tozsdeprofit wrote:your chart is very confusing.
which direction do you want to trade?
The trend is bearish.
why do you looking for bullish setups?
"You chart is very confusing"
Hi, yes it can be confusing. In the previous chart, I was illustrating the past opportunities where a trader could had taking a trades "where the arrows are"
"Which direction do you want to trade"
I trade what I see and I try not to predict the market. At the time of the previous chart, It showed that it hit the yellow line RESISTANCE and it bounced back around 140 pips hit the inner trend line and bounce back up around 200 pips and broke the resistance yellow line . that's why I have trend lines, to show the supports and resistance.
I personally trade with the trend and retracements. In the previous chart, you would see the inner and outer trend lines for retracements.
"the trend is bearish" "Why do you looking for bullish setups?"
The market has been bullish for the past two weeks, it went from 1.3144 and it is now 1.3888 as I am writing this reply. Here are couple charts that show how I look at the chart. The first one 4 HT and the second one 1HT.
My regards,
"Proper patience is needed throughout the lifecycle of the trade, at entry, while holding and exit" Dennis Gartman
“Self discipline is when your conscience tells you to do something & you don’t talk back.” W. K. Hope.