This will be the first 4H candle closing in to that disputed area of 1.2560/80.
What that could mean?
My profit stop is at 1.2520, however the decline (if 1.2560 is broken) could reach the support area around 1.2450.
Just my view I bet money on
Originally Posted by jogold18
another short im taking for another low on 5 min, closed my short scalp when hit support, now its acting as resis.
another market function, liquidty gap revisit and filling, note however - futures market is distinctly different from forex, gaps in forex are not the same as futures markets
Right now the only thing that seems to be working is the rather obvious descending triangle sitting on the the 1,25500/600 area. The descending line shouldn't allow price to go over 1,26, and if does approach it I would short the spike. Right now I'm long from 1,256 with a relatively tight stop, but the bounces from 1,255 are getting weaker and weaker.
I don't really see any long position working beyond 1,26 until we get the ECB decision. I don't manage volatility well, so I'll stay put until it stabilizes after.
It might be the problem of your chart's broker. There is no phyiscal gap there in both the futures and cash composite index. Some minor liquidity gap though.
It might be the problem of your chart's broker. There is no phyiscal gap there in both the futures and cash composite index. Some minor liquidity gap though.
need to run back out again but came for a quickie chart lol
i came back to see if i got stopped out. it missed my stop THIS TIME by 4 pips.
its in between S1 (TURNED RESIS) and S2 support. if we break lower passed S2 (which is what i think will happen), ill be stopped and ill prob start looking for short swings. if we get back up, we have to some how find support on the 4 hour pivot. im guessing the way price is moving i will be stopped. pressure is still down and it wants to make up its mind, and only seems to be gaining speed, to the down side
i had 5 scalps in EURUSD. 2 bad 3 good
5 min momentum is down so i expect to be stopped out of my swing trades.
I need clarification on how the rate decision will affect eur/usd...If there is no change from 1%, what will happen? If the rate decision is cut by a .25 point as forecasted, what will happen? If the cut is more than expected, what will happen....thanks ahead of time.....Maybe this is a question for Robert., but any help appreciated.
I need clarification on how the rate decision will affect eur/usd...If there is no change from 1%, what will happen? If the rate decision is cut by a .25 point as forecasted, what will happen? If the cut is more than expected, what will happen....thanks ahead of time.....Maybe this is a question for Robert., but any help appreciated.
In the short run I think we will get a positive reaction on a cut as this will boost risk appetite -> making it easier for the Euro countries to get out from slow growth + easier for companies to make money (higher stock markets).
If the cut is more that 25% then we don't need to rally because this means that markets are underestimating the severity of the current economics slowdown.
No Rate cut and we should also trade lower as we will be stuck in a low growth environment.
The best way to trade this is however not trade it at all rather to wait until get a clear market reaction. We need to remember that we have the press conference after the announcement which can contradict with previous ECB statements and actions.
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Originally Posted by jogold18 
