Im enjoying this pairs UPTREND and CONSISTENCY!
Spending time just watching the market move has changed my trading plan/style for the BETTER! Some people like to trade multiple pairs - i find that it's too much to memorize, too many moves to pay attention too and too RISKY... for MY learning style!
Sharing my analysis on here helps me absorb what i see in the market by having to explain and TYPE it out!
LOOKING AT THE 3HOUR CHART:
Price has approached a VALUE AREA -THE DAILY UPPER TREND LINE- price is also right in the middle of my trading zones (i wont touch it until it breaks the upper trend line)
LOOKING AT THE 1HOUR CHART:
Price is in a small range - price has REJECTED the lower range 2 times and the upper range 3 times
LOOKING AT THE 15MIN CHART:
I am waiting to see how price will react to the lower range again
_________________________________________________________
-will price create a LOWER LOW and head down further?
*** IF SO, i'll wait for price to retrace lower towards previous VALUE AREA @1558.50 OR LOWER @1547.00 (previous RED ZONE)
-will price reject the area again and head UP and make a HIGHER HIGH?
*** IF SO, i will place a BUY LIMiT at the BREAK AND CLOSE above the small RANGE (above previous high) @1576.00
Spending time just watching the market move has changed my trading plan/style for the BETTER! Some people like to trade multiple pairs - i find that it's too much to memorize, too many moves to pay attention too and too RISKY... for MY learning style!
Sharing my analysis on here helps me absorb what i see in the market by having to explain and TYPE it out!
LOOKING AT THE 3HOUR CHART:
Price has approached a VALUE AREA -THE DAILY UPPER TREND LINE- price is also right in the middle of my trading zones (i wont touch it until it breaks the upper trend line)
LOOKING AT THE 1HOUR CHART:
Price is in a small range - price has REJECTED the lower range 2 times and the upper range 3 times
LOOKING AT THE 15MIN CHART:
I am waiting to see how price will react to the lower range again
_________________________________________________________
-will price create a LOWER LOW and head down further?
*** IF SO, i'll wait for price to retrace lower towards previous VALUE AREA @1558.50 OR LOWER @1547.00 (previous RED ZONE)
-will price reject the area again and head UP and make a HIGHER HIGH?
*** IF SO, i will place a BUY LIMiT at the BREAK AND CLOSE above the small RANGE (above previous high) @1576.00