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Trading GBPUSD | Judas Swing Strategy 15/10/2024Last week proved challenging for the Judas Swing strategy, with three consecutive losses and no wins, which heightened our anticipation for this week. Will we be able to break this losing streak? We'll soon find out. We typically arrive at our trading desks five minutes before the session starts to delineate our zones and settle into the trading rhythm. After delineating our zones, the next step is to wait for a sweep of a high or low of the trading zone, which will assist us in establishing our bias for the trading session. Forty-five minutes later, price swept the liquidity at the high, indicating that we should look for selling opportunities during this trading session. A few minutes after the high was swept, we observed a Break of Structure (BOS) on the sell side, which was encouraging as we avoid entering trades without analysis, even with a sell bias established for the session. Upon identifying the BOS, the next step is to find a Fair Value Gap (FVG) within the price leg that broke structure. The final step in the entry checklist is to wait for price to pull back into the Fair Value Gap (FVG) and to execute the trade only after the candle that enters the FVG has closed. Shortly after, a candle entered the FVG, indicating that we could execute our trade following the close of the candle. It's crucial to understand that by risking only 1% of our trading account for a potential 2% return, we minimize emotional attachment to the trades since we're only risking what we can afford to lose, and we stand to gain more than we risk. After executing the trade, we experienced a significant drawdown, which is a critical point for those who risk more than they can afford to lose. After a patient wait, the trade has turned around and begun to move in our favor, which is thrilling. However, we must still keep our composure as the objective has not yet been achieved According to our data, we can anticipate being in a position for an average of 11 hours, so the duration of this trade meeting our objective is not a concern; we simply need to remain patient for it to occur. After 15 hours and 20 minutes, our patience was rewarded when our take profit (TP) target was reached, resulting in a 2% gain on a trade where we risked 1%.
Education
by CleoFinance
WILL EIGEN REACH $4 BEFORE END OF OCTOBER? The probability of reaching $4 is very possible. Here are my confluences: - Weekly Low at $3.29 which had liquidity resting just got raided. - Q4 has seasonally been great for Cryptocurrencies over the years so I expect a great end to Q4 for EIGENUSDT. - Price is currently testing the Daily Bullish Order Block which is within the Range Discount Array. - There is more Liquidity resting above current price rather than below current market price. - Targeting price to reach $3.72 , $3.91 and $4 for this Long entry. Trading is risky so always use proper risk management. Happy Trading Pals
Long
by Evaliste
Gold OutlookAs i told in my previous anylisis gold will break its Resistance level and after a retest it will retouch its previous ATH, so exactly gold has broken its Resistance level above, and going to test it 💪, if price sustains over the Resistance and Resistance becomes Support , it will be a potential buy another confluence for being Bullish is we have observed a 1H Bullish morobozou Momentum candle, and price is above its high which is not yet broken , if price Hits its low (not high) then we will be thinking 🤔 about being bearish, another confluence is 50 SMA which also tells us price is in buy Mode on Monthly to weekly to daily to H4 to H1 timeframe, so after seeing these many confluences we will remain bullish on Gold until next move to either side
OANDA:XAUUSDLong
by Wakeel_Saab
EURUSD sellPreviously i was totally buy baised but now as i have observed the pair from weekly to daily to 4H to 1H we are seeing a downward 👇 move in the pair also the confluence is 50 SMA which is above the price also we have a support level down there at 1.0884 price level if price breaks below 👇 we will see a heavy downside move in the pair also the confluence is from H4 to H1 we are experiencing a falling wedge pattern which indicates price will soon fall after break below
Short
by Wakeel_Saab
EUR/USD: Bearish Trend Driven by Diverging Monetary Policies!The EUR/USD continues to face bearish pressure, nearing two-month lows around 1.0890, driven by a strengthening U.S. dollar supported by increased risk aversion and geopolitical tensions in the Middle East. The dollar also benefited from the release of the minutes of the latest Federal Open Market Committee (FOMC) meeting, which revealed that a majority of members supported a monetary easing policy, though without a clear timeline for future rate cuts. The diverging monetary policies between the Federal Reserve and the European Central Bank (ECB) are strongly influencing the exchange rate. While the Fed is leaning towards further rate cuts, with an 84% probability of a 25-basis-point reduction next month, the ECB is more cautious. Despite inflation in the Eurozone falling below the 2% target, the ECB is closely monitoring economic data before taking new measures, leaving the euro vulnerable. The economic weakness in the Eurozone, with stagnant GDP growth, could continue to weigh on the euro, further favoring the dollar, which is in a position of strength thanks to the resilience of the U.S. economy. In conclusion, the EUR/USD is in a bearish context, with a possible break of key support levels that could lead to further declines. Only a recovery above the 1.0996 resistance could reverse the negative trend, but current economic and monetary conditions suggest the dollar will continue to dominate in the short term.
Short
by Forex48_TradingAcademy
1
EURAUD Short Bias – Bearish OB Rejection and Sell-Side EQLTargetEURAUD is currently in a clear downtrend. After sweeping sell-side liquidity at 1.60237, price retraced into a daily bearish order block (OB), which is a high-probability setup. The latest candle has closed within and below the OB, signaling further bearish momentum. Price is displaying a shift from External Range Liquidity (ERL) to Internal Range Liquidity (IRL), with sell-side liquidity and equal lows (EQL) at 1.59973 as the next target.
Short
by INSIDER_INTEL
1