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Breakandretest

GBPCAD: Stop Hunts Everywhere ⚠️Wow, last week was intense. Firstly, we saw market makers sweep break and re-test buyers THEN they liquidated breakout buyers from the trend line and to finish all off they did a sweep on sellers that remained. Although the direction is unclear for next week, I have illustrated my bias. I may be wrong but at least I know that stop hunts are out of the way and we potentially have enough liquidity for a big impulsive move. Comment your thoughts below traders 💬
Short
by AlkalineFX
16
Why I Don't Trade Patterns AnymoreHi Purpose Traders. Let's talk chart patterns. As you may know there are dozens of chart patterns out there. I don't know if you're like me, but I get a bit anxious when there are too many things to choose from. It's like being in an ice cream shop. I like ice cream, but I only eat 1 flavor most of the time. Long story short, I used to be a pattern trader and what I realized was like most patterns, I had to wait for the pattern to form before I could trade it. By the time a pattern formed I would have missed a good move because the pattern would change and price moved without providing me an entry. I remember there was a time I thought I saw a bullish wedge formation that turned into a flag that turned into a false break out trade. The more I kept waiting for patterns to form the more I realized I just don't like them because they constantly change. I believe it's the whole break and retest with different timeframe variables that leave a bad taste in my mouth. What do I do instead? I focus on price fluctuations to identify the trend. I figured the more decisions I eliminate the better my trading will be and it has improved tremendously. This wasn't an overnight thing and yes I do still see patterns, but creating my own edge by trading one strategy with simple rules helps me focus on price action alone. I like a cleaner chart with as little detail as possible. No games. No patterns. No lines blocking the flow of price. Just straight price action. Do you prefer to trade this way too or are patterns your thing. There is no right o wrong. You have to trade what works for you.
by ShaquanLopez
2
EURJPY Break & Retest Structure SHORT!Welcome back! Here's an analysis of this pair! **EURJPY broke daily structure and now the pair is retesting previous broken support which will become resistance. Price is also rejecting off the 50 MA. SHORT! Targets 133.98, 133. 64, 132.95 We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support! Brian & Kenya Horton, BK Forex Academy
Short
by BKTradingAcademy
trade idea on TSLA NASDAQ:TSLA TSLA sold off 9.24% today.... insane if you took that short from open. My risk to reward here is to the upside only because we sold off that much. Here is im going to play it: I see a break and retest pattern tesla is sitting at a demand zone but the trend is bearish If we open strong ill take it long to take profit at the retest while scaling out at the supply zones. If we open weak ill wait for it to find a retracement to short and target is the next demand zone. NQ is sitting below the channel and at demand. So if NQ got a relief bounce my TSLA analysis will hit my long position or maybe it may go higher to hit POC
NASDAQ:TSLA
by Trade_with_ICE