Very optimistic view all the way up to 1.68. That of course is unrealistic, not anytime soon. Why wouldn't you sell if it breaks your support green zone at about 1.63? If you reckon it will go down to 1.61 after breaking the support at this level there are a lot of pips to grab. I've got the feeling you're only looking to Buy, regardless of whether there is a profitable Sell option.
TheSignalyst
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@Helena_FX, Right Helena, I am only looking for buys as per my trading plan (there are many rules that I can't share here) but yeah, I never break my trading plan, even I know that a sell could have been taken that may result in a winning trade.
Helena_FX
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@TheSignalyst, Fair enough, looks like you're quite a conservative trader. Well it did broke the 1.63 level a little, but I am hoping that tomorrow will rise again.
TheSignalyst
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@Helena_FX, thank you for your respectful comment. traders usually try to prove that they are right, and start arguing over the comments. Trading isn't about who is right. It is all about having a well-defined trading plan that is backtested, and proven to give good results. then follow it blindly without any distractions (from social media, fundamental news or other traders opinions)
Best of luck in your trading Helena!
Helena_FX
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@TheSignalyst, Thank you, but I have to say fundamental news moves the market a lot, so they can break any trading plan no matter how tested and proven it has been in the past.
TheSignalyst
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@Helena_FX, Right! that is our job as trader is to put the odds in our favor, so when we win, we win at least double the loss. so that when fundamentals drive the market (and it is not in our favor) it wouldn't affect us much.