Tuesday, 24 June 2014
FX BREAKOUT
I want to draw you attention to what EURusd is doing this morning. You will see the breakout pullback continuation is taking place, that leg is not complete until it breaks the TREND LINE( note the RED LINE.) Now this is what we are doing. We wait till tomorrow because it might not break the line today. It has reached that line already if it eventually breaks the line it might retrace, form hammer or spinning top or form whole body so we are not certain. This is one of the reasons am not trading on daily today
Am watching like a cat to shoot like a snipper. So again we wait to see what will happen tomorrow. Just in case you want to risk, take your profit before the Fib level 61.8.
If you watch properly am on this trade on demo not with my real life account hoping that it might break the resistance. When your price gets to support or resistance you don't hope you wait. for the breakout to happen. QED. Can you now see the patience am talking about.
Subscribe to:
Post Comments (Atom)

No comments:
Post a Comment