EURUSD What is with Asian session? It’s always a sell off, always.. Do they know how to buy?! 🤦♂️ Asian session comes and they wipe everything rest of the world did 🤔
EURUSD I am seeing my trading signal or favorite price action set-up the "Mother Bar". Going to just layout how I am seeing the market.
- We have built up (accumulated) at the daily demand zone, leading to a breakout of said accumulation.
- This breakout encountered resistance at 1.06057, which is also the halfway point of the breaker bar. (This is the midpoint of the bar that broke the previous swing low for this timeframe.)
- Price then dropped back to the demand zone that broke through the accumulation ceiling, and we are now at the 50% mark again, with a mother bar setup in place.
Summary: If we exceed the 50% level on a breakout from this mother bar pattern, I plan to add long positions targeting 1.06546 (1.065), provided the candle spread aligns with the volume. Conversely, if we experience a false breakout above the inside bar or mother bar's high and the price drops below the MBL, I would consider joining the trend with a sell on close strategy, again ensuring the body spread corresponds with the volume. Remember, this isn't a trading signal; it's an explanation of how to handle mother bar setups. There are many of these setups available, and you can benefit from them across all time frames.
Going to let the charts marinate since I have 4 hours before I need to look here again.
EURUSD This type of price action is why I don't swing trade. We all have different strategies, but personally I make more from setting my take profit than I do from trailing stops.
We are currently in a bear flag, I like to call it a bear foot because it starts at the heel and ends at the toe.