and account if your at the point where size beats pips than yes If not I suggest not to sell.
So on the weekly we have a railroad pattern, this is a reversal patten and we can expect price to retrace back to where it start . But from the overall structure of this pair this move downward is merely a correction from exhaustion. Thus there a need for more sellers to push long positions. So a sell is needed to convince trader to chase the sell. As of now it’s chasing the market to enter unless you understand the motive and can act accordingly.
So if we decide to get in this sell how do we, where do we and how do we exit.
1. Firstly we don’t just sell, we wait for buyer failure pattens and we sell into their stop loss
2. We wait for price to be rejected by the ma. As the momentum is bearish.
What this look like?
Bullish strength on the 1hr followed by exhaustion All with weak momentum . Then we enter the sell.
Where do we tp at.?
We go back to the weekly fib the wave and we notice the .5 is respected. Thus this is our exit area As price will react here and may be our enter area for the continuation of trend! In which I’m interested in
Giving you accurate knowledge
HOW TO TRADE LIKE THEM-