Well I'm no expert, but here is my 2 cents.pablo101 wrote:Guys, can I ask any pros here on this EJ. Is it considered a risky trade here to sell. I know Sam keeps repeating not to buy at support levels but I see a trend, looks like an ascending triangle and looks ready to break out. On the other hand, I see h4 supply area (green line) and held profit for the down side.
I'm always getting stuck when I see these setups, kinda like deer in headlights, but if I'm trusting what I know so far, price will likely go further upwards so I should either wait or trade a breakout. I'm guessing I answered my own question
I see an ascending triangle testing the supply (resistance area). EJ has same setup as probably many other pairs at the moment
So a breakout is likely coming (as of 7:14am today it has not yet happened). But probably everyone is waiting for Non farm payroll, then extpect it to go one way or the other.
Sam says that he does not play breakouts, but instead waits for it to bounce back to that level before he takes it.
I personally will not play any sells on it as the market inclination appears to be u. Also I will wait until after NFP and a retracement before I trade at all today.