Sitting at a big round number.
I have found that big round numbers tend to draw out the orders. This has been confirmed by ex-bank traders I have chatted with and my observing the market over the years. I tend to think of support and resistance as zones, not a hard number.
Remember, the only way you can win is if other traders enter orders on your side of the order flow. So the question I ask is not what I see, but what other traders see. Right now 1.0950-1.10 has held as support. The next level of support is around the 1.08 area. Is it a good time to get long? That depends on your trading style
EDUCATION
Most books or blog post are titled, how to win with X, or how to succeed in Y. I tend to invert things. I have this page in front of me everyday. Hope it helps you.
How to fail at trading/investing
Be impatient and take trades that do not have an edge.
Trade with too much leverage.
Take small profits, cut your winners short.
Hold onto to losing trades, hoping they will come back.
Don’t use checklist, they are too simple for your brilliant mind.
Be lazy, don’t go to work on time.
Remember, the only way you can win is if other traders enter orders on your side of the order flow. So the question I ask is not what I see, but what other traders see. Right now 1.0950-1.10 has held as support. The next level of support is around the 1.08 area. Is it a good time to get long? That depends on your trading style
EDUCATION
Most books or blog post are titled, how to win with X, or how to succeed in Y. I tend to invert things. I have this page in front of me everyday. Hope it helps you.
How to fail at trading/investing
Be impatient and take trades that do not have an edge.
Trade with too much leverage.
Take small profits, cut your winners short.
Hold onto to losing trades, hoping they will come back.
Don’t use checklist, they are too simple for your brilliant mind.
Be lazy, don’t go to work on time.
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