Here is a great example when not to trade. Yesterday the price went from 1.27x to 1.29x and started to consolidate. The first breakout attempt to the upside failed and as long the price trades in the range (see screenshot), the best trade is no trade.
The longer the price keeps consolidating the better because the larger will be the price move what will eventually follow. To make sure you don't miss the breakout, you can use the build in level alerts.
- ProFx 7 - Next Generation Trading System!
- - ProFx 7 - Trade Suggestions (Real Time) and Trading Ideas
- - ProFx 7 - Support Questions, User Versions and Suggestions
- - ProFx 7 - Trading Results
- - ProFx 6 -Archive
- - - ProFx 6.0 - Daily Trade Suggestions
- - - ProFx 6.0 - Support Questions
- - - ProFx 6.0 - User Results
- - - ProFx 6.0 - Suggestions
- Swap Master - Market Neutral Swap Trading
- - Swap Master - Support Questions
- Forex Insider
- - Forex Insider - Trade Ideas
- - Forex Insider - Support Questions