THE TRADE THAT'S GOING TO MAKE YOU RICH: EURUSD BUY...with some sells.

So recently the EURUSD has been nicely trending downward and actually broke the initial 1.33 entry to move all the way down to 1.315, a whole 150 pips. This brings me to the most important characteristic of being a good trader which  is patience. A hasty entry here would have costs us over $1500 and believing the price will eventually turn around isn't the way you want to trade. A lesson I learned from a mentor of mine is, If you aren't making money you know something is wrong there. Trading should be easy and effortless. :Technical and fundamental analysis are the aspects of the profession which require the most energy and attention. The trading itself should be streamlined and methodical.

 The best way to handle this pair is to go with the trend until your signals start turning and your entry has confirmation. And I don't know who started telling people that confirmation comes before the trade is entered but that ish is cray-cray. An institutional trader explained to me and then proved to me that this method isn't cost effective. The longer you wait to enter the trade the worse your risk/reward ratio becomes. The job of a trader is to trade and make money not be right or wrong. Waiting for your idea to be confirmed correct is trying to prove yourself correct, who has time for that? Prices are determined by supplies and demands of the market. Each price has its level of demand and supply which tells you how much much of the market will participate at those levels. Prices should be selected by their history of buyers or sellers participating at their own levels. So long story short if you enter a trade after confirmation you have missed the decisive traders and algos and now you're trading with the retail folks who are waiting for the institutions to show them which way to go. At 1.33 the price was not supported, if was going to be the orders would have poured in which if I was around to observe it, I would have been able to see and join. We are not picking tops or bottoms just letting the market tell us where the orders are and how many are there, afterwards we decide whether or not they'll sustain or strategy. At 1.32 we see the pair become choppy which shows signs of accumulation by our big brother bankers.That tells me I can enter at 1.33 and again at 1.32 because we all know that for swing traders we are trading zones. (Intra-day  trades we want specific prices).

Confirmation will be 1.315 being supported and our indicators rolling over to support or position (because they lag with time/calculated results) In the next week or so we will be finding out if our 1.33-1.32 zone is truly support for the move down from 1.39. Our entry is the 38.2%-50% fib zone and Sunday's open posted what looks like an exhaustion candle because they rest of the week was range bound telling us sellers may be exhausted; So we have some stars aligned, now lets just wait for the market to carry us somewhere beautiful. In the mean time it would be profitable to sell the pops (1.32)while keeping an eye on the integrity of the EURUSD buy, if you have accounts that let you. But hey don't take my word for it do your own research!!