I am wondering if I have picked a difficult time to learn the basics of trading.
My style is really resonating with Jackos teaching on trend and keeping things simple. Although its not quite so simple as showing the chart to my 3 year old daughter to determine which way it is going. Like the Euro hitting 1.6 and consolidating back to 1.4, will it continue its trend up or will the banks intervene and try to keep it down? I am staying out because I really don't know. I am looking at two other pairs on the daily chart, the GBP/USD and the USD/JPY. Both seem to have hit a peak (bottom) and reversed, but since I don't have the experience in analysis, how can I spot a true reversal rather than a correction?
What are the clues to a real reversal? Would it trend for awhile before it reverses?
Thank you for help!
My style is really resonating with Jackos teaching on trend and keeping things simple. Although its not quite so simple as showing the chart to my 3 year old daughter to determine which way it is going. Like the Euro hitting 1.6 and consolidating back to 1.4, will it continue its trend up or will the banks intervene and try to keep it down? I am staying out because I really don't know. I am looking at two other pairs on the daily chart, the GBP/USD and the USD/JPY. Both seem to have hit a peak (bottom) and reversed, but since I don't have the experience in analysis, how can I spot a true reversal rather than a correction?
What are the clues to a real reversal? Would it trend for awhile before it reverses?
Thank you for help!