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Trading NZDUSD | Judas Swing Strategy 28/10/2024 Last week highlighted the importance of a risk management plan for all traders using the Judas swing strategy as a case study. The strategy produced two trades on FX:GBPUSD and one on $EURUSD. Despite facing two losses and securing only one win, proper risk management ensured that the single win offset the losses, allowing us to end the week at breakeven. With these results in hand, we were excited to see what the upcoming week would bring. We got to our trading desk at 8:25EST and started our day by demarcating our trading zones. Once we have demarcated our zones, we wait for the high or low of this zone to be swept, as this will assist us in determining our bias for the trading session. After 35 minutes, the high of the zone was swept, indicating that we should look for potential selling opportunities during this trading session. Next on our checklist is to wait for a Break of Structure (BOS) on the sell side. After an hour, we observed a BOS on the sell side, which resulted in a Fair Value Gap (FVG) being formed in the process We must wait for the price to retrace back into the Fair Value Gap (FVG). A trade can only be initiated once price has entered the FVG, and it is crucial to be patient and wait for the price to close before executing any trades. This waiting period acts as a filter to avoid scenarios where the candle entering the FVG proceeds to hit our stop-loss. The next five-minute candle entered the Fair Value Gap and closed, indicating that we can proceed with executing the trade The position experienced a drawdown shortly after the trade was executed, but this did not concern us as we had only risked 1% of our trading account, targeting a 2% gain. Additionally, we implemented a minimum 10 pip stop loss to allow the trade sufficient space to fluctuate without prematurely stopping us out and then proceeding in our anticipated direction. Upon checking the position later, we found it had shifted in our favor. However, we needed to remain composed since it had not yet reached our ultimate target. Our task was simply to be patient and wait for our targets to be achieved Upon reevaluating the position, we noticed that price had returned to the entry point. At such moments, individuals who have risked more than they can afford may start to panic. That's why we continually stress the importance of only risking what you can afford to lose, as it greatly diminishes the emotional investment in trades. We have encountered situations like this before and will likely face them again. However, what remains within our control is the decision to risk only an amount we are comfortable with losing, which in turn lessens the emotional attachment to the trades. 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 13 hours and 25 minutes, our patience was rewarded when our Take Profit (TP) was reached, resulting in a 2% gain on the OANDA:NZDUSD trade
Education
by CleoFinance
A BIG WIN for GOOGLE Congrats 2 those who followed this analysis A BIG WIN for GOOGLE and For You ! I knew that the "Stacked Channel" was the key and that Google would make a decision sooner or later. If we look closely, the price tried to rise several times. However, the key this channel gave us was from October 7th, with that bearish volume candle. Although it was coming down strongly, it didn’t manage to break my stacked channel. This is a very clear signal from the price, telling us: I'm still strong and still in the bullish game. one more detail to conclude is that the price is signaling with wicks that there’s a lot of buying pressure, and it’s not yet for a bear market. Google's only hope was the earnings report, and with an excellent report and very solid numbers, we won big on this analysis! Congratulations if you followed this analysis and entered before the report. As I had mentioned several weeks ago, I’ve always been "Bullish" on Google, and it didn’t disappoint me, either technically or fundamentally. Google remains STRONG ! Thank you for supporting my channel & Congrats to you! Best regards
NASDAQ:GOOGLLong
by RocketMike111
BTC at 70k don't worries me, the real challenge is at this levelBitcoin continues fluctuating below 70k. As we mentioned in last week’s analysis, it doesn’t surprise me that Bitcoin crosses 70k; the real challenge is for BTC to surpass $71,890. If you look at the overall structure, the price made a very significant historic move in MAY and JUNE, which I’ll label as PIVOT 1 and PIVOT 2 (see chart). To me, that area presents a real challenge to surpass because I detect a lot of institutional liquidity there, so we need to stay alert once the price crosses 70k and reaches this level. For now, the price has managed to create two candles with strong buying pressure, so I think Bitcoin will have a few good days, but it will continue to fluctuate below 70k until we see solid buying volume. Thank you for supporting my analysis. TRADE SAFE! Best regards!
COINBASE:BTCUSD
by RocketMike111
Is Palantir in a Danger Zone? We will see after the report... Palantir is about to announce its quarterly report. As we analyzed in the last report, the price reached its highest point after several years, but after reaching this liquidity zone, it had a pullback as we announced before. However, Palantir is showing strength in this area, and we ended on the last candle where it will attempt again to surpass this liquidity zone with strongly. Will it succeed? I believe Palantir has the volume to continue moving a bit higher, but at this point is entering an area where the upward momentum is slowing significantly. On one hand, we’re seeing a double-top forming, and the candle hasn’t fully formed yet. We need to wait and see if the next candle shows liquidity. If so, we should be cautious about the wick length, as that could signal trouble for Palantir. so with the earnings report approaching, there is a lot of uncertainty, which may make it difficult for the price to break this liquidity zone. We should stay alert this November 4th. Palantir has excellent fundamentals, but its recent reports have barely exceeded analysts' expectations. If this report misses even by a small margin, I think we could see a significant drop due to the stock being heavily inflated. Here are Palantir's latest results: Nov 02, 2023 2023 (Q3) Analysts = 0.06 / Reported = 0.07 (BEAT) Feb 05, 2024 2023 (Q4) 0.08 / 0.08 May 06, 2024 2024 (Q1) 0.08 / 0.08 Aug 05, 2024 2024 (Q2) 0.08 / 0.09 Nov 04, 2024 2024 (Q3) 0.09 / (Mon, Nov 4) Thank you for supporting my analysis. TRADE SAFE! Best regards!
NYSE:PLTR
by RocketMike111