USD pairs were the ones to watch this session. GBPUSD and USDCAD running well.
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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
Ask yourself these questions:
Do I understand intra-day levels?
Do I understand pre-event price action?
Do I understand trading with ranges and price accumulation?
Do I have a risk model that protects me and my account no matter where the price goes?
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
Ask yourself these questions:
Do I understand intra-day levels?
Do I understand pre-event price action?
Do I understand trading with ranges and price accumulation?
Do I have a risk model that protects me and my account no matter where the price goes?
β€15