As traders we know that trying to pick tops/bottoms in a trend is foolhardy, but we also know that that is what most retail traders do and that is how they usually get killed. However if you can catch those counter trend reversals they can actually be some of the best trades.
So this is how I fade the trend.
I take a counter trend trade when there is a strong SSI reading in its favour.
In the two images FXCM's SSI indicator show +3.13 on the USDCHF, suggesting a sell bias; and -3.18 on the EURGBP suggesting a long bias. You can see the SSI indicator at the bottom of the price bars. And it doesnt matter if its just a pullback or a trend change. This is the only way in which I take trades against the trend.
So this is how I fade the trend.
I take a counter trend trade when there is a strong SSI reading in its favour.
In the two images FXCM's SSI indicator show +3.13 on the USDCHF, suggesting a sell bias; and -3.18 on the EURGBP suggesting a long bias. You can see the SSI indicator at the bottom of the price bars. And it doesnt matter if its just a pullback or a trend change. This is the only way in which I take trades against the trend.
This is how I sell tops and buy bottoms!
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