Daily Chart Perspective
Updated
This week, we're observing the market as it meticulously follows a well-defined Trend Line within the daily timeframe. Our strategy hinges on keenly responding to the market's next move. Here are the scenarios we're preparing for:
Scenario 1: Should the price convincingly break and close above the Trend Line, we're looking at a potential yet prudent opportunity for a long trade. Additionally, this scenario may provide Bears with a chance to engage at a 'Discounted Price,' playing the patience game for an optimal entry point.
Scenario 2: Conversely, if the price breaks and closes below recent support, it could indicate a further bearish descent, aligning with a continuation of the downtrend.
The key to success this week is patience. Let's allow the market to reveal its direction, using a blend of Technical Analysis and Fundamental Analysis to guide our decisions. Stay alert, stay informed, and prepare to act when the market confirms its course.
Scenario 1: Should the price convincingly break and close above the Trend Line, we're looking at a potential yet prudent opportunity for a long trade. Additionally, this scenario may provide Bears with a chance to engage at a 'Discounted Price,' playing the patience game for an optimal entry point.
Scenario 2: Conversely, if the price breaks and closes below recent support, it could indicate a further bearish descent, aligning with a continuation of the downtrend.
The key to success this week is patience. Let's allow the market to reveal its direction, using a blend of Technical Analysis and Fundamental Analysis to guide our decisions. Stay alert, stay informed, and prepare to act when the market confirms its course.
Note
Significant set ups showed inside the range, but a bullish price action caught my attention. Still need a confirmation for this Long Trade. As always, High Volume Candle will be my signal to enter.Trade active
Strength of Dollar plays a key confluence for this Short TradeA Price Rejection of our Daily Trend Line was also observed
I entered after a BEARISH ENGULFING CANDLE with HIGH VOLUME was printed on the Chart
Trade closed: stop reached
Hit stoploss for this trade, turned out that the dollar break out was a fake one.
I still took the trade with a High Volume Candle that is in parallel with my Strategy.
Losing trades are an opportunity to refine the strategy. we got this
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