HEY MAN, GO WHERE NORTH OR SOUTH?
as a learner look at the longer term time frame for trades ..
here is 60 min
1) broken the trend line but only just
2) we know that last fews day end of US session has been acting really strange with large moves up and down , so in order to determine that we really have broken the trendline i would be waiting till asia.
3) Asia 90% of time reverses US session ... this may take us above the trend line
4) the 1-2-3 sell formation with fib extensions plotted gives us support at 144.30 . I closed last short on this level. If this breaks then downside targets
are shown on the charts. Work between them , taking partial profits as the trade works for you.
try to follow the swing traders in here , using the shorter term time frames to get into your trade. ( like a 15 min chart to get into a trade using a 60 min chart)
A rule of thumb that a futures trader told me is that is you want to go short at say 144 , and you have a 100 pip stop , wait and try to get into the trade where you would put your stop (145). It works
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