Level to level please if you took the long trade. Key resistance levels above and accumulation in progress on the smaller TFs.
It's got to be hit and run today, they can swing it up again if these lower levels hold price
Please open Telegram to view this post
VIEW IN TELEGRAM
Please open Telegram to view this post
VIEW IN TELEGRAM
A common mistake traders make:
As we know, prices go up and down, it's only lately we're seeing even more extreme market conditions across all pairs. What tends to happen is traders get stuck in their mindset, whether that be a bull or a bear. This is hope! We've always said we need to adapt to the markets, when they go up we trade them up, when they go down, we trade them down. What tends to happen at extreme levels is that traders become fixated on their bias, this is either euphoria or because they didn't have a stop loss and have positions stuck in a either direction. So, if they're in longs and the price comes down, they're always looking for a low to go long again, if they're in short and the price goes up, they're always looking for the high to go short again. What is the problem here? Your stop loss, your bias and the "herd mentality".
As we know, prices go up and down, it's only lately we're seeing even more extreme market conditions across all pairs. What tends to happen is traders get stuck in their mindset, whether that be a bull or a bear. This is hope! We've always said we need to adapt to the markets, when they go up we trade them up, when they go down, we trade them down. What tends to happen at extreme levels is that traders become fixated on their bias, this is either euphoria or because they didn't have a stop loss and have positions stuck in a either direction. So, if they're in longs and the price comes down, they're always looking for a low to go long again, if they're in short and the price goes up, they're always looking for the high to go short again. What is the problem here? Your stop loss, your bias and the "herd mentality".
Due to the range we're marking caution on the daily bias today. To help you navigate the range and for those who scalp, these are our daily red boxes
Power of Excalibur Red boxes #redboxtraders 🔥