Smartmoneyconcepts
EUR-CAD Local Growth Ahead! Buy!
Hello,Traders!
EUR-CAD is trading along
The rising support and now
We are seeing a retest and
The beginnings of a rebound
So we are locally bullish
Biased and we will be
Expecting a further
Local move up
Buy!
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EUR-USD Will Keep Growing! Buy!
Hello,Traders!
EUR-USD is trading in a
Strong uptrend and we
Saw a bullish breakout
Of the key horizontal
Level of 1.1111 which
Is now a support and
The pair made a retest
And is going up again so
We are bullish biased and
We will be expecting a
Further bullish continuation
Buy!
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GBP_CAD RESISTANCE AHEAD|SHORT|
✅GBP_CAD will be retesting a resistance of 1.7861 level soon
From where I am expecting a bearish reaction
With the price going down but we need
To wait for a reversal pattern to form
Before entering the trade, so that we
Get a higher success probability of the trade
SHORT🔥
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Trading AUDUSD | Judas Swing Strategy 21/08/2024Last week, the Judas Swing strategy produced just two trades, both on EURUSD. It served as an excellent lesson in risk management; despite having one win and one loss, we concluded the week with a profit, securing a 1% gain. Even during a slow week, we concluded on a positive note, and it's these small victories that sustain a trader's enthusiasm for the new opportunities each week brings. As is customary, at 8:25 AM EST, we commenced the day by reviewing the essential items on our Judas Swing strategy checklist, which comprises:
- Setting the timezone to New York time
- Confirming we're on the 5-minute timeframe
- Marking the trading period from 00:00 - 08:30
- Identifying the high and low of the zone
We now wait for the high or low of the trading zone to be swept, which would guide our bias for the session. After 1 hour and 35 minutes, the low of the zone was swept, indicating that we should look for buying opportunities during this trading session
After 35 minutes, there was a break of structure (BOS) to the buy side, leaving behind a Fair Value Gap (FVG). Now, all that remains is to patiently wait for price to retrace into the FVG, presenting us with a trading opportunity
The subsequent candle formed a bearish marubozu, closing the gap left from the previous upward move. We executed our trade after the candle's closure, as it met all the criteria on our checklist
After executing our trade, we experienced minimal drawdown as the position quickly turned profitable. These are the types of trades we all hope for, aren't they?
All we need to do is wait for our Take Profit (TP) to be reached, right? Let's observe the outcome. Price got close to our TP and then began retracing. This is the moment when traders who have not thoroughly backtested their strategies might panic and close their trades prematurely. Some may consider moving their stop loss to break even; however, our backtesting data shows that this approach does not benefit us in the long run, as price may hit the break even point and then proceed in our anticipated direction. Therefore, in such situations, we should not panic; instead, we patiently wait for either our TP or Stop Loss (SL) to be triggered.
Price returned to our entry point, and at this juncture, traders who risked more than they could afford are likely experiencing an emotional roller coaster. However, we remained undisturbed since we only risked 1% on this trade with the aim of achieving a 2% return
After 3 hours and 30 minutes, our Take Profit was triggered, and our patience paid off as we hit our target on AUDUSD, resulting in a 2% gain from a 1% risk on the trade.This trade served as an excellent illustration of the importance of patience and adherence to your trading plan. We hope you have gained some insights from this.
GBP-USD Epic Resistance! Sell!
Hello,Traders!
GBP-USD keep growing
In a super strong uptrend
But the pair is locally
Overbought so after it
Hits the horizontal
Resistance of 1.3148
I will be expecting
A local bearish correction
Sell!
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GBPUSD: Swing Buy Now +500 Pips! Get ReadyDear Traders,
GBPUSD is expected to continue rising from current price scenario, we have NFP this week as well which is likely to increase the buy volume within the market. We cannot predict how news will impact on the price but we can see price heading towards our target in soon time.
Team Setupsfx_
GBP-AUD Will Fall! Sell!
Hello,Traders!
GBP-AUD is going down
And the pair broke the
Key horizontal level
Of 1.9260 which is now
A resistance, then went
Down, made a pullback
And a retest of the
Resistance and is now
Moving down again so
We are bearish biased
And we will be expecting
A further move down
Sell!
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EUR_USD BEARISH CORRECTION EXPECTED|SHORT|
✅EUR_USD will be retesting a resistance level around 1.1137 soon
From where I am expecting a bearish reaction
With the price going down but we need
To wait for a reversal pattern to form
Before entering the trade, so that we
Get a higher success probability of the trade
SHORT🔥
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