EURUSD What a delightful week, and not in the way you'd hope, haha.
I bought in at 1.09484 yesterday... what a headache that turned out to be. Usually, I'd just cut my losses, but it dropped so fast I though (Panic selling). I had a feeling it would at least bounce back to break even...
Moving on to the next opportunity. Just a friendly reminder: never let a trade run wild or add to a losing position. I'm cashing out my eight bucks and calling it a day. Sure, I could keep going, but that's up to you all. Catch you tomorrow! Sometimes, it's just nice to walk away with a clean slate after a botched heist!
EURUSD Alright guys, the market has spoken, and finally I can post on minds again after the limit.
Some have indicated that price action was very messy yesterday. We can actually reconcile this by taking a bird's eye view on things:
Based on HTF analysis (ie 4h and up), we have commenced a retracement. This is especially so after a second bearish candle body close following the previous candle with a long wick.
With price flirting near the PDL, the odds are stacked to price favouring the daily demand OB below for a short term full retracement, moving through the 1h FVG. Of course if price penetrates through this daily demand OB, we could potentially retracement even lower, aligning with the weekly perspective of things.
Let's just take things one step at a time - next logical target would be the daily demand OB. As always, sell high and buy low - wait for price to retrace to a more favourable price on the LTF before shorting this down.