DislikedIts the price action to the fib levels whether its the inner or the breaks of the high and low once it goes into a trending move when Im trading Intraday or Intraday scalping. More of a position trade I will place buy and sell limits ahead of prices direction at the bounce or rejection points. Thinking about it too long will prevent you from getting in at the optimum point but is much more risky...Friday I had Buy limits sitting at 1.9720, 1.9700 and last ditch at 1.9650, all 3 were picked up and I closed them today once price reached the Intraday levels of Friday....assuming the downside pressure will continue, price will most likely fail at this point(closed all 3 at 1.9760) due to this thought and price action now that they have been tested. My exit from those would have been a break of 1.9590 along way to consider a stop but its the risk you take....forex is gambling and high stakes but you gotta play to win and those are the stakes.
Now I am poised to take the next direction price takes as I look at everything reset now and its in the hands of the market movers to select a direction...price action from here will detirmine their decision or the winners of this battle in the never ending war over up or down. I took a scalp short thinking they could push now if they wanted to short but the last candle here changed my mind and I closed it for BE, next scalp is a long from 1.9668 if we hit it....low lot size, but they gave me plenty to burn the rest of the day...its just playtime now.Ignored
Just Trade It