“the trend is always right”
Have you heard the above phrase before? 🙂 Especially in forex which is known to be a rather trending market.
Whether you are following or against the trend, will make or break your trade.
Take a look at this M60 screenshot of the EUR/USD last week.
Any shorts placed within will probably end up in disaster. ( By the way if you are wondering what the curved lines and smiley means, take a look at my Koala System. )
Therefore whenever you are about to place a trade, zoom out to a longer time frame and take a look what is exactly happening.
Is it a continuation of the drop from last night or merely a breather from a week old raise?
Trade safe 🙂