DislikedA trade here is a short term trade in anticipation of a range breakout and a solid refusal of a major support that the market has been shooting for all week. IF you are going to trade anything a long would be the right one to take here, however I would have let it settle first into a range and trade the breakout to get the averages working in my favor. I don't like to trade anticipated breaks and anticipated holding of major supports that have been a target for almost 2 weeks.
I trade the fat part of a move, let it give you a solid confirmed...Ignored
Only part is past couple days/weeks even haven't had many runs like that in Eur/Usd.
After a 20 pip break which proves a running trend, it runs out 20-40 pips later. Low liquidity at this time of the year is diminishing the 100-150 pip breakouts eur/usd is used to on a daily basis.
Now it breaks out for 50 pips, ranges for 4 hours, breaks another 30, and heads back the other way.