This pair has been on my watchlist for a while now and I have taken nice positions on it whilst waiting for this point. As you can see the pair is running in a bearish run on the weekly timeframe.
It reached a good strong level of support today and from there have placed my positions. The pair is slowly coming back up now and I anticipate it will come back up to test the resistace level and either break through or reject and push price back into a consolidation zone until it reaches the weekly trend line where I will then look to place a further short position.
Trading does not need to be a chart of lines all over the place and looking for patterns. Finding a simple trend and looking out for strong support zones can make you the money you desire.
If you are struggling with your trading, feel free to drop me a message.
It reached a good strong level of support today and from there have placed my positions. The pair is slowly coming back up now and I anticipate it will come back up to test the resistace level and either break through or reject and push price back into a consolidation zone until it reaches the weekly trend line where I will then look to place a further short position.
Trading does not need to be a chart of lines all over the place and looking for patterns. Finding a simple trend and looking out for strong support zones can make you the money you desire.
If you are struggling with your trading, feel free to drop me a message.