ok... had a quick stab at that pair... for me risk reward ratio, SL would be 100 or so pips, and movement is still in a strong down trend, therefore there will be retracement of another possible 50/80 pips, who knows for sure.
at the moment it is creating HL and LH so we are waiting for a break out, either continued down trend or new highs.
for me... side lines
at the moment it is creating HL and LH so we are waiting for a break out, either continued down trend or new highs.
for me... side lines
Hello to all, i am new to forex and to trading but i am very interested in international affairs, global economy, money policy, other countries and cultures, so fx would be in line with my interests.
I dont like Indicators (crazy), expert advisors (dumb), perfect systems (endless) or scalping (wearisome).
At the moment i feel like learning everything i could get my hands on about the foreign exchange is more fun than trading itselfBy now i spent about 3 months reading fx but only traded 10-20 trades (on demo) or so, also im interested in the history, i'm reading now a book from 1830 about the economy and currency Issues at that time
On my journey i found this thread and i hope you dont mind to let a totally newbie participate to learn by doing and catch a few tricks about candlesticks.
I also hope you will forgive my terrible mistakes that i will make.
Here is a chart where i think it has a morning star pattern.
and if it breaks 1.0375 it could go to 1.0572 or maybe just to 375 and then down from there.
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