The currency pair currently in one of the strongest trends. Very likely to reach the sliding parallel (SP) at about 1.16, and then perhaps 1.11 as well. This market may soon retrace to the large-scale 61.8% level. ----------- Disclaimer: There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
I agree with you. This became a very strong trend. Nevertheless, I manged to fight it succesfully in the past 2 years. But it is difficult of course and affords strong discipline. You have to pull the emergency breake consequently when you are wrong. Never hope! Thus it is more convenient to follow the trend.
In my opinion the trend is as strong that it will prevail even unless 1.25 are not broken again. I realized that this is in line with your resistance zone. Good study!
HexVex
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True.. Identify the strongest trend, get the timing right and get in.. Good luck to you too :)
HexVex
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Yes... I like your charts a lot. I make my own copying your technique and it works although I don't think I have the secret ingredient where it works 80% of the time :) But I have less stress using your model or something close to it. I sound like one of those women on washing powder commercials :D
ForceFollower
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Thanks. I appreciate it. :) I don't know which of my secret ingredients would be of any help to you, but I can give you the one that is #1 in my strategy protocol: "I open new positions only in the strongest trends and I do it only with the trend (so I don't fight the trend)". See if you can adapt it to your strategy. :)
Good luck!
alex.a
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^_^
HexVex
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Whoa! Amazing Force chart.. I'm gonna print it and stick on my wall :)
ForceFollower
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Thanks. :) It's a long-term view, just to get a broader perspective how things may develop here.