Trading has been halted everywhere and I was really concerned about world and my health due to ongoing virus outbreak which went to take so many lives & we never expected that to happen as we all keep doing things we should avoided. Anyway I hereby want to draw your attention towards the trading education and recent eur dollar trade that I took yesterday is a prime example of Support resistance Kink & tested with in & out compression.
We all know price move in patterns and it ever found locations before reversals and without cashflow price never move or reverse or even in choppy sessions, I always keep a note of what is happening on shorter time frame.
Chart of Eur dollar is a very good example & even a average supply and demand trader can fetch some good pips ( +65) to be exact that I took.
Price Action is never random and that is why I always warn price Action trader to keep looking for support and resistance fakey zones before moving to strong trendline resistance support trades. You just need good reward to risk. My Risk in that trade was only 12 pips & rewards is already 5 times of the risk & that is what we should always focus and if you do have a couple of losses then a single trade can help you make out and never force you trade for the whole week or even month .
I hope it helps you all & in case you need any further help, then please contact me with you email & preferred way of contacting. I would reply each and everyone the best way I can.
Cheers & stay well.
Update on 18th April 2021
Euro dollar Price Action on 1 Minute Chart
I always use the price action as Random on any time frame. Prime example is Euro Dollar trade that I took today on 1 minute chart, which fetch me 70 pips with 2 pips stops. I use ECN broker, So I don’t have to worry about spread at all. 2 standard lots and I don’t have to trade for next couple of months & that is the beauty of having patience and also opt for best of the setups that always offer you 10-20 times of Reward to risk and this time it was exactly 35 times of the Risk I plan to take.