DislikedI am a supply demand trader based on my understanding of Sam Seiden's explanation from OLT.
I have just set my trade to buy 10,000 EURUSD at 1.22348 with a stop loss of 1.21963.
My account size is $3500 so I am at risk for $38 about 1%. I trade with 50:1 leverage.
My target is 1.2602 over the next 3 trading days with intent to make decision on the trade at noon on Friday as toi whether I hold over or close.
I think traders are putting in a bottom over the last 3 months that will trade betweeen the low of today 1.2235 to 1.2600 1.2700 for...Ignored
And agreewith your assessment, rr is definitely long from these supports, tech wise, but not fundy wise, thie is a conundrum
In reality you is try to pick a bottom, and kudos bro, I do opposite for tops, however, it is still a major down trend, and I see nothing unusual with the supports reaction so far, but I do not see any reversal patterns forming as yet 4hr and above, this will take time, and personally if it does start to form a reversal pattern, then and there will be a lovely medium to long term trade and the will be plenty of opportunities to get nice entries and build a position and a lot safer than just now.
But Im still a bear, they have poked thier noses into pretty strong bull territory, and thus far looking quite good,
I will keep selling rallies until proven otherwise
Ladies have been doing quite well lately for me, etc bloody geppy, as explained last night there was a bs passive interventions, and market got bashed as usual, and in recovery mode, was expected but still pisses off presently she has built equlateral triangle 1hr (normally 50/50) and very squeezed, she still below the 1hr falling tl and bearflag, my calculation if boj is do another passive poke, and timewise is ripe with market flat, and she breaches the falling tl it could be a pretty nasy pop, but if they dont, she will fall with grace man yoda must be pulling hes hair out, oooops he already has
Time will tell
If you are new to Forex? Say Goodbye to your account!!