Please tell me does this method work?
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Dislikedfxgroup, how to handle Christmas and New Year with this method? When do we stop trading and when do we start again?Ignored
Dislikedfxgroup, how to handle Christmas and New Year with this method? When do we stop trading and when do we start again?Ignored
DislikedHi FxGroup, am newbie here, I appreciate your effort in sharing and teaching. Hope you can advice on a setup I come across in USDCHF. In the weekly charts, if P close below 0.9266, I am thinking of going short. What do you think?Ignored
QuoteDislikedA Weekly big black candle has formed. This is a bearish candle as prices closed significantly lower than they opened. If the candle appears when prices are "high," it may be the first sign of a top. If it occurs when prices are confronting an overhead resistance area (e.g., a moving average, trend line, or price resistance level), the long black candle adds credibility to the resistance. Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area.
For the past 10...
DislikedHi dfumagalli, thanks for the reply. Well, my reasoning for saying long in GBPNZD is because the support line at 1.9050 is more, how shall i put it, prominent/strong than the trend line. Correct me if I am wrong in this analysis, m still a newbie in trading.Ignored
DislikedThe correct way is: "what price is doing (WPD)?".
If you understand it then you have to find "where price is going (WPG)"?
If you have *any* doubt about WPD you are way, way better skipping the trade completely.
Rule #1: capital preservation, and you can't fulfill it if you are not confident you have understood what the market is saying.
So, given the classic and FXGroup teachings say about triangles, WPD for me is: "price formed a triangle and broke it downwards. I expect price to retrace up to the triangle trend line to confirm...Ignored
DislikedHi FxGroup, GBPNZD looks interesting. If it close above 1.9050, 1.9400 is the first TG. What you think?Ignored
DislikedHi, I get what you mean, if not sure, stay away. Taking this example as a learning trade, I am, confuse. Because the P is between support line at 1.9050 and a trendline resistance, my confusion starts: which is more important? The support line or the triangle?Ignored