After taking that 4h swing short, an obvious H1 intraday appears telling me that the banks are continuously selling. IT formed another supply and it is putting money on the table here. I wonder where are the other traders ? Are they seeing this ? Obviously, thanks to the novice trader ( honestly ) , they are the contributors within this trading arena. They are so charitable that they continue the same mistake or perhaps they are new traders out there, or they thought that we are oversold as per their indicator.
In fact we are not there yet and it just goes another 300 pips most probably to go to the nearest demand! Now if you look this on a bigger time frame , it is in fact a long strong arrival! And you know the rest what is to expect if you had learn this from Sam Seiden’s video on FXstreet.
We just might be approaching Demand and price might go ranging on a larger time frame or longer term trades or perhaps range and continue it drops. US dollar is still strengthening and also approaching its supply on the larger time frame.
so be cautious when following the trade .
By the way, this trade was taken on a 1: 2 RR, risking only 12 pip for a 24 pip reward.
Hope you all are doing well. Because talking about trading is sometimes boring. May be next time I talk about discipline and psychology where almost every trader fails!