DislikedIf it breaks up above trendline then 1.9700 could be on. If you are not in a position now it could be dangerous to try and get in. Stoploss must be well out of the way. I will wait for a possible testing of the 89SMA and 200SMA and go with a trendcontinue signal from the MACD. If it does not give a clear signal I will sit till it does. I rather make 5 good deals a month giving 200 pips than 10 deals also making 200 as the emotions will be very mixed.Ignored
This is a great example of patience and discipline along with trade planning! It is so easy to want to jump on board after a pair has moved (we are afraid of missing out) only to find ourselves in a losing trade. Yet, it is so very hard to excercise control and wait for a trade to come to us. Sorry I'm speaking in generalities...I should specify myself and past trading history. It is only recently that I have discovered that it is possible to sit back and wait for the trade to come to me rather than chasing.
This 4 hour system is great because it gives us time to plan our trades rationally and to assess the R:R in an analytical manner! Let's remember to excercise patience....pass on the not so good trades....follow our plan...and before you know it, our trading accounts are filled with pips!!!!!!!