Smartmoneyconcepts
EUR-USD Long From Support! Buy!
Hello,Traders!
EUR-USD has been making wild
Moves on the elections news
But now it seems that almost
All the fight went out of the pair
At least for now so after the price
Retests the horizontal support
Below at 1.0665 we will be
Expecting a local bullish rebound
Buy!
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Trading NZDUSD | Judas Swing Strategy 05/11/2024Last week concluded with a 3% gain using the Judas Swing strategy, which yielded three trades in total: two on EURUSD and one on NZDUSD. The EURUSD trades resulted in one win and one loss, while the NZDUSD trade closed with a win. These results have set the stage for a thrilling week ahead in the markets, and we can't wait to see what unfolds! As usual, we arrived at the trading desk at 8:25 EST to delineate our trading zones.
Once these zones have been marked we need to wait for the high or low of this zone to be swept, this step is essential to help us get a bias for the trading session. After 40 minutes, the liquidity at the high of the zone was swept, indicating that we should look for potential selling opportunities in this session.
While we may lean toward a sell this session, we hold back from entering until we see a clear structure break on the sell side. During this shift, price should create a Fair Value Gap, giving us an optimal entry point to step into the trade. After an hour's wait, we finally got a Break of Structure on the sell side, which also resulted in a Fair Value Gap being created.
To fulfill all the entry criteria on our checklist, we must wait for price to retrace into the Fair Value Gap that has formed, and we can only execute the trade once the candlestick has closed. After 10 minutes a candle entered the Fair Value Gap, indicating that upon its closure, we may proceed with executing the trade.
By risking just 1% of our account for a potential 2% gain, we reduce emotional attachment, knowing the loss is manageable, while positioning ourselves for greater rewards. Shortly after entering, the trade went into a drawdown; however, since we had risked an amount we were comfortable with losing, the current state of the trade did not move us.
Upon reviewing the position after some time, we noticed that the trade had started moving in our favor, although it hadn't moved much from the entry price. Given the average trade duration of around 11 hours for the strategy, there’s no rush, we simply need to wait for the setup to deliver as expected.
While the trade didn't reach our desired outcome and we took a 1% loss after the stop loss was hit, we remained unaffected because we were fully prepared for this potential outcome.
GBP-NZD Potential Long! Buy!
Hello,Traders!
GBP-NZD is trading in an
Uptrend along the rising
Support line from where
We are already seeing a
Bullish rebound so we are
Bullish biased and we will
Be expecting a further
Bullish move up
Buy!
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CRUDE OIL RISKY SHORT|
✅CRUDE OIL will be retesting a resistance level soon at 72.50$
From where I am expecting a bearish reaction
With the price going down but we need
To wait for a reversal pattern to form
Before entering the trade, so that we
Get a higher success probability of the trade
SHORT🔥
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NZD-CHF Bearish Bias! Sell!
Hello,Traders!
NZD-CHF is trading in a
Downtrend and the pair
Is making a pullback from
The horizontal resistance
Of 0.5200 while trading
In a downtrend so we are
Bearish biased and we
Will be expecting a
Further move down
Sell!
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CHF-JPY Will Go UP! Buy!
Hello,Traders!
CHF-JPY is trading in an
Uptrend and the pair is
Making a bullish rebound
From the horizontal support
Of 175.500 so we are bullish
Biased and we will be expecting
A further move up
Buy!
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