I always backed my words with demonstrations, which may be erroneous or not. But I make the effort. No write monosyllables wise, they need other people's faith.
Donde hay Patron no manda Marinero
- #85,641
- Oct 22, 2014 12:29pm Oct 22, 2014 12:29pm
- | Joined May 2014 | Status: Trader | 2,733 Posts
Donde hay Patron no manda Marinero
- #85,659
- Oct 22, 2014 3:48pm Oct 22, 2014 3:48pm
- Joined Jul 2013 | Status: Trader | 2,059 Posts
Looks to me like its right at the crux. Its above a broken trend line and on the support of another line that has been hit numerous times. Still looks bullish as it sits atop this area and has been doing nothing but ascending since October 10th. Easier to see here with closing prices as well. {image} {image}
But...
Another 50 pip drop would change the horizon a bit. If you look back a couple weeks ago, all was bearish with a new low, then all of a sudden a 200 pip jump.
Plus the "bullish" trend is very volatile. Volatile trends are very unpredictable. They can change direction instantaneously, not like a non-volatile trend that, even when it pulls back you can expect it to at least come back and make another push. A volatile trend can just turn around and you never see it again...
Like I always tell myself, "I'm one engulfing bar away from being wrong no matter how sure I am of the price direction."
But, anyway, sorry for the long post, but I hope your trades work out. And the good news is, once direction is established more, anybody who's wrong can just jump in the other way
