To help out some newbies, in forex its a little like hunting, you have wait for deviations from the mean, the more deviation from the mean, the greater opportunity for a technical failure about to occur, some would argue to hop on the deviation from the mean and to ride the deviation, but this is extremely risky 80%-90% of the time. If a deviation from the mean occurs and it breaks through resistance wait for another resistance level to be tested, usually only 1-2 fail, but very rarely a third unless its a news driven event.
This could be applied to any time frame your trading. Another word for deviation from the mean would be called a 'spike'. Most of the time the spikes thrash around 10-20 pips on the intraday chart in a quiet market. If more then 2 resistance levels the danger zone occurs, where fading a deviation from the mean is extremely risky and the market trends for the rest of the session spilling over into the next.
This could be applied to any time frame your trading. Another word for deviation from the mean would be called a 'spike'. Most of the time the spikes thrash around 10-20 pips on the intraday chart in a quiet market. If more then 2 resistance levels the danger zone occurs, where fading a deviation from the mean is extremely risky and the market trends for the rest of the session spilling over into the next.
Price is the only indicator.