back every few days ?
Hypothetical scenario.
1. Find 10 pairs that are currently in an uptrend as seen on the daily chart AND have traded at least 50 points higher at some point in the last 4 weeks than they are currently.
2. Go long 1 lot on each pair with take profit set at 50 points. Turn off the monitor , walk away and check back every few days.
Barring any unforeseen huge geo political events (Russia invading the Ukraine) , unexpected rate changes, or important economic reports that come in way above or way below the analysts expectations then there should be a high probability of the primary trend continuing or staying in the range and returning to the previous price levels. Whether it takes 3 days, 3 weeks or 3 months I would think there is a strong possibility of at least 8/10 of the pairs regaining the previous price levels (unless they were yearly highs/lows).
Thoughts ?
Hypothetical scenario.
1. Find 10 pairs that are currently in an uptrend as seen on the daily chart AND have traded at least 50 points higher at some point in the last 4 weeks than they are currently.
2. Go long 1 lot on each pair with take profit set at 50 points. Turn off the monitor , walk away and check back every few days.
Barring any unforeseen huge geo political events (Russia invading the Ukraine) , unexpected rate changes, or important economic reports that come in way above or way below the analysts expectations then there should be a high probability of the primary trend continuing or staying in the range and returning to the previous price levels. Whether it takes 3 days, 3 weeks or 3 months I would think there is a strong possibility of at least 8/10 of the pairs regaining the previous price levels (unless they were yearly highs/lows).
Thoughts ?