The truth is that there is a lot of common ground between the two and the best approach I have found is to take note of both approaches.
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This is particularly true if you are waiting for a certain price to trade to confirm your view.
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Holding Positions Overnight If you are setting out expressly to trade longer-term positions, always check where the market is and if you need to close or adjust your stop.
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If the value of the security drops sufficiently, the broker will ask you to either put in more cash, or sell a portion of the security.
This is how great fortunes are made.
Once he has come up with his evaluation he can determine if he thinks the currency is undervalued or overvalued against a given currency.