eu is in sideways channel 1.3820 to 1,3840 on an up day so far , supply is there BUT market does not appear ready to drops right now. The safe bet .. wait for 1,3820 to break and then look for a downward trend to form on a 5min , entering in that trend on an effort to rise. For me on an up day i will ONLY play buy dips , until the days range is complete , yeah i miss a few trades but overall has saved my butt many a time
Picking tops and bottoms is to high risk IMHO....in somethig that ranges 130 pip a day we can let the 1st 40 slide and grab the back 90 once the trned has formed.
Not saying T is not right BUT waiting for the downward trend to form is way safer trade.
Do not forget trading is not about being right or wrong it is about risk management
If you want to get a better understanding of this , go back in your charts and look how many pin bars there are on daily and how many solid ranges bars there are with wicks of only 30 to 40 pip off days range high / low. The solid range bars are about 90% and the pin bars 10%... so trading with days direction way safer
Picking tops and bottoms is to high risk IMHO....in somethig that ranges 130 pip a day we can let the 1st 40 slide and grab the back 90 once the trned has formed.
Not saying T is not right BUT waiting for the downward trend to form is way safer trade.
Do not forget trading is not about being right or wrong it is about risk management
If you want to get a better understanding of this , go back in your charts and look how many pin bars there are on daily and how many solid ranges bars there are with wicks of only 30 to 40 pip off days range high / low. The solid range bars are about 90% and the pin bars 10%... so trading with days direction way safer
DislikedNice call..
clues on the continuation of this retracement?
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