I opted to enter for short on this pair. Stop-loss orders have their place, and I trusted my eyes more than my heart.
Short Bias for the upcoming week.
- ---------------
**First Scenario - Short:**
First Target: $1.0825
First Target: $1.0805
Entry: $1.0851
Stoploss: $1.0854
**Second Scenario - Long:**
Initial Target: $1.089
Entry: $1.0854
Stoploss: $1.0844
- ---------------
Take into consideration:
Psychological Resistance at $1.086
Psychological Support at $1.08
- ---------------
NFA
DYOR
- ---------------
Good Luck!
⚠️Caution: Just because I've set my buy and sell position Settings or drawn direction lines on my chart doesn't indicate I've opened a position or am obsessed with a particular bias. This is only a forecast; I don't trade when the price reaches my level; I have rules of engagement. Perhaps the most crucial element is 🆘RISK MANAGEMENT🆘.
Short Bias for the upcoming week.
- ---------------
**First Scenario - Short:**
First Target: $1.0825
First Target: $1.0805
Entry: $1.0851
Stoploss: $1.0854
**Second Scenario - Long:**
Initial Target: $1.089
Entry: $1.0854
Stoploss: $1.0844
- ---------------
Take into consideration:
Psychological Resistance at $1.086
Psychological Support at $1.08
- ---------------
NFA
DYOR
- ---------------
Good Luck!
⚠️Caution: Just because I've set my buy and sell position Settings or drawn direction lines on my chart doesn't indicate I've opened a position or am obsessed with a particular bias. This is only a forecast; I don't trade when the price reaches my level; I have rules of engagement. Perhaps the most crucial element is 🆘RISK MANAGEMENT🆘.
Note
This was a stunning whipsaw where the victim was simultaneously victimized in two different ways.Note
Whipsaw pattern formed again! ... Price already in my area of value, just waiting for the market to tell me to get in on a short.If you place very tight stop losses (very close to the entry point), you may be affected by sudden volatility in the market, which could cancel your stop loss.
Trade closed: target reached
2nd time target achieved !!! Great Trade
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.