EURHKD: Opportune Longs, But For Intraday Trading Only! #FX
Traders
Possible longs off what seems to be a good level, but there are some issues with the trend here. It proves too risky to get any positions and keep them for the long hold because
1:The target isn't expansive. The target is nearby, and we're already near strong resistance levels.
2:We're in a minor zone overall. The levels aren't as integral as I would like for long term holds.
Saying this, theres no reason why you can't use this pair for intraday trading and make good money, but the trend is gone in my opinion and the targets are too limited for longer term holds, hence my opinion this is only good for intraday trading.
I'm not saying it couldn't break these levels and prove to go far, but I don't see it as a likely scenario, and even if it does.. It was too risky to put money on the line to find out.
Thanks,
Tom
Possible longs off what seems to be a good level, but there are some issues with the trend here. It proves too risky to get any positions and keep them for the long hold because
1:The target isn't expansive. The target is nearby, and we're already near strong resistance levels.
2:We're in a minor zone overall. The levels aren't as integral as I would like for long term holds.
Saying this, theres no reason why you can't use this pair for intraday trading and make good money, but the trend is gone in my opinion and the targets are too limited for longer term holds, hence my opinion this is only good for intraday trading.
I'm not saying it couldn't break these levels and prove to go far, but I don't see it as a likely scenario, and even if it does.. It was too risky to put money on the line to find out.
Thanks,
Tom