You know that it always pays to trade in the direction of the market condition…
So the first thing that you do in the morning should be to find the currency pairs with the clearer market condition.
Forget about the fundamentals, forget about Fibonacci or Elliot Waves, forget about technical indicators, forget about everything, but the market condition.
If you read my previous articles you’ll know exactly what I mean by the market condition, but I’ll resume it here.
The market condition is defined by the way the market reacts to the long term S&R levels.
That’s it! No mumbo-jumbo stuff…
You should also know the main principle of the market condition and that is:
Most of the time, the market moves in waves, from one level to the other.
If the market gets rejected from an important level it goes back and hit the previous level, if the market breaks through an important level though, it should continue in the same direction until it hits the next resistance level.
Once you get a currency pair with a clear market condition, you just trade it in the direction of the market condition, and regardless of the entry system that you are using, the odds will be in your favor.
And if you keep doing the same thing over and over, at the end the probabilities will do its job, and you’ll get the results you are looking for.
Are you with me?
Ok, now to the signal in the AUDUSD
AUDUSD Short Signal
It just got triggered, let me show you my ST chart:
I’m a few pips down, but I think I’ll do alright with this trade.
What is most important about this trade
What do you think is the most important aspect of this trade?
Is it the entry?
I dont think so, It’s the analysis that I did previous to my entry what is most important.
Take a look at the daly chart:
In this chart, based on what I told you before, its trading in a bearish condition and it is likely to continue its way down.
And for that reason, I feel comfortable shorting it. Even if I lose this trade, I know that if I keep doing the same thing over and over, the probabilities will to their job, and I’ll be alright.
What do you think about my concept of Market Condition?
What do you think about my AUDUSD analysis?
Are you going to trade?
Leave a comment!