Discussion in 'Forex Trading' started by Rashid_G., Jul 13, 2011.
Like anything else in trading, trendlines give you a subjective basis for how you decide to enter and exit positions. They have no magic by themselves. Beauty is in the eye of the beholder. Although your chart and all the trendlines makes me a bit crosseyed and dizzy. If I had to guess based on your chart, I say get bearish on EURUSD.
The correct answer is: You don't need to know... This "need to know" led me to short as soon as it got there... which is not the right trade (there was no lower Time frame failure) unless taking a very light position.. and even then clouds the mind when currently, in this time frame it is going up, historical levels and TL's regardless.
I have a love hate relationship with TL's as they head me to trouble, considering I was long from yesterday..
All we I need to know is when the trend turns.. not from where.
trade chart structure for entry........
use fib. for the exit doors all the way to the "5.7 full pull ."
Seriously GREEK to me..
The correct answer is: You don't need to know........
it just worxs.
Trendlines are just part of the bigger picture.
I personally think you don't need to know too, like what the other persons were saying. It just, does.
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