Looking at the EUR/USD (FIRST POST)

Hey guys this is my first post here on babypips, hello community :slight_smile:

Been on forex for about 3 weeks now and I have somewhat solid understanding of how to place my trades.
First 2 weeks I made some risky trades but managed to come out on top (50,000 starting, ~55,000 2 weeks later)

Right now I am looking at EUR/USD weekly and see that it has been in a downtrend for quite (March/April till now) a while but has approached a reoccuring support level which looks strong at the 1.2840 ish mark.

My question is… should I buy after it bounces off of that support level (if it does) in about 2 more weeks or should it break the support level then I sell it instead. Not really including precise numbers but trying to make sure my philosophy is correct in this situation.

Any advice you want to throw at my newbie self is completely welcome!

Thanks for being of assistance guys!

(Still in the school of Pipsology):47:

I view support levels as sort of a decision area. Wait for price to make it’s move and tell you what it’s going to do, break through or bounce off. I think your philosophy is right but you have to decide what evidence constitutes a bounce or a break. Keeping an eye on what it’s doing on the big time frames is a smart thing to do.

Hi, very informative post, thank you.