On the four hour chart we are now making higher highs and lower lows, and we have broken the descending trendline from the last posted charts. We have fallen back below the trendline but the higher high has got me interested to get it.
That being said, I think it's important to be very careful at this point, the volatility is huge, and I don't feel like getting burned. Under normal circumstances I would like to get in around 1.4200... but, in this case I want my stop to be underneath the last swing low.
So therefore, I have placed an order at 1.4150 with a 100 pip TSL.
If the market leaves me behind then I will wait for another opportunity, I think there will be many opportunities in the next two weeks.
Update: Market is looking weak and I think I may get filled tonight or early tomorrow.... has anyone been looking at the spreads lately??? holy cow... and the rollover rates. I guess that's what happens when no banks want to lend to eachother.
That being said, I think it's important to be very careful at this point, the volatility is huge, and I don't feel like getting burned. Under normal circumstances I would like to get in around 1.4200... but, in this case I want my stop to be underneath the last swing low.
So therefore, I have placed an order at 1.4150 with a 100 pip TSL.
If the market leaves me behind then I will wait for another opportunity, I think there will be many opportunities in the next two weeks.
Update: Market is looking weak and I think I may get filled tonight or early tomorrow.... has anyone been looking at the spreads lately??? holy cow... and the rollover rates. I guess that's what happens when no banks want to lend to eachother.