Hello people
I been trading along side many things in my life for many years and I thought I would give you some insight into some of the trades I am looking at, also if people are interested I can explain some of the terminology I use and also some of the knowledge ive learnt from some of the best traders in the world.
https://s9.postimg.cc/k4850f3zz/chart.png
I'll keep this short for the time being but this is the weekly chart which is the first one I check, then I reduce the chart down to daily, 4 hour and then 2hour.
There is a lot of support running along side all time frame and also there some Euro news flowing today which can take tech right out of the game but from my analyses.
There is an option going off this afternoon at 1.2000 (987m)
so with all the support n the weekly, daily and 4hour and 1 hour, also its showing some oversold qualities I would rather have the long side of this trade, even though the market is suspecting more downside, I feel there are stops building topside which will trigger the market makers to run the stops which will equal pips so while I have been typing ive taken a long position for the short term. I do have a stop loss in place and will notify you if and when this trade works out or not, or I can talk people through it. I was going to post more chart which will help you understand my thoughts but wanted this to get on here because its live
Red arrow is the option flowing off today
black arrows are my support and resistance across all time frames
moving averages and RSI are also on my chart
lets see how this develops