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Patience

EU Potential Long Position Price is moving within an ascending channel which is showing strong rejection of the support and resistance of the channel, alongside two key areas of resistance illusrated by the purple areas of the chart. After a spike in price on the 10th of September, illusrated by the 20EMA crossing the 200EMA in an upwards momentum. Since this price movement, price has been fluctuating in a narrow range of two key resistance levels. It is likely that after this consolidation price will come down to test the lower level of resistance before making a strong bullish movement (illusrated by the red arrows) or price may become bullish and retest the above resistance level before making new HH's. Patience will be key to profiting from one of these two potential set ups.
Long
by Tical1
JOURNEY SOUTH?The most important part of trading - especially with true trend-following - is stalking your prey very very carefully. The next is controlling loss. Trend followers suffer heavier controlled losses - but also enjoy far greater gains - than those who rely on targets-based methods of trading. It is certainly not for 'everybody'. Only about 20% of all traders are true trend followers. Trend continuity trading is not trend-following. Of high importance with 'stalking' any particular trend - because losses can be heavier - is the entry point. For example the ideal entry point in the chart snapshot would have been close to 26000. Anything much lower than that means risking heavier losses. I'm often asked if A, B, or C instrument is heading north or south. Most traders when they ask this sort of question are not thinking in terms of time frame. They're mainly looking at price and thinking R:R ratio. In trend following all you can do is control the loss. You do not know how much you may eventually gain. That's why it's very scary! But this is not a tutorial on trend following techniques or strategy. Overall though, one just has to pick a trend control loss and follow on that chosen time frame. It could be a lowly 1 min trend to a higher 1H trend - whatever you want so long as you can take the loss without flinching. I almost never get involved with higher than 1H trends these days. For those new to trend-following, from my experience, a simple 5 min trend can take up to about 2 days before it reverses. A 15 min trend can last several days. 1H trends can last a couple weeks. Of course, they can be very short lived too. Trend followers will also use harmonic patterns and other methods to assess key entry points. So 'we' don't have a problem with other methodologies. We'll use anything to get a pound of flesh out of the markets. But following the trend is the big thing. Disclaimers : This is not advice or encouragement to trade securities. No predictions and no guarantees supplied or implied. Heavy losses can be expected. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
FOREXCOM:US30Education
by Captain_Walker
USDCHF - Pullback expectable - Waiting patiently...Hi Traders! The market is in a Downtrend. Key Areas: Trendline "H4-Trendline" - descending, resisting 200 Exponential Moving Average Category: - Waiting for a Pullback - Patience for a good Setup Description: As you can see, whenever the market reaches the 200MA, it is going down. But now it is far away from the 200MA. That means that the price should wait or Pull back until it gets the Support from the 200MA. In addition, it is also away from the H4-Timeframe. So, in conclusion we are waiting for the next Moevements of the market. We recommend to wait patiently for a clear Trading Setup. Thanks and successful Trading :)!
by swissmoneymakers