Do your homework, follow the footprints of smart money
Which pairs are you selling and why?
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- #184
- Jun 17, 2018 3:33pm Jun 17, 2018 3:33pm
- Joined Dec 2015 | Status: Trader | 8,759 Posts
Do your homework, follow the footprints of smart money
- #185
- Jun 17, 2018 3:38pm Jun 17, 2018 3:38pm
- Joined Dec 2015 | Status: Trader | 8,759 Posts
Here's why I will look to sell GBPUSD this week.
Recent price action on the H4 time frame is bearing northward, much likely a retracement; but the momentum seems to be weakening. Very much likely a southward turnaround is in the offing. A much likely area of such southward turnaround is a recently broken down horizontal support, which will have to be flipped as resistance. Such an area is the 1.33400/1.34000 zone (bound by horizontal magenta lines). However, this does not mean that the market may not turn southward earlier, given the loss of bullish momentum seen on the H4 time frame.
I may be wrong. Trade safe and prosper.
KP
Recent price action on the H4 time frame is bearing northward, much likely a retracement; but the momentum seems to be weakening. Very much likely a southward turnaround is in the offing. A much likely area of such southward turnaround is a recently broken down horizontal support, which will have to be flipped as resistance. Such an area is the 1.33400/1.34000 zone (bound by horizontal magenta lines). However, this does not mean that the market may not turn southward earlier, given the loss of bullish momentum seen on the H4 time frame.
I may be wrong. Trade safe and prosper.
KP
Do your homework, follow the footprints of smart money
- #187
- Edited 4:35pm Jun 17, 2018 3:47pm | Edited 4:35pm
- Joined Dec 2015 | Status: Trader | 8,759 Posts
Do your homework, follow the footprints of smart money
- #188
- Jun 17, 2018 3:49pm Jun 17, 2018 3:49pm
- Joined Dec 2015 | Status: Trader | 8,759 Posts
I am bearish on EURUSD. Here's why.
In the context of a consolidating market, price action on the H4 time frame is currently bearing northward and respecting an emerging, minor ascending trendline (magenta). However, the candlesticks printed are primarily insignificant in bullish potency compared to the bearish candlesticks preceding them. Thus, we may see a break down of the trendline sooner than later. Such a breakdown is likely to see bears move price action towards the 1.15300 handle.
I will look for a sell trading opportunity if price action breaks down the minor ascending trendline (magenta) on the H4 time frame or gives me a significant bearish setup around the 1.17100/1.17160 area, which adjoins the 50 Fib zone of the recent downward swing on the H4 time frame.
I may be wrong. Trade safe and prosper.
KP
In the context of a consolidating market, price action on the H4 time frame is currently bearing northward and respecting an emerging, minor ascending trendline (magenta). However, the candlesticks printed are primarily insignificant in bullish potency compared to the bearish candlesticks preceding them. Thus, we may see a break down of the trendline sooner than later. Such a breakdown is likely to see bears move price action towards the 1.15300 handle.
I will look for a sell trading opportunity if price action breaks down the minor ascending trendline (magenta) on the H4 time frame or gives me a significant bearish setup around the 1.17100/1.17160 area, which adjoins the 50 Fib zone of the recent downward swing on the H4 time frame.
I may be wrong. Trade safe and prosper.
KP
Do your homework, follow the footprints of smart money
- #190
- Jun 17, 2018 3:59pm Jun 17, 2018 3:59pm
- Joined Dec 2015 | Status: Trader | 8,759 Posts
Do your homework, follow the footprints of smart money
- #193
- Jun 19, 2018 8:45am Jun 19, 2018 8:45am
- Joined Dec 2015 | Status: Trader | 8,759 Posts
Do your homework, follow the footprints of smart money
- #194
- Jun 19, 2018 11:28am Jun 19, 2018 11:28am
Hi mate! The eurusd is one of the pairs I am tracking for a sell trading opportunity this week. Trade safe and prosper. KP {quote}
- #195
- Jun 19, 2018 11:40am Jun 19, 2018 11:40am
- Joined Dec 2015 | Status: Trader | 8,759 Posts
Agreed! I'm a strong believer in pyramiding, given a strong trend and an initial early entry.
Trade safe and prosper.
KP
Trade safe and prosper.
KP
{quote} I will make several entries by dividing lot size. Besides technical/fundamental, i think strategy is also important to manage the capital in our account. Its really an exciting lesson as i have witnessed an achievement from several consistence trader. Also by spreading the risk, its reduce our emotion on trading.
Do your homework, follow the footprints of smart money
- #198
- Edited 7:38am Jun 20, 2018 6:30am | Edited 7:38am
- Joined Dec 2015 | Status: Trader | 8,759 Posts
Do your homework, follow the footprints of smart money
- #199
- Jun 20, 2018 8:42am Jun 20, 2018 8:42am
From my experience, a dilemma as a trader is an entry and exit itself. Although we are an informed trader, the market movement most of the time against us. But i think its not a big deal if we can manage the risk. It is more on how we enter and exit the trade.
Just my opinion
Just my opinion
- #200
- Jun 20, 2018 8:48am Jun 20, 2018 8:48am
- Joined Dec 2015 | Status: Trader | 8,759 Posts
Talking about discretionary rather than mechanical/automated strategy there.
KP
KP
From my experience, a dilemma as a trader is an entry and exit itself. Although we are an informed trader, the market movement most of the time against us. But i think its not a big deal if we can manage the risk. It is more on how we enter and exit the trade. Just my opinion
Do your homework, follow the footprints of smart money