I took a trade after the spike retracement.

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DislikedI have a question.
When playing the News or EDR's, what exactly is meant by playing the retracement?
Lets say that it spikes up 60 Pips, are we going Short after the spike?
Or are we waiting for after it spikes up 60 Pips, then retraces 40, is it then that after we feel that first initial retracement has taken place that we put in a Long?Ignored
DislikedI'm sorry to inform you guys, but dustin's software is terrible.
It will get you into orders late often enough, resulting in bad trades.
Very bad idea to use this junk. He used to call it RSS back in the past,Ignored
Dislikedperhaps maybe little faster than regularly pushing the refresh button on our internet explorer.Ignored
DislikedI'm sorry to inform you guys, but dustin's software is terrible.
It will get you into orders late often enough, resulting in bad trades.
Very bad idea to use this junk. He used to call it RSS back in the past,Ignored
DislikedGot stop out for - 20 pips.
Ah well, better luck next time..
So far I am: 6 PIPS -20 PIPS = -14 PIPS
My #3 news trade using this straddle method will be:
UK CPI EU Harmonized YoY
Condition: Sell if Lower
Expected:
Release date: 17-Aug-2010 04:30:00 EDT
Pair: Set for GBP/USD
cheers
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DislikedTRADE THE RETRACEMENT
It is all explained here:
http://www.forexpeacearmy.com/forex-...d-part-ii.htmlIgnored
Dislikedok! I'm set up for the gbpusd
i'm only selling if the actual release is < 2.9. Entry will be on the retrace when the original spike retraces back to 20 pips from the pre-release price.
Let's hope we have a runner today...
Good luckIgnored
DislikedI'm set for the news release..
here is some info... http://www.forexpeacearmy.com/forex-...sales-m-m.html
Good luckIgnored