Few days ago, some students wrote to ask me on a reversal trade in EURAUD.
It is not that I don’t trade a reversal trade, just that I didn’t like to predict reversal. I like the market to show me that there is a reversal first.
Question by student:
I see a potential head and shoulder. I see a potential EWUS.
Not wrong to think of that. But for student thinking of EWUS, either you are stopped out (if put 25 pips Stop loss) or either you feel constipated but not stopped yet (if put stop loss at price of the head).
For student thinking of a potential head and shoulder, your mind will keep on thinking of a reversal. If this should continue into a trend continuation, you can’t react.
Whatever it is, if the below price action happens, then you will feel sour and discourage about this trade.
What I like is to let the market tell me first, then to predict a reversal. This is so far how I have been trading and guiding a reversal. For students who asked me how long it takes to be successful, the key to this question really lies in how long you take to realise this.
Big picture planning
H4 suggests price is topping with flat consolidation boxes
There is really no point in predicted or anticipating a movement. Let the market ASSURE you and be ASSURED yourself.
H1 Fine tuning
Below 14080 has support 14010-20 and 13950-60
So answer this question:
Is it good to be slow or fast in trading? Great to have this question answered especially students who asked me about EURAUD trade.