As they so often remind us, timing the trade is the secret of success. Trouble is, we will know what is the perfect time only afterwards. So we are left with the problem of having to guess what is the best time to pull the trigger. If we get in too soon, our stops will be further away. If we wait until it is too late, we will miss the bus/boat/plane/trade. This problem is not going to disappear, certainly we can’t wish it away. So we start making plans. Like the one shown in the chart. Then we take our chances near the planned levels. If it works, we are happy. If it doesn’t, we go home and kick the cat or the dog (just kidding). Enjoy.
EUR/USD: timing the trade for Euro
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