Retesting currencies in the Forex market
For markets that are literally doing nothing so you guys can see the price here is just a little bit of a pullback exactly what I expected and nothing else is denied that we can do we expect from this market to have USD/JPY which we retest the way we wanted to but I’m not looking to get into this trade yet because again keep in mind that it’s basically almost like Friday Junior, so there is only one more session left in the market.
Retesting currencies in the Forex market
I’m not trying to get involved right now, I don’t know, I don’t want to be that guy who wants to force a strong trade at the end of the week especially when I hit my target for the week but this is a perfect entry signal, you can easily enter this trade here and put a stop loss right below it and then This could be a quick take profit here for a quick one or two, and I don’t like the way the structure has turned into a bearish CU.
You can see High High High Low High High High High Low And now we’re in a bearish position, 30 minutes down and 15 minutes down, the only way I’ll be able to care about this trade is once the price breaks above The structure is this and then there’s a pullback and then we can do the trading so, for now, we’re not interested in that and GPUs didn’t finally give us the retest the way we wanted to so we missed the whole boring updates I know but I can’t control the markets.
Can a Forex trader control a transaction within the market?
I control the markets, no, no, I mean I have a guy inside the markets that I call, I’m like you, I’m about to get into a trade, help me out and then you know hold me a little bit off the edge, I’m kidding, I should be lit though That’s it now and forget let’s see what today brings, it’s currently 1:45 pm on Friday, no more trades have been added since Monday I know it’s been a boring challenge this week.
I didn’t do much overall, I was home yesterday and slept for about 16 hours, but this is a perfect example of a trade idea that we anticipate your reaction to and you adapt as you enter the next trade and then avoid a loss, so let’s start with the USD well before we move on to USD/JPY Let’s move on to USD/CAD, so there is no USD/CAD reaction.
Forex Time Frame Trading Closing Using Wick
From here as we expected it is seeing a pullback which is good in my opinion because I think this trading throughout next week is going to see a huge push to the downside and I think the weekly time frame is going to close with this huge weekly wick and that will be a very good indicator for next week to open up and fill this Wick and create a strong lower bottom in this market which will be very nice next will be USDJPY as we expected yesterday that the price will do a quick retest of this level and then head to the upside to buying after that.
That’s exactly what we did when we got to the take profit zone that we were looking to get out of by 1 to 2.5 but then this shit happened honestly I’m going to be 100% honest and 100% transparent I was going to lose this why you were going to lose well this is why because I was I would go into this trade and you guys know I like to set and forget and I was going to keep adjusting my take profit.
A quick retest of the Forex structure level
I would probably set up one here versus one to four for example, and after seeing price action like this after the price created a higher high, I would probably expect the price to do a quick retest of that structure level to then continue heading to the upside but it didn’t I would never expect in a million years that one candlestick would just go in and do that and look at it in 15 minutes, and that’s absolutely brutal.
Look at that like I’ll see the price action, I’m fine, you know what’s great I’ll go take a shower and eat something and I’ll come back 15 minutes later having a fucking heart attack, how did this trade go from being up from one to about three and then 15 minutes later, This is brutal now you guys say okay, you’re going to break even no, you’re never going to break even even if last week wasn’t a perfect lesson in that, I don’t know what else is.
How to avoid loss in Forex before retesting?
This would actually be a losing trade for me if I had executed it simply because I would have continued to set and forget because of the price action it was very nice so we avoided a loss earlier this week here on the retest and we never got our entry and then we missed this one but it was That’s for the good because we would have avoided this crazy loss next week, and I would definitely be interested in shorting this market.
If he decides to close like this because we still have 3 hours left in the daily time frame and we all know how things can change very quickly next week, I will look for a retest and so forth, so that’s why we finished the week with 201,000.
Summary
There are no more trades, let me show them actually one second and you guys can see we’ve hit 21,000 and the trading date, you guys can see absolutely everything there, so no more trades in the account, this is a perfect example of of of of of set and forget Strategy, next week we will try to turn this 200 thousand into 400 into half a million and then next week we will turn half a million into a million in Forex.
