How to know when to stop your profits when you are in a momentum movement in Forex
How do you know when to stop your profits when you’re in a momentum move in Forex Great question and this is the answer So when we’re in this move when you have this lower low, you’re destined to have a lower high, and I don’t want to be part of that lower high because I can then re-enter the trade where I can decide how to stop it completely it’s easy when you start to see the 15-minute structure shift, that’s why I told you this candle here, we had to wait for it to close because if it had closed higher it would have started structurally uptrend in Forex.
How to know when to stop your profits when you are in a momentum movement in Forex
Now that the exchange will be an inversion to here and afterward begin to stow away to the disadvantage since the nearby was negative and all many a that was negative, which is an extremely obvious sign that the energy will proceed to the drawback once I begin seeing some cost activity here At minute 15 that would be dismissed and afterward start that pullback, that is where I would promptly close that position and take my benefits by then since that pullback was required only exactly the same thing as here when we had this significant down move I entered here I realized That there will be decay.
I just felt it closing but low low, low, high, low, low, it’s going to happen, I can literally draw this move here, let’s show you guys that we have a lower low and a lower high, I’m just going to take the same move over here, so in terms of Artistic, to repeat this same movement.
We have a lot of runway in this trade before we have a pullback and we notice that the pullback is near the same level where we should do a retest so I don’t know that I might make a decision too soon, I want to close at the 200,000 level, now we’re at 198 so I can’t Look at this, I’m just supposed to do that.
Learn more from an expert Forex trader about the market
Look at this because this is going to directly reflect what’s going on here so I know I’m preaching a little bit but I need you guys to understand deeply that this is more than just reading the markets, it’s like really understanding it as someone who gets it I’m a trader so I feel like I did everything I could You guys can see here in our trading history that we’ve officially closed the trade now.
And that’s exactly what I said this trade had a lot more downside potential but no less upside, so we avoided that pull to perfection, we closed the trade not at the lowest point you know, we could have closed at the bottom of those wicks, but that’s exactly what I expected is The price would be retesting to retest this level of support and resistance, so the price could then continue the downtrend.
Adding a new entry into Forex deals
We might add an entry very soon in this position here but we’ll be you know what should we risk because I’m not going to risk 100% and I’ll probably risk like 50k because we’re over this week but I don’t know so I’ll decide later today because this is happening right now at 5:00 is when the daily candlestick closes, so if I show you the daily time frame, God bless you, thank you my friend.
You have to say it a little faster sometimes, usually, you do it three times, you’re right, look what I’m telling you, this guy knows me and that was very accurate, okay, so if the daily time frame is closed with like this daily wick and then the next day We will fill this daily wick so we definitely have another lower high right now if we get some good price action tonight in the session.
Trade Forex currency deals with the rising market price of the trading session
We could easily pick that up and make a trade and make another 50-150k for now oh my god I’m playing with them right now yeah oh my god what you’re saying says out loud I got a Bugatti would be fun so I don’t know the way I look at it like everything happens for a reason.
I can cover my stop above this high just to keep this high safe and we can target my fair value gap which will be the ultimate liquidity drawdown so let’s play this forward to see what’s important to note here is that the price has not exploited my fair value gap so it is still valid If the price action goes through the fair value gap, this trade will be invalid because my liquidity drawdown has been reached but because it is still intact.
Summary
My liquidity withdrawal is still intact, and my trade is still falling, let’s play this forward there we get there, we get the benefit of our limit order and immediately the price action is triggered and my liquidity withdrawal is triggered, and that is because my liquidity withdrawal is the ultimate goal I will By canceling 100% of my position at this level if I play at this level forward let’s see what happens the price action melts so it is up to you to decide but for me personally, I played safe I will take all my position I will stop as soon as my liquidity withdrawal arrives guys, I hope you enjoy today’s article, I hope you learn something, I hope I have taught you well how to trade Forex.
