DONT SWIM AGAINST THE CURRENTTHIS IS INSANE - Technically speaking the market in general is in a downtrend. a recession or correction. it should not matter. what is insane is am taking a Long trade on such a downtrend market. As any trading Guru would say " dont swim against the Current " dont trade against the trend. But I did. well I make exceptions. let me explain.
The Long-term(M) is in a downtrend. the price is coming strongly overselling into a fresh DZ. I set my ENTR at 27.xx with STP-LOSS below the DZ; small risk with plenty room for profit to run. my risk to reward ratio adds up. I always calculate my estimates Rs (risk) before I calculate my estimated Rw (Reward)
When price enters the DZ: there are three possible outcomes;
- Trend Reversal - The DZ will hold & trend changes. Big win & small Loss
- Correction - The DZ will hold for sometime, giving small win and small Loss
- Breakthrough - The DZ does not hold at all, giving a small loss; I am OK taking that small loss; it is within my trade plan
What I was looking for was a correction, happy to take this small Long profit in such a downtrend market. to do this type of trade & swim against the current one much be very vigilant; tight STP loss is key.
What I did here, price entered the DZ, the correction began; I covered 1/2 of my position; I took $3 of each share, & let the rest (other 1/2) run; sadly but predictably, the correction lost momentum in a heavily bearish market. I readjusted my STP LOSS to exit trade at breaking even.
Supplyanddemandanalysics
Short EURUSD despite strong support!Long-term trend is strongly bearish.
Mid-term trend is almost bearish
We are at overbought half of the mid term bearish linear regression channel!
A strong Bearish candle indicate presence of strong sellers
There might be another Bearish move
Regarding to 3 RtoR this trade is rational.
Don't forget about Risk and Money management.
Entry Model | Supply and Demand, and Smart Money ConceptFirst look for the higher timeframe trend is the price making higher highs and higher lows? (For bullish market) or lower highs and lower lows? (For bearish market) bullish or bearish, then go to the lower timeframe and see if the lower timeframe trend matches the higher timeframe trend. After that mark your supply and demand zones, and point of interest(POI). If you guys like this post please hit like👍 and follow. Thanks.
Usdcad short term + Technical analysicsUsdcad short term + Technical analysics
supply and demand
elliotwave
wychoff
orderblock
all are involve.
If you are using $1000 .just use $1 for per trade.Use your target 100 pip or more
if you are using $2000.Just use $2 for per trade.use you target 100 pip or more
if you are using $5000 .Just use $5 for per trade.