Dislikedlookin good there mike.... hmmm i was thinking about going long at 1.0841 but the ADX looks more than bad for a Long position as far as im concerned..... what do you say guys? {image}Ignored
Swatti, personally I really don't like using lagging indicators to try to predict future price movements. I only use the ADX on the 1-minute chart as a filter to enhance the odds of a trade I've already planned based on prices, value etc. That aside, I'm not opposed to a long position from 1.0841 as the 61.8% fib level is sitting right there. Having said that, the level has been fairly well "used up" so far (several touches by price today). I'd personally wait for the 38% fib level just below 1.0825 for longs. Just my opinion though of course!
Mike
Understanding yourself is synonymous with understanding the markets.