Showing posts with label Counter Trend. Show all posts
Showing posts with label Counter Trend. Show all posts

25 Jan 2025

24 Jan 2025 (Trade Example): GBPUSD

 GBPUSD long trade on 24/1/25

Pre-Analysis:

- Trade based on counter trend.

- As GBPUSD direction is down, upon buyers active on this pair to push price higher (this also mean a pullback/deal coming in) we can temporary trade for a long up until max of previous seller area on higher timeframe. In this case daily.

- This need to be a very careful trade.

- We only can consider this if the pullback came in strong, indicating there was buyers pushing this price.


- Strength meter for GBP and USD


Entry:

- Entry time around 10:00am (Asian session)


- The red line in above chart indicate previous seller's area that possible to use as take profit area.

- Immediate strength meter 

10 Nov 2024

8 Nov 2024 (Trade Example): EURJPY

 EURJPY short trade on 8/11/24

- Trade based on counter trend using H4 timeframe.

- The story was 'store' unable to attract more buyer to buy this, therefore in their mindset they might dumb the products/ give discounts to find buyers.

- We can plan to dumb as well considering price may drop following 'store' mindset.

- Strength meter: 


- Entry time around 11:00am (Asia session)


- Immediate strength meter:


- Exit plan, possible to target previous area where price launch.


8 Nov 2024

6 Nov 2024 (Trade Example): AUDCHF

 AUDCHF long trade on 6/11/24

- Trade based on counter trend or reversal using H4 timeframe.


- Entry time around 4:00pm (London session).


- Trade setting up while some results of US presidential election 2024 came out.

- This based solely on technical chart, I didn't have immediate strength meter recorded.