Price has clearly formed a falling wedge pattern and looking to enter LONG.
If you notice yesterday the price was impulsively going short but that was clearly only to take people at the wrong side of the market before shoot up.
Because seeing the heavy momentum to the downside people will think price is continuing lower.
But a professional trader knows that this is only to get people at the wrong side of the market by hitting their stop losses and then continue going long.
Please Note:
Just knowing the direction of the next move will not help being profitable.
There is a lot more to it with regards to the entry technique and successfully managing the trade after entering the trade.
If you look at my previous trades, 90% are impulsive moves covering about average of 80-100 pips.
So you need to make sure you enter the trade at the right time and manage the trade to get the maximum amount of pips from it.
Comment below in case if you need to know how to do it if interested.
If you notice yesterday the price was impulsively going short but that was clearly only to take people at the wrong side of the market before shoot up.
Because seeing the heavy momentum to the downside people will think price is continuing lower.
But a professional trader knows that this is only to get people at the wrong side of the market by hitting their stop losses and then continue going long.
Please Note:
Just knowing the direction of the next move will not help being profitable.
There is a lot more to it with regards to the entry technique and successfully managing the trade after entering the trade.
If you look at my previous trades, 90% are impulsive moves covering about average of 80-100 pips.
So you need to make sure you enter the trade at the right time and manage the trade to get the maximum amount of pips from it.
Comment below in case if you need to know how to do it if interested.