Well - I believe we're now seeing the long awaited reversal for the dollar...
EUR/USD has fallen 200 pips in the first 4 hour bar alone.
Ibo - any advice on how to trade this? We know that any unnaturally long bar needs to be dealt with in a careful manner, since a correction of such frothy trading is to be expected.
The 30M chart's dual stochs are both showing oversold, while the 4H chart's stochs are heading down from overbought. My personal tack would be to wait until the price has corrected up (and the 30M stochs are back at 'overbought') then go short...
- Ian
EUR/USD has fallen 200 pips in the first 4 hour bar alone.
Ibo - any advice on how to trade this? We know that any unnaturally long bar needs to be dealt with in a careful manner, since a correction of such frothy trading is to be expected.
The 30M chart's dual stochs are both showing oversold, while the 4H chart's stochs are heading down from overbought. My personal tack would be to wait until the price has corrected up (and the 30M stochs are back at 'overbought') then go short...
- Ian