How would you trade this formation?

forex_trader_236107

Tham gia từ Mar 10, 2015 88bài viết

May 01, 2015 at 13:54

Tham gia từ Mar 10, 2015 88bài viết

Please be advised high impact news will hit in 6 mins from the time you see.

shellsnail

Tham gia từ Oct 21, 2012 6bài viết

May 02, 2015 at 09:20

Tham gia từ Oct 21, 2012 6bài viết

My experience with trading these situations is... just follow your original trade plan.

Price wasn't behaving as it was in the last few days. Very whip-sawish/no clear trend on the 1 min chart. I hypothesize that this correlates with trend reversals, though I can't be sure without doing testing.

But in reality I followed by trade plan and tried to go long several times. Didn't work out because of the whipsaw and took some losses (3% total). One of the worst sessions I've had. The great London Open balanced it out though. :)

alexforex007

Tham gia từ Oct 11, 2013 769bài viết

May 04, 2015 at 04:40

Tham gia từ Oct 11, 2013 769bài viết

markets can become irrational at times, especially during news announcements.

forex_trader_236107

Tham gia từ Mar 10, 2015 88bài viết

May 04, 2015 at 12:16

Tham gia từ Mar 10, 2015 88bài viết

alexforex007 posted:
markets can become irrational at times, especially during news announcements.

I would agree with you 100%, but they only being irrational when we have expectation to what they should do. Simply look at the formation which I have posted above. No matter what tf you trade, the same formation will appear, although news on the formation above caused the drop, it simply speed-ed up the process in which it occurred.
Once I am done trading today, I will share some things which hopefully people will take interest to. It is so sicking how forex is mostly about "Selling EA's" then people trying to profit by themselves. If you can learn how to look for the patters and ONLY trade those patterns, then your account will reflect it.

EURUSD	1.13461	GBPUSD	1.33839	AUDUSD	0.64732
USDJPY	142.528	USDCAD	1.37926	USDCHF	0.82353

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