Looking for pattern for entry to go long, similar to the one on the chart
Kommentera:
Always wait for the market to come to you, and trade of what you know, not what you think is going to happen. Even if them means abandoning your chart and waiting for new trade idea.
Kommentera:
Conservative trade would wait, if that price followed that pattern, most pressure would be on the up side giving you less chance of losing money. However, you can always trade of your original buy or sell zones, but thats not how i trade.
Kommentera:
Audusd is still looking like a bear market on the long term, so its always important to wait for precise reversal signs. Hitting the buy zone and just heading up doesn't mean the trade is going to continue in your favour until it hits the profit. So you need to watch whats going on in the shorter time frames to exit if it looks like a pull back rather than a reversal. At least you get a small profit rather than a loss.