I am looking for price to reach 1.32000 and bounce. As you can see price has used this zone many times as a spring board so when price has touched it you get a 100-200 pip bounce.. This is what i will be looking for again.
I might hold this trade for more that the 200 pip target as i am looking for the 3rd touch of my trendline. If you have been following me a while you will know that the 3rd trendline touch lined up with support or resistance is the way i trade and it works a treat.
So to clear it up i have an order set at 1.32000, i am not buying upto this area because if price decides to drop and hit my trendline earlier than expected then i have lost out. In trading you MUST remain patient, if you cant then stop trading now and save yourself thousands.
If you feel the need to be in a trade all the time you will always fail, dont be that fat kid that cant stop eating cake.