DislikedMike, would you consider the weekly pin for the Euro (last weeks that is) to be one that "stands out" or was that more of a neutral bar? Seems like the location was pretty good.
Thanks!
-G550Ignored
THe bar itself was good, location was decent. Was it a trade one could take absolutly. What I told members in my webinar was I stayed out b/c of the 1.3 large rd number an major area directly above it. Since it didn't create all that much space(marked by the magenta lines). That one would have to be concerned with the 1.3 area. For me generally the more space the easier it is to hold through what seem like smaller areas. When that space shrinks like on the euro, that area above of 1.3 has to be an area of concern. So one might decide to move stop to b/e, take profit there or whatever. I choose to stay out since it was so closely above. This pin was just not strong enough(after such strong moves down) for the way I trade to buy and hold and "hope" for it to break 1.3. If the pin had more space and was much larger in size I would be willing to hold and try to get above 1.3. Overall price did what you would have expected. 1.3 is still a very key area.
That is just my view and how I trade.
Hope that helps
Mike
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