Dear 3 days before I bought EUR/USD Sell, today $900 loss, if I keep it will go red or blue today, please help urgently today.
Hello Silk, what price did you sell at?
And where is your stop-loss?
Today's bar opened with a small GAP, so chances are that prices may trade back to the open price 1.1293.
In addition, today's bar on the daily chart is nr. 15 in congestion, which may also be in your favor.
The weekly chart is in congestion with 13 bars, and the monthly chart is currently on bar 14.
When any time frame is in congestion (bar 11 through bar 21) one should only trade a lower time frame and stay within the boundaries of the one that is in congestion.
The boundaries are the high and low of the measuring bar (MB), add 8% of the length to the high, subtract 8% of the length from the low.
This will give you the range you can trade in.
The high of the MB on the daily chart is 1.1372
and the low is 1.1135
As you can observe on the daily chart, on June 16th prices attempted to trade out of the consolidation on bar nr. 10 but only made it 5 pips below the low of the MB, then quickly traded back to the middle of the MB.
On June 20th, prices tried to break out of the confines of the MB's high but only made it 9 pips above the high and traded back to the middle of the MB. That was on bar nr. 12.
The rule is - 'trend over congestion' - that is why prices sometimes break on an earlier bar.
But these are exceptions and should only be traded if one can read and understand breakout formations inside of a congestion .
"a little bit of knowledge is a dangerous thing"