Hi there.
With my tight capital, I have to be very strict to my money manegement rules. There’s no second guess or lucky trade. Its all based on my fundamental and technical review. As for now, I believe many had already know that I’m a trend following trader. Although I’m not fully a TURTLE, but the idea of following the current trend is what I believe the way of trading.
Fundamentally, reading economic news gives me the insights view of what happens in the market. But it doesn’t really effect my trading style. Technically, I use a simple and understandble system that works for me. Although I’ve got the habit of tweaking!
So, where’s our EURUSD going? Yesterday was a big hike for the pair. It topped 1.4134 and closed at 1.4102. As I’m writing, the current price is at the 1.4123 level and it seems that the price had going sideways. No big movement for now. The pair traded at the 1.40547 and 1.41663 zone. However there’s an indication that the pair is having a bullish momentum and that the next target level is at 1.476 and should go all the way to 1.4336. Both the H4 and D1 support this.
I pretty much loves the idea of drawing the line at the round numbers such as 1,4000,1.4100, and 1.4200. Rather than using the Fibo, I use this round number technique as one of my key strategy. I know some of the big players are also doing the same thing too. You can always give a shot.
Till then!
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