PLEASE TRADE SAFE!! Be responsible, understand the market condition you're trading. If you're new to trading you may not understand the change in market as this will seem normal to you. Let me tell you, these are not normal market conditions.
Candle close times:
Just thought of something that I don't think I have mentioned a lot on here. Candle close times!! Just like when you're scalping you're looking at the structure, for the candle to close on a 1/5/15m timeframe, it's the same thing for a lot of you who are trading the 1H chart! Always try to wait for the hourly candle to close before you get into a position for a longer capture.
Just thought of something that I don't think I have mentioned a lot on here. Candle close times!! Just like when you're scalping you're looking at the structure, for the candle to close on a 1/5/15m timeframe, it's the same thing for a lot of you who are trading the 1H chart! Always try to wait for the hourly candle to close before you get into a position for a longer capture.
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Pre-event price action:
Trend within trends on the smaller timeframes
Patterns that conflict each other - You may get a H&S but with that is a double bottom for example. They do this intentionally to get traders committed to the wrong direction
Ranging price staying close to short term MA's
Swings and spikes all of a sudden - This is a stop loss hunter activation taking liquidity from the high and low of a potential range
Trend within trends on the smaller timeframes
Patterns that conflict each other - You may get a H&S but with that is a double bottom for example. They do this intentionally to get traders committed to the wrong direction
Ranging price staying close to short term MA's
Swings and spikes all of a sudden - This is a stop loss hunter activation taking liquidity from the high and low of a potential range
EU was a short and Gold a long. Absolutely crazy markets
Just goes to show, trade the pair for what it is and what's it's showing you. Sometimes correlations are there to slip you up!
Morning team. NFP day today, there will be no morning review and bias. We will put together an NFP report as we usually do and release before NY open. Newbies and those who are less experienced please do us a favour, take the day off.