- Search Metals Mine
-
Questions for those who trade with S/R lines
Started Nov 12, 2010|Trading Discussion|21 repliesI'm asking this those who trade S/R lines not S/R zones because precision is important to me ...
I'm asking this those who trade S/R lines not S/R zones because precision is important to me ...
Totally agree with this, and that is the reason why i don't use them.
Dollar index came to important resistance, that gives euro chance to retrace from this drop. image
IMO, longterm i'm bearish with euro, i posted this pic before image this bearish divergence is in progress, and i think real retracement of this 1500 pips up move is begun. Also, there is (daily) bullish divergence on usd index, and bearish on ...
But breakouts are usually fast till candle closes everything is over
And usually don't retrace to resistance 'cos they do bear flag and then again fast down move.
I don't have it either, so for that purpose i use admiralmarkets demo, there is eur index too. Their m1 candles are terrible, but i only look for higher timeframes.
This smaller chanel needs to be broken to the upside, and i believe it will be 'cos there is a bullish divergence. image
It came to daily falling trendline. 61% fibo is near, it's doesn't have that much space to grow without a retrace. image
I think the most important is preservation of capital, so we should be very selective when entering a trade, it should be entry based on higher time frames but entered on lower time frames, high probability entry, where is confluence.
Well said, discipline is the hardest part. It's really hard to resist not to trade.