Direct from the desk of Dane Williams,
This is not your average forex broker email.
As I said on the blog today, unfortunately I didn’t manage to ride yesterday’s EUR/USD price rip.
However, I did want to talk to you about the price action in Euro.
So in yesterday’s email, I spoke about wanting to wait for EUR/USD to drop to the bottom of the support/resistance zone before buying.
Well, take a look at the intraday chart for the days price action.
Yeah, not even a hint of a pullback to that Daily grey zone.
But if you were on the ball, then the EUR/USD price action on that chart is pretty textbook to how we trade.
See that with price above the higher time frame zone, you could have drawn an intraday box from the last area of short term resistance like I have there.
You can see that price then retested short term resistance as support and never looked back from there.
While I didn’t get this one, the price action is worth learning from.
If you have any questions about this setup or the simple support/resistance trading strategy that I use, then simply hit reply to this email.
I read and reply to everyone inside my Inner Circle who takes the time to email.
Best of probabilities to you,