This showcases is of the different types of market conditions and a closer look into the ranging and downtrending markets. I show what an entry off of a support bounce looks like and what is a distribution phase and what to look for in downtrends. Let me know your thoughts in the comment section
Price is back in the trading range highlighted between the blue lines. The double top and alt-ABCD pattern gave signals of a bear trend that is shown now. Price is approaching significant lows and if price breaks those levels then it is probable that price will continue bearish and my current bias for EURUSD is bearish.
Here is one setup I marked up using trend lines, support and resistance levels and zones, and harmonic levels or fibonacci retracement and extension levels. I use these techniques to build a case for an entry.
Extract from entry notes: "notes: this is my last trade today. One of the goals is to execute my trading plan without regards of being right about the outcome of the trade. This is approached as a habit, meaning with more application it will become easier for me to do. I am comfortable trading live and my mind is very focused on my goals which is the best place...
I have a bearish bias based on the trend, market structure, harmonic pattern and support and resistance levels. I am open to a change in bias if price presents a change in direction, however, price is showing me that it will continue down this week and next. Let me know your bias on AUDUSD !
This short position is from the parameters of my pullback/reversal strategy. The notes I have taken I will share with you guys in the hopes of learning from others, teaching and helping others. Let me know your own experiences and thoughts in the comments.
This is a support bounce trade with 2 confirmations. I am targeting the 100 SMA with a 2:1 reward to risk ratio. This is a pullback/reversal trade.
Here is my analysis on EURUSD marked up today. Any questions feel free to ask in the comments or private message
This is a hindsight markup, showcasing a great trading opportunity with an entry confirmation of an esr.
USD Currency showing strength and gave two good moves on USDJPY and USDCHF (the pairs I am watching). What is your thoughts on this move and did you enter a position?
I am backtesting setups but what I am specifically looking for is similarites in the formations of my setups. It is very easy to hindsight trade and leave your trading desk happy but it is about having setups that you can see in real-time markets. The habit of hidsight trading 'with no intent of real-time application' is one you must break through mindset...
This setup shows a support bounce long position. I saw a gartley but missed on the execution and was able to get in long on the confirmation of a support bounce setup. This is a backtesting session using bar by bar replay on EURUSD
Today I am backtesting trades on EURUSD to further improve my strategy and my ability to apply my strategy. It is important to keep your tools, and mind, sharp so that you can execute your trades in a live market that has major market players, news events, volatility, liquidity with experienced traders with high end technology with a high end education trading...
I am doing a late back testing session and wanted to share this setup. This is a reversal trade with a 100 SMA candle crossover and engulfing pattern entry. This trade is a 5 RRR wins / 100 pips. Any questions about this trade or my strategy ask me.
Price is approaching structure high on the 1hr chart where a reversal or breakout can happen. I am watching this level and price action
EU position long because of a resistance break with a pin bar candle bullish. My exit was at a resistance level where a potential reversal could happen.
Bullish bat pattern indicating a bull move that will reach previous levels of resistance.
I entered long and I am targeting the previous structure with a stop loss below a low. Price crossed the 100SMA and I believe price will reach resistance at the previous highs