In the last post i put up the lines from last week and how price reacted to them this week. Some lines had clear cut rejection while others not so much. But whats interesting about it all is that all the lines had some sort of rejection close by. What's even more interesting is that earlier in this thread i showed in a detailed manner exactly how i adjust my lines in accordance with new price action.
Tuesday, October 30th, price approached the 1.2990 line but stopped at 1.2980 and turned around. If i decided to move the 1.2990 line down to 1.2980, would i have had a profitable trade on Thursday, November 1st, after having so much rejection? Would i have to risk much? Is the setup for the trade easy to see?
Can one create a low risk entry strategy around such occurances?
Who knows.
This weeks lines. Lets see what happens next week.
Tuesday, October 30th, price approached the 1.2990 line but stopped at 1.2980 and turned around. If i decided to move the 1.2990 line down to 1.2980, would i have had a profitable trade on Thursday, November 1st, after having so much rejection? Would i have to risk much? Is the setup for the trade easy to see?
Can one create a low risk entry strategy around such occurances?
Who knows.
This weeks lines. Lets see what happens next week.