Previous CLose Price Action

[buccas13]

[Trader_V]

Hi Buccas13,

What you are looking at trading is not just price action but also statistcal probablity. While this is a valid trading methodology like many others out there it also has its downside.

If you are looking for a methodology or trading concept that uses less discretion and is more mechanical I suggest you look at something like "The 5 Minute Forex Momo Trade".

This strategy is from Kathy Lien and Boris Schlossberg and available for everybody.

http://www.investopedia.com/articles...inute-momo.asp

While it is presented on the 5 min chart it can be adapted to higher time frames.

It's just an idea since you are looking for some direction.

Cheers,

Vick