I am back. I intend to share some of my trades on EURUSD here, daily. These trades should show how I believe the market is to be traded, with minimum risk. ENJOY!!!
The idea behind the trades is based off of the liquidity theory. The most typical case is shown below where London opens and clears either High or Low of the pre-open session, then it moves in the opposite direction. The clearance of the High or Low is our primary trigger that the market may reverse off this level. We await a confirmation of this bias, then we enter the trade, until the market gives us a reason to close the trade... Or if it hits the Take profit.
Well, this is what happened, but as you can see, with a SL of 5pips, even 7, you are not that affected. I had moved my SL to 2pips. My mistake.
The idea behind the trades is based off of the liquidity theory. The most typical case is shown below where London opens and clears either High or Low of the pre-open session, then it moves in the opposite direction. The clearance of the High or Low is our primary trigger that the market may reverse off this level. We await a confirmation of this bias, then we enter the trade, until the market gives us a reason to close the trade... Or if it hits the Take profit.
Well, this is what happened, but as you can see, with a SL of 5pips, even 7, you are not that affected. I had moved my SL to 2pips. My mistake.
Attached Image(s) (click to enlarge)
Blood, Sweat, and PIPS.