Hi guys,
I want to just say that the following is of course my opinions only, simply sharing my experience for what it's worth.
Counter-trend trading puts the odds against you. If you are trading from day to day, you must look at your daily ichimoku. Look at this Daily EUR/USD ichimoku and how bullish it is (Chart Below).
What color are most of the candles? GREEN, I count 9 actually negative candles, where price doesn't form a new high, counting after chikou span clears. Which days will you WIN the most??? There are 22 candles with the bull trend. There are more pips and better chances at winning.
Usually your 3(or 4) hour chart tells you when to get out, if it's risky.
Always look at the Daily trend.
Regards,
Kevin
I want to just say that the following is of course my opinions only, simply sharing my experience for what it's worth.
Counter-trend trading puts the odds against you. If you are trading from day to day, you must look at your daily ichimoku. Look at this Daily EUR/USD ichimoku and how bullish it is (Chart Below).
What color are most of the candles? GREEN, I count 9 actually negative candles, where price doesn't form a new high, counting after chikou span clears. Which days will you WIN the most??? There are 22 candles with the bull trend. There are more pips and better chances at winning.
Usually your 3(or 4) hour chart tells you when to get out, if it's risky.
Always look at the Daily trend.
Regards,
Kevin