Anyway I have been talking about this pair quite lately.
Nowadays, I am thinking about trend trading.
Like what Kathy Lien said, it is one of the style which most hedge fund managers use.
Maybe I can combine price actions and trend trading.
Below is a picture.
So I realized I can be a contrarian, and also a trend trader.
For example, the overall trend is bullish.
I enter when it rebounces off a resistance zone.
Maybe my new strategy:
- See the long term trend
- wait for it to retrace to a support or resistance zone
- use price action to decide if the trend will continue strongly again, or is it coming to a u-turn.
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