The Bearish Clock is Ticking...
Updated
A quick re-cap of where we have come from and how long we have followed the analysis on this pair.
The market is Bearish and is currently in a bearish PB. After the bearish impulse, the market has continued to push bullish to give us a retracement. From our earlier analysis, we saw the market dip to make a low, and we had established that from that point on, we would expect prices to begin to retrace bullish towards our refined zone of the 1 hour PB.
The market is still on that bullish retracement. It would have been a great idea to have caught a long on that bullish retracement, but I didn't. lol.
So now the market is almost in our zone. We should see the bullish move experience some slowing down as it draws closer to our target.
As a trader, patience is one of my virtues. A second one is that I trust my tradin system and I always stick to my rules. So on this one, I will stay disciplined. I will wait for the market to get into the zone and from there I would begin to look for possibilities of a bearish u-turn to set us off on our swing towards the extension.
When the market gets into our zone, we will use one of the trade entry methods from Panzy Pips to catch this beautiful bearish trade; and boy, we are gonna milk this trade dry... lol
The market is Bearish and is currently in a bearish PB. After the bearish impulse, the market has continued to push bullish to give us a retracement. From our earlier analysis, we saw the market dip to make a low, and we had established that from that point on, we would expect prices to begin to retrace bullish towards our refined zone of the 1 hour PB.
The market is still on that bullish retracement. It would have been a great idea to have caught a long on that bullish retracement, but I didn't. lol.
So now the market is almost in our zone. We should see the bullish move experience some slowing down as it draws closer to our target.
As a trader, patience is one of my virtues. A second one is that I trust my tradin system and I always stick to my rules. So on this one, I will stay disciplined. I will wait for the market to get into the zone and from there I would begin to look for possibilities of a bearish u-turn to set us off on our swing towards the extension.
When the market gets into our zone, we will use one of the trade entry methods from Panzy Pips to catch this beautiful bearish trade; and boy, we are gonna milk this trade dry... lol
Trade active
Hey Guys!
We are at it again....!
A quick question before we give the update on this analysis: "What is your hobby?"
Well, let me be the first to answer. Mine is forex trading. And so I am come to the markets each and every time with a chest load of excitement, looking to find market direction and catch my next trade in the direction of my analysis.
Feel free to drop your own answer to the question in the comment section.
Now back to our analysis.
From our analysis yesterday, we had looked to catch a sell trade. I am pleased to announce to you that we caught that trade guys. The market is currently progressing in our direction. We have moved stop loss to break even and have taken our first partial on this position. So not only have we already made some profit off of this trade, but we are not completely risk free too.
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