Hello Brilliantiers,
Wow! look how perfect this (4 hour chart) set-up looks per Technical Analysis alone. The RSI 14 technical indicator soared above the 70 level indicating that this currency pair, in my opinion, is over bought. I would have loved to trade this set-up, however, what's done is done and gotta stay focused because I still believe that my trade is stellar and will prevail in due time (...just wont make as much profit if I waited or placed a pending Sell Trade above the 1.38 level).
In my opinion, This just comes to show how impossible it is to tactfully time the market, however, being close and within a margin of safety is the way to go as part of one's strategy in streamlining a predictable successful outcome (and you can always adjust the trade within reason and practicality)... of course these statements and all statements in regards to strategy (related to Forex as well as well as other posts on the blog) are my opinions and should be read for entertainment purposes only :)
Thanks for Reading
& Happy Trading,
- Mr. Brilliantier
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