Just publishing this for later reference. I wanted to make use of the play button to validate my areas of support and resistance (red lines).
At the moment I entered a short around 1.1292 and plan to take profit at 1.12. If it drops lower fine. I've made good money at that point. If it doesn't, then it's excellent validation like I planned to see.
At the moment I entered a short around 1.1292 and plan to take profit at 1.12. If it drops lower fine. I've made good money at that point. If it doesn't, then it's excellent validation like I planned to see.
Comment:
That short isn't looking viable. Will wait till London open before moving forward. The S&R lines are looking fine though.
Comment:
Decided to stop posting trade ideas. The purpose of this chart is again validation of support and resistance lines. For this reason, trade ideas are useless. Once again, This is just a reference point for validation of support and resistance.
Comment:
Almost a month later.
This has been interesting. The lines look reasonable. Though not exact, they do well at identifying zones of support and resistance.
This has been interesting. The lines look reasonable. Though not exact, they do well at identifying zones of support and resistance.