another nothing on that hourly, that large candle should contain trade until Mr T shows up....
Look Sharp/Trade Tight
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Dislikedhi cloggie thanks for the info, how will you know when to enter?
i mean i would think there would be some crazy spike from now up until the news and probably quite a few while trichet is talking....so when will you know when to pull the trigger?Ignored
DislikedHi,
my EW analysis points to the same level....
Best to you and take care,
MarkusIgnored
DislikedYou need to judge how the news fundamentally affects the pair and then enter on the counter caused by those having the wrong rumour mill, just as NFP. You get in on the opposite spike, not for the fainthearted or those that are not comfortable with the funnymentals. For the pure technical traders you let the whipsaws settle down before getting in on the clear direction, you could think about trading the breakout of the pre news positioning and the whipsaws right after. If you are not sure about either, just stay out.Ignored
Dislikedthanks mate
im a newbie trader so i think its best for me to let the dust settle then before i enter. i dont know hardly anything about the fundamentals, and just trade the technicals really......so thanks for the advice!Ignored
DislikedFor the pure technical traders you let the whipsaws settle down before getting in on the clear direction, you could think about trading the breakout of the pre news positioning and the whipsaws right after. If you are not sure about either, just stay out.Ignored
DislikedI like that.. i can't EW myself, so is nice that you confirm the level.
Thanks!Ignored
Dislikedthanks cloggie, good idea....news trading is tough, plus i "think" a demo account doesnt behave like a real live account, which makes entering and exiting less realistic.......but i will give it a go.....no harm done in demo!
thanks once again, appreciate the advice!Ignored
DislikedHi Longshot,
what is your projection after we have reached the target?
I think that we will retrace deep to around 3190 to 3200, because wave 1 and 4 have overlap. Therefore Leading diagonal. The wave 2 following a leading diagonal retraces between 66 and 83%.Ignored
DislikedMay be but if this price fail to hold 3166 for long time then will close the long for now & if fall below 3090 will start short.
Anyway so far just retrace lower 2 legs down ok but untill it breaks tops one by one no confirmation up further at the same time . creating tension rather trading at this place .
fontuIgnored
DislikedHi Longshot,
what is your projection after we have reached the target?
I think that we will retrace deep to around 3190 to 3200, because wave 1 and 4 have overlap. Therefore Leading diagonal. The wave 2 following a leading diagonal retraces between 66 and 83%.Ignored
DislikedBecause of this setup I will close my short position in the next minutes and take a very small long position.Ignored
Dislikedthanks mate
im a newbie trader so i think its best for me to let the dust settle then before i enter. i dont know hardly anything about the fundamentals, and just trade the technicals really......so thanks for the advice!Ignored