Goldmine!

This post is a little bit of a trading lesson. The pink line represents the line of force that created the move upward. Notice price is in the middle of the move. If you choose to trade there without an incredible edge and confirmation to do so, you have just made yourself a target to someone who can move the market against you. A good place to emotionally and psychologically wear you out. Why? You have given them room to play.

So what should you do? Wait for price to go to a safer area like Support or Resistance. If you decide to trade, be sure you are a sharper trader than they are or a Ninja Scalper.

All the best,

FX4Newbies

P.S. You may sign on the blog for our free Live Market Session on Monday or Wednesday next week.
 

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Continuing the trading lesson...

Price consolidated, shown by gold box, and fell at resistance at U-MLH of red fork. Trading in the price area represented by the gold box could have been a stressful roll around for two or three hours while price worked its way to a resistance area. Safer places to place the sell: at the red U-MLH not in the middle.

FX4Newbies
 

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Hope you all had a good weekend. Price fell through teal fork and is testing the L-MLH: another line in the sand. Look for confirmation of the next move: don't assume.

Take care,

FX4Newbies

P.S. Removed by Baron
 

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Do not use this journal for soliciting our members. We only allow our site sponsors to use the boards for promotional purposes. This is the first and last warning.
 
Quote from Baron:

Do not use this journal for soliciting our members. We only allow our site sponsors to use the boards for promotional purposes. This is the first and last warning.
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Thank you Baron. My apologies.

FX4Newbies
 
Quote from Baron:

Do not use this journal for soliciting our members. We only allow our site sponsors to use the boards for promotional purposes. This is the first and last warning.
More...

Thought it was okay to make free events available.

FX4Newbies
 
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