DislikedGet ready for a potential spike up for the eur/usd within the next week or so. The eur/usd is getting sold massively as of late, and while it's inevitable, the rate at which it's falling makes me VERY cautious about shorting right now. You don't simply freefall in a currency; there's always bounces worth hundreds of pips. I'm hoping the spike comes up to around 1.085/1.09 at least. That's my optimal place to short right now.Ignored
can i ask you something?? when USDJPY devalued from say 70 to 120, did you see it fall much from 120??? say even a 23.8% retracement?? well im sorry to say when something gets devalued or whne a currency pair has a direction, it has a direction, and very often there is REAL money flow behind a large trending movement, my advise is simply NOT to bet against it... because theres no guarantee of a bounce or some bullshit like that.... just look at USDJPY as an example...
How many dumb retail traders who thought oh look USDJPY went from 70 to 100, thats a 3000 pip rally, surely theres gona be a pullback/retracement.... Never happened...........
Do not live by the rule that What goes up must come down in forex.... im warning you... dont... because this is a huge mistake for every amateur trader here... when something has fallen... what it COULD do is find a new norm say at 0.88 for EURUSD, and grind out at a level down there for years before the EURO fundamentals pick up enough to make the USD look bad enough to go long Euro against the USD.....
dont think that if something drops hard that there MUST be a retracement.... because thats a huge mistake in every noob trader mindset.....
We live in a finite world with infinite possibilities.