Re: July 27, 2020 | +34 Pips | Short Term Trading

#5
AbbasChild53 wrote:
Mon Jul 27, 2020 1:49 pm
Hello, Andrew!
I see the charts, but it is not clear to me what your thinking is, where you are entering the trade and why. Is there some place I can learn more?
Thanks.

Craig
Hello Craig.

1) On the M30 chart we had a fully confirmed ProFx signal and the price went up very steady. At the end beginning of the UK session the price came back to the support area and was very quickly rejected (that is a very bullish sign)

2) On the M5 chart you can see that the price came back several times to the 1.284x area and you will also see lower lows.

3) On the M1 chart you can see that the price could not trade lower anymore (arrow). That's where I went long with the idea that the fourth attempt to trade higher will work.

Alexander
cron