Hi Redsunfx
Trends are not only up or down they can be sideways, here is your chart with my interpretation of what is going on and how I would look to trade it (not that I trade these size time frames/scales, but a chart is just a chart), I would use the lower time frame to get better entries and to warn of when to adjust my trades, The trend lines I have added for you, there really is no need for them to spot POSSIBLE OPPORTUNITIES, I find the scouts, price/market structure and impulses help me with what I have found I need to know, but as Michael has said we all find our own way with time, patience and practice. It is all in the thread. hope this helps.
p.s just a thought…. there is more than one pair to trade so if you do not like this type of trend why not find one you do like and trade that instead.
Regards
Phil.
Trends are not only up or down they can be sideways, here is your chart with my interpretation of what is going on and how I would look to trade it (not that I trade these size time frames/scales, but a chart is just a chart), I would use the lower time frame to get better entries and to warn of when to adjust my trades, The trend lines I have added for you, there really is no need for them to spot POSSIBLE OPPORTUNITIES, I find the scouts, price/market structure and impulses help me with what I have found I need to know, but as Michael has said we all find our own way with time, patience and practice. It is all in the thread. hope this helps.
p.s just a thought…. there is more than one pair to trade so if you do not like this type of trend why not find one you do like and trade that instead.
Regards
Phil.
-be careful about what you allow to be put in your mind-