DislikedHello! I'm new to Forex Factory and I love the positive vibes from this thread. I've been reading and catching up on all the comments. So far I am only on Page 18. GBPUSD 1H - Short Position from ADR High The Price tested the Previous Daily Open and attempted for the Day High but was unable to close above. On the M15 Chart, the PA has been bouncing off of the ADR High which is starting to look like Resistance. The Price from H1 - W1 are all below the SMA. Although the RSI is still 54.. It is a risky trade. I went in a little late but I set my TP...Ignored
As you say, it's an ADR trade so always a bit more risky. But it's valid, yes. To begin with though, you might want to stick to channel crosses until you master those.