Very interesting idea, but I am very confused about the trendline which you have drawn... it's very inaccurate. You can't make trendlines out of anywhere to fit your trading/idea purpose, for people who are learning forex this can be very misleading. Currently, this particular pair is going into a range and there is no clear indication where the pair will go next. From the resistance which has been recently formed which was used as support holds strong, so there is a stronger indication that this pair will go down further. The lower timeline indicates this also.
I'd suggest anyone potentially following the idea is to make sure that the pair breaks out of range on lower timelines before committing further.
trader_grl
⋅
@Matl101, ok! nice to hear ur opinion....i'm not a financial advisor, signal sender, or any kind of trading god with worshippers! Nor do i claim to be! I am learning (clearly stated in my profile and all trades - hence the trade with caution make ur own analysis statements), marking and sharing my own personal opinions and ideas for my own personal growth and analysis (having a visual place to reflect on my trades on my personal profile). Im not sure why you think sharing a personal idea is misleading...its my idea...from me for me! A person is welcome to see my idea and take it or leave it but a person should always be accountable...have their own mind and follow their own opinions from their own database of knowledge, not just as a trader but in life in general! If people cannot form their own opinions and will follow blindly, they simply shouldn't be trading! Remember...opinions are not facts :)
Well, I never mentioned anything of that sort. You provided an idea, I'm here to give you constructive feedback :) and giving a warning to individuals who are looking to potentially enter such trade. If it was from you to you, you would have not shared it public, but kept it private, might be worth doing that to avoid constructive feedback :)
Opinions are not facts true, but data is facts and unfortunately, this particular idea doesn't follow the data accurately :) However, best of luck to your idea, don't get discouraged! We are all here to learn :)
trader_grl
⋅
@Matl101, Keep giving constructive criticism, its always welcomed, not an issue...ill always have an opinion tho haha! Never discouraged! Right or wrong, i do so on my own accord and that is the beauty of having an independent mind! Also, i like to share my stuff publicly, its nice to share, its choice to take or leave em...have a gd 1
I'd suggest anyone potentially following the idea is to make sure that the pair breaks out of range on lower timelines before committing further.