EURUSD only

What is true for you may or may not be true for someone else.

Cheers, Mate.

M15: If any candle closes back below 1.1601, I switch to selling!

M15: as mentioned, I am back to selling..

Explain please

Considering equal high liquidity above swing high I'm using 1.15575 as significant market structure for a bearish move. Entering short after confirmation with candle closure below this level on 1hr timeframe.

Sure... but first... you must understand the weekly story:

1. On weekly chart below, the long term bull trend actually shifted to bearish with a deep drop. That way, 1.1622 area became breakout level and main resistance.
2. BUT, banks soon started their classic shenanigans and created a fake rise as if the drop never happened. Many were tricked that price will continue higher. Meanwhile banks were simply just getting rid of all their excess Euros. Selling it to the masses.
3. Then, not soon after, of course candles dropped back below the breakout level 1.1622. Easy gains for banks. Many left holding Euros but banks were adding more sales. They even did the same trick a little milder 3 weeks ago and sold high again 2 weeks ago.
4. Right now, they are probably locking new traders into the game with help of Iran peace deal. But pay attention: we are clearly below 1.1622... This is different.. It is highly likely that they are now cooking a sell off under the hood.

That said.. now coming back to M15... I said what I said... I switched to selling as long as we are below 1.1601... Because weekly candle is below 1.1622.. So.. as a result: even if I see bullish spikes on M15, I can now assume that they will fade out around 1.1622.. Am I sure? Of course not but these are the better odds. Having the weekly as resistance helper is great while trying to sell on smaller timeframes. To keep it simple: I keep my bearish bias as long as H1 and M15 candles open below 1.1622..

I hope it explains simply..

EURUSD monthly CRT, till the CRT low is cleared bearish ways.

M15: rinse and repeat...

I'm sharing the idea I have with you.
GOOD LUCK!!!

Well, things went as I expected.

1- Of course, my friend, I agree with you, and your words are very logical.

2- But what I did today was just a very small act of discipline.

3- As you said, my friend, this profession requires experience, and experience requires time.

4- Currently, I am preparing to trade with a large sum, and I must make sure that my mindset and discipline are ready for something like this. <Under testing>

5- But my indicators tell me I should wait a few months before trading with large sums.

6- Currently, I am trading with small sums.

7- Thank you for your concern, my brother. I wish you all the best.

8- My brother Atta, please forgive me for going off-topic, but I wanted to talk about this since we are approaching the market close.