DislikedHi Soltani,
I didn't understand when you said 'touches'. Do you mean resistance/support area touches ??. Could you please eloborate on how you take a trade. For me I try to place in trade between daily pivot and first resistance/support area. For EUR/USD it works really nice. I will apreciate if could please explain how you take a trade.
Thanks
LeoIgnored
Here goes: My style of trading is based on support/resistance. So I usually wait for a resistance to form and after it breaks I enter on the pullback. Now sometimes that resistance turns into support and I can profit from it. Sometimes it just slices right through it.
Here I've posted two charts.
usd/chf 4 hour:
On the 4 hour chart, price was obviously stalling at around 1.0220, hence forming a resistance. Price later shot right through it and came back to it which also happened to be the 50 retracement (The probabilities increase when there is confluence). T/P should've been around 1.0345 because of the major support there. It's so major that the support would've even been seen on the daily.
usd/chf 1 hour:
On the same trade that I mentioned above, you can see another opportunity in the 1 hour. After price had broken 1.0220 and retraced back to it, it formed another resistance at around 1.0275. Naturally it retraced back to it and shot up again to the same support that I mentioned before, 1.0345.
So when I say "touches", it means that I put a limit on the resistance or support that has been broken. If I sound confusing, feel free to ask again. I'll try to explain it in a different way.
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