Trading Levels with WRBs
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DislikedClosed in the spike up towards the DP
Edit: now short after DP heldIgnored
DislikedHi Medici,
Thanks for that.
I am not looking to trade the news but how to cope with the effects it has on the market.
Yesterday with all that news GU was very flat and I thought perhaps it may be better to trade a different pair when big news is due on GU that morning.Ignored
DislikedMe too and I hope so - or rather the MR1 as that's my TP.....TWT
Now to see what LO brings......Ignored
DislikedOK, so the spike was to the 85 level...the one that I've mentioned before http://cdn.forexfactory.com/images/icons/icon12.gif.....so I clucked and took ~20 pips....Ignored
Disliked1.5927 is the 76.4% retracement of the end of Dec up move, and 1.5986 is the 61.8% level.Ignored
DislikedAh - so that's why the 85 level came into play today.....either way, I'm happy to bank the pips.
Now I'll watch the DP area again and consider another buy.....Ignored
DislikedWith MR1 so close to the more important 6000 level this was always a risky entry, but I'll hold it and add another IF R1 at 6024 gets hit.....this will be an FTI type of rescue!Ignored