Trying to day trade forex but scared!!
next time i will target a 10% profit for the sake of performance when am short selling..
this is my niche Forex is now my asset class shoutout to the stock traders but this is my asset..its forex trading..keep this profit percentage at 20%
30M CHART FLIPPED LONG new settings
FLIPPED ON THE 1 HR and never went fully green. Stopped out. 2HR & 4HR still RED
Entry comments: With a move past previous days highs to the high of 22/10 would reach ADR, entice breakout traders long and exhaust the juice to go up further. A high probability trade with the chance of happening. Goes against CAD correleation, but a 30 pip further move up from current prices as at London open is needed to achieve this which can be done.
Entry comments: The move of 19/10 making me see the risk on this short being great is a stophunt, off which prices moved rapidly. Max risk is .93540 or .93470 - if not lower with due to ADR is being reached at both these levels. With regards to the continuation up after liq. already being trapped on 24/10, did price ever accumulate to release enough to move up that much? The HH/HL trap is what I can see atm, to reverse the market. Then accumulation to come up later is another story.
Entry comments: With price not being at its high or not being post an exponential move, it can move with volatility to both sides so the risk is much greater. That's where the unconfidence on EURCAD comes from also. After the liq. trapped on 24/10, prices could continue to move up, but the share has been made by hitting the stops of any shorts already. This wouldn't line up with USDCAD's trap move of the 26/10 either. Break of .92912 could see prices down. Not enough juice to take prices higher?
Entry comments: The move of 19/10 making me see the risk on this short being great is a stophunt, off which prices moved rapidly. Max risk is .93540 or .93470 - if not lower with due to ADR is being reached at both these levels. With regards to the continuation up after liq. already being trapped on 24/10, did price ever accumulate to release enough to move up that much? The HH/HL trap is what I can see atm, to reverse the market. Then accumulation to come up later is another story.
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