EURUSD : The journey & methods
Updated
Our journey in trading FX will bring us to learn many exciting 'methods' that are truly satisfying. I learned. And when I do, it is very satisfying.
We all started with playing the Trendline, the white line we see on the chart. It is easy to use and everyone likes it because It makes sense. So now the price is BELOW the while line - a SELL trade is triggered. The problem with this is often being too late and at the wrong place and time. Sell when the price is LOW!!!
Then of course those who subscribe to Volume Profile would be waiting to BUY instead @ 1.0525 - the POC.
To those who have been using ABCD, then it is waiting for a reaction at the D - perhaps waiting for the price to move back up @ 1.0568. As we can see, this method is the opposite of those playing the trendline.
Now my journey has brought me a bit further. I am more interested in the yellow downward-sloping line. I am waiting for the price to move back ABOVE the line. Price broke above once but it failed to rise. I am waiting for it to happen again.
How this yellow line comes about is TRULY a MYSTERY not being found yet anywhere.
I hope your journey has been as satisfying as well.
Good luck.
We all started with playing the Trendline, the white line we see on the chart. It is easy to use and everyone likes it because It makes sense. So now the price is BELOW the while line - a SELL trade is triggered. The problem with this is often being too late and at the wrong place and time. Sell when the price is LOW!!!
Then of course those who subscribe to Volume Profile would be waiting to BUY instead @ 1.0525 - the POC.
To those who have been using ABCD, then it is waiting for a reaction at the D - perhaps waiting for the price to move back up @ 1.0568. As we can see, this method is the opposite of those playing the trendline.
Now my journey has brought me a bit further. I am more interested in the yellow downward-sloping line. I am waiting for the price to move back ABOVE the line. Price broke above once but it failed to rise. I am waiting for it to happen again.
How this yellow line comes about is TRULY a MYSTERY not being found yet anywhere.
I hope your journey has been as satisfying as well.
Good luck.
Trade active
Good luck.
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