My 5 Minute Chart on FXCM UK shows down on my SAR Indicator since 6:35 AM (7 Red Dots) and on my Oanda 15 Minute Chart The first Red SAR just appeared at 6:45 AM
Now on to Some more thoughts on technicals.
I use Technicals for entry and exit for sure. However I would never just put on a trade solely on technicals. I first have to have a Trade Plan and then use Technicals to decide where to enter and also consider my exit as well.
There is a reason that I am posting this comment and that is a realization this morning that some Technical Traders will enter a Trade based on a Tech Level which leads to more trades than perhaps my method would use.
For the moment Technicals are only noise because of Event Risk at 7:45 and because of Feel Good Europe Bond auctions.
There is also US Jobless Claims which are being closely watched.
Look at Bar Chart 5 Minute on US Dollar Index...
http://quotes.ino.com/chart/index.ht...X&t=&a=&w=&v=s
http://stockcharts.com/h-sc/ui?s=%24USD
Now on to Some more thoughts on technicals.
I use Technicals for entry and exit for sure. However I would never just put on a trade solely on technicals. I first have to have a Trade Plan and then use Technicals to decide where to enter and also consider my exit as well.
There is a reason that I am posting this comment and that is a realization this morning that some Technical Traders will enter a Trade based on a Tech Level which leads to more trades than perhaps my method would use.
For the moment Technicals are only noise because of Event Risk at 7:45 and because of Feel Good Europe Bond auctions.
There is also US Jobless Claims which are being closely watched.
Look at Bar Chart 5 Minute on US Dollar Index...
http://quotes.ino.com/chart/index.ht...X&t=&a=&w=&v=s
http://stockcharts.com/h-sc/ui?s=%24USD