Another thing is that this diamond was formed at the top of the up trend - thatīs why I expect more likely down movement. I could be wrong, of course, anyway - if there is a break up or down it ś mostly worth of trading.
Another thing is that this diamond was formed at the top of the up trend - thatīs why I expect more likely down movement. I could be wrong, of course, anyway - if there is a break up or down it ś mostly worth of trading.
i messed up earlier and chose to sell at 1.4372 (eur/usd) and it went up for the last couple hours. Finally getting back down as i hoped, so i bought other sell positions and capitalized overall. Im a newb and can't wait to learn a whole lot from this forum. Been doing alot of reading, and wont stop, need to learn terminology and such trading plans, etc.. etc. how to really use fibonacci also. So far ima practice for 6 months before i go live, and while i save 10k. But not to rant. Good trading people.
I like to trade in accordance with the main move of the day, week,etc,
I look at the price at the open of the day , how it moves through Asian section to the beginning of Europe section - if e.g. the low or high of the day was formed first. Itīs simple - when new high of the day is formed first and the low of the day secondly , the main move of the day is down .
And vice versa. During day traiding new main move of the day could be formed. When this occurs, itīs sort of a warning for me that pair maybe intends to do something different. So, I am trying to stay with the main move of the day. Itīs always better to go with the main move than against it. Sometimes itīs not possible - when one sees nice set up that doesnīt correspond with the main move. ī
Trades based on Market Geometry and Price Action
so, if this pair (CHF/JPY) goes up today...Iīll put it on my Sh.t list also.....
