DislikedI've been following this thread, not very successfully I might add, because I get nervous when it goes way negative, then tend to cut it too soon when it goes positive.
However, can I just ask something, at the mo the trend appears to be down...initially I had a buy set for 800, but it sailed thro that without a blip, and now it's gone thro 765, and hovering below 750...so I'm kind of thinking 700 seems more likely than 800. Is it better to wait and see what evolves? Or go with current down trend and sell instead of buy?
How do you have the confidence that the upward trend is still intact? Given 1600 never held. I find it difficult to have the confidence to make the decision to go long when surrounded by red candles. Then miss the set-up, enter too late, etc.
A bit jumbled I know, what I 'm trying to say I suppose, while the $ is weaker, I feel the euro isn't exactly going to benefit long-term on these highs. So a correction is bound to come about and how do you know that this isn't it. Under the anti hedge strategy how to you trade in ranging markets?
If anyone can understand what I 'm trying to say - thanks for your help and good luck.Ignored
the pull back at the moment is long overdue. the market has been pushing and pushing for some time and now is the draw back that we have been awaiting.
id ppull a longer term fib and look to see where your 50% is at. then check for whole numbers, signs of previous support ect and take judgement from there.
there is no reason not too put a trade in. these last couple of weeks have been a bit tricky. trust what you see and trae it. if it goes wrong then there are plenty of trades in the future to recover fallen soldiers
max