Sam Seiden K.I.S.S. High Risk Trading

Correct me if I’m wrong, but you can spot the novices in the 3 hr USD/EUR chart today.  This may be me, "the pot" calling the kettle black but according to Seiden, this is a low risk trade.  The momentum candle (4th from right) identifies heavy buying, then a more Narrow range candle (3rd from right) which shows a loss of momentum, and then the pullback (2nd candle from right.)  A stop would have been placed a couple of pips above resistance or a couple of pips above the Narrow Range Candle.  Check out this article if you haven’t already, http://www.cbot.com/cbot/pub/cont_detail/0,3206,1070+12192,00.html

I don’t think it’s ever a bright idea to buy into resistance. 

Popularity: 2%