Tip:
Look at EURUSD and USDCHF next to each other and compare them. As you can see they are a mirror move of each other. Question: Why should you have taken a USDCHF long instead of a EURUSD short?
Answer: Because EURUSD has the D1 Pivot underneath and USDCHF doesnīt have a resistance level above. Not that the D1Pivot is a magical wall, it is because traders know itīs there and a bunch of them will close their positions when price reaches it, while USDCHF should keep sailing a little longer.
Always bet with the grain and not against it.
Look at EURUSD and USDCHF next to each other and compare them. As you can see they are a mirror move of each other. Question: Why should you have taken a USDCHF long instead of a EURUSD short?
Answer: Because EURUSD has the D1 Pivot underneath and USDCHF doesnīt have a resistance level above. Not that the D1Pivot is a magical wall, it is because traders know itīs there and a bunch of them will close their positions when price reaches it, while USDCHF should keep sailing a little longer.
Always bet with the grain and not against it.
Observation is the path to discovery.