Market direction can't be predicted, study after study has shown this. Besides, anyone who has taken even a freshman econ class knows that if the market could be predicted, the market would cease functioning. The market exists because there are buyers who think price will go up and sellers who think price will go down.
If everyone knew prices were going up, there would be no sellers, so you couldn't even get your buy order filled. Likewise, if everyone knew the market was going to drop, you couldn't get a sell order filled.
What to do? Either don't trade or use a non-directional method. I never attempt to predict price direction because I know that's an exercise in futility. Instead, I place both buy and sell orders and wait to see which get filled.
You should consider doing something similar. Trying to predict the market is a waste of time and will cost you dearly.
Market direction can't be predicted, study after study has shown this. Besides, anyone who has taken even a freshman econ class knows that if the market could be predicted, the market would cease functioning. The market exists because there are buyers who think price will go up and sellers who think price will go down. If everyone knew prices were going up, there would be no sellers, so you couldn't even get your buy order filled. Likewise, if everyone knew the market was going to drop, you couldn't get a sell order filled. What to do? Either don't...
Ignored
I absolutely agree with you there is no body who can certainly say this particular pair will move to an exact point .However I say anyone that can predict the direction of a currency pair with absolute certainty over a given period of time has luck with him.
As sometimes you could be correct if you boldly predict that a pair will move to a level with absolute certainty. but at times there will be other times when the market doesn't just go your way. That is why we must face probabilities, because no one knows for sure what will happen next in a given currency pair as I learnt
Either don't trade or use a non-directional method. I never attempt to predict price direction because I know that's an exercise in futility. Instead, I place both buy and sell orders and wait to see which get filled.
Ignored
You are still trading direction; you're simply deferring your direction decision to a range breakout trade. If you're adamant not to trade direction, you need to investigate option straddles, and then you can trade pure volatility.
Try looking at 28 pairs in your terminal. You should see some correlation, to improve the effectiveness, use multitameframe analysis and multi pair. You should see something interesting. But how you want to trade is completely up to your strategy ans systems.
