Hi, Traders Welcome to blog again, As I have start to update the technical portion on daily basis or when opportunity arrives as a rountine, I am here again to post few technical updates and start with Gbp/usd, Gbp/jpy and Eur/jpy.
First of all I always focused on what traders or smart money attempts at the start and the close of session and lined up pair for the next day as moves between supply and demand or say stops and hunting, because only time tell us whether there is demand or supply or even if there are failed attempts during a session, I don't take any trade as I start lined up the behavior after such failed attempts.
Pound is in consolidation pattern since last few days as it moves just above support and looking for direction so in such attempts we can find areas of rejection or false breakout just above the level if we see enough buckets of selling and buying bids were carry forward to hunt the stops and In such case I always look to sell the rally specially after day session close.
Best way to advertise or buy the cheapest links about any category. Perhaps the best way to monetize you blog and earn thousands and that has been never so easy earlier seems the easiest now
buy blog links
Trader's mindset can be its worst enemy
Trader's predetermined mindset after seeing the candles patterns is its worst enemy specially when we find such pattern occurs at strong support and resistance, but what are the probabilities that such pattern will give away to reversal or new trend or even end of retracement or correcetion.
How much success does trading candles only with patterns brings and If there is so much success ratio, then How many trader's does really make a living or substantial profit out of those patterns. There might be few who might have been very strong in risk management or control or manage there trades well or does apply some filters and come up with a powerful strategy to consistently grow their account but It does take lot of years to be able to adapt to any strategy, that is why I always try to trade logics not the possibilities which I think is quite similar to gambling and probability of success and failure is not more than 10-15%.
Chart of gbp/usd have different answers for me
There are bundle of stop bids around 1.4570-80 area and If you could see consolidation attempts to run this stops today we could see a massive selling around 1.4571-90 levels soon.
No comments:
Post a Comment