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EURNZD: Potential Bounce from Key Resistance ZoneOANDA:EURNZD is approaching a significant resistance zone, marked by prior price rejections and strong selling pressure in the past. The current market structure indicates the potential for a reversal at this level if sellers regain control. This resistance zone aligns with a critical supply area where price has shown hesitation before. If the price confirms rejection with bearish patterns such as wicks or bearish engulfing candles, I anticipate a move downward toward the 1.83972 level. Let me know your thoughts on this analysis or if you have a different perspective!
Short
by DanieIM
Trading AUDUSD | Judas Swing Strategy 15/01/2025Yesterday, we had an awesome trading session using the Judas swing strategy. We entered a trade on AUDUSD and secured a 2% gain! As is customary, at 8:25 AM EST, we commenced the day by reviewing the essential items on our Judas Swing strategy checklist, which comprises: - Setting the timezone to New York time - Confirming we're on the 5-minute timeframe - Marking the trading period from 00:00 - 08:30 - Identifying the high and low of the zone Once we’ve covered the basics on our checklist, the next step is to identify a sweep of liquidity on either side of the zones we’ve marked. For this trade, we observed a sweep of liquidity above the high of the zone, signaling a potential opportunity to focus on selling setups for this trading session. To avoid getting ahead of ourselves, we patiently wait for a break of structure to the sell side as additional confirmation of our sell bias. Notice how we didn’t rush into the trade, despite having a bias for the session. Instead, we chose to wait for the market to validate our bias. After some time, the break of structure to the sell side occurred, leaving behind a FVG, further supporting our analysis The next 5 minute candle retraced to fill the FVG left behind, completing all the requirements on our entry checklist. With our criteria met, we executed the trade, risking 1% of our trading account in pursuit of a 2% return After executing the trade, we encountered minimal drawdown as it quickly began moving in our intended direction. From that point, all that was left was to patiently wait for the trade to reach our objective and secure the 2% return Our patience paid off with this AUDUSD trade, as our take-profit target was hit after just 1 hour and 20 minutes in the trade. This reinforces the importance of sticking to your plan and trusting the process—discipline and patience are key to long-term trading success
by CleoFinance