EURUSD has taken a big bull run today with it being up 0.80 percent on the day. My last analysis is still valid in my opinion i entered at the wrong time since President Lagarde of the (ECB) spoke today which created a lot of volatility. EURUSD can be very manipulative since it is one of the main pairs that retail traders look at and the central banks & hedge funds look at as well. it has come up to the 0.618 level on my fib retracement and has nicely wicked off this level. We normally see retail traders stop loss be hit then automatically goes in the direction we anticipated but we are already out the trade... classic. Largarde didn't have much to say today as he did not want to talk about the level of the currency. My stop loss is above the current high and a placed above the weekly trend line as well. to be honest i don't like chasing trades that haven't gone my way but i'm stubborn that we see a correction from the 12 year highs.
The DXY ( dollar index ) took a dip but has come to major support now and i am expecting to see the buyers step in at the level it is at. Tell what you think ladies and gentleman am i chasing this trade to much ?
The DXY ( dollar index ) took a dip but has come to major support now and i am expecting to see the buyers step in at the level it is at. Tell what you think ladies and gentleman am i chasing this trade to much ?
Comment:
Up 75 Pips I am locking in 25% profits and letting the rest run until further notice. I will probably hold this over the weekend since this is more of a swing trade. I am now making up for my losses which I got stopped out by 10 pips! on the last EURUSD.
