Disliked{quote} Hi Lookleft, For the AUDUSD and NZDUSD sell trade, I see that you entered when price seems to be in consolidation. Are you expecting that the consolidation would break out to the down side? Could you explain a bit more? Thank you.Ignored
Yes as I couldn't see any strong S/R in those areas and both H4 and D1 was showing big downward momentum on both pairs. When price consolidated I noticed there was more rejections to the upside so I felt price would continue down after it had a little 'rest'. The big spike on the aussie was a bit scary but confirmed my thoughts.
I always look carefully at consolidation and see which side is showing the most wicks and prepare to trade the other way if it is in the direction of the trend.
Hope that helps
Never argue with a fool; onlookers may not be able to tell the difference.