Day 3 | GBP/USD 1m Scalping on "W" Pattern (7th of April 2021) [VIDEO]
Woow, today was an amazingly short trading day, this is how I like it. Now, I didn't trade a "W" pattern which is again failing to adhere to my strategy, but hear me out as maybe there can be exceptions here and there. I know that it seems that you could say that about any trading day however..as you can see in the screenshot and video, there was just too much liquidity on the left side and once I saw a nice wick red candle hammer and the whole price action seemed to want to break down below that trading line and also the horizontal support that just seemed very clean and regular, I just had to take advantage of that candle and try a SHORT.
I decided to give it a try also because I've seen this price action many times and it was always one of my favorite as it just falls down like an apple from a tree within seconds. And that's exactly what happened right now as well.
That's it, my trading day lasted literarily just 1 minute. When I reach a profit of about $60, I always just close the trade no matter what and don't risk as this is my daily target. I knew that there was a 90% probability that it would have continued to more profits along that liquidity on the left side, but for nowadays I just don't risk that at all. Now let's go to the beach.
When I reach my daily goal or at least get out of a negative balance if I caught some bad trades, I usually continue to observe the market just for improving my skills...The rest of the day actually offered nice 3 profitable "W" pattern trades and 1 maybe-loss-maybe-breakeven "W" pattern trade:
DISCLAIMER: I'm not a financial adviser and this is not a financial advise. Remember, most traders lose money.