Some thoughts related to Pivots (Part #6):
Closed EC +250
Market is in range and wont surprise me this dropping down again
When trading crosses like EC you must look at the majors
UC dropping gaining getting stronger (CAD)
EU is struggling to get pass 1625-30 WP
Hence why my hesitation. When I say market is in range means there are not enough buyers or sellers pushing price either way. This usually results range conditions. If you look at the calendar not much happening this week.
If it drops to 4750 I may reload again
loaded up on EC again 8 positions
UC is very close to 61S so I anticipate CAD getting sold off soon.(means price going up base currency is USD)
Closed EC +250
Market is in range and wont surprise me this dropping down again
When trading crosses like EC you must look at the majors
UC dropping gaining getting stronger (CAD)
EU is struggling to get pass 1625-30 WP
Hence why my hesitation. When I say market is in range means there are not enough buyers or sellers pushing price either way. This usually results range conditions. If you look at the calendar not much happening this week.
If it drops to 4750 I may reload again
loaded up on EC again 8 positions
UC is very close to 61S so I anticipate CAD getting sold off soon.(means price going up base currency is USD)
There is a method to the madness.