DislikedChannel down looks like good resistance to me + divergenceIgnored
TL test as per chart
trade safe :)
This strategy requires applying trading finesse with knowledge of chart patterns, trends, and SR. Here is what I look at:
I watch the D1 for reference to the bigger picture and also to chart Monthly Pivots. These Pivots are not tradeable in themselves but give a good idea as to the tendency of the pair and danger zones. For instance; I will not be taking any longs over 0.8789 unless it is a SOLID break.
My main trade window is the M30. Here I trade, draw my lines, and make my notes. Price does not always agree with the Pivot lines *exactly.* Some leeway is required around them using other levels and/or intuition. This has been my best week yet. It is amazing how much the pair has gravitated around its Weekly Pivot too.
Traders love to brag about their success but rarely talk about their failures. I'll break that cycle and show you last week:
Two losing trades and three break evens. Almost enough to make someone abandon a strategy! Some of these were due to me not following rules. But proper SL and risk keeps me in the market. The week prior I was +100 pips and had I let one bad week dissuade me then I'd missed this week's +120!
Overall this pair is my new favorite and I'm exclusively trading it. I plan to keep this thread updated as Forex Factory has the best community and I'm looking forward to reading other traders' takes on this unique pair!
Disliked...Anyone noticed with how much fidelity the EURGBP keeps within a range of Daily Pivot levels?...Ignored
DislikedThis pair always scares me....its sudden and unreasonable moves made me lose lots of pips in the past...and as a result of this i cannot make healthy decisions about it...today i had a BUY order...and i just closed it with a small profit without reaching even the 1/5 of my target....and when i saw that almost noone posts on this thread then i confirmed my fear once more )
here is my view of the pair...and as i said i closed the orders....Ignored