EURUSD Still Bullish.. [Let me explain]
Updated
Hey Traders
#EURUSD
The chart is pretty self-explanatory. But let's break it down further:
First: Why do we see a bullish EU?
- As you can see we are in a bullish trend, (obviously)
- Everyone is selling... (Phycological), People are saying we have a break of structure, but we are technically just liquidating...
- If you have been trading for a while, you definitely see this pattern often ( I don't know patterns and what they're called.. etc. but I researched it up so you guys can research it up as well)
- News on Friday! I know Friday is far (8th of Dec), but what forecasts say are usually just banks tryna get people to go think in a certain way. We have a forecast indicating a bullish DXY. This means people will be more focused on selling EU this week. This means more liquidity for banks!
Second: Phycology part? We have all heard that trading is 90% psychology, and it's true!
- I want you to go look at the ideas on Tradingview right now. You will find 80% saying bearish! Don't forget that only 10% of Forex traders are profitable! So if they're all right. Who's gonna liquidate?
And always remember, Trend lines are meant to be broken! But breaking them doesn't mean we are changing trends (Sometimes just liquidity grabs). And candles take the stairs up and the elevator down!
I'm in a LONG on EU from 1.08607 targeting 1.09503. Safe trade with no risk since my SL is at BE already!
Many people might disagree with the psychology part, but I've been through 3 years of live market and seen this and that.
Good luck everyone
Trade safe with risk management
#EURUSD
The chart is pretty self-explanatory. But let's break it down further:
First: Why do we see a bullish EU?
- As you can see we are in a bullish trend, (obviously)
- Everyone is selling... (Phycological), People are saying we have a break of structure, but we are technically just liquidating...
- If you have been trading for a while, you definitely see this pattern often ( I don't know patterns and what they're called.. etc. but I researched it up so you guys can research it up as well)
- News on Friday! I know Friday is far (8th of Dec), but what forecasts say are usually just banks tryna get people to go think in a certain way. We have a forecast indicating a bullish DXY. This means people will be more focused on selling EU this week. This means more liquidity for banks!
Second: Phycology part? We have all heard that trading is 90% psychology, and it's true!
- I want you to go look at the ideas on Tradingview right now. You will find 80% saying bearish! Don't forget that only 10% of Forex traders are profitable! So if they're all right. Who's gonna liquidate?
And always remember, Trend lines are meant to be broken! But breaking them doesn't mean we are changing trends (Sometimes just liquidity grabs). And candles take the stairs up and the elevator down!
I'm in a LONG on EU from 1.08607 targeting 1.09503. Safe trade with no risk since my SL is at BE already!
Many people might disagree with the psychology part, but I've been through 3 years of live market and seen this and that.
Good luck everyone
Trade safe with risk management
Note
Quick update, my SL got hit at BE. Then we bounced up, I missed one note!On the daily, we have a huge wick, if you do Fib at 0.5, that's usually where it will boucne. I did not see that and i got another entry almost at the same price of 1.08650. Time to move up!
Note
DXY being slowww and annoying. Loading up the move for the NY session i guessTrade closed: stop reached
BE reached again. I was wrong, but i lost nothing because of BE.We win some, we lose some so it's okay
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