We no longer use technical analysis in our trades, this is shown as an example.
If this analysis is proven correct and the sell off occurs from here, then we will get a sell signal confirmed with our strategy - therefore we have no need to spend time analysing and plotting on our charts.
Currently however, we have our strategy aligned in a buy position that is already running nicely blue.
If you aren't in this trade, sit on your hands now and wait for the market to show its hand, lets look for a break out to the upside or rejection from here.
The initial rejection already fooled some traders (shown by the wick of the candle) and shown below on LTF.
We just trust and follow our strategy which is supported by our back testing data.
Regards
Darren
If this analysis is proven correct and the sell off occurs from here, then we will get a sell signal confirmed with our strategy - therefore we have no need to spend time analysing and plotting on our charts.
Currently however, we have our strategy aligned in a buy position that is already running nicely blue.
If you aren't in this trade, sit on your hands now and wait for the market to show its hand, lets look for a break out to the upside or rejection from here.
The initial rejection already fooled some traders (shown by the wick of the candle) and shown below on LTF.
We just trust and follow our strategy which is supported by our back testing data.
Regards
Darren