DislikedHi everyone! What do you think about those trades? Would you stay in? Lucky I'm on demo... The vertical lines were my entries yesterday, at the begining of the Sydney session when they all looked like nice bounce trades... {image} Yesterday : {image} {image} {image}Ignored
I have attached an image of the gbpusd, so you understand what is happening.
If you want to trade on the daily charts then you have to use the month chart as trend, weekly as sub trend. There is the same picture in this thread plenty of times.
The bounce trade is a continuation of a trend, except the gbpusd is 1d chart is not trending, it is range bound since June. You sold at roughly 50% of the the range, if you want to trade range bound markets, then sell at the top of the range and buy at the bottom (use TDI cross for entries), don't do anything in the middle because you will be chopped up by the retracements.
Attached Image