About meWe over complicate trading. If you stick with the rules and discipline it is no different than any other art to conquer. The Legends in all walks of life practice discipline and consistency. Trading is no different.
Possible flag forming... If so, we will be buying on the dips near lows of the flag for 1.1000/1.11000 price target. We will monitor our stop loss around the 0.618 Fib for about a 1:4 risk reward trade.
Set it and forget it, Use no more than 2:1 leverage (1:1 in most cases) and you will be profitable.
We have had a long sideway consolidation. Our bias is still Short on this pair. We see two ways that can play out for a short play here. Manage your trade and use little to no leverage if you want to sleep well at nights.
We have been waiting for a short trade out of this triangle but the rally in gold might have made it harder to get that momentum. Can we still drop? Of course, it can do anything. But over the years, I have also learned to implement not only the use of Stop losses but also as important is the use of "TIME STOP".
It is never a bad idea to be on the sidelines...