EURUSD (20210117)
Updated
Daily Chart:
Short term of bearish is ongoing.
Let's wait for the bullish signal, since the overall trend is bullish.
Short term of bearish is ongoing.
Let's wait for the bullish signal, since the overall trend is bullish.
Note
The price is moving up today. Should we buy?Daily chart above shows that there are consolidation in a smaller time frame.
Should we buy?
Let's wait for a moment for some confirmation in the smaller time frame.
4H chart.
From the chart, it looks like it is a rebound.
It is better to wait for confirmation of the price action to confirm the uptrend and buy.
Do what we know, and trade what we know only.
Ignore those chart that we don't know, these are the noise that will cause us to lose money. Focus on the chart that we know and maximize our profit using that.
Note
Daily chart above. It was a strong bullish yesterday. however, the bullish does not continue its journey. Today it is bearish.
So, it is better to wait for daily confirmation before entering into a trade.
No rush for uncertainties.
4H chart above should at least form a lower high and lower high.
1H chart. Let's observe if lower high can be formed in 1H chart.
My plan is to wait for daily confirmation price action bar, then only enter the trade using smaller time frame price action chart.
Happy trading. Sometimes it is better to do nothing than to trade.
It is hard earn money if that is the profit you earn from the trade.
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