EURAUD The price has cut the level so hard today! No price action, no enter in the trade.
Note how a range market has formed, and our level is median level. Buyers and sellers are fighting for the price, let's see who will win. My sentiment is that sellers will win, since they have the power of the trend to their part. But we don't trade sentiments.. so, let's sit and see.
AUDNZD: Price tried to break the R at 1.07768.. Then got back in and, after a RET, we had a nice bearish PB in January.. My strategy and plan will be to wait for a RET+PA in the "Supply zone" in the D timeframe, OR if i will not have a reaction there, i'll wait for a PA at the level.
Attached Image (click to enlarge)
Obviously the target is the low of the bullish candle before the pinbar
Ehy fxgroup, you're right. I was just going to write an update here and i found your comment!
I evaluated to close my USDPLN trade, even if it was losing. Considering the trade i just did on GBPNOK , i made a slight profit overall. So overall i'm satisfied, but i'm really "angry", or to better say, "frustrated" for the USDPLN trade.
Here is a new graph of the same pair.. There's a strong zone ABOVE the daily Rm you were talking about.
The easiest plan i could follow was to wait for the price to break above, retest and wait for a D PA on the level, then wait for the price to reach the R.
But i've choosen the most risky path, and lost money, because i could not see this simple solution to make profit. Sometimes it is frustrating to see things clearly just with the "cold mind", this is an aspect of my trading i MUST work on, or i will never be a better trader.