In yesterday's Forex Market Preview video we took a look at the affects that making simple trading mistakes could have on your trading. In that video I used the double bottom as and example and discussed the importance of waiting for confirmation.
Well for those traders who are looking for an even more conservative approach to getting involved in the markets, the 2618 trade is about as conservative as it gets.
What you'd be waiting for is a move back down into the 61.8 Fibonacci retracement and either entering aggressively with a limit order at that level (or in that zone) or having that be the start of your "Kill-Zone" where you can then look for you entry reason.
If you're unfamiliar with this trade make sure to visit our site as we have a free training video on it. Good luck this week traders. I'm looking forward to seeing if I can throw together a positive week after getting somewhat beat up by the markets this past week.
Well for those traders who are looking for an even more conservative approach to getting involved in the markets, the 2618 trade is about as conservative as it gets.
What you'd be waiting for is a move back down into the 61.8 Fibonacci retracement and either entering aggressively with a limit order at that level (or in that zone) or having that be the start of your "Kill-Zone" where you can then look for you entry reason.
If you're unfamiliar with this trade make sure to visit our site as we have a free training video on it. Good luck this week traders. I'm looking forward to seeing if I can throw together a positive week after getting somewhat beat up by the markets this past week.
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