You should cut this level in your Forex trades

We had more cells than Oh man, this stuff is going up, why are you running, why are you running, yeah, it’s gotta cut this level, so I expect it’s going to be cut through like butter here in 5 minutes, right this 21 point range, but yeah, it says Go buy instead of sell but um well now we’re getting a really big push but I think we got a bigger bearish volume today if you look at this it’s about 176 and the buys here are not comparable yet so the majority of the volume is still bearish forex trading.  

You should cut this level in your Forex trades

We’ve just got the daily candle here inverted plus 0 11 plus 0.1% so it’s like a weak bullish candle and what we expect with the unemployment claims later during the New York session is forex trading continuing to move higher so I think you’ll probably now see a little more upside here like Preen opening to NY but like a really big inverted head and shoulders and left shoulder head and huge inverted head and shoulders there’s a big push another inverted head and shoulders here we’ve caught the head, we’ve cut off the head and not the right shoulder. But in terms of this situation here, this is a good move I enjoyed it rather because you know the risk management was there, it’s moving slow and decent stop loss but we didn’t ‘there’s not a lot of confluence points I think it’s wait a minute, it was We have a head and shoulders here guys looking at this left shoulder and head and right shoulder confluence mutation It’s a similar theme to what I took here on GJ this morning but with gj1 it was also a little bit different.  

Why do we have so much downward momentum coming from the Forex candlestick?

Because we had a lot of downward momentum coming from the monthly candle anticipating a close in the new monthly candle and also the summer months where we expect some potential interest rate cuts for the pound, so there’s kind of a lot of things moving the price and at first it wasn’t very clear because I wasn’t I’m pretty sure where I’m moving but I know that when the price moves this way there has to be some sort of macro moving it so do that little bit of due diligence to see what’s going on which will give you confidence in executing on certain positions. Just you know like if you see volume like this, the This Is Us gang’s treasury is producing um and so is the inflation data on Friday and you can kind of like put these things together and say okay, this makes sense, we’re just bleeding because of all of this but as you can see with Forex trading, I had no entry opportunities because I missed the only entries that would have been here and it kept melting It is true that there was no structure and then the structure was formed just as we were about to collapse.  

Is it the same for forex trading on GJ?

Also but I get the structure first on GJ or did the structure end up forming a little better shortly before the crash here and then the price reversed otherwise I think the best entries would have been here around midnight ET so there are not a lot of opportunities to make money from This is because it’s kind of parabolic meaning you know there’s no structure so I had to be patient and then we reversed and then came back and what the hell happened here, look at this we broke the price above 199579, it gave you this consolidation warning that tells you that you’re like oh man you’re facing Hard time here. So just secure your management of some risk before I come down and that’s why we said you know soon like 50% if you see that price is having a hard time managing your risk or if you know if you participate in consolidation, you get the full amount, you don’t need To hold a full position just get all the way out because consolidation trading needs volume we need to see volume, no volume no entry no setup so you can manage your risk in this trade um yeah, really nice risk management there so you got like a little bit From the M pattern I also noticed that this pair probably came at the price of double tops.  

Will the Forex Market Sometimes Give You Good Warnings?

Yes the market will sometimes give you really good warnings You just have to listen Put your ego aside and stop trying to be a winner all the time trying to catch up Wick entries won’t work, so manage your risk When the market tells you to manage your risk, just like we said here, you know if You still hold your position and you still want to stay at least close to it like 50% because he’s having a hard time and he’s consolidating here, telling you once the opposite. And then I gave the sellers here some whips when he started getting big whips, you know you’ve got some people who just wait like this Fu, I can’t understand it like this, it becomes this stop loss, this stop loss, this stop happens to people daily It’s easy to forget that it happens once you’re a little further along in your journey but it continues to happen to people daily.  

Summary

I keep extending this like this and it keeps pulling, okay, okay, we’re like a candlestick finally near here I got a forex trade last night and I ended up waking up with a nice double account balance but we also have a clean range uh that pulls back if we get cell confirmations, Just like now, what we like to think is that you’ll never miss a move, so even if you miss those buys, you still have the clean range for the price coming down right, you just have to wait for the market to stabilize because it can keep moving in one direction, and it’s got 56 points there, which is great and it’s also created like oh, we still have 2 minutes and 50 seconds here if we can create more structure then we can see a potential move lower.