September 22, 2010

Strategy Aud/Usd

¡Bienvenidos! I expect AB=CD bearish pattern on Aud/Usd on Daily chart. 127.2% Fibonacci number looks interesting to me. Many use this one to determine the possible target; in this particular case I watch this for Potential Reversal Zone (PRZ). In the other hand, many Traders expect entry long around 0.9400 because they want enter on a retracement (the old Resitance now is Support). I agree, but I not trade this way. I trust in the harmonic numbers and not change my strategy or method. Many change they strategy and method every day. Whatever your strategy or method you need be consistent with them. Not trade RSI today and tomorrow Stochastics or momentum. Less is better for me, and the most important is the price action. If you use many indicators you just confuse yourself. Get you angry and not understand what fails or what works well. All indicators look pretty good at the left of the chart. But at the right side many false signals appearing most frequently. Of course backtesting show you about the percentage of winning (and loss), but not work for trade property; Backtesting is just a small part of learning in my opinion, and works for study and valuate a new strategy. A year ago I tested several times stochastics Oscillator and the results was very good. Awesome results, but today Stochastics not work for me. I just waste my time in illusion. But I learned important lesson anyway. Have a good Trading Amigos.

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