Friday, November 2, 2007
downtrend slice
On the long way down of this pair, i shorted again after the resistance line (green) break. I closed for +13,5 p gain approaching a fibo line and because CCI was making higher lows. The reverse happened just 10 minutes later.
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Following the trend is easily the best way to be successful and if one is unable to do this than it won’t be all so easy to get the reward, so that’s why I strongly believe we all should be happier following the trend. I don’t have enough knowledge to do this but thanks to OctaFX broker, it has made things easier with their daily market updates, so from that I can understand more about the trend and follow it to get rewards.
What Is The Best Time Frame To Rely On In Forex?
Most professional forex traders spend their time analyzing time frames of the four-hour chart and higher, the one-hour time frame can be useful for refining entries, but anything less than this and you are simply rolling the dice. So, step one to trading like a professional is to fully accept that higher time frames display a much more accurate and useful view of the market than their noisy lower-time frame counter parts. The bottom line is that to fully develop your Forex trading skills you need to learn to trade the higher time frames before you do anything else.
Bosun
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