Prices are below KUMO Lagging span broke its own KUMO Prices are below the trend lines Resistance around 0.89700 I wouldn't trade if prices enter the red triangle (uncertainty)
Wait until the Lagging span crosses down the trend line before selling
Thank you for commenting! Actually the trade plan was that the laggin span had to cross down its own trend line which was not the case. Since the prices are now in the "triangle zone" I would wait to see if it goes down and validates the plan or breaks the trendline. in this case the plan would be invalidated.
It is really important to wait until the LS (lagging span) confirms the move or not. In this case it has not, so we don't enter in the trade.
Does that make sense?
ForexWow
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Nicely explained post ! But as it has now broken its resistance at 0.89700, is the above plan invalidated?
It is really important to wait until the LS (lagging span) confirms the move or not. In this case it has not, so we don't enter in the trade.
Does that make sense?