This will be a nice long trade for EUROUSD.
We should establish a long term bias for a fx pair and at the same time, we look into a smaller time frame to catch the movements.
Only trading large time-frames is indeed good because it can eliminate the "noise", but we can also maximize our profit by looking into smaller time-frames.
I have come out of a strategy for a trader who has to work during the day:
Open a position according to your bias that is created after analyzing the large time-frames, e.g. daily, weekly, monthly.
Allocate time to catch movements in small time-frames ( using both long and short strategies)
Advantage: Maximize profit, given your technique is accurate.
Even if you lose in trading smaller time-frames, the position that is opened according to the larger time-frames will help you to gain back.
Disadvantage: Suffering loses from both positions. (large and small time-frames).
DISCLAIMER:
Whatsoever discussed ( called "it" hereinafter) is for self-improvement purpose only, it strictly is not a buy or sell call/ buy and sell call.
We should establish a long term bias for a fx pair and at the same time, we look into a smaller time frame to catch the movements.
Only trading large time-frames is indeed good because it can eliminate the "noise", but we can also maximize our profit by looking into smaller time-frames.
I have come out of a strategy for a trader who has to work during the day:
Open a position according to your bias that is created after analyzing the large time-frames, e.g. daily, weekly, monthly.
Allocate time to catch movements in small time-frames ( using both long and short strategies)
Advantage: Maximize profit, given your technique is accurate.
Even if you lose in trading smaller time-frames, the position that is opened according to the larger time-frames will help you to gain back.
Disadvantage: Suffering loses from both positions. (large and small time-frames).
DISCLAIMER:
Whatsoever discussed ( called "it" hereinafter) is for self-improvement purpose only, it strictly is not a buy or sell call/ buy and sell call.