EURGBP LONG with short secondary trade if things go South
I had a very solid week and the market will close in a few hours so I am picky. I want it to drop on my lap.
If we would start the week I might have initiated a small position at the 33 % fib.
I do not need the fibs at all to trade but like curry, salt and pepper it can be useful here and there for confluence.
That being said I respect fibs and I do understand some killer traders use them to pillage the banks.
Same with trader's pivots and all that stuff. I use them mostly to detect any bumpers I can use to hide my stops behind them as they are used by many also and can stop a nasty spike on its tracks.
If we would start the week I might have initiated a small position at the 33 % fib.
I do not need the fibs at all to trade but like curry, salt and pepper it can be useful here and there for confluence.
That being said I respect fibs and I do understand some killer traders use them to pillage the banks.
Same with trader's pivots and all that stuff. I use them mostly to detect any bumpers I can use to hide my stops behind them as they are used by many also and can stop a nasty spike on its tracks.
Trade active
Similar trade taken from support, Unfortunately I only took a paper of this one as I do paper trade a LOT in order to improve.
I put that lofty TP but it is almost a given I would grab all my money at the tip of the arrow.
Be patient and let price come to you.
Paper trade a LOT in order to see how good you are with LEVELS. Levels are everything. A RSI won't stop a big player's assault against your support... but the right key-support level will.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.