You trade down into support, and you trade up from support..
you trade up into resistance, and you trade down from resistance....
Quarterly support 1.9504
price travels from the middle outwards, and rotates back inwards...
price didn't complete the Thursday lows from the 5-day 50% level Sell-down yesterday, so it completed it today into Friday lows....I was selling the 90 pip top on Friday for the move down and exit.
Didn't trade longs because I had to go out to dinner, but if I was around I would have bought the lows today.....
Next Week starts a new weekly timeframe, and we repeat the process:- trade UP and Down from channel extremes along with using the 5-day 50% level..
Have a good Weekend
you trade up into resistance, and you trade down from resistance....
Quarterly support 1.9504
price travels from the middle outwards, and rotates back inwards...
price didn't complete the Thursday lows from the 5-day 50% level Sell-down yesterday, so it completed it today into Friday lows....I was selling the 90 pip top on Friday for the move down and exit.
Didn't trade longs because I had to go out to dinner, but if I was around I would have bought the lows today.....
Next Week starts a new weekly timeframe, and we repeat the process:- trade UP and Down from channel extremes along with using the 5-day 50% level..
Have a good Weekend