Reply To: Exercise 2
Hi Dave, MORs are looking good 🙂
Don’t forget to reference the daily chart when considering control. In EURUSD buyers have control, in GBPUSD it’s currently sellers (I’ve attached a couple of screengrabs).
You’re thinking about control in the right way… it stays with the dominant party until a swing high/low is taken out, so you can expect to see pullbacks, it’s healthy trending price action and you’ll see shortly how we measure it with fib retracements. We want to be poised, ready to fully participate when momentum flows back in the direction of the pulse. Remember its all about taking a directional bias at this stage, we want to stay positioned to trade in line with the path of least resistance and you’ll see shortly how we double-filter the actual trade entries via the Daily Opening Range.