Good afternoon traders,
I am looking at this currency pair forecasting a sell. As a general rule All gaps must be filled so I expect price to come back into the 1.8850 area before making another run down.
Few things I consider in this pair and many others:
1. The currency pair is bearish so going against the trend in a short term buy can be very risky (trend can resume anytime leaving the gap open).
2. With price at the current level being relatively "new" you cannot set any significantly important support to trade from.
3. Just like on every pair, the difference between potential winning and losing trades is the patience that a trader posses.
In short don't be afraid of being left out from the market. There are many more potential trades. Always do your own analysis before opening any positions and use proper risk management.
I am looking at this currency pair forecasting a sell. As a general rule All gaps must be filled so I expect price to come back into the 1.8850 area before making another run down.
Few things I consider in this pair and many others:
1. The currency pair is bearish so going against the trend in a short term buy can be very risky (trend can resume anytime leaving the gap open).
2. With price at the current level being relatively "new" you cannot set any significantly important support to trade from.
3. Just like on every pair, the difference between potential winning and losing trades is the patience that a trader posses.
In short don't be afraid of being left out from the market. There are many more potential trades. Always do your own analysis before opening any positions and use proper risk management.