Do we take the FMOC news at 9 into consideration today?
Trader Dale - daily trading levels
{quote} been at my mums, have to collect her this evening from the airport - went round to get the heating on only to find the freezer broken, and the house stinking of rotten food, having said that I would still have taken that one, and in fact have done so but from a higher level, I can see this could run on but I'm still happy enough with being involved
- #2,858
- Edited 11:12am Jan 4, 2017 9:33am | Edited 11:12am
{quote} been at my mums, have to collect her this evening from the airport - went round to get the heating on only to find the freezer broken, and the house stinking of rotten food, having said that I would still have taken that one, and in fact have done so but from a higher level, I can see this could run on but I'm still happy enough with being involved
good luck all
edit: reaction at VAH was really weak. taken 2nd part of the position. even as the level is quite strong, I am not sure whether it was the best idea to go short against such a aggressive buying activity (maybe waiting for the first red signle and looking for entry after correction of that would be better). SL higher than the previous "top" should be enough. praying starts
edit2: got 15 pips profit, 1/4 of position still opened for the next 10 pips
Eur -12 out.
Firstly the basic rule "If price gets to within about 3 pips and pulls back 8 or more the level is tested" Not a hard and fast rule but trade with caution.
Next if you look at the 5min chart you will see that when price first pulled back, for the next 5 or 6 candles it was banging it's head on a round number (1.0450) which is where lazy traders place pending orders and stops. Once price breaks that number it will normally spike and run anything down that is in it's path with the momentum.
Trading isn't just about numbers but stick with it and watch what price is doing and you'll get there
Never argue with a fool; onlookers may not be able to tell the difference.
