Trading EURUSD | Judas Swing Strategy 24/04/2024
At 8:45 AM EST EURUSD made a big move down that took out the Judas Swing Zone Low. Then it came straight back up to create a BOS(break of structure).
After the liquidity grab at the low and the subsequent break of structure (BOS), we patiently awaited a retracement towards the initial Fair Value Gap (FVG) that emerged during the displacement leg.
We then waited for price to retrace, filling or touching the created Fair Value Gap (FVG), and only executed our trade once the candle that touched or entered the FVG had closed.
After executing the trade, price initially moved favourably in our direction. However, it later took a turn towards our stop loss. Despite this, we maintained confidence in our strategy, given its extensive backtesting, which has demonstrated a win rate of 52.78% on EURUSD.
Despite being in a drawdown at this point, we remained steadfast in our approach. Having accepted the calculated risk of only 1% of our account for a potential 2% gain, we were unfazed by the proximity of price to our stop loss, and maintained our trust in the strategy.
Price eventually reversed and paused briefly around our entry point before resuming its favourable movement. We remained unperturbed by the duration of the trade, as our strategy data indicates an average trade duration of 8 hours and 27 minutes.
We patiently waited, and our persistence paid off when our target was finally reached, securing a 2% gain on the trade where we had risked 1%
After the liquidity grab at the low and the subsequent break of structure (BOS), we patiently awaited a retracement towards the initial Fair Value Gap (FVG) that emerged during the displacement leg.
We then waited for price to retrace, filling or touching the created Fair Value Gap (FVG), and only executed our trade once the candle that touched or entered the FVG had closed.
After executing the trade, price initially moved favourably in our direction. However, it later took a turn towards our stop loss. Despite this, we maintained confidence in our strategy, given its extensive backtesting, which has demonstrated a win rate of 52.78% on EURUSD.
Despite being in a drawdown at this point, we remained steadfast in our approach. Having accepted the calculated risk of only 1% of our account for a potential 2% gain, we were unfazed by the proximity of price to our stop loss, and maintained our trust in the strategy.
Price eventually reversed and paused briefly around our entry point before resuming its favourable movement. We remained unperturbed by the duration of the trade, as our strategy data indicates an average trade duration of 8 hours and 27 minutes.
We patiently waited, and our persistence paid off when our target was finally reached, securing a 2% gain on the trade where we had risked 1%
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