DislikedI make a distinction between "trend" and "direction". For trend I keep myself tuned on the fundamentals behind each pair. For instance, USD is in a clear downtrend (check USD-index), while at this moment, GBP and EUR are biased up in the expectation of upcoming rate-hikes. In parallel, equity markets are getting back the losses of the big selloff during Chinese crisis, leading Yen to a downtrend, too.
In this picture, when GBPUSD, EURUSD, */JPY are falling (against the broader trend, for correction, profit taking, or whatever) I start building long inventories at every expected supports. While this direction doesn't reverse to the direction of the trend, I go for small pips scalping to manage drawdown (well IBFX allows long and short positions in the same pair)
By the time the direction is aligned with the trend, I go on adding longs and start taking profits with big pips only, until a huge resistance is reached, when I dump the rest.
Made 150 pips last time GJ fell and collected from 100-250 pips per lot when the pair resumed the trend.Ignored
not to mention a little pat on the back. what a show off.
BAM BAM BOOM! -bravado