Idea Two: the grid
There's lots of grid trading ideas on the market, and the majority of them are broken. Either they leveraged , or they have all TP and no SL, or they martingale , or they enter trades contrary to the trend and expect it will retrace.
I have a few basic concepts that shape my views of FX:
1. I don't have any idea what price will do.
2. Price reacts to S/R lines.
3. Price has momentum and inertia.
4. Fibs are bad.
5. I don't understand what price will do.
So price will do something when it reaches S/R, but that I don't understand what it will do. It might bounce, or it might push. Or it might just sit there. If it sits there, it will sit a while. If one way or the other moves, it will continue moving until it hits a second S/R spots and must make a determination.
Squiggly lines don't tell you any of this. They tell you exactly what price was performing, over a period of time, normally. This has its own uses.
For me personally, I only assume that price will do SOMETHING, and I want to be on the train when it leaves, whichever way it goes. And I want to get off the train when it slows down enough for me to leap without breaking an arm. My grid allows me do this.