Quote:
|
Originally Posted by prasxz
|
You have the right to ask, but I can’t give a simple answer, each one of my trades have different entry exit rules, The best tools I ever have for my trades are my experience and my eyes.
For today’s trade, I went short for the following reasons:
1- Absolute strength indicator ended the uptrend and start to show a down trend
2- The daily trend is down and the price is near the fib level 61.8 which is not easy to break
3- The price is close to the 30 days upper side of the channel
4-For the last couple of days we been seeing good US data, except the ones that reflect the previous months for early quarter of this year, last month was good for the US economy
5-We just had a big move up against the trend countering the big move down which was with the trend , now it’s time for correction and going with the daily down trend
I use indicators in my trades but they all lag my decision, I know I haven’t satisfied your answer but honestly my eyes are the main tool in my trades.
I target between 50-300 pips, therefore my trades will take time to close, check on this signal one week from now
I don't use ST or TF