Disliked{quote} I thank you so much to this enlightenment about position trading!! I must commend on your wordy approach to explain things to the newbies like me in forex trading. With reference to the above quote . Please throw more light. Also I want to know whether is relative to the close of yesterday's price? Thanks.Ignored
It is quite simple really. Mark the open price of the current daily candle. Whenever the current price is above the marked level, look for buys. Whenever it is below, look for sells. That's it. Please note that the advice applies to intraday traders. Also, in my opinion, it is meant to provide a guideline to make learning easier. As pipEASY mentioned over and over again, he does not like to predefine his actions and if you look at his live-trade examples, he's very happy to take a bargain trade at the tip of the daily wick as long as he perceives it as a low-risk opportunity.
Best regards,
Barbossa