A comment that I would still like to provide regarding the eurusd daily chart is about the price action of the last days.

Price continues to move sideways. A sideways market means that the market is pausing before deciding on the next direction.

Another doji candle for today meaning still no decision on trade direction.

It is up to us traders to keep our calm and insert two lines as an upper and lower boundary and wait for price to break out.

The candle closes at 10 pm uk time on our dear broker so you may need to watch the charts (dailies) only once a day when the candle closes.

Like this you may go about your daily life but when the candle closes you should watch the market.

If the range is broken with a close of the candle then I would recommend to enter the market.

Because the stochastic indicator is at the 80% level I prefer to short, but I guess price will tell.

If it helps you on your entry you may watch a smaller time frame to give you an earlier sign.



Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.