USDCHF and EURUSD – Not in very well defined ranges
Yesterday I received an email from one of my blog readers; she asked me if there is any particular reason I haven’t been analyzing the EURUSD in a while. Well, then answer is yes, both, the EURUSD and the USDCHF are not trading in a very well defined range.
I trade based on how the market is trading in the long term charts, for instance, if the market keeps bouncing from consistent support and resistance levels, then I feel confident and comfortable trading that particular pair, on the other hand, if I see the pair gets rejected from random levels, then I don’t know where to place my SL and TP levels (and which direction to trade).
We don’t have to trade all pairs, we have plenty of them to choose from, why not choosing the ones that are trading in well defined ranges?