Hello traders,
So i only trade the EURUSD and we managed to catch the big money move at the beginning of the week. But now we have hit the 1.16 price where we are now in a period of accumulation.
This is where the market maker will start taking orders long and short before he/she pushes the market in their intended direction. This normally happens at a round number (Price level)
The reason I like to trade the EURUSD is because we see the market respect round numbers again and again, this makes it extremely simple to trade.
As it is Friday i do not trade so i will be sitting today out - but hopefully we see a nice pattern form for me to go long (Because we are above the 200 MA on the 1HR)
Its been a pretty quiet week regarding the fundamentals so you was always going to see a lack of movement on the dollar.
I hope you traders have taken something from this.
Safe trading
So i only trade the EURUSD and we managed to catch the big money move at the beginning of the week. But now we have hit the 1.16 price where we are now in a period of accumulation.
This is where the market maker will start taking orders long and short before he/she pushes the market in their intended direction. This normally happens at a round number (Price level)
The reason I like to trade the EURUSD is because we see the market respect round numbers again and again, this makes it extremely simple to trade.
As it is Friday i do not trade so i will be sitting today out - but hopefully we see a nice pattern form for me to go long (Because we are above the 200 MA on the 1HR)
Its been a pretty quiet week regarding the fundamentals so you was always going to see a lack of movement on the dollar.
I hope you traders have taken something from this.
Safe trading