by il brigante » Wed Mar 07, 2012 7:45 pm
Is 10.27 am my time, I only trade eurusd, my broker spread is about 0.7.
On this chart you can see horizontal line in yellow that indicates support/resistance levels and blue lines that indicates round number, the one in strong blue indicates the 00 and 50.
What set ups I am looking for? I look for set ups as a consequence of the tug war between bull and bear. I am trying to not get involved in any battle until one of the two succumbs to the other taking in consideration that my TP is reached before another battles may began.
How do I do that? Well a lot of patience and screen time will help. Focusing on the overall picture and on the single candle will give me a perception of what is going on: the strength of the trend, the size of the pullbacks, the formation of a double or triple bottom, the higher low, the lower high, the way it broke, the way it pull back and so on and on .....
At the moment I am demo trading and at the end of this month I will trade a live account.
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