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How would you trade this formation?
forex_trader_236107
Ahli sejak Mar 10, 2015
116 hantaran
May 01, 2015 at 13:54
Ahli sejak Mar 10, 2015
116 hantaran
Ahli sejak Oct 21, 2012
6 hantaran
May 02, 2015 at 09:20
Ahli sejak Oct 21, 2012
6 hantaran
My experience with trading these situations is... just follow your original trade plan.
Price wasn't behaving as it was in the last few days. Very whip-sawish/no clear trend on the 1 min chart. I hypothesize that this correlates with trend reversals, though I can't be sure without doing testing.
But in reality I followed by trade plan and tried to go long several times. Didn't work out because of the whipsaw and took some losses (3% total). One of the worst sessions I've had. The great London Open balanced it out though. :)
Price wasn't behaving as it was in the last few days. Very whip-sawish/no clear trend on the 1 min chart. I hypothesize that this correlates with trend reversals, though I can't be sure without doing testing.
But in reality I followed by trade plan and tried to go long several times. Didn't work out because of the whipsaw and took some losses (3% total). One of the worst sessions I've had. The great London Open balanced it out though. :)
Ahli sejak Oct 11, 2013
775 hantaran
May 04, 2015 at 04:40
Ahli sejak Oct 11, 2013
775 hantaran
markets can become irrational at times, especially during news announcements.
forex_trader_236107
Ahli sejak Mar 10, 2015
116 hantaran
May 04, 2015 at 12:16
Ahli sejak Mar 10, 2015
116 hantaran
alexforex007 posted:
markets can become irrational at times, especially during news announcements.
I would agree with you 100%, but they only being irrational when we have expectation to what they should do. Simply look at the formation which I have posted above. No matter what tf you trade, the same formation will appear, although news on the formation above caused the drop, it simply speed-ed up the process in which it occurred.
Once I am done trading today, I will share some things which hopefully people will take interest to. It is so sicking how forex is mostly about 'Selling EA's' then people trying to profit by themselves. If you can learn how to look for the patters and ONLY trade those patterns, then your account will reflect it.
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