Through my experience in looking at the charts I am always trying to improve my trading skills, in this trade I would like to show you how I manage to find my best entry zone where I predict the market's turning point.
- We can see that the market is approaching a Daily major structure with a nice AB=CD move aligning almost perfectly with the 1.27 Fibonacci retracement. The "D" move is ending right inside the Daily structure area (Red BOX). I have set my perfect entry box (in green) at the confluence of the Fib retracement (1.27), "D" move of the AB=CD and the close of the Daily candle that set the begining of the long term structure (Red BOX).
We can also expect the RSI to enter its the extend area. Let see what happen and happy trading.
Happy trading
Trade closed: stop reached
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Comment
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Forget the losing trades and keep going for the next opprtunity !