Dislikedthanks for this post.
i agree with lots of what u said but what bothers me is that during the recent rally we havent seen much retrace/rebound on resistances...
U can take a look again if you want, there is no serious retrace, nothing more than 50pips...
so i still believe this is pumped, as in many cases Resistances were instantly converted into supports....
EDIT: i would a retrace to 1.2960 as logical if willing to go higher, but i can bet here that i wont happen.
look at the graph now, people just have converted the 1.3007 R into...Ignored
identify the market patterns-> is it momentum trading - > bear run in may, bull run in jan-feb, bull run again in after mid august. maybe u should read up more on market patterns/cycles. so u can zoom out and follows it.
don't think about retracement while trading, retracement is still fight against the trend.
a bull breakout, u add on retrace buy, a bear breakout, u add on retrace sell. u don't think its high u try to sell down, and don't think its low, u try to buy up, this kind of mentality is tiring, u try buying in may how it feel?if it keep dropping from 1.24 into 1.20.
follow live movements.