I love when these kind of setup is forming. I really do! It is a kind of setup that tells me to just wait for the right moment to enter to the market. All I have to do now is to switch my predator instinct on, wait for the perfect moment when prey is near and BAM! take it down, kill it and eat it!
Have you ever hunt before? Do you know how to hunt? it’s required great skills and knowledge to observe, track down, and finally kills your prey…
Sorry if I sounds like some barbaric tribes or some lose animal but it is the truth about the trading world. Any trading products like forex, commodities, stocks, indexes, anything is all about taking down the other guy on the other side.
Ok, now let’s get back to today topic;
Confirmed trend changing on major pairs… But now I will talk about EURUSD.
On weekly time frame, price is rejected by confluences of resistances such as monthly R1, past support and resistances, fibonacci level and 200 MA. Price is currently heading south with confirmation by my MA’s studies.
I, personally will wait for the retrace. Looking for some high possibility of resistance area, waiting for price actions, and then go if I have all the signals lining up. Most of the time, we can get these signals at around European session.
Stay tuned for other insight and safe trade…
Latest posts by admin (see all)
- Average True Range Indicator: Using it Profitably - August 15, 2017
- The Power of Divergence: How to Predict the Future - August 14, 2017
- Forex Video: Trailing Stop or Hard Take Profit? - August 11, 2017
Winner’s Edge Trading, as seen on: