Levels
Here is another look at levels
This time NZDUSD, the level is right at the base of that move, now don't confuse potentially great levels with they will always hold because there great levels they dont always hold but this is where probability comes into trading, notice that price accelerated from this level then spent a couple of weeks in a range and now its breaking down and guess where its coming too.
Patience is one of the big threes with trading, as I have already said I have a trade in the market short from 6830 to 6735, why this trade because of these reasons:
1. 6830 is confirmed break of minor level at 6840
2. The market needs orders to be filled, banks have to fill orders so this is where you use what the market has to do and that's come back to this level to get fills, price is going there no doubt about it
3. I don't care what the reaction at 6735 is cause my trade is over by then.
Lets assume the reaction is bullish, price will probably retest it before going higher anyway giving me the chance to get in.
See how this is high probability very low risk
Here is another look at levels
This time NZDUSD, the level is right at the base of that move, now don't confuse potentially great levels with they will always hold because there great levels they dont always hold but this is where probability comes into trading, notice that price accelerated from this level then spent a couple of weeks in a range and now its breaking down and guess where its coming too.
Patience is one of the big threes with trading, as I have already said I have a trade in the market short from 6830 to 6735, why this trade because of these reasons:
1. 6830 is confirmed break of minor level at 6840
2. The market needs orders to be filled, banks have to fill orders so this is where you use what the market has to do and that's come back to this level to get fills, price is going there no doubt about it
3. I don't care what the reaction at 6735 is cause my trade is over by then.
Lets assume the reaction is bullish, price will probably retest it before going higher anyway giving me the chance to get in.
See how this is high probability very low risk
99% of Traders fail, so don't follow the herd